Is it time to vote with your wallet?

I talked with a stock broker yesterday to see what he recommended I do with what was left of my IRAs. He said that 2 months ago he was recommending that people just ride it out. Now he is recommending that everyone, and he means everyone, sell any stocks they hold of any kind. He also recommends that if you have... show more I talked with a stock broker yesterday to see what he recommended I do with what was left of my IRAs. He said that 2 months ago he was recommending that people just ride it out. Now he is recommending that everyone, and he means everyone, sell any stocks they hold of any kind.

He also recommends that if you have a bank savings account that you pull the money out and keep it in cash. He says there are a huge number of banks that are teetering and when they start to fail it will cause panic and you may not be able to get to your cash for a while. Since those "passbook" savings are earning nearly nothing, he says there is no reason to risk not having access to the cash.

Finally, he advised me to pare down the number of employees I have to an absolute bare minimum. He says that the time is past where I can try to be generous--it is time to "shutter the windows" and focus on my family and how we will make it through the next 8 years.

He was literally frightened. He hoped that enough people follow this prescription in order to send a message, a vote, to the administration.

Do you think that this sort of "vote" is necessary?
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