Euro-fiscal-debt-cliff-crisis-crisis-crisis

Speaking of the Euro-debt Crisis…oh, wait, nobody’s talking about the Euro-crisis and why you should be panicking out of your stocks because the Euro-debt Crisis is going to crash the world’s economies and markets. Now the mainstream media discussion is focused on the “fiscal cliff”. I guess Europe got all that sovereign debt and endless bank bailout system all fixed up finally? No?

I hit on this topic a bit yesterday and it really does underscore why successful traders and investors have to ignore the headlines and pundits and think for themselves.

Here’s the European Headlines page from Marketwatch this morning:

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ArgentinaAsian Countries/RegionsAustraliaAustriaBelgiumBrazilBulgariaCanadaChinaCyprusCzech RepublicDenmarkEmerging MarketsEstoniaEuropean Union CountriesFinlandFranceGermanyGreeceHungaryIndiaIndonesiaIrelandItalyJapanLatin American Countries/RegionsLatviaLithuaniaLuxembourgMaltaMexicoMiddle Eastern Countries/RegionsNetherlandsNorwayPolandPortugalRomaniaRussian FederationSaudi ArabiaSlovakiaSloveniaSouth KoreaSouthern African Countries/RegionsSpainSwedenSwitzerlandTaiwanTurkeyUnited KingdomUnited States

All MarketWatch News & Commentary »Leveson: U.K. press needs independent watchdog10:39 a.m. Today | By Barbara KollmeyerCrude-oil futures rally on ‘cliff’ talk, GDP10:22 a.m. Today | By Myra P. SaefongRio Tinto leads U.K. stocks higher; Kingfisher off10:15 a.m. Today | By Sara SjolinHopes for fiscal-cliff deal boost Europe stocks9:59 a.m. Today | By Sara SjolinStock futures up on hopes of averting ‘cliff’9:13 a.m. Today | By Kate GibsonEurope stocks hold gains after U.S. data8:55 a.m. Today | By Sara SjolinDollar falls out of favor on U.S. budget hopes8:54 a.m. Today | By Barbara KollmeyerDollar falls more, Treasurys erase loss after data8:38 a.m. Today | By Deborah Levine

So it seems that the media has forgotten about all their own panicky warnings of impending stock market doom because of the Euro-debt Crisis. Now they want you — and even the people in Europe apparently —  to focus and eventually panic about a “Fiscal Cliff”.

The important thing is to remain objective, independent and cut-throat in our analysis of the economy, the policies of our government and others and how they impact the economy and to stick with that analysis to guide us. Often when the mainstream media gets everybody panicking, there’s great opportunity to take the other side.

Other than that, steady as she goes. I’ll scale in more if we crash. I’ll trim if we skyrocket.