The entire country is going to take a pay cut--2% Social Security, 3% across the board. The money will come out of investment funds outside IRA and 401K type plans--those will be funded first and fully.
Your discretionary new funds for investment will take a hit. Psychologically the 50-250K families will turn from debt building to debt destruction, defraying investment capital.
But the largest effect will be anticipatory around four weeks from now, as the Congress delays doing anything till after election--the fear factor will cause a correction. We almost started one this week. The next one is going to be brutal, and we're just going to have to be on the lookout with dry powder to deploy same around XMAS.
Silver and gold will not look like safe havens, folks run for the almighty heavily overprinted dollar. Dollar strength means commodity drops, and gold and silver have that distinction.