Karl Snyder, chief market strategist at Garden State Securities, Inc., discusses how the possible U.S. government shutdown and debt ceiling crisis will impact the financial markets, as well as how much longer the wealth effect can last as the disconnect between the equity markets versus the U.S. economy grows.  

Snyder also weighs in on the uncertainty surrounding the Federal Reserve's tapering dilemma and its impact on the feared emerging market bubble. Finally, Snyder talks about what to expect ahead of third-quarter earnings season.