I came across one article about Obama warning Wall street .
What does this government shut down really mean , does it mean policeman, air traffic controllers are not going to get paid or is it just a politics things. It does seems there has been shut down of government previously, eg like California but it seems thing are still Ok thereafter . So from outside, it seems the America can operate independent the government , unlike other countries, or is it ?
Thanks for explaining.
Thanks farhan, clcellve, and every friend here for the explanation .
50 years ago, a time where most beings on earth now has yet come into being , one country landed mankind in another world . 50 years later, no country has anything close to it, not even close, not even with technologies 50 years later. The world is indeed waiting with bated breath for that very same country to resolve this. They have to, otherwise planet earth is in deep trouble, and in this no one is joking.
What it means that the Government won't be spending approximately $200M per day. The Government spends on average $30B per day, so it would take approximately 57 days to equal about 1% of the GDP of the US with the shutdown. Shutdown isn't the story, it is the Debt Ceiling, if the US defaults in the first time in its existence, it should not be too difficult for other countries to decide that the US dollar is no longer stable as a world deserve currency, maybe the Yuan or Euro becomes the worlds reserve currency after that. This could wind up breaking things badly with the Federal Reserve no longer having a central role, rather some other bank internationally will step into that role, world could be plunged into a global depression with hyper-inflation taking place. Perhaps this was planned all along and the US cannot fight every country that wants oil priced in a different currency.
The US supplies most of the worlds oil. If other countries want to pay in rupyahs then they are going to have to shop somewhere else. "International" companies were set up to avoid US taxes because the congress prefers to get paid with manilla envelopes.
The Ayrabs are a little nervous about the whole thing, mostly cause they hate chinese food.
The national zoo is closed....and even though we KNOW there's somebody there feeding the animals, they HAD to turn off the panda cam. Even though the panda cam says its sponsored by Ford. This makes no sense, and staring into the dark screen trying to imagine what those fuzzy buddies are up to, is starting to angry up my Spanish blood. Which is exactly the opposite reason why I watch Panda Cam. Darn it!
are you SURE someone is feeding the animals? Maybe volunteering (although that's not supposed to happen for non management types). We have a local fish hatchery that supposedly will have no one officially around to feed the fish due to the shutdown. Well, it's only fish I suppose.
Obama trying to talk the markets lower. I am sure he is disappointed the markets havent reacted to the downside. So he is trying to talk the markets down.
This is his way of putting pressure on Big Money.In turn they pressure Republicans to end this quickly.
It means once we default on the debt, 100 percent of the worlds currencies will stampede to convert to dollars. Just like last time s&p downgraded our credit rating. Government will seize all your gold at a low price. Just like last time. The Euro will be ruined overnight. China's economy will collapse. But everyone will have free healthcare and will die in peace. Congress has already pre arranged trades with wall street so al gore will still be able to collect on his $7 apple options. After the 100 point drop the deck is shuffled and everyone goes back to work. - but only if you work for the government. If you don't work for the government, you don't work at all. - You trade stocks. America is the new france - without the social benefits quite yet in place.
All the immigrants leave, and the rest of us go back to picking apples and building cars that are not quite good enough.
The good news is that nokia investors cash in and become the new super rich and sit back and watch in mild amusment.
As farhan says below, the crucial issue is the debt ceiling, not the shutdown. If the Republicans blow up the debt ceiling, then run for the hills. Not just the US, but overseas, too - the US dollar is the reserve currency, and if it becomes a political football, subject to the whims of a group of extremists, then the dollar's standing as a reliable reserve currency is gravely injured.
The US has always honored US debts - Alexander Hamilton, the first Treasury Secretary, worked hard to convince Congress that honoring our debts would serve as the cornerstone of our economic future, and so in the early days of the Republic, at great financial sacrifice at a time when the US was hard pressed to afford it, the US decided we would honor our debts.
One thing we taxed back then was whisky. Some farmers in Pennsylvania made a lot of money selling whiskey and decided they wouldn't pay the tax. No less than George Washington led the Army against these farmers and made them pay the tax - look it up - it was called the Whisky Rebellion.
The founders of the US - Washington, Hamilton, others - recognized the importance of honoring our debts.
Apparently the Republicans think pursuit of their political positions on budget issues is more important than a political tradition and principle established at the dawn of our Republic, and honored by office holders of every political persuasion since then.
They are reckless, they are radical, they are extremists - their actions harm our social and political fabric, and do not deserve to hold office.
funny that the only ones who can blow it is democrats. They control the senate, the executive branch, and the supreme court. Still, they'll trip on their own shoelaces and blame republicans. Remove the blame factor and you'll realize democrats stand by nothing. Reintroduce the republicans and they survive in blaming then and stealing their success and hard work
You are a absolutely right.
Thanks for the little hidden history. George was right to go with full force after the ungrateful renegades.
In the end it is even simpler than that. Who would lend money to somebody that while able, refuses to honor his prior borrowings.
This government shutdown is more symbolic.Only about 14.3% of the federal employees are temporarily out of work.most of these workers are considered non-essential.In my opinion, the treasury employees are the most important federal employees that are out of work right now. The reason markets are not selling off...this is not a real government shutdown. The financial markets will enter panic mode in my opinion if this foolishness doesn't end early next week with debt ceiling resolution. If Republicans play this chicken game with debt ceiling, the damage to the U.S will be long lasting. We are becoming a third world country in politics...we can't justify to be the world's reserve currency and safe haven---2 key reason why the U.S has always attracted 10X foreign investment to our closest rival China.Our politicians are doing a real long term damage to our economy and U.S.A brand in a world economy that's getting more competitive for investment dollars.
Do all of you guys work for the media? Why is it only the Republicans who are playing chicken? Obama and Reid are playing chicken, too. Both sides need to get together and work something out. We can't borrow our way out of too much debt. Raise the debt ceiling in exchange for real spending cuts. It should be easy.