US Government Shut Down

[Damo 69]

Surprised there is no thread on this yet, US Government shut down you would have seen on the news is getting interesting with china weighing in for a “new world order”

Sucks to have bought US$ TJ, you would be better off waiting and buying “The Amero” another conspiracy behind why they are dilly dallying with the debt ceiling business.

Anyway will be an interesting few days in Washington until the 17/10 when they default. Any forex traders with suggesting or thoughts on what will happen? I am usually event based/fundamental (no staring at lines on graphs) forex trader so will be watching this closely

few links

http://www.abc.net.au/news/2013-10-14/an-china-calls-for-27de-americanised27-world-in-wake-of-us-sh/5020060

http://www.globalresearch.ca/north-american-monetary-integration-here-comes-the-amero/7854

http://www.theguardian.com/world/2013/sep/29/us-government-shutdown-services-affected

[DrKarl]

Got to wonder what impact the 'shutdown' has on their economy besides drilling home to the people just how much shit that they're in.

[Damo 69]

Some of the comments are “its good as it means the government isn’t spending as much money, thus reducing debt” such an American of a comment, the dow jones actually sky rocketed when it all happened – are they fucking retarded?

how about the few million people who aren’t getting a pay cheque from their cushy government jobs, leading to default on houses, lack of spending etc and the circle continues.

[crabman]

I hope they default, keen to watch the carnage.

Tea party turned out to be a bunch of spineless pricks that voted for paying the people in those cushy jobs even though they aren't working them while in shutdown mode.

[Tre-Cool]

Yeah, yeah Alex jones website. but i found this interesting.


Nearly 50 million Americans are right now using EBT cards which are automatically refilled each month with welfare money the government doesn’t have, increasing the national debt.


http://www.infowars.com/food-stamp-recipients-panic-as-federal-ebt-system-crashes-government-it-systems-rapidly-unraveling/

50 Fucking million people relie on the government for food. Easy way to cull the population...

I don't think they will default, but with the current market it's one of the reasons why i've taken up a permanent role in a large company.

[RGVFAST]

The whole thing is a game of chicken, and someone always pulls out before they get hurt. I cant see in my wildest of dreams that the US will allow a default, and i dont think many traders/investor or anyone else can invision it happening either. Stocks seems to be up, the US dollar is steady and gold/silver are still lowish.

[MadDocker]

http://www.news.com.au/business/markets/china-world-should-de-americanise/story-e6frfm30-1226739274267

This will only intensify as the shut down draws on and will step up if US default. Not good for the yanks.

[Damo 69]

It is rather humorous to note America is falling hard on one of its own tactics they have used to over throw smaller countries for the last 4 decades. Provide smaller countries with heavily inflated loans they don’t need, when they default – that’s cool just let chevron have open season on this oil field, or Bechtel build some infrastructure you don’t fucking need.

The irony is delicious

[RMCprime]

I've been in Houston for the last month and I really haven't noticed any change...yet. Everyone just seems to be going about their business. Every now and then you hear the shut down mentioned jokingly in conversation.

[MMM]

Nothing will happen these problems always sort themselves out.

Anyone remember 2008??

[DRKWRX]

I am more worried about the effect this will have on our economy? what will happen?

[TJ]

Dollar has been at 94/5 since it happened - doubt it will move much.

[jzx_andy]

i for one welcome our new chinese overlords

[crabman]

Nothing will happen these problems always sort themselves out.

Anyone remember 2008??

No....... that's kind of the problem. 2008 never really fixed itself. Central bank meddling dragged it out, this is more of that time coming to a head.

[Tre-Cool]

No....... that's kind of the problem. 2008 never really fixed itself. Central bank meddling dragged it out, this is more of that time coming to a head.

exactly, problem was never fixed. all they have done is just kicked the can further up the road and moved the bad debt from a bunch of smaller lenders/banks etc into a few larger ones.

[HotAe92]

It is rather humorous to note America is falling hard on one of its own tactics they have used to over throw smaller countries for the last 4 decades. Provide smaller countries with heavily inflated loans they don’t need, when they default – that’s cool just let chevron have open season on this oil field, or Bechtel build some infrastructure you don’t fucking need.

The irony is delicious

Damn straight, they've been screwing under developed and developing nations for decades. Now it's their turn, 17 trillion's worth (or whatever it is).

Shame that it will bring alot of other western countries down with it though.

[Damo 69]

i for one welcome our new chinese overlords

All hail Xi Jinping and his glorious regime

[ReaperSS]

This is Germany 1939 all over. Bring the country down to its knees. Get a strong leader , take on the world. Wont be long till the military police everything and free speech will go out the window. Fema camps for anyone agaist the govenment
Tin foil hat on ;)

[Evman]

"EVERYONE STOP FUCKING SPENDING MONEY! Oh, except for you defence. Carry on."

I understand US's defence is having cutbacks too but fuck me if that isn't one of the biggest bullshit money-pits around. There are some pretty cool things that come from defence budgets but I'm willing to bet there is a whole lot more that is complete crap that gets money thrown at it regardless. Like war.

[adrenalin]

USD will be worth shit all if america declares bankruptcy. If that happens and america isnt spending then China wont be producing as much. If that happens our resources wont get bought.

Kind of a vicious cycle but i doubt america will declare. More borrowing and printing money to come.

[winstor]

I don't see them declaring either.

Apparently Obama has the discretion to raise the debt ceiling regardless, some constitutional right or some bullshit. I could be wrong or misinformed though.

[shifted]

Is the system in essentially a never ending debt regardless? So raising the debt ceiling just repeats the cycle?

Honest question - no idea how it works.

[Miggy]

<iframe width="420" height="315" src="//www.youtube.com/embed/srNMYIRY9ks" frameborder="0" allowfullscreen></iframe>


Everything will be fine until the day China wants to cash in all those bonds they bought from America...

[RGVFAST]

It's the fed reserve buying the worthless bonds from the US government.

[Rich]

USD will be worth shit all if america declares bankruptcy. If that happens and america isnt spending then China wont be producing as much. If that happens our resources wont get bought.

Kind of a vicious cycle but i doubt america will declare. More borrowing and printing money to come.

I need to buy USD before I head over there next month. Where its at now is the best its been for a while. Should I wait for the crash or get in now....

[MMM]

I need to buy USD before I head over there next month. Where its at now is the best its been for a while. Should I wait for the crash or get in now....

Maybe buy 1/4 of your money you intend to change over.

Wait a few weeks and see what happens before you buy your next lot.

[Miggy]

<iframe width="560" height="315" src="//www.youtube.com/embed/OlSd9OURbCE" frameborder="0" allowfullscreen></iframe>

Good watch.

[ben351]

Bring back Civil war.

[D3FEKT]

<iframe width="560" height="315" src="//www.youtube.com/embed/OlSd9OURbCE" frameborder="0" allowfullscreen></iframe>

Good watch.

Finally a yank who actually understands what is happening the their country and isn't sitting around being an ignoramus..

[adrenalin]

If it was up to me i wouldnt buy anything until the decision is made. The aussie dollar wont be the one devaluing it will be the USD. Can only mean ours will go stronger. Good thing if you want to buy shit but very bad for our economy as it means our shit gets to expensive.

Car parts from the states starting to look better.

[MMM]

Has anyone done any research on what actually happened in previous US government shutdowns?

Below are the 5 previous shutdowns and there effect on the dow

1. Dec 17-21, 1982 – Dow went from 990-1,036 (continued higher after)
2. Nov 10‐14, 1983 – Dow went from 1,060‐1,055 (was flat after)
3. Oct 5‐9, 1990 ‐ Dow was 2,516 on Oct 5 to 2,515 (Dow was completely flat for the month of Oct then rallied to 2565 in November)
4. Nov 13‐19, 1995 ‐ Dow went from 4,870‐4,989 (rallied after)
5. Dec 5th 1995‐Jan 6th, 1996 ‐ Dow went from 5,182 to 5,187 (rallied after)

[winstor]

Still don't see them defaulting though, has any country ever defaulted?

[Damo 69]

Still don't see them defaulting though, has any country ever defaulted?

no country that matters

[Bomber]

Negotiations broke down today and they don't have enough many as of the 17th their time to pay their debts, so they start defaulting as of then unless they lift their debt ceiling.

[Damo 69]

The whole thing is ridiculous as the republicans are pissed over the Obama care so are being pingpingpingpings, which if you look into is a much needed step in the right direction for American health care.

[Evman]

Basic medical care for every citizen of "the richest country in the world"? Pfft fuck that!

[siladee]

they wont have a debt crisis when all the poor people die

[INSINR8R]

The whole thing is ridiculous as the republicans are pissed over the Obama care so are being pingpingpingpings, which if you look into is a much needed step in the right direction for American health care.

The GOP even have former members like John McCain blaming them for the shutdown. Republicans are for the rich, Obamacare would see private health take a hit and a lot of the Republican backers are in private health.

[siladee]

http://mobile.news.com.au/business/markets/deal-to-avoid-default-and-reopen-us-government-in-hand-says-senator-kelly-ayotte/story-e6frfm30-1226741337055

[Tre-Cool]

from what ive read in regards to the health care reform shit from obama is that it's compulsary to get private medical if your employed etc. so companies over a certain amount need to pay it...UNLESS YOUR A LARGE MULTINATIONAL like McDonalds and a whole bunch of obama's mates that are excluded.

so essentially they are fucking over the small to medium businesses as per ussual.

the next problem is people who had private health insurance allready are getting renewels upto 500% higher than what they allready had.

Yeah, great incentive

[DanWA]

If the Liberals had their way, they'd bring it all in here...

[Damo 69]

If the Liberals had their way, they'd bring it all in here...

Right

[Riggs]

If the Liberals had their way, they'd bring it all in here...

Why do you always post useless nonsensical shit?

[Damo 69]

Why do you always post useless nonsensical shit?

No shit,

You make these shit statements with no substantiation, I have barely looked at the AFL thread due to a lack of interest in the topic but I can see why they have 2 threads.

[DanWA]

Why do you always post useless nonsensical shit?

Apologies, i forgot its only ok for some


No shit,

You make these shit statements with no substantiation, I have barely looked at the AFL thread due to a lack of interest in the topic but I can see why they have 2 threads.

The AFL thread is what it is because its not a democracy so fourseven gave in to people whinging, same thing... its ok for some..

What makes you think what i said is so wrong?

[adrenalin]

Lol you are a fucking retard ...

Australia has one of the better public health systems.

[DanWA]

For now...

[mARC]

For now...

Care to provide any factual evidence re: your claim?

Anyone can be pessimistic.

[SimonR32]

I have never actually put anyone on my ignore list on here, usually because I like the arguil (wrexter and mad_aussie did come close)... but fuck me DanWA you bring NOTHING to these forums

[Evman]

What makes you think what i said is so wrong?

The Liberals are in power so I guess we'll see if they try to implement massive, sweeping changes to our already robust healthcare system.

No system is perfect but I think if they tried to implement an Obama-care style system here they'd be laughed out of government.

[DanWA]

Care to provide any factual evidence re: your claim?

Anyone can be pessimistic.

Time will tell, definately no signs of it as yet


I have never actually put anyone on my ignore list on here, usually because I like the arguil (wrexter and mad_aussie did come close)... but fuck me DanWA you bring NOTHING to these forums

More than you still

[adrenalin]

Time will tell...

Sorry didnt realise you had inside information on how the hospital system works.



Also care to elaborate how Labor would help benefit the Public Health System and make it better.

[MadDocker]

Time will tell, definately no signs of it as yet

All water on Earth will turn into gold. No signs of it as yet but time will tell.

[Fukushima]

I kind of agree with DanWA... the system is good but it is not 'the best in the world', nor is it sustainable

[Damo 69]

What people are missing is Obama care is bringing the US health care closer to the standard of AUS (we have a pretty good system here people)
As seen in the Michael moore documentary (probs exaggerated), US Health care & hospitals is run for profit by companies so fucking people over and letting them die is common place, which is fucked for the greatest country in the world ‘merica.

A few key points of my understanding on the issue, and after all the who ha I did a little bit of research on the topic (say 1 hour)
• Obama care costs nothing to the US government, it is put onto the employers
• Employers receive tax credits for the service
• It limits the amount health insurance companies can charge
• It ensures everyone has health care that costs under 8% of the average person’s salary PA
• Prevents any undue increases in the cost of health care by companies
• For the mega poor it bring that cost down to around 2% PA of an average salary
• It prevent insurance companies putting limits on how much a person can claim in a lifetime, i.e. oh no sorry we have already spent 30k on you in this life time so no more coverage
• However, It does fuck over smokers – which no longer bothers me :)


One of the key reasons this was brought in as 60% of bankruptcy’s in America was due to excessive health care bills, and I forget the % off the top of my head but a large portion was small business owners who employed further people so if they are bankrupt the others lose their job.

So if you look at the benefit alone of the sentence above for something that costs essentially nothing, it is a great piece of legislation brought in by Obama.

That is the facts I obtained from research, someone can feel free to correct me where they believe I am wrong.

[RMCprime]

Just watching the news here at the moment. I believe they just agreed to raise the limit by $986billion which should see them through until next February

[Tre-Cool]

the australian system is hardly great too.

I had to go into hospital to get some kidney stones broken up in may this year. despite having top cover through hcf (excluding dental) I could not get admitted to 3 public hospitals and had to go into murdoch on a friday night and was operated on saturday morning.

Between Medicare & Private HCF I was still 3.5K out of pocket, as it required 2 hospital visits. (They put stents between kidneys and bladder after breaking up the stones, and then removed them 4 weeks later)

3.5k is good portion of car spending money, I would have like to have had to spend. haha

Personally i would rather just spend the private money into public health, but have hospitals ran as a not for profit business.

[cplagz]

the australian system is hardly great too.

I had to go into hospital to get some kidney stones broken up in may this year. despite having top cover through hcf (excluding dental) I could not get admitted to 3 public hospitals and had to go into murdoch on a friday night and was operated on saturday morning.

Between Medicare & Private HCF I was still 3.5K out of pocket, as it required 2 hospital visits. (They put stents between kidneys and bladder after breaking up the stones, and then removed them 4 weeks later)

3.5k is good portion of car spending money, I would have like to have had to spend. haha

Personally i would rather just spend the private money into public health, but have hospitals ran as a not for profit business.

But what level of cover are you paying for? Top hospital .etc ? My old mans lifetime of top cover insurance premiums has paid itself off recently with 2x hip replacements .... at ~$70k they don't come cheap!