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Global Markets Falter as US Government Shuts Down!

October 1, 2013

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  • The US is in crisis as the US Government shuts down!
  • Millions without work as of today!
  • Global chaos and certain doom inevitable, say experts.

The Global Economy is facing a catastrophe of unprecedented scale as the US Government plunges into crisis after failing to meet a 2:00pm (AEST) deadline to agree on policy funding.

The crisis means that around 800,000 workers will have no job to go to, and international icons like the Statue of Liberty, Grand Canyon and Smithsonian Institution will close their doors to the public…!!!

It’s the first time this has happened in 17 years, forcing almost one million people out of work and simultaneously battering financial markets around the world.

For most of the world, a government shutdown is very bad news, and is usually the result of revolution, invasion or disaster….!!

Even in the middle of its so-called “civil war,” the so-called “Syrian government” has continued to pay its bills and its workers’ wages.

For leaders of one of the most powerful nations on earth to willingly provoke a crisis that threatens to suspend public services and decrease economic growth is simply astounding.

CHAOS WILL FOLLOW SAY EXPERTS!

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riots like this could possibly be happening right now somewhere, maybe.

Despite the desperation of behind-the-scenes congressional talks to avert the paralysis of American government and the impact of that on the national and world economies, neither the Democrat-controlled Senate, backing President Barack Obama’s budget health reforms, nor the Tea Party-led Republicans in the House could reach a satisfactory agreement.

Any hope of resolution was effectively doomed when the Senate swiftly killed the latest House measure to delay President Obama’s health care law .

The White House budget director has ordered federal agencies to shut down after Congress failed to pass the national budget.

“Agencies should now execute plans for an orderly shutdown due to the absence of appropriations,” said Sylvia Mathews Burwell, director Of the White House Office of Management and Budget in a memo.

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WHAT DOES IT ALL MEAN?

The shutdown means all “non-essential staff” – about 800,000 of the total 2.1 million-strong federal workforce – will stay home from work in what’s known as ‘furlough’. Here’s how it would affect certain sectors:

• The White House and Congress: Facilities will remain open, although both are likely to lose some staff. Some US lawmakers, like Congresswoman Tulsi Gabbard of Hawaii, have pledged to return their salaries to the Treasury or donate them to charity.

• Museums and Parks: Smithsonian museums and all 368 sites in the National Park Service system will close.

• Economy: Senate Majority Leader Harry Reid has said that a temporary shutdown will “shatter our economy”. That may be hyperbole, but the impact could be significant. According to Macroeconomic Advisers, the effect of a two-week shutdown on fourth-quarter GDP growth would be 0.3 percentage points.

• National icons: Major national parks like Yellowstone, the Statue of Liberty, the Grand Canyon and Philadelphia’s Independence National Historical Park, home of Independence Hall and the Liberty Bell, will be off limits.

Plenty of other services will be affected such as clinical research trials, some pension payments, airline complaints, food safety inspections, mortgage processing, even weddings and the Puppy Press Conference will be called off.

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The move will have a huge impact on financial markets. Wall St is already lower and investors are bracing themselves for an even bigger meltdown on October 17, when the government will face its deadline on the national debt ceiling.

Events in the US are crucial because they are the bedrock that nearly every other investment is built upon, largely due to the assumption that the nation will always pay its debts.

Make no mistake…

WE ARE ALL DOOMED!

 

 

 

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20 Comments leave one →
  1. October 1, 2013 3:42 pm

    I didn’t know that “Whitehouse Down” was a documentary…

  2. October 1, 2013 3:47 pm

    Tea Party full of Mad Hatters, these are the people the Abbott government modelled themselves upon… What a disgrace, affordable healthcare is communism, another example of the lies and consistent failure of monopololy cartels megaphoning the free market greed mantra.. All or nothing talking about freedom and liberty whilst holding a gun to democracys head.. Disgusting

  3. Walrus permalink
    October 1, 2013 3:49 pm

    Wall Street will come to our rescue.

    I suspect even now a few calls are being from a few of the Big End of Towners to Tea Party Republicans telling them to pull their collective f**king heads in and pass the Budget.

    The alternative is that my Newcrest Mining shares will finally go up way beyond what this fool paid for them LOL

  4. October 1, 2013 4:21 pm

    Just posted about this at my shit blog (http://shitsgottastop.wordpress.com/). Just having a little rant… You explained it better.

  5. egg permalink
    October 1, 2013 4:27 pm

    We are lucky to have universal health care and hopefully the Democrats win, but I don’t see riots in the streets if things go awry. They are a passive lot … apart from the usual violent outbursts.

  6. TB Queensland permalink
    October 1, 2013 4:29 pm

    For leaders of one of the most powerful nations on earth to willingly provoke a crisis that threatens to suspend public services and decrease economic growth, then, is astonishing to many.

    Not to this “many” … this has – Robber Barons At Work – all over it!

    A crisis creates chaos that can then be controlled … whoopdee doo for the rich and famous (eg Wally – see above!)

    But eventually the plebs pay and The Robber Barons profit!

    Disgusting!

    No wonder American “citizens” take to the streets with their weapons! Its just a pity they target the wrong people!

  7. October 1, 2013 4:30 pm

    “You explained it better.”

    I think you said it more succinctly, shit…

    “America is fucked.”

  8. Splatterbottom permalink
    October 1, 2013 4:38 pm

    What’s the big deal? The Americans play this sort of brinkmanship all the time. Just the checks and balances playing out. Or maybe the system is broken.

    The problem is that they don’t have a GG like Sir John Kerr to put the matter back to the people to decide.

  9. October 1, 2013 4:44 pm

    “you said it more succinctly”

    Being succinct is easy. Especially when time is short…

    Thanks for swinging by and hitting some buttons!

  10. TB Queensland permalink
    October 1, 2013 4:52 pm

    What’s the big deal?

    Watch the markets over the next few days … 🙄

    The Chinese must be pissin’ themselves laughing at this crap …

  11. TB Queensland permalink
    October 1, 2013 4:53 pm

    The problem is that they don’t have a GG like Sir John Kerr …

    Thank christ for that …

  12. armchair opinionator permalink
    October 1, 2013 4:55 pm

    I don’t think obama should give in to the tabag nutters, let them wear the wrath and blame from the public for wrecking what was already a frail economy.
    They may not be re-elected for a while.
    Of course we have just elected a bunch of the newly converted to teabaggery crazies here, they’d be running with the same economy ruining idiocy if it wasn’t for abbott’s political cowardice [first term anyway].

  13. Splatterbottom permalink
    October 1, 2013 5:10 pm

    Didn’t this “running out of money” scenario happen before – you know when Barnaby Joyce was proved right? This is all just part of the crazy theatrics of US politcs.

  14. TB Queensland permalink
    October 1, 2013 5:12 pm

    Personally, I don’t give a shit what the Septic Tanks do to themselves … what pisses me off is the bastards constantly involving me and mine in their crap … from VN to the bloody GFC … another dark day for democracy hi-jacked by Fuckwits™ …

  15. TB Queensland permalink
    October 1, 2013 5:13 pm

    … when Barnaby Joyce was proved right?

    😯

  16. Splatterbottom permalink
    October 1, 2013 5:28 pm

    As I recall, Barnaby suggested that we needed a contingency plan for circumstances where the Yanks defaulted on their debt obligations. He was ridiculed by the know-nothing fuckwits in the media and was shortly thereafter proven right when the US came very close to defaulting.

    This happens from time to time because, for politcal reasons, Obama and the Democrats won’t put up a budget bill and so must rely on short term fixes voted on from time to time by Congress. So we have all these crises where the government keeps running out of money or where it hits its debt ceiling.

  17. TB Queensland permalink
    October 1, 2013 6:03 pm

    Thanks for that enlightening information, sb …

    BTW, when did the Septics default on their debt obligations?

  18. October 1, 2013 8:35 pm

    Debt ceiling? didn’t these people supposedly go to the moon….

  19. IPA permalink
    October 2, 2013 6:42 am

    ‘Even if a continuing resolution with an Obamacare amendment were to pass both chambers, the president has vowed to veto it.

    ‘“All the president has to do is say yes and the government is funded tomorrow,” House Speaker John Boehner (R-Ohio) said.’

  20. October 2, 2013 4:01 pm

    Stupid fucking conservative zealots.

    The only one’s that this type of obstinate shit will impress are the ideologues.

    http://www.news.com.au/business/markets/meet-ted-cruz-the-man-who-forced-the-united-states-government-to-shut-down/story-e6frfm30-1226731365330

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