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  1. #1
    Legendry Member milos's Avatar

    No consensus on the budget in the U.S. !!!

    Around 800,000 public sector employees went on a forced vacation. Cessation of funding the government could reduce economic growth in the fourth quarter.

    According to analysts' estimates shutdown for 3 to 5 weeks could reduce the GDP of the fourth quarter to 1.4%. Most economists think that the partial shutdown of the government will not last long and the chances to breastfeed until the fall minimum.

    The dollar is under pressure as the U.S. government began with a partial suspension of work after lawmakers failed to reach agreement on a new budget. This is the first partial shutdown of the government in the U.S. for 17 years.

    Moody's has warned that failure to agree on increasing the debt limit, resulting in worse outcome for financial markets rather than close the government.

  2. #2
    Legendry Member milos's Avatar
    The U.S. government has entered its second week blocks because no agreement about the budget. Markets are nervous about the situation. 17th October is the deadline for all that the U.S. Congress should raise the threshold of indebtedness from the current 16.7 trillion.

    Postpone of U.S. economic data releases are likely to affect the future of the Fed's stimulus program. President of the House of Representatives, John Boehner said that Republicans would not support the bills to fully open or increase government borrowing limit only if Democrats agree to talks on deficit reduction.

    China asked of the United States to take decisive steps to prevent the debt crisis. This is the only guarantee and security of Chinese investments. China is the largest creditor and the U.S. government is concerned about the developments in the United States, because the deadline is approaching 17th October to raise the borrowing limit.

  3. #3
    Legendry Member milos's Avatar
    Obama said that Republicans are threatening to trigger a new economic crisis by funding the opposition to the Law on Health Insurance(Obamaker) blocking the adoption of the budget.

    He confirmed that he had held talks with the first man of the Republicans in Congress, John Boehner invited the representatives of his party to pass a budget without conditions.

    He asked the representatives of the Republican Party to support the adoption of the budget and the extension of the borrowing limits.

    70% of Americans think Republicans are not right when it comes to the budget crisis, which is 7 % more than last week.

  4. #4
    Master Member SeasaltMcFish's Avatar
    I thought only we Dutch had a stupid government....

  5. #5
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    I thought only we Dutch had a stupid government....
    And now we know it is not just "our governments". It is, in fact, all governments.

  6. #6
    Legendry Member milos's Avatar
    President Barack Obama will nominate Janet Yellen to keep the most influential global central bank in the world. This is good news for the markets.

    If the US Senate confirms her nomination, it will be the first woman to lead the institution in its 100-year history. Second term as president Ben Bernanke, expires 31st January.
    Last edited by milos; 10-09-2013 at 09:53 AM.

  7. #7
    Legendry Member milos's Avatar
    Quote Originally Posted by M.J View Post
    And now we know it is not just "our governments". It is, in fact, all governments.
    The world's governments constantly causing the economic crisis. The tradition must be maintain and continued.

  8. #8
    Legendry Member milos's Avatar
    Republicans in the U.S. House of Representatives are considering a short-term increase in government borrowing in order to buy time for talks on a broader measure. Still unclear is how long will the increase be enough. Maybe it is needed a few weeks or months.

    Republicans in the House are required different conditions. This change is Obama's health care law in exchange for an agreement on the debt limit and funding measures. Republicans are more focused on measures to reduce the deficit and less so-called Obamaker.

  9. #9
    Legendry Member Michael Hodges's Avatar
    It's not much but today's olive branch helped to send the markets up by over 1.5%.

  10. #10
    Legendry Member milos's Avatar
    The negotiations were held over the weekend between President Barack Obama and the Republicans have not been successful. Increased concerns about the deal to raise the borrowing limit with the US and it will not be reached before the deadline, 17th October. United States of America will not be able to meet its financial obligations.

    The US dollar was lower against other major currencies due to concerns about US bankruptcy. The dollar was weakened slightly against the euro. Currency pair EURUSD rose to 1.35935. USDJPY fell to 98.08. GBPUSD rose to 1.60129. USDCHF slipped to 0.90622.

    Click image for larger version. 

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