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Author Topic: U.S. Government Shutdown  (Read 18512 times)

Offline Achas Veachas

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Re: U.S. Government Shutdown
« Reply #100 on: October 10, 2013, 09:45:27 AM »
Quote from: meshugener on October 10, 2013, 09:33:54 AM
One interesting point:
Before the sequesteration went into effect, the gov't and the media scared us all to death, if that happens, the US will never be the same.
Fast fwd, 6 months later, we all live and laugh.
Not that nobody was affected, but still, its not the end of the world.

Same story happened with the gov't shutdown, "if the gov't shuts down, we'll go back into recession! the entire US government will freeze! bla bla bla!
And... after two weeks: nothing devastating.

Now comes the debt ceiling debate...
Okay, that's totally different! If we don't raise the debt limit, the markets will be in panic, we'll lose our credibility, the financial system will collapse!...
Now I see some republican senators changed tone, saying the world will not come to an end... All what's going to happen is the gov't will not spend more than it takes in, aka balanced budget...

Wonder if they're right.
Quote from: Ergel on October 10, 2013, 09:35:22 AM
Doesn't sound like it. The bond markets will be thrown into turmoil. Remember what happened last time the us was downgraded? It'll much worse this time
וכל אלו הדברים וכיוצא בהן--לא יידע אדם היאך יהיו, עד שיהיו:  שדברים סתומים הן...
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Offline SamKey

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Re: U.S. Government Shutdown
« Reply #101 on: October 10, 2013, 10:10:47 AM »
Quote from: skyguy918 on October 10, 2013, 09:39:42 AM
For those who don't know the reference, the bottom pic is Roy from The IT Crowd, which is a hilarious British comedy that ran for several seasons a few years back. A running joke in the show is that no matter what the call is about the IT guys always ask, 'Have you tried turning it off and on again?" (you can check out a youtube compilation here - the pic is from the first clip) It was Chris O'Dowd's first significant role, and since then he's been in a several small roles in bigger movies, most notably the cop in Bridesmaids.
:-[ :-[ didn't read it right
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Offline meshugener

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Re: U.S. Government Shutdown
« Reply #102 on: October 10, 2013, 10:38:02 AM »
Quote from: Ergel on October 10, 2013, 09:35:22 AM
Doesn't sound like it. The bond markets will be thrown into turmoil. Remember what happened last time the us was downgraded? It'll much worse this time
Says who? The same gov't/media/economists/analysts who said similar things prior to the sequester and shutdown.

Your comparison to the last time it almost happened is not entirely comparable, this time it comes along with a government shutdown, so they would offset the cost of paying the bills/bonds due by not having to pay salaries for 800k federal employees.
Not sure the math is correct, but that's what one republican senator said.
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Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #103 on: October 10, 2013, 10:43:07 AM »
Quote from: meshugener on October 10, 2013, 10:38:02 AM
Says who? The same gov't/media/economists/analysts who said similar things prior to the sequester and shutdown.

Your comparison to the last time it almost happened is not entirely comparable, this time it comes along with a government shutdown, so they would offset the cost of paying the bills/bonds due by not having to pay salaries for 800k federal employees.
Not sure the math is correct, but that's what one republican senator said.
Offsetting costs would go into the rating agency's determination of whether to downgrade the US, the effect of a downgrade itself wouldn't be mitigated by that factor.
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Online aygart

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Re: U.S. Government Shutdown
« Reply #104 on: October 10, 2013, 11:31:50 AM »
Quote from: meshugener on October 10, 2013, 09:33:54 AM
One interesting point:
Before the sequesteration went into effect, the gov't and the media scared us all to death, if that happens, the US will never be the same.
Fast fwd, 6 months later, we all live and laugh.
Not that nobody was affected, but still, its not the end of the world.

Same story happened with the gov't shutdown, "if the gov't shuts down, we'll go back into recession! the entire US government will freeze! bla bla bla!
And... after two weeks: nothing devastating.

Now comes the debt ceiling debate...
Okay, that's totally different! If we don't raise the debt limit, the markets will be in panic, we'll lose our credibility, the financial system will collapse!...
Now I see some republican senators changed tone, saying the world will not come to an end... All what's going to happen is the gov't will not spend more than it takes in, aka balanced budget...

Wonder if they're right.
Maybe the republicans are on to something about smaller govt.
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Offline YankyDoodle

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Re: U.S. Government Shutdown
« Reply #105 on: October 10, 2013, 11:44:00 AM »
Quote from: meshugener on October 10, 2013, 10:38:02 AM
so they would offset the cost of paying the bills/bonds due by not having to pay salaries for 800k federal employees.

They will have to pay those employees at some point!
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Offline Achas Veachas

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Re: U.S. Government Shutdown
« Reply #106 on: October 10, 2013, 11:45:08 AM »
Quote from: YankyDoodle on October 10, 2013, 11:44:00 AM
They will have to pay those employees at some point!
Just because they did in the past, doesn't mean they have to...
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Offline Ergel

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Re: U.S. Government Shutdown
« Reply #107 on: October 10, 2013, 11:52:52 AM »
Quote from: Achas Veachas on October 10, 2013, 11:45:08 AM
Just because they did in the past, doesn't mean they have to...
They paid workers who didn't work in the past? I thought only those that work get compensated
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Offline Achas Veachas

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Re: U.S. Government Shutdown
« Reply #108 on: October 10, 2013, 12:09:52 PM »
Quote from: Ergel on October 10, 2013, 11:52:52 AM
They paid workers who didn't work in the past? I thought only those that work get compensated
I'm pretty sure everyone got paid in the end.
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Offline Chaikel

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Re: U.S. Government Shutdown
« Reply #109 on: October 10, 2013, 03:21:41 PM »
Quote from: Achas Veachas on October 10, 2013, 12:09:52 PM
I'm pretty sure everyone got paid in the end.
+1
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Offline Ergel

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Re: U.S. Government Shutdown
« Reply #110 on: October 10, 2013, 07:40:03 PM »
That's ridiculous. I thought we were at least saving some money on this.
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Offline CountValentine

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Re: U.S. Government Shutdown
« Reply #111 on: October 10, 2013, 09:14:01 PM »
Quote from: Achas Veachas on October 10, 2013, 12:09:52 PM
I'm pretty sure everyone got paid in the end.
Yes and they will all get paid again. It's the American way!
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Offline DovtheBear

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Re: U.S. Government Shutdown
« Reply #112 on: October 10, 2013, 09:24:16 PM »
Quote from: CountValentine on October 10, 2013, 09:14:01 PM
Yes and they will all get paid again. It's the American way!
What will they pay them with?
By the time this is over, toilet paper might be worth more than the dollar. :)
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Offline CountValentine

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Re: U.S. Government Shutdown
« Reply #113 on: October 10, 2013, 09:30:21 PM »
Quote from: DovtheBear on October 10, 2013, 09:24:16 PM
What will they pay them with?
By the time this is over, toilet paper might be worth more than the dollar. :)
I hope not. Dollar bills are kind of rough.
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Offline Dave321

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Re: U.S. Government Shutdown
« Reply #114 on: October 10, 2013, 09:54:06 PM »
Quote from: Ergel on October 10, 2013, 07:40:03 PM
That's ridiculous. I thought we were at least saving some money on this.

+100

its nuts. they should shut it down for good.
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Offline Achas Veachas

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Re: U.S. Government Shutdown
« Reply #115 on: October 10, 2013, 10:01:49 PM »
Quote from: DovtheBear on October 10, 2013, 09:24:16 PM
What will they pay them with?
By the time this is over, toilet paper might be worth more than the dollar. :)
Gotta stock up... :P
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Offline DovtheBear

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Re: U.S. Government Shutdown
« Reply #116 on: October 10, 2013, 10:22:25 PM »
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Offline Ergel

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Re: U.S. Government Shutdown
« Reply #117 on: October 11, 2013, 12:52:41 AM »
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Offline skyguy918

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Re: U.S. Government Shutdown
« Reply #118 on: October 11, 2013, 12:57:13 AM »
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Offline Ergel

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Re: U.S. Government Shutdown
« Reply #119 on: October 11, 2013, 01:03:23 AM »
Quote from: skyguy918 on October 11, 2013, 12:57:13 AM
Sweet! Silver's first piece since joining ESPN/Grantland.
Yup, says they will open full time at the beginning of next year

Basically says we have no idea what the impact of the shutdown will be but it's likely to be negligible.
He does point out that none of his analysis applies if the U.S. defaults
« Last Edit: October 11, 2013, 01:13:03 AM by Ergel »
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