US Government Shutdown

[South_Aussie_Hiker]

There appears to be a lot of optimism that this will be very short lived, but in the event of a long shutdown like 1995 (and given the debt extension which is required by mid October), I'm guessing we could see some good improvements in the AUD in the short term.

If it gets messy, might be a good time to buy some new gear

[GPSGuided]

Going up to 94c...

[Son of a Beach]

In reality it's quite different, but in some ways this is a little bit like the American equivalent of a double-dissolution in Australia in that they're both ways of dealing with a political stalemate between parties and houses.

One of the differences in the stalemate scenario between the two countries is that in Australia, if we have a stalemate we try again with new players on the teams, but in the USA, if they have a stalemate the players poke all the team sponsors in the eye and then hold their sponsors in a half nelson.

Last edited by Son of a Beach on Fri 04 Oct, 2013 11:59 am, edited 1 time in total.

[GPSGuided]

...if we have a stalemate we try again with new players, but in the USA, if they have a stalemate they poke the spectators in the eye and hold them in a half nelson.

All because of the introduction of Obamacare, one that is moving towards universal health care! And this is in the richest country in the world.

[South_Aussie_Hiker]

So the richest country in the world has a 17 trillion dollar debt?

[Strider]

Is it true that the US debt is larger than the sum of money in existence in the physical world?

[icefest]

So the richest country in the world has a 17 trillion dollar debt?

That's not how national debt works.
If you genuinely are interested to learn, I can tell you where to start.

Is it true that the US debt is larger than the sum of money in existence in the physical world?

I think this answers your question: http://www.federalreserve.gov/faqs/currency_12773.htm

There was approximately $1.21 trillion in circulation as of September 11, 2013, of which $1.16 trillion was in Federal Reserve notes.

Last edited by icefest on Tue 01 Oct, 2013 8:29 pm, edited 1 time in total.

[GPSGuided]

Debt = Money. Without debt, there is no money and wealth.

[South_Aussie_Hiker]

The winky face indicated my comment was a joke.

But thanks for the offer!

[Strider]

Is it true that the US debt is larger than the sum of money in existence in the physical world?

I think this answers your question: http://www.federalreserve.gov/faqs/currency_12773.htm

No this only gives currency in circulation for the US alone.

[GPSGuided]

LOL! As long as I can still afford Montbell, I'm happy. Wait, I don't have any Montbell gears.

[Hallu]

For those who didn't know, that means all their National Parks are shut down from now on. Bad time to go hiking over there.

[GPSGuided]

For those who didn't know, that means all their National Parks are shut down from now on. Bad time to go hiking over there.

Nay, just walk in and you'll be guaranteed to not get challenged on your walk.

[Overlandman]

From ABC News
http://www.abc.net.au/news/2013-10-01/u ... wn/4992224

Around 800,000 public servants have begun an indefinite period of unpaid leave, as politicians bicker over who is to blame for the first US government shutdown in 17 years.
The situation was triggered after the Republican-controlled House of Representative refused to pass a bill on spending measures unless president Barack Obama delayed his signature healthcare reforms.
The impasse means funding for the majority of government services has stopped until the standoff can be resolved.

Talks had continued until almost the last minute, but as America begins to wake up, museums and national parks will be closed and thousands of workers may be sent home.

[GPSGuided]

I prefer double dissolution.

[Strider]

I prefer double dissolution.

+1

And in Australia's case I wish they would just hurry up and call it!

[perfectlydark]

Kinda reminds me of the old days with Russia paying their armed forces in vodka. Who would have thought that in the early 21st century America wouldnt have enough money to run goverment services

[GPSGuided]

Who would have thought that in the early 21st century America wouldnt have enough money to run goverment services

No, no, no. It's not about no money but ideology on how the money is spent. The Republicans are blocking Obamacare, which included subsidies for services that relates to abortion amongst others. You know how the conservatives in that society thinks of abortion. Blocking the budget is but a political ploy to get what they wanted.

[perfectlydark]

Yeah but if they had enough money they could spend it on both things..ie health AND government services. I get this is an ideology thing but seriously when its pay for one or the other thats a pretty *&^%$#! poor situation

[Strider]

Yeah but if they had enough money they could spend it on both things..ie health AND government services. I get this is an ideology thing but seriously when its pay for one or the other thats a pretty *&^%$#! poor situation

You're still off the mark. Its not pay for one or the other, its how to best pay to one or the other.

[GPSGuided]

That's how their system works. They have more than enough money sloshing around to pay for what's needed. The debt ceiling is just used by some of the conservatives in public to dress up their ideological objectives. While the UK trumpeted their NHS to the world at the London Olympics, Obamacare proposal is still only a fraction of what NHS (or our Medicare) delivers and the US still has no universal health care for its citizen.

[perfectlydark]

I may be off the mark but please explain how shutting down government services is the only option if theres plenty of money "sloshing around". I do not understand why a shutdown would be needed if money is not the issue

[GPSGuided]

I may be off the mark but please explain how shutting down government services is the only option if theres plenty of money "sloshing around". I do not understand why a shutdown would be needed if money is not the issue

There's money around but just not approved for use by the congress. Without an approved budget, no spending is allowed apart from those with special authority for essential services. A procedural matter.

[perfectlydark]

Hmm bizare situation, thanks for explaining. Cant say I still fully understand but little in relation to this stuff makes sense to me at the best of times lol

[GPSGuided]

Hmm bizare situation, thanks for explaining. Cant say I still fully understand but little in relation to this stuff makes sense to me at the best of times lol

Take it to a family husband and wife situation. Unless the lady of the house approves the purchase of a fancy new expensive tent, the man of the house will suffer the wrath of her ladyship. So that is the "rule".

[tasadam]

Take it to a family husband and wife situation. Unless the lady of the house approves the purchase of a fancy new expensive tent, the man of the house will suffer the wrath of her ladyship. So that is the "rule".

I've heard of Parliament House being called the house of cards, so, taking it to a family husband and wife situation, it's like a game of cards.
In the beginning you have two hearts and a diamond, and at the end you are wanting a club and a spade...

[neilmny]

Take it to a family husband and wife situation. Unless the lady of the house approves the purchase of a fancy new expensive tent, the man of the house will suffer the wrath of her ladyship. So that is the "rule".

I've heard of Parliament House being called the house of cards, so, taking it to a family husband and wife situation, it's like a game of cards.
In the beginning you have two hearts and a diamond, and at the end you are wanting a club and a spade...

[Smeagle]

So the richest country in the world has a 17 trillion dollar debt?

Only because they print for funds on off "act of aggression/supplement on drugs" on the country, wish I had a money tree... I could buy that tree house I've always wanted in the Daintree.. hehe

[South_Aussie_Hiker]

You could be easily mistaken for thinking their post system has been shut down (even though it hasn't).

Twice as expensive as postage from the UK and takes about four times longer too.

[GPSGuided]

You could be easily mistaken for thinking their post system has been shut down (even though it hasn't).
Twice as expensive as postage from the UK and takes about four times longer too.

All the post 911 security measures and comparatively lower bulk carriage capacity on the trans-pacific route. Yes, gets to me every time too.