It Finally Happened! Government Shutdown Begins

After years of fake drama in D.C. over government spending impasses (when we know both parties actually love the idea of bigger government), it finally happened:  Shutdown.  Now, this shutdown in itself is not necessarily an issue, especially if it lasts less than a couple weeks.  However, if this drags on for a considerable amount of time (months), then there are some serious implications which many people wrongly downplay.  For example, US debt issuance and the foreign purchasing or holding of Treasury bonds may suffer a blow at a time when the Treasury market is highly sensitive to crisis.  Also, the moment is potentially ripe for a false flag attack, as "government shutdown" can be blamed for Federal inability to "stop the terrorists", and the call for MORE government might suddenly resonate with the public.  Alt-Market will be watching this development carefully to see if it fizzles, or escalates...

 

The U.S. Senate was short of the votes needed to approve a bill to keep the federal government running as a midnight deadline loomed on Friday night, although high-level negotiations continued.

In a dramatic late-night session, Senate majority leader Mitch McConnell left voting open despite appearing to fall well short of the 60 votes needed to keep alive a stopgap bill that would fund the government through Feb. 16.

As the clock ticked toward midnight, McConnell and Senate Democratic leader Chuck Schumer huddled in negotiations in a room just off the Senate floor.

Without some type of funding bill, the U.S. government technically will run out of money right after midnight, on the first anniversary of President Donald Trump’s inauguration. That would leave scores of federal agencies across the country unable to continue operating, and hundreds of thousands of “non-essential” federal workers would be put on temporary unpaid leave.

The Republican-controlled House of Representatives passed a stopgap funding measure on Thursday. But Republicans then needed the support of at least 10 Democrats to pass the bill in the Senate.

 

READ MORE HERE:

https://www.reuters.com/article/us-usa-congress-shutdown/government-shutdown-looms-as-senate-short-of-votes-for-spending-bill-idUSKBN1F814Y

 

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Very helpful Insight
written by laber , January 22, 2018

And Smith, wrong once again!

Shutdown already over.

Bwuhahahahah.


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Brandon Smith
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written by Brandon Smith , January 22, 2018

@Laber

I wasn't wrong at all. I pointed out what would happen if the shutdown continued. I never said that it would. Also, a Senate punt for three weeks hardly fixes the problem, but being detrimentally ignorant, you don't seem to grasp that little fact, let alone possess basic reading comprehension.

Regards : )

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written by PrepperPlus , January 22, 2018

+Laber

Wow Laber, where did Brandon make a prediction anywhere in his summary? He even said that the whole thing might "fizzle". Did you even read it before making such a stupid comment?

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Brandon Smith
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written by Brandon Smith , January 22, 2018

@Prepperplus

He obviously didn't read it first before commenting. He just foolishly assumed I predicted this particular shutdown was going to last by reading the title, which I did not. I also find it rather amusing when these trolls, trapped in their sad little lives with nothing better to do, jump to say "you were wrong" without grasping what I originally said in the first place. Thinking before speaking would be a good trick for these people to try out for a while.

Beyond that, just because the Senate postponed the issue for a few weeks does not mean it won't return early next month. The problem of the US debt ceiling is not going away anytime soon. But some people are indeed too stupid to understand basic economic dynamics.

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