Curt 1 Posted July 28, 2011 Share Posted July 28, 2011 Worrying times with Washington playing poloitics with the economy.. of the world really. Come on guys, get something sorted please, we do not need another meltdown. -- A day of volatile trading saw gold touch a new high of $1,630, the FTSE 100 fall more than 1pc and US government bonds sold off as the world's eyes again focused on a deeply divided Washington. President Barack Obama, as well as the Republican House of Representatives and the Democratic Senate, are running out of time to agree to lift the country's $14.3 trillion debt ceiling. The US Treasury has said that it won't be able to pay all its bills by next Tuesday, raising the spectre of the country's first major default in its history. While there was no sign of panic selling in any market, the breezy confidence that investors once had over a deal being struck is fading with each passing day. Leaders in Washington have been engaged in fruitless talks for weeks, and yesterday offered markets little hope the impasse will be resolved before the weekend. "The uncertainty that is out there is obviously troubling for people - the thing with the debt ceiling and just our own fiscal structure in the country is you have this overhang, this cloud," said Jason Clark, a fund manager at AFAM. The White House and top Congressional leaders have been working on an ambitious plan to cut the country's deficit by up to $4 trillion as a condition of raising the debt ceiling. Since the collapse of talks between President Obama and John Boehner, the Speaker of the House of Representatives and the US's top Republican, late last week, politicians from both sides have instead worked on competing plans to raise the country's borrowing limit. Public comments from each side suggested the divisions between them are hardening as the deadline approaches. Link to post Share on other sites
brit-gob 9 Posted July 28, 2011 Share Posted July 28, 2011 Don't worry, Curt, they are busy on the case. Quote: The White House has lightened the tone of the debt ceiling debate by joining an online craze known as "Rickrolling". Responding to criticism during a Twitter chat, the White House offered users a link to "something more fun". The link pointed to a YouTube video of UK pop singer Rick Astley's 1987 number one hit Never Gonna Give You Up. Years of "Rickrolling", or duping web users into clicking a link to that song, has seen almost 36.5 million people watch Astley's YouTube video. Link to post Share on other sites
grungy-gonads 54 Posted July 28, 2011 Share Posted July 28, 2011 I hope Obama and all the important parties took some time out to twitter their thoughts on Amy Winehouse. Surely they did, didn't they? Link to post Share on other sites
Mantas 3 Posted July 29, 2011 Share Posted July 29, 2011 The $3 Trillion spent on the Iraq war would be real handy right now. Link to post Share on other sites
RobBright 35 Posted July 29, 2011 Share Posted July 29, 2011 Does this really mean anything? It's not like the US owes money on this to other countries does it? The funny thing is, that the the republicans are actively trying to ensure that the US defaults, but they don't have any real plan on how to get back from the brink, do they? Link to post Share on other sites
BagOfCrisps 24 Posted July 29, 2011 Share Posted July 29, 2011 It means a lot. Well, actually mean a lot or not, it will mean a lot. If that makes sense. If the shit hits the fan, the world economy is in for another trip up. Link to post Share on other sites
Tubby Beaver 209 Posted July 30, 2011 Share Posted July 30, 2011 Obama had better start taking bowing lessons......... Link to post Share on other sites
RobBright 35 Posted July 30, 2011 Share Posted July 30, 2011 Originally Posted By: BagOfCrisps It means a lot. Well, actually mean a lot or not, it will mean a lot. If that makes sense. If the shit hits the fan, the world economy is in for another trip up. But why does it? That's what I don't understand... Link to post Share on other sites
BagOfCrisps 24 Posted July 31, 2011 Share Posted July 31, 2011 Not sure I do. Just does. Link to post Share on other sites
2pints-mate 0 Posted August 1, 2011 Share Posted August 1, 2011 They'll make a deal. Too much at steak. Link to post Share on other sites
2pints-mate 0 Posted August 1, 2011 Share Posted August 1, 2011 Stake, even! Link to post Share on other sites
HelperElfMissy 42 Posted August 1, 2011 Share Posted August 1, 2011 They have left it until the death knell though! Financial markets are virtually paralyzed with fear. Actually paralyzed would be good...they are rapidly descending. Banks are giving such a hard time to business, even here in the relatively unaffected West of Australia that businesses around us are shutting their doors. Hurry up and make the deal already! Link to post Share on other sites
Saitaman 1 Posted August 1, 2011 Share Posted August 1, 2011 If the US defaults, basically cost of everyting in $ will increase.... not good for world. Link to post Share on other sites
minus 1 Posted August 2, 2011 Share Posted August 2, 2011 Quote: US President Barack Obama says Republican and Democratic leaders have reached an agreement on raising the US debt limit and avoiding default. Under the proposed deal, the US debt ceiling would rise by up to $2.4tn. In return, Congress has committed to reducing the deficit by a similar amount over 10 years, and a special bipartisan committee will be set up to agree cuts. Congress has to approve the deal. Votes in both houses are expected on Monday. The BBC's Jane O'Brien says the package is still likely to be a tough sell, with some Republicans and Democrats in the House of Representatives remaining opposed to different aspects. Link to post Share on other sites
Mantas 3 Posted August 2, 2011 Share Posted August 2, 2011 Here's some nice graphs with lovely coloured lines. Link to post Share on other sites
Queen of Chiba 0 Posted August 2, 2011 Share Posted August 2, 2011 That left hand part looks like Niseko and then Hakuba! Link to post Share on other sites
RobBright 35 Posted August 2, 2011 Share Posted August 2, 2011 Originally Posted By: Queen of Chiba That left hand part looks like Niseko and then Hakuba! the first one I assume, as Niseko is too flat to be on the second map. trollololol Link to post Share on other sites
tokabochi 9 Posted August 3, 2011 Share Posted August 3, 2011 Are we safe yet? Link to post Share on other sites
BagOfCrisps 24 Posted August 3, 2011 Share Posted August 3, 2011 Looks like it was avoided. phew! Link to post Share on other sites
Error404 0 Posted August 3, 2011 Share Posted August 3, 2011 Default avoided but markets taking a bashing. Link to post Share on other sites
Tubby Beaver 209 Posted August 3, 2011 Share Posted August 3, 2011 Just as well, cos Obama hasn't quite mastered the "I'm really sorry bow" yet Link to post Share on other sites
@tokyo 14 Posted August 3, 2011 Share Posted August 3, 2011 Has he got nits? Link to post Share on other sites
Curt 1 Posted August 5, 2011 Author Share Posted August 5, 2011 Looks like that meltdown is happening anyway. Link to post Share on other sites
pie-eater 207 Posted August 5, 2011 Share Posted August 5, 2011 Bad news, I'm afraid.. My dad says it'll all recover next week. No worries. He's known for talking bollocks with stuff like this, bless him, so the outlook ain't good. Link to post Share on other sites
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