Jump to content

Recommended Posts

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

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

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
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

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
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
Originally Posted By: Queen of Chiba
That left hand part looks like Niseko and then Hakuba! veryshocked


the first one I assume, as Niseko is too flat to be on the second map. wink

trollololol
Link to post
Share on other sites

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
×
×
  • Create New...