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Is the US government shutdown going to impact us in any way?

alexd

Administrator
Staff member
Could it crash the Toronto housing market or the TSX, the VSE or anything like that? Or will it just be a minor inconvenience for Canadians who happen to be visiting the USA?
 

alexd

Administrator
Staff member
Well they at least must be saving a ton of cash on civil service wages... Or do they have to pay those, even for the hours of the closure?
 
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alexd

Administrator
Staff member
i'd be more concerned with their Debt Ceiling deadline in a couple weeks.
Don't they just keep raising the debt ceiling every few months now? When will it ever stop? Or is it too late to even consider that now....
 

DJ_Science

TRIBE Member
I am particularily concerned about the shutdown of NSF and a number of other science funding agencies. A number of my collaborators are being screwed by this and it leaves me pretty fearful next year when i am working in that system...
 
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Boss Hog

TRIBE Member
Debt ceiling deadline is in 1 week. If they grow the fuck up before then maybe they can fix it.

haha.

Not impressed, I get paid in USD.
 

kuba

TRIBE Member
This could be a great wake-up call to see how fat the government is, how very inefficient it is, how unions kill efficiency, how we can make things a lot leaner, and how the US could save a lot of money by not paying these overpaid bums.

ANNNNND, go!
 

Sal De Ban

TRIBE Member
I've been getting paid in wheat futures, which I expect to significantly increase in value. It's like settlers of kattan over here.
 
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alexd

Administrator
Staff member
I have been reading what what-if the US defaults horror stories all morning. Some liken it to a crazy geometric progression similar to what happens in a bank run, where more and more people try to take out their money at once, crashing the bank.

Confidence is a fickle thing, but I suspect the US is too big to fail.
 

DJ elektron-

TRIBE Member
Live Blogging Day1 of the Casey Summit 2013 Conference | Peak Prosperity

"In the end, gold may likely be the only practical way to restore confidence in a reserve currency. Rickards is predicting $7,000/oz gold (in certain circumstances, he sees potential for gold prices as high as $44,000/oz!)

Sadly, sees collapse of markets and social order as quite possible as this unfolds. "We return to a gold standard by a messy process, vs a calm one"."
 
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alexd

Administrator
Staff member
If Gold goes up to $2k an ounce I will start teaching metal detecting seminars.
 
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alexd

Administrator
Staff member
Talk of the US defaulting on its debt is becoming more frequent. A default has gone from 'impossible' in a lot of the US mainstream media to 'unlikely'. I wonder what the Chinese are thinking about all this? They are the major creditors right?
 

Blysspluss

TRIBE Member
I've been getting paid in wheat futures, which I expect to significantly increase in value. It's like settlers of kattan over here.
Excellent year for wheat. EXCELLENT. There's so much out here that farmers have been out of bin space...selling #1 grade as feed for lack of space.
 

alexd

Administrator
Staff member
The Chinese are grumbling today about the US and suggesting the US government gets it's act together before 'Default Day' on Oct 17.

What would happen to them if the US defaults? Would US debt have no value any more? What recourse would China have if the US defaults? Would it be like a bankruptcy where money owing is basically written off with the stroke of a pen?
 
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