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Old 08-13-2013, 12:15 PM
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Default The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Anythin

Now add this to the future of Americas Economics situation, And if they can not reach an accord what will we reap?

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..The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Anything We Can Recall

By Joe Weisenthal | Business Insider – Mon, Aug 12, 2013 6:05 AM EDT..

Wikimedia Commons, Alexsh

A couple weeks ago we wrote about the fact that the US is coming up to an unusual of significant econo-political events unlike anything we can recall.
Starting sometime in September, we can expect to see the following:
•A fight over the government's budget, leading to a possible government shutdown.
•A fight over the debt ceiling.
•The beginning of Fed tapering (the reduction of large-scale asset purchases, known as Quantitative Easing)
•A nomination for a Fed Chair to replace Ben Bernanke.

Each one of these could be economically significant to varying degrees. Together they're likely to be very exciting.

Over at POLITICO, Ben White and MJ Lee have a big story up about why this time, Wall Street should be afraid of the fiscal fight.

Of course the street expects that everything will get resolved at the last second (like it always does) but White and Lee argue that this time could be different.

The reasons why: The GOP is even more fractured than it has been in recent fights, and this time the Democrats may go to the mat as well, as they refuse to give an inch. That the Democrats may not be willing to bargain at all over the debt ceiling seems like the big dynamic that makes this time different than those other times.

And even if the two parties find a path past Oct. 1 and avoid a government shutdown, raising the debt ceiling will be no easy task. Republicans have not backed off their mantra of a dollar in spending cuts for every dollar of debt-ceiling increase. But if they pass such a bill out of the House, it is going nowhere in the Senate. Democrats have no appetite for more cuts, given that annual deficits have been sliced in half and the sequester spending cuts are already taking a bite out of economic growth with no compromise on the horizon.

“It’s not negotiable. It should be done,” said Sen. Sherrod Brown (D-Ohio) about raising the debt ceiling. “Business everywhere believes that this is a bad thing for the country. The Republicans, they call themselves the pro-business party. They should act that way.”

The White House is also likely to stick hard to its vow not to negotiate over the debt ceiling.

This is a point that Eurasia Group analyst Sean West made back in mid-July:

Democrats are increasingly convinced that this is the moment to "break the fever" of sequestration and debt ceiling pay-offs. They will attempt to break up the upcoming deadlines by cutting a short-term deal on the 30 September continuing resolution-insisting on a clean debt ceiling increase with no pay-off for Republicans-and then gearing up for battle later in the fall when the short-term CR expires if necessary to get a sequester deal before January. In reality, Democrats would prefer to trade mandatory cuts and other piecemeal fiscal reforms for a sequester offset that can be implemented around the same time as the debt ceiling, without a direct negotiation on the latter issue. But Democrats have less appetite to agree to large-scale reforms amid a declining deficit: If Republicans demand too high a price for the Democrats' key goal of offsetting the sequester, Democrats, are willing to threaten shutdown even though they don't actually want it.

Anyway, lots coming up. Enjoy the rest of your summer.
The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Anything We Can Recall - Yahoo! Finance
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Old 08-13-2013, 12:48 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

Is Economic Gloom & Doom the Republican Global Warming push?


Seems like whichever economist or rich person is willing to pronounce "The sky is going to fall", that guy gets a microphone and a podium. An Al Gore equivalent...

Ironically, under the previous administration, the right was refusing to admit how bad the problem was as we were actively falling into the economic hole.
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Old 08-13-2013, 02:10 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

Gee foundit66 I excepted more from you than this gibberish, "Is Economic Gloom & Doom the Republican Global Warming push?"

Sense both parties are involved in these talks. I guess we will see much more of the same from Dem's to....

If it walks like a duck, waddling along then it is for sure a Leftist Duck!
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Old 08-13-2013, 10:36 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

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Now add this to the future of Americas Economics situation, And if they can not reach an accord what will we reap?


The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Anything We Can Recall - Yahoo! Finance
Joe Weisenthal is the Editor in Chief of Business Insider which has 15,000,000 viewers. He is considered one of the top economists in the business. If he says something, you'd better pay attention. He is that good.
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Old 08-14-2013, 11:36 AM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

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Joe Weisenthal is the Editor in Chief of Business Insider which has 15,000,000 viewers. He is considered one of the top economists in the business. If he says something, you'd better pay attention. He is that good.


Aw a fresh breath of air.... 40yearfan, you got my point. As the first paragraph has pointed out.

Quote:
A couple weeks ago we wrote about the fact that the US is coming up to an unusual of significant econo-political events unlike anything we can recall.
Starting sometime in September, we can expect to see the following:
•A fight over the government's budget, leading to a possible government shutdown.
•A fight over the debt ceiling.
•The beginning of Fed tapering (the reduction of large-scale asset purchases, known as Quantitative Easing)
•A nomination for a Fed Chair to replace Ben Bernanke.

Each one of these could be economically significant to varying degrees. Together they're likely to be very exciting.
How can both parties not see this is far to much at one time? I think both Parties need to step back quickly and talk about what they can get done together to ease the effects that the above can bring.

In simple terms each side needs to find a path that can bring them together instead of more of the same, keeping them apart.

This is what our society wants and they are the bosses. Unless we the people just don't mean a thing any more.

And if this is the case then I suggest another revolution, as the Constitution allows. Yet I want no part of that either.
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Old 08-15-2013, 12:24 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

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Is Economic Gloom & Doom the Republican Global Warming push?
What you describe, quite cavalierly, as "economic Gloom & Doom," might be described more accurately as realism.

The fact is, a country--just like an individual family--cannot continue to spend more than it takes in ad infinitum. (True, the government--unlike the individual family--may print lots and lots of funny money, and never be charged with counterfeiting. But the certain result of such a policy is hyper-inflation.)

Oh, but perhaps I ought not mention that inconveninet fact. It might just be labeled "Gloom & Doom," and summarily dismissed...
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Old 08-16-2013, 12:28 AM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

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Aw a fresh breath of air.... 40yearfan, you got my point. As the first paragraph has pointed out.



How can both parties not see this is far to much at one time? I think both Parties need to step back quickly and talk about what they can get done together to ease the effects that the above can bring.

In simple terms each side needs to find a path that can bring them together instead of more of the same, keeping them apart.

This is what our society wants and they are the bosses. Unless we the people just don't mean a thing any more.

And if this is the case then I suggest another revolution, as the Constitution allows. Yet I want no part of that either.
Absolutely right. This isn't a right or left problem. It is a problem for ALL Americans and needs to be addressed immediately.
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Old 08-18-2013, 03:52 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

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Absolutely right. This isn't a right or left problem. It is a problem for ALL Americans and needs to be addressed immediately.
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Old 08-18-2013, 04:37 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

The Jimbo prediction:

Obama will give a speech stating that we do to need to raise the ceiling and his bookeepers have told him that the deficit is reduced.

Boehner, supported by Cantor and the rest of the RINOS will bring out the breeding plumage and state that there will be no compromisre, and this time we really mean it.

Reid will state that he will not bring that proposal to a vote, whatever the proposal is.

Obama will go on vacation, or spend the next couple of weeks playing video games with the kiddies, and claim that he has nuttin to do wit da budget.

At the last possible moment, a bipartisan deal will be reached that kicks the can down the road for another 6 months. And, a crisis was avoided.

Obama will sign it.

Both sides will state that while they don't like the deal, this is the best they could get.

Everybody will go on a much needed break.
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Old 08-18-2013, 08:05 PM
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Default Re: The US Is Weeks Away From A Confluence Of Risky Economic Events That's Unlike Any

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Originally Posted by jimbo View Post
The Jimbo prediction:

Obama will give a speech stating that we do to need to raise the ceiling and his bookeepers have told him that the deficit is reduced.

Boehner, supported by Cantor and the rest of the RINOS will bring out the breeding plumage and state that there will be no compromisre, and this time we really mean it.

Reid will state that he will not bring that proposal to a vote, whatever the proposal is.

Obama will go on vacation, or spend the next couple of weeks playing video games with the kiddies, and claim that he has nuttin to do wit da budget.

At the last possible moment, a bipartisan deal will be reached that kicks the can down the road for another 6 months. And, a crisis was avoided.

Obama will sign it.

Both sides will state that while they don't like the deal, this is the best they could get.

Everybody will go on a much needed break.
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