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Friday, October 11, 2013

Now How Long Do You Think the Shutdown Will Last?

Posted by on Fri, Oct 11, 2013 at 4:13 PM

Two weeks ago, 373 of you thought that the shutdown would be over by now. You were wrong. How's the shutdown going now? Huffington Post says:

The Associated Press reported that House GOP leaders were offering a framework to not just pass a short-term increase in the nation's $16.7 trillion debt limit, but to end the 11-day government shutdown, cut entitlement programs and make changes to Obamacare.

Sources told HuffPost, however, that such an assessment may be premature, as House Republicans were still waiting to hear back from the White House on their Thursday offer to raise the debt limit for six weeks in return for the administration starting budget negotiations. They also presented some ideas about a framework for further talks.

This does not sound hopeful to me. How about you?


Comments (33) RSS

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Will in Seattle 1
My Blue Rangers are almost ready to ride south and torch Johhny Reb
Posted by Will in Seattle on October 11, 2013 at 4:24 PM · Report this
Joe Szilagyi 2
It requires at LEAST 24-48 hours for a bill to go live (I forget which). If the President isn't putting pen to paper by 12am-6am EST on Sunday morning, we will I believe be 95%-99% likely to default on our sovereign debt or at least permanently fuck up and push nations toward either a BRICS based currency or the Yuan.

We're basically--right this second--24 to 48 hours from nightmare fuel.
Posted by Joe Szilagyi on October 11, 2013 at 4:28 PM · Report this
MacCrocodile 3
I don't think anybody wants the shutdown to get too close to Election Day. Even in an off year, there's a lot of down-ticket damage to be done. Then again, the Tea Party, who are not wholly human, are involved in these negotiations for some reason.
Posted by MacCrocodile on October 11, 2013 at 4:32 PM · Report this
It will end once Obama and the republicans perform the necessary rites to resurrect the Grand Bargain (minus, of course the whole raising revenue by cutting corporate tax loopholes and increasing marginal tax-rates for the well do to). Halloween might be an appropriate night. Maybe Obama now finally has a big enough (manufactured) crisis to force enough dems to accept benefit cuts to Social Security and Medicare. He'll finally be able to deliver on that long standing campaign promise he made to his Wall Street backers.
Posted by screed on October 11, 2013 at 4:34 PM · Report this
I hate to say this, especially living in New York City, every terrorist's favorite target, but we probably need an external attack on our country to get everyone on the same page again.
Posted by Brooklyn Reader on October 11, 2013 at 4:41 PM · Report this
theophrastus 6
When did you say the sequester was going to end?
Posted by theophrastus on October 11, 2013 at 4:47 PM · Report this
dnt trust me 7
Is a Brooklynite saying s/he lives in NYC the same as someone in Kent saying he lives in Seattle? White Center?
Posted by dnt trust me on October 11, 2013 at 5:14 PM · Report this
Fifty-Two-Eighty 8
Brooklyn is one of the five boroughs of New York City, dumbass.
Posted by Fifty-Two-Eighty on October 11, 2013 at 5:26 PM · Report this

#7, 8

Kent is not part of the City of Seattle, but it does share the same county, King.

Brooklyn is part of the City of New York -- but it is its own county, Kings.…

Kent, to me, has always felt like Queens, New York.
Posted by Supreme Ruler Of The Universe http://_ on October 11, 2013 at 5:45 PM · Report this
dnt trust me 10
Boroughs is a cool word. Why didn't the pioneers bring it west?
Posted by dnt trust me on October 11, 2013 at 5:45 PM · Report this
Maybe it's time for a retail shut down.
Posted by midwaypete on October 11, 2013 at 5:46 PM · Report this

States pony up to open national parks, sights…\
Posted by Supreme Ruler Of The Universe http://_ on October 11, 2013 at 6:10 PM · Report this
If Obama allows the Republicans to touch the ACA, I'll finally be disappointed in him. Cut just about anything else, not that.
Posted by sarah70 on October 11, 2013 at 6:27 PM · Report this
RainMan 14
I am a furloughed government contractor who has had plenty of time to read Slog in the last two weeks. As much as I am eager to return to my job, I hope Obama doesn't cave on this one as he has done in the past. I don't want to get back to work so badly that I would be willing to accept cuts to Social Security and Medicare as part of the deal.
Posted by RainMan on October 11, 2013 at 6:38 PM · Report this
In the first poll I voted the week of the 14th. I'm still thinking it will be close to that, no later then the the 24th.

But just to hedge my bet, definitely before Thanksgiving. Black Friday and all that.
Posted by Machiavelli was framed on October 11, 2013 at 6:42 PM · Report this
@10 As far as I know, NYC is the only city in the U.S. with "Boroughs." To the state government, each of NYC's five boroughs is a county. Only Queens and the Bronx keep the same names between their borough and county names. Manhattan is New York County, Brooklyn is Kings, and Staten Island is Richmond County, named after some ne'er do well son of an English monarch. All the Boroughs elect the City's Mayor, the Public Advocate and members of the City Council. In addition, each Borough gets a Borough President, a District Attorney and a bunch of judges. The Borough President office was once a powerhouse of patronage and contracts, but now it's little more than a mascot.

And, as Mayor Bloomberg reaches the end of his term, let's have a little review of what he's done for my city:…
As much as I'm looking forward to having a progressive Democrat in the position for the first time in a long time, it's going to be hard to beat Bloomberg's record of accomplishments.
Posted by Brooklyn Reader on October 11, 2013 at 6:43 PM · Report this
dnt trust me 17
Please excuse my ignorance. I looked up ACA not knowing what you meant. Are you referring to the American Canine Association? Would be pretty cool if that's what you're talking about.
Posted by dnt trust me on October 11, 2013 at 6:44 PM · Report this
dnt trust me 18
wow, lots of info. Still my question about bourghous in the west doesn't feel answered. No worries.
Posted by dnt trust me on October 11, 2013 at 6:48 PM · Report this
Q*bert H. Humphrey 19
@16, @18, states like New Jersey and Pennsylvania are full of boroughs, but they're one of the million types of municipal organizations that those states have, not a sub-city level of organization like NYC has. Boroughs peter out as you head west, getting down to one former borough in Minnesota, but then, Alaska! Alaska doesn't have counties, but much of it is covered by boroughs (and the rest by the Unorganized Borough). Much like western Canada, Alaska wanted a simplified local government structure, but picked an oldschool name instead of the dull-sounding "Regional District", like in BC.
Posted by Q*bert H. Humphrey on October 11, 2013 at 7:23 PM · Report this
Some Old Nobodaddy Logged In 20
Oh boy! Metaphor fight! Take that! Pow! Biff!

(ha ha, yes I know it was an analogy, but 'analogy fight' sounds like gay bdsm porn.)
Posted by Some Old Nobodaddy Logged In on October 11, 2013 at 8:04 PM · Report this
Some Old Nobodaddy Logged In 21
(not that there's anything wrong w/ that.)
Posted by Some Old Nobodaddy Logged In on October 11, 2013 at 8:04 PM · Report this
@17: ACA is the Affordable Care Act, aka Obamacare.
Posted by Bronco on October 11, 2013 at 8:20 PM · Report this
dnt trust me 23

Thanks a lot. Strange. I looked at 'boroughs' in Wikipedia a couple hours ago, and what you say almost feels word for word. You're smart.
Posted by dnt trust me on October 11, 2013 at 8:23 PM · Report this
dnt trust me 24

Ah, gracias. I should have known that. Being in the medical field, the whole Obamacare scenario hazily drifts through the workplace like that Indonesian attractive but smelly flower. Unsure to take it home for your yard, or admire it at the botanical garden.
Posted by dnt trust me on October 11, 2013 at 8:32 PM · Report this
Dnt trust me, we don't.
Posted by sarah70 on October 11, 2013 at 10:04 PM · Report this
this guy I know in Spokane 26
If there were an option later than Christmas, I would vote for that.
Posted by this guy I know in Spokane on October 11, 2013 at 10:20 PM · Report this
heavyhebrew 27
Always go with the armored dune buggy option. I am going big, Mk-19 GL, the works.

Call it the Boogie Van.
Posted by heavyhebrew on October 11, 2013 at 11:20 PM · Report this
Simone 28
Do you mean our Thanksgiving or Canadian Thanksgiving on Oct 14? I've decided to have two Thanksgivings and a birthday this year. 2 of those are on the same day.
Posted by Simone on October 11, 2013 at 11:36 PM · Report this
I voted the Somalia option in the first poll, but this time I'm voting for the week of the 22nd. Why, I don't know. It was a poor choice, and I already regret it!
Posted by Hanoumatoi on October 11, 2013 at 11:43 PM · Report this
dnt trust me 30
sarah70, ask any nurse. Like nearly all jobs, nusing is tedious. Mainly you assist patients, most of the rest is paperwork. The last 10% is gossip, and a tiny bit of that is bringing up the subject of the ACA, a subject seemingly best suited for politicians and journalists.
Posted by dnt trust me on October 12, 2013 at 6:43 AM · Report this
Matt from Denver 31
@ 18, maybe the fact that down South they became "boros." Seriously, look at a map of North Carolina sometime. Carrboro, Goldboro, this-boro, that-boro...
Posted by Matt from Denver on October 12, 2013 at 8:27 AM · Report this
dnt trust me 32
I think you're onto something bro
Posted by dnt trust me on October 12, 2013 at 8:50 AM · Report this
America Explained

( the real economy - - - A.L.E.C. and the government shutdown/default - - - Koch brothers and the multinationals )

Occasionally, Simon Johnson gets it right. Johnson is the former IMF stooge, and presently MIT economics professor and senior fellow at the Peterson Institute.***

Johnson has correctly stated that the five top banks make up the majority of America's GDP, or GDP activity!

According to O.C.C. reports, the banksters do this because they control $90 trillion worth of credit derivatives. Now credit derivatives are those wonderful debt-based instruments which the Federal Reserve has been purchasing from the banksters by the billions, under their various Quantitative Easing programs (QEI, QEII, QE . . . .).

Those items they purchase are referred to as "toxic assets" (i.e., junk paper). So on Monday they are credit derivatives, and on Wednesday they are toxic --- or is it the other way around?

Ergo, the majority of America's GDP is based upon valid credit derivatives' activity, or junk paper, dependent upon whomever is doing their valuation at the moment.

This is what the talking heads refer to as Wall Street, or fantasy finance.

Main Street is when actual goods and services are produced: Main Street has been dismantled over the past forty years and replaced with fantasy finance --- which apparently owns the vast majority of our politicians!

The organization, A.L.E.C., or the American Legislature Exchange Council, is responsible for financing the shutdown, and possible default, of the American government. A.L.E.C., in turn, is financed by the Koch brothers and various major corporations, such as ExxonMobil and Google.

Obviously, these entities have and will profit from the shutdown (massive high-speed [HFT] financial manipulation and speculation of Treasury futures, shorting the spread on the stock market, etc., etc.).

Should a default at the federal level occur, the repercussions at the city and municipal level across America would be enormous, as so many cities have entered into various types of swaps with Wall Street (the interest rate swap being one of the more popular ones). Possible outcomes would be mass bankruptcies declared by a large number of cities --- a major excuse for the privatization of those cities --- something which has already occurred in Michigan, California, Georgia and Indiana!

All that which has just been described doesn't just happen --- but occurs from diligent planning and activity.

President Obama's Affordable Care Act (or ObamaCare) benefits Wall Street --- it is to the private health insurance sector exactly what Clinton's Telecommunications Act of 1996 was to the consolidation of the American CorporateMedia. That consolidation yielded two major actions (aside for unified national censorship of any actual news content): the reinstitution of AT&T, and the "right" of the media to fictionalize the news, thanks to several federal lawsuits brought to court by Rupert Murdoch's News Corporation.

One can only fearfully imagine what the consolidation of the national health insurance giants will portend?

Economics has traditionally served two purposes: to confuse and bewilder people as to why a select few own everything, while the majority own little or nothing, and to redirect people's attention away from the fact that all financial systems are rigged!

Simon Johnson won't be explaining that to the American public!

***Peterson Institute: founded by Peter G. Peterson and David Rockefeller, it is dedicated to ending Social Security, Medicare/Medicaid, the offshoring of all American jobs, and adherence to the WTO's Financial Services Agreement. Peter G. Peterson's latest stunt was the creation of a pro-austerity organization with the New America Foundation.

Suggested links:


Suggested reading:

The Invention of Capitalism, by Michael Perelman

The Surplus American, by Charles Derber and Yale Magrass

Wealth, Power and the Crisis in Laissez Faire Capitalism, by Donald Gibson

Extreme Money, by Satyajit Das

All About Derivatives, by Michael Durbin

Posted by sgt_doom on October 12, 2013 at 11:06 AM · Report this

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