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'Manufactured' crisis cost US $24bn -S&P

16.10.2013 09:11

Standard & Poor's says the shutdown in total cost the US economy $24 billion, or $1.5 billion per day, the rating agency said Wednesday. The agency also estimated the shutdown will pare fourth quarter GDP by 0.6 percent.

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Comments (10) Sort by: Highest rating Oldest first Newest first

 

Roger Broederdorf 17.07.2014 03:37

The US government manufactures crisis, wars, and stupidity so they can keep the citizens handcuffed with taxes. Remember Hillary said her and Bill left the White House poor ... when $100,000,000 is poor, what reality do our politicians live in. WE are doomed.

 

ziadkabdelnour 30.10.2013 08:11

How America Got Into This Current Mess, And How To Get Out Of It

the financial crisis facing our country today, but also includes specific, practical strategies and advice for turning around our economy and avoiding the complete meltdown of life as we have come to enjoy it.
how the actions of our nation's political leaders over the past 100 years or so have led to the current predicament we now face, and attempts to wake Americans up to the reality that the problem is much more serious than the government, media and academic institutions want anyone to believe.

 

Ditch Jefferson 18.10.2013 22:11

"Moody’s Analytics has estimated the government shutdown could cost the US government up to $55 billion, the same amount as devastating Hurricane Katrina in 2005."

Translation: Higher taxation on all Amerikans, you're all Keynesians now!

 

Suzanne Fritsch 17.10.2013 12:04

be careful on your bank runs.. reportable deposits/withdrawal limits are now about $5k rather than
10k...cash, darlings, is king..

 

Jack Fowler 17.10.2013 08:51

May be worth standing back from all blame blah blah & just see what happened here, what the net result is.

I suggest its crystal; the debt ceiling has gone up! Without, in effect, being challenged!

Main line Reps are just as much to blame for this as main line Dems. & what that shows is there is no real opposition, unless you want to occupy some sort of fringe radical label.

Ther efore its a shame & the real economic news is Chase Bank is implementing capital control because that's what all this debt will come down to CONTROL!

We have had the "bailouts" now its time for the "bailins" LET THE BANK RUNS BEGIN !

 

Joe Nida 17.10.2013 03:20

I hope the crybabies on the left are happy. Ashamed of the congressmen who caved. And as an American, im ashamed of our government and cant wait three years to get the traitor of his self made throne

 

Hoar Fraust 16.10.2013 23:58

JailBanksters 16.10.2013 22:48

The great solution is:
We got nuttin, but here's a 6 week pre-paid credit card. The Government has become a victim of credit just like the Population living one month at a time on borrowed time.

This is the great plan, that has been 100 years in the making

  


The solution is: print your own money and use it to pay off the Federal Reserve. Of course the last few Presidents to try that were Lincoln, Jefferson, and JFK.

 

JailBanksters 16.10.2013 22:48

The great solution is:
We got nuttin, but here's a 6 week pre-paid credit card. The Government has become a victim of credit just like the Population living one month at a time on borrowed time.

This is the great plan, that has been 100 years in the making

 

PR101 16.10.2013 20:00

"China, which holds the lion-share of US foreign debt in dollar reserves, nearly $1.3 trillion, ..." , well Japan holds nearly that much and the largest FOREIGN bond holder oscillates between China and Japan. Don't play the China card too close. Additionally, Russia continues to buy US bonds and has no plans to cut those back.

 

Rod 16.10.2013 17:33

Clearly the American version of democracy with 2 branches of Congress and a President may have a fatal flaw. It may prove that Parliamentary government is the only long lasting form of democracy that is viable for more than a couple hundred years. In Parliament you must establish a ruling coalition to form a government. After an American election the winners are thrown together without any consensus building required. Also, having two houses of Congress with budgetary control may sound good to some but may actually render the whole process a disaster.

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