Skip to main content

View Diary: Has Ted Cruz already moved to quash emerging Senate deal to end the Republican shutdown? (211 comments)

Comment Preferences

  •  Is this a Bad time to mention IIRC that Asia-Pac (6+ / 0-)

    Markets open starting at 5 pm NY Time. So that sort of shaves 7 hours off of the 12:01 Thursday deadline.

    I want 1 less Tiny Coffin, Why Don't You? Support The President's Gun Violence Plan.

    by JML9999 on Tue Oct 15, 2013 at 06:07:11 AM PDT

    •  Even getting close to the debt ceiling can have (8+ / 0-)

      TERRIBLE consequences. We didn't technically breach it in 2011 but there were some bonds that didn't get paid on time and, of course, we got ourselves downgraded by one of the rating agencies. The folly added substantially  to the cost of our borrowing.
       It's amazing that some of the nit-wits on the R side are in denial about this; these are facts. Oh, wait.......

      •  Twitchy bond markets are just a start (1+ / 0-)
        Recommended by:
        delver

        Without the Gold standard all we've had to rely on is our word.  How are Foreign Exchange markets supposed to function if they no longer  have any bleeping idea what the value of the base currency that all others are measured against the US Dollar.

        I want 1 less Tiny Coffin, Why Don't You? Support The President's Gun Violence Plan.

        by JML9999 on Tue Oct 15, 2013 at 06:34:35 AM PDT

        [ Parent ]

    •  I have not seen this addressed (3+ / 0-)
      Recommended by:
      JML9999, Empower Ink, CenPhx

      Does the govt. shutdown further complicate the default scenarios?

      Meaning that Treasury and other agencies that are involved with revenue and bill-paying are operating with skeleton staffs or are closed altogether.

      Even if we have a solution for funding and the debt ceiling by Thursday, how long will it take to get things back to speed and what damage will happen in the meantime? I think there's some bureaucratic inertia that will have to be overcome, in addition to getting the Congress to act.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site