"Life goes on long after the thrill of living is gone..."
John Mellancamp, "Jack And Diane"
How bad is the U.S. government shutdown? Apparently not bad enough to make gold and silver the traditional safe havens they usually are. The bet on Wall Street and in The City in London seem to indicate that analysts and investors are viewing the shutdown as a short-term conflict and not a protracted war.
"While the standoff is not a great thing, the effects seem to be limited, and we are not seeing investors rush to gold for its safe-... Read more
As the U.S. government throttled toward a shutdown, money invested in all instruments stampeded toward the sidelines around the globe.
This display of dysfunctional behavior is reprehensible. Holding cudgels over the heads of your fellow governing officials is no way to act. The right wing was daft if they thought for a moment there would be a compromise over putting off the implementation of the Affordable Care Act for a year.
Hello? It carries the nickname "Obamacare." What President in his right mind would let such signature legislation bearing... Read more
The casual observer might think that the people running Washington would be better suited to be actors in a soap opera. The worms keep turning the same ground over and over. While most analysts believe there might be a brief shutdown of non-essential services, they also believe that some systemic accommodation will be reached at the proverbial 11th hour.
The reason why the right wing now is fighting so hard to "defund" the Affordable Healthcare Act is that next week consumers will be able to enter the health... Read more
American jobs data released today was better than expected and it again thrust the tapering of QE3 to the front burner, nudging away the immanent government "shutdown" threatened by right wing members of Congress. On the other hand, the overall economic growth of the U.S in the second quarter grew slightly more slowly than the consensus of economists had forecast.
Whether the decline in weekly unemployment filings translates to actual jobs creation or if it is another sign that people are quitting the labor pool remains to be seen. And, regardless of the... Read more