Biggest issue if the government shuts down?

[The Dude]

Anyway, Boehner's latest gambit seems to have failed. Heritage Action demanded a "no" vote and Boehner can't get enough votes for his proposal. The vote has been called off. Again. Boehner cannot find a bill that he can pass with solely GOP votes that isn't insane but also can't find a bill that he's willing to pass with exclusively Democrat votes. lmao.

The Senate needs to pass a bill, then let Boehner decide how his legacy unfolds. Either he craters the world economy or he sacrifices himself for the good of the World.

[Mr.Bill]

[spacemonkey]

They just need to apply the bandaid, so they can do it all again in a few months. Close the monuments, parks, etc. Just be sure, above all else,. keep the $ millions, flowing to various mid east, and other assorted crapholes.

[Mr.Bill]

If no debt ceiling agreement is reached the drop dead date is supposedly Oct. 17th.. Of course ANYONE who's even paid a little bit attention knows that that's NOT a hard and fast date.. Many days, even 1-2 weeks will pass before anything seriously happens to the economy, to our bill paying, to the markets, etc.. Actually because mucho money will be due on the 1st of any month, Oct.31st/Nov.1st might be a better drop dead date.

BUT I'll bet on the morning of Oct.18th, after nothing happens the talking heads and the TP people will be all over Fox smiling and gloating that 'they told you so', and that Obama was lying and there will be no serious problems from a default..

So don't expect an agreement before the 17th.. Too many chances for photo-ops on the 18th.

[The Dude]

[Mr.Bill]

The markets will react on the 18th, but nothing catastrophic.. 100-300 point drop means nothing nowadays.. It'll take some serious defaults, or God forbid a lowering our credit rating before the markets truly get scared.

This nonsense and talk has been going on so long the markets are fairly immune now. Gov't been shut-down for 2 weeks, and we're 2 days away from that supposed drop dead date yet the DOW is still over 15,000!

If there is no agreement by Oct. 22-25 or so, then look for some seriously BAD days on Wall Street. Until then, just hiccups.

[The Dude]

Fitch announced today it's going to review downgrading our credit rating. It's already happening.

Again, the 17th might not be the exact date cuz the shutdown might have actually pushed default back a bit. But when it happens, it will instantaneously be bad.

[Medius]

[eynon81]

[Mr.Bill]

Lets hold off from bombing Fitch for now..

Wall Street is yawning this morning over Fitch's threat. DOW futures are up 50 right now.