What is economic shutdown.

They say America is going to have an economic shutdown. what is that exactly, I mean is it that you just have a military machine, and no financial like system like banks operating and other services, or what does it exactly entail.and what does that mean for the rest of the world if services just shut down.
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Comments (14)

It means that the stupid country, the US, has reached it's debt ceiling. Who owns the debt? China. so the US should just refuse to pay the debt, simple.
it means nothing , its just to try and stop their own people from buying imports from your country ....banana
In this case it is not the whole economy but the "public" sector.

Which means either more taxes, more debt or less public sector.
Whtwhb,

The United States is so much in debt, we are in financial bankrupt. I am ready to move to Canada where my relatives live. I don't know what the heck has happened to the U.S.dunno dunno
the war machine will never shut down well that and their pay however they will let everything else fall apart .
I love road trips on the highway
Well, I dont know, sounds like a bit of a plot, like extreme greed at the expense of the world.
keep the military machine, and take everything from everybody, like if one has a deposit in a bank or something.
then use the military machine to take care of anybody who riots.
Hope Im wrong.
Dont believe everything that you read. i personally think Dollar is still a good long term investment.
Hold on and watch what happens!
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I had a lot to do today so I didn't know about it for quite some time. Here in the sticks it appeared to have zero impact on the people not dependent on siphoning Federal dollars for their livelihood. Most general purpose Federal Office buildings are closed. Big deal, the closest one is what 75 miles away? Yeah some special govt. centers where privileged folks work may be busy as such places are often staffed by exempt 'critical' folk. Many of the folkss working in the special centers are transfers out of DC and the govt. paid a contractor to put up housing developments more or less just for them, as only they earn enough money in this locality to afford the too high for normal folk prices those houses sold for. <At a time when older already built houses were going for 120K, the new ones went for 400K. Mean wage outside the Federal centers is usually less than 60K annual with many earning 20K to 40K in the local economy (and driving 10 - 20 year old cars, but inside the Fed centers 80K with lots earning way, way more is not uncommon. They keep to themselves, don't often join older churches or do much socializing at the places where the 'uncleared' non-govt local folk hang out. Their HOAs discourage older cars and at home engine work, so most of the cars in those instant 'neighborhoods' are less than 3 years old, if not this years. So okay, maybe some of them were told to stay home today. How would those of us outside the HOA areas the Feds live in know that if they don't socialize with the locals or even shop in the same stores? So the clerks in the supermarkets still work. The bank was still open. Bill (a friend) still delivers sodas to the supermarket. The bars and restaurants seem to be open as usual. The local barber shop was open, so was the news stand and the luncheonette in town. Gander Mountain had a fair number of customers (many checking out the deer rifles and the reloading equipment). In spite of the govt. shutdown I had no problem hitting Tractor Supply for some mower parts and browsing fishing rods in the K-mart. Ate lunch at the McDonalds without noticing anything. Stopped to chat with a neighbor feeding his ducks, then split some logs from a dead Cyprus tree I chainsawed last week. Only at around 6 when I turned on the TV did I learn Congress had done as threatened. Talking heads all screaming about how the sky fell and calamity must follow. Really? This may be entertaining. I should watch more TV. Perhaps tomorrow after I replace some parts in the wind generator and work on some overgrown fence line I will turn the TV on again and learn why I should care. Seriously, as long as the food stamps continue to be financed I don't think many in the rural areas will notice for quite some time. Even then, Bambi season approaches and just about everyone has canned lots of home grown veggies already. Dunno, maybe in DC it is a big thing. Let it continue. The older pickup trucks don't really mind a little less road repair. Newer cars may care, but my 26 year old F-250 or the CJ copes just fine with gravel roads.
I hope every one in the USA who has savings in banks are safe from their own government from taking all the money to pay their countries dept to the world bank like other countries have done ....I gess its a wait and see if theres a run on the banks and people are removing all their money befor it dissapares....banana banana banana
What about those other times when they closed the usa government sectors. later all these times usa seem to be ok.
It is really big news if you live in the DC Metro area where 80% of the income comes from the Federal Govt. Maybe big in towns like NYC, Los Angeles, Atlanta, Denver, etc. But in places like Las Vegas, Detroit, Albany, Roanoke, etc. where Federal dollars are not the primary source of income of the majority of the populace, it is like, who cares?
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whtwhb

whtwhb

Strand, Western Cape, South Africa

I live in Strand. Like to do art. Walk along beachfront. Occasional drink. [read more]