The federal government will shut down for the first time in nearly two decades after last-minute moves in both chambers of Congress failed to break a bitter budget standoff over the president’s health care law.
Now that the shutdown is over (temporarily that is) it is a little easier to think about it the whole situation. But even knowing that it is solved for the time being, it is still irritating to think that the shutdown was easily avoidable if we could have just worked together and came up with a solution. And it is even more irritating to think that becasue the government couldn't come up with a slution, the value of the US dollar decreased, causing us to lose money. We invested for the US dollar and it went down because of the shutdown. This is a prime example of how the government shut down effects almost everything, not just the government.
On the heels of the Chinese downgrading the United States, the US Dollar Index has plunged back below the key psychological level of 80, and the gold market has soared. Today one of the top strategists in the world told King World News that “there is no question this will end in disaster.” Cazenove Capital is the appointed stockbroker to Her Majesty The Queen, and their acclaimed strategist, Robin Griffiths, also warned that global stock markets may now be set to plunge. Below is what Griffiths had to say in his timely and powerful interview.
Griffiths: “We know that the problems in the United States haven’t been solved -- they’ve just been postponed a bit. The harsh reality is that the quantitative easing in the US can’t be taken away any time soon, and the enormous and growing debt mountain is going to be there for years to come. This will end badly....
According to the article, the united states economy is not getting any better. "The United States dollar index has plunged back below the key psychological level of 80". The problems in the United States have just been "postponed" and the quantitative easing in the United States isnt going to be taken away anytime soon. The debt in the United Sates will continue to grow little by little and wont be delt with for a while. -Mackenzie Newby
Economist John Williams says the U.S. budget and debt ceiling circus is not the real problem. Williams contends, “The issue here, very simply, is the long term solvency of the United States of America. . . This gap based deficit is going to kill us . . . We are going to be in very serious trouble in this next year, and the global markets know this is happening.” Williams goes on to explain, “They are not going to address the long term solvency problems of the United States. That’s going to trigger a massive decline in the dollar in the not-too-distant future, and that, in turn, will give us the early stages of hyperinflation in this next year.” Williams says, “We’re basically at a point where we can’t kick the can down the road. This is it. . . . Going forward from here, you’re going to generally see a weaker dollar, and it will get much weaker. You’re going to have a dollar panic, but I can’t give you the exact timing on that.” Another potential problem is a credit downgrade of U.S. debt. Williams says, “If we get a downgrade here, that would accelerate the process of the dollar selling and moving us again into the early stages of hyperinflation.” Williams says you can protect your wealth by holding hard assets. Williams goes on to say, “If your assets are denominated in dollars and Treasury bonds, those will become worthless in hyperinflation.”
This article is saying that the negative GDP gap is what is killing us. Pretty soon we will go into hyperinflation because our credit rating will be lowered and no one will lend us money. the dollar is will get weaker and weaker and things are not going to get better according to this economist? -jude krauss
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