Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

  1. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

     

    For weeks Americans have been told that if Congress and the White House didn't agree to a Continuing Resolution to fund the government when the new fiscal year started on October 1, an economic calamity would befall the nation.

    Well, the government officially shut down at midnight Monday, and markets all around the world don't seem to care.

    At press time, the Dow Jones Industrial Average futures are up 0.13 percent in pre-market trading.

    Yes, I said up.

    The S&P 500 futures are up 0.16 percent. NASDAQ futures are up 0.2 percent.

    European markets also don't seem to care about America's shutdown.

    British stocks are down 0.4 percent, Germany's up 0.4 percent, and French shares are edging 0.5 percent higher.

    Asian markets are also mixed with Japanese shares up 0.2 percent and Chinese shares up 0.68 percent. The Hong Kong market is down 1.5 percent.

    Also of note is gold which is down almost $30 an ounce. If traders around the world thought an American shutdown was going to cause an economic catastrophe, gold would be rising.

    Clearly, traders aren't buying all the hysteria about this shutdown. CNBC.com confirmed that about an hour ago:

    U.S. stock index futures ticked higher on Tuesday, as markets appeared to shrug off the U.S. government shutdown, with demand for riskier assets like equities little changed.

    "This morning, the risk tone improves somewhat, as investors take the view that a partial shutdown, if resolved quickly, will do little damage to the overall health of the U.S. economy," said Joe Rundle, head of trading at ETX Capital.

    It appears much like all the hysteria about the sequester harming the economy, a temporary shutdown of the government isn't fazing Wall Street.

    But don't expect the media to change its hysterical tune.



    Read more: http://newsbusters.org/blogs/noel-sheppard/2013/10/01/medias-doom-and-gloom-predictions-wrong-again-markets-shrug-governmen#ixzz2gUBJZW8a

     

    Read more: http://newsbusters.org/blogs/noel-sheppard/2013/10/01/medias-doom-and-gloom-predictions-wrong-again-markets-shrug-governmen#ixzz2gUAxFtIJ

     
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  3. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

    In response to A_Concerned_Citizen's comment:

    Heh, heh, heh ... yep a few hours of stock action proves everything.

    Geepers, you really are grasping at straws.



    I thouight the market levels was a sign that the Obama recovery was working.  

    Will you just make up your mind?  Is the market an indicator or not?

     
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  5. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

    Commute was a little easier too.

     

    Other than that no effect.

    ...the man who really counts in the world is the doer,...  TR 1891

     
  6. You have chosen to ignore posts from NowWhatDoYouWant. Show NowWhatDoYouWant's posts

    Re: Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

    No sh!t.

     

    Defaulting on the debt ceiling would cause problems. You'll see markets react as we get closer to that, with government still shut down.

     
  7. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

    In response to NowWhatDoYouWant's comment:

    No sh!t.

     Defaulting on the debt ceiling would cause problems. You'll see markets react as we get closer to that, with government still shut down.




    If defaulting on the debt ceiling will be a calamity, then call your President and tell him to negotiate.

     
  8. This post has been removed.

     
  9. You have chosen to ignore posts from NowWhatDoYouWant. Show NowWhatDoYouWant's posts

    Re: Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

    In response to ComingLiberalCrackup's comment:


    If defaulting on the debt ceiling will be a calamity, then call your President and tell him to negotiate.



    IF I call him, it'll be to tell him to use the trillion dollar coin solution.

     

    No negotiation with terrorist swine.

     
  10. You have chosen to ignore posts from NowWhatDoYouWant. Show NowWhatDoYouWant's posts

    Re: Media's Doom and Gloom Predictions Wrong Again, Markets Shrug Off Government Shutdown

    In response to A_Concerned_Citizen's comment:

    In response to ComingLiberalCrackup's comment:

    [QUOTE]

     

    In response to NowWhatDoYouWant's comment:

     

    [QUOTE]

    No sh!t.

     Defaulting on the debt ceiling would cause problems. You'll see markets react as we get closer to that, with government still shut down.



    If defaulting on the debt ceiling will be a calamity, then call your President and tell him to negotiate.

    [/QUOTE]


    Negotiate what?

     

    To have the wingnuts pay the bills they've already racked up?

    Do you expect your employer to constantly negotiate with you over whether or not you'll do your job and fulfil your contract that you've already signed?

    You idiots are just being obstinate and keeping your noses firmly tucked into the wingnut backsides.

    [/QUOTE]


     

    CLC is secretly angry that the GOP might F up his payment schedule. He feeds at the trough he hates.

     
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