Wednesday, October 2, 2013
* The military academies announced they're cancelling their athletic events during the shutdown which is really a bummer because we all were looking forward to seeing Navy face off against Air Force in football this Saturday..
* Historical sites like Valley Forge and the Liberty Bell are closed to tourists. If you polled 1,000 people and asked them what year did the Continental Army's encampment at Valley Forge occur, you'd be lucky if 10 answered correctly (winter of 1777-78)
* The Bureau of Labor Statistics won't be able to finalize then report their findings for September's unemployment rate... Who is going to manipulate their findings so to bolster the lie of job recovery now!!??
* 98% of the FCC's 1754 employees are furloughed too.. What a perfect time for network TV to inject the words 'fuck' and 'shit' and topless women into their daily programming without any repercussions..
On and on..
It is estimated that 815,000 people are being furloughed.
That is a lot... Then again, it is not..
0.002% or Two One-Thousandths of One percent of all Americans.
You call that a shutdown?
The last shutdown occurred in the winter of 1995-96, and who really remembers That?
President Obama doesn't look like he's suffering today either.. Hmm.. you know we wonder... Heh Heh.. We kid..
And all this talk of political reverberations? Ha! Hardly..
First, elections are not for another 13+ months (400 or so days away).. People can barely remember who won this weekend's NFL games..
"All politicians are crooked, untrustworthy scum.. Um, except my Congressperson of course... He/she is honor and integrity.."
We did see Japan's market drop 400 points over the uncertainty this shutdown may pose..
Funny but quite sad when you think about it... When the US is in any kind of turmoil or instability, Japan's market among others becomes dramatically unstable and triggers sell-panic..
Just one of those truisms few ever openly talk about..
So like we mentioned yesterday, our prediction is this: Pretty much everyone including the market will be ignoring this shutdown for another week and a half...
And by Oct 15th or so, all will be forgotten as the Dow climbs 600 pts on the 'good news'.
Posted by Susquehanna at Wednesday, October 02, 2013