US Government shuts down

[Spink]

http://isthegovernmentshutdown.com

[CCS]

Originally Posted by Cyberbob

Newt Gingrich is somewhat right when he says the shutdown-related hysteria is overblown.
It won't be even a talking point in a few weeks

Yeah nah. I reckon the people who aren't getting paid may see it differently. People still gotta knock out mortgage payments and feed the kids, y'know?

[aR Que]

what about companies executing contractual works, do they still get paid? (maintenance, emergencies, previously agreed works etc.)

[Golden Teapot]

Originally Posted by CCS

Yeah nah. I reckon the people who aren't getting paid may see it differently. People still gotta knock out mortgage payments and feed the kids, y'know?

One of the consultants I deal with can't go on their family holiday. The national park they have a cabin in is "closed"; only people hunting with guns are allowed to be there...

[Odysseus]

Originally Posted by Golden Teapot

They can achieve a devaluation of their debt almost immediately if they needed to.

Since their debt is denominated in their own currency, it won't affect their debt burden. Only when you turn USD into foreign currency for whatever reason is a devaluation relevant.

[Golden Teapot]

Originally Posted by Odysseus

Since their debt is denominated in their own currency, it won't affect their debt burden. Only when you turn USD into foreign currency for whatever reason is a devaluation relevant.

There's more to it. I'm deliberetly not talking about the detail since such conversations never work here; there's no point kicking myself in the head...

[chubby]

thats right.

[Odysseus]

Originally Posted by Golden Teapot

There's more to it. I'm deliberetly not talking about the detail since such conversations never work here; there's no point kicking myself in the head...

It's not a question of the devil being in the details. Saying something like devalue their currency just isn't a realistic, relevant or even a workable scenario. It's be even less likely to work than minting a $1tn coin.

What you need to have for a devaluation to happen is firstly a fixed currency regime (so the government can control the currency's value), which the US does not have. Second the U.S. don't have any real currency policy anyway (ie the USD needs to be in a band of x with a basket of currencies, xyz. Just like the Euro really).

So what you're talking about is a market depreciation. This would require undermining the Fed's quasi-independence since they control the production of money (within bounds set by the US government). So you flood the FX market with money on a scale that makes QE look like the size of a bee's dick. Remember that QE was just about controlling short and long-term interest rates.

But all this achieves is a cheaper US currency for the rest of the world, pushing up their exports, reducing imports. But since the US currency is the the world's reserve currency, it has done bubcus to lowering the debt burden of the U.S. government.

The thing that eats away at the debt burden is inflation. What needs to happen is for inflation to push up relative prices. So all those dollars needs to come back to the U.S. to push up prices and therefore inflation. But the dollar value of debt stays the same lowering the load. But this eats away at people's savings, which makes them really pissed (look at Argentina and Venezuela). So it's super hard to do if 1) you're the reserve currency and 2) without people noticing you're dicking over their retirement nest-egg.

[Nothing]

Maybe this would be a good time to switch to a super-sovereign global reserve currency.

[Odysseus]

Originally Posted by Nothing

Maybe this would be a good time to switch to a super-sovereign global reserve currency.

like the Euro but on a global scale. Sounds flawless - Where do I sign up!?

[Golden Teapot]

Originally Posted by Odysseus

Saying something like devalue their currency just isn't a realistic

I didn't say that though did I?

I don't want to engage in a conversation where the other side (perhaps not you - but many people) won't be able to get past their absolute beliefs in traditional economic theory.

Perhaps I shouldn't have posted at all? Actually I think this is it.

[Nothing]

ETA till debt ceiling reached is 4 days. Who's betting on a last minute deal?

[Golden Teapot]

What would a default do to Auckland house prices?

[chubby]

flying out in a couple of hours.
still looking as if this is going to personally inconvenience me....

cant they just think about the kids?

[plaz0r]

Originally Posted by chubby

still looking as if this is going to personally inconvenience me....

OH, NO!

[Cyberbob]

Spose I should set up a thinkgeek shopping kart ready to go for Friday.

[Spink]

House is voting now on the thing that will end this and give the President the right to waive the debt ceiling. Congress can vote to disapprove of that but then the President can veto that vote.

[ZoSo]

Clearly needed a paid for referendum..

[Spink]

Originally Posted by Spink

House is voting now on the thing that will end this and give the President the right to waive the debt ceiling. Congress can vote to disapprove of that but then the President can veto that vote.

shit passed like 285 to 136 or something close (only needed 17 repub votes but got ~85) after Boner said, for 2 weeks, that there weren't enough votes.

[Deadmeat]

Of course he knew there'd be enough votes but he had to say something besides "im not bringing a clean bill to the floor because the nutjobs in my party will string me up as a RINO".

[chubby]

Space museum,here I come.monuments and smithsonian proper tomorrow.

[chubby]

Actual question.
Does anyone know what the deal is with all the hookah bars in Washington?

[Nothing]

About $250 - $300/h for an average high-end call girl.

[pxpx]

Originally Posted by chubby

Space museum,here I come.monuments and smithsonian proper tomorrow.

Glad everything opened in time, would suck to be barred from all that stuff after travelling all that way.

[chubby]

Awesome fun that was.pretty much the whole day spent exploring,and if stimulants for kiddies were acceptable it would have been longer.
One of the hits you take as an engaged daddy.

Interesting though, the closer you get to the White House,the less friendly and charming the Yankees get.and the fat arsed,pigeon-toed douches they have guarding that place reminded me why I love to hate on this place.

Amtrak up to noo yawk tomorrow.got some pretty cool shit lined up there,and a couple of weeks to explore.big steaming hole in the ground,here I come.

[^BITES^]

Originally Posted by chubby

Awesome fun that was.pretty much the whole day spent exploring,and if stimulants for kiddies were acceptable it would have been longer.
One of the hits you take as an engaged daddy.

Interesting though, the closer you get to the White House,the less friendly and charming the Yankees get.and the fat arsed,pigeon-toed douches they have guarding that place reminded me why I love to hate on this place.

Amtrak up to noo yawk tomorrow.got some pretty cool shit lined up there,and a couple of weeks to explore.big steaming hole in the ground,here I come.

Finding parking in Washington was a nightmare for us (large Escape Camper-Van convert).

My Favourite quote from the missus was "... oh .. is that the white house? ... Thought it would be bigger" ...

Nice place near there does good espresso too (italian guy :P)... and doesn't have the starbucks logo...

So even with it all "Shut down" do they still have all those mini guard houses manned? (Found that very odd).

[Ab]

Originally Posted by chubby

Awesome fun that was.pretty much the whole day spent exploring,and if stimulants for kiddies were acceptable it would have been longer.

I was on a solo visit to DC when I did the Air & Space Museum, fuckin epic.

[Spink]

Originally Posted by ^BITES^

Finding parking in Washington was a nightmare for us (large Escape Camper-Van convert).

My Favourite quote from the missus was "... oh .. is that the white house? ... Thought it would be bigger" ...

Nice place near there does good espresso too (italian guy :P)... and doesn't have the starbucks logo...

So even with it all "Shut down" do they still have all those mini guard houses manned? (Found that very odd).

It isn't shut down

[Ab]

chubby did you visit the Holocaust Memorial Museum while in DC?

[chubby]

to bites....
you betcha they were manned,by men holding assault rifles.(this is only a week after the last suicide by cop incident)
and to ab...as much as i am blown away and loving this place,i could not visit that place without giving some kind of offense,the jews here are far to delicate about genocide for peeps currently committing it.

been in NYC for a few days now.mid-town west 58th,about a block from columbus circle.(the whole-food market there has changed my world-no wonder they whine like babies in the AK...wow.)in fact the whole place is a revelation.i have travelled and spent some good lengths in some pretty awesome places,but as the amtrak conductor said on the way in.."the big city,the ONLY city".i heart NY.
relocated to brooklyn/queens today,and again,WOW.grey lynn on steroids i guess.full of hipsters and actually fashionable types(as opposed to well dressed),but mid-gentrification,so plenty of latino/old black/poverty chic.fuck yeah.some great looking spots to check out...and pretty homely too.feel comfy and welcome.
lovin it.

[Spink]

Try every dollar pizza slice you see and I'd say a mac n cheese restaurant would probably be fun for the kid(s), the apple store downtown regularly has live music too if that's your thing. I stayed in Brooklyn during my stay, nice place but I don't think I'd wanna live there. There's some Audobon bird watching boat tours on the river that give you some good city views and some interesting city history too. You get to see the island that typhoid mary had to live on, some spider man set scenery and more.

[chubby]

YES to dollar slice.
funny thing,cheap eats here are great,all the fat,salt and meat you want-but if you spend more.... well,the price/performance curve is punishing.only one of the top dollar feeds ive had here was worth it.the baseline here is so low.....im not sure what the punchline should be.
takes me back to pulp fiction.......what does a $35 burger look like?
not much better than a $2 one.

[Ab]

Originally Posted by chubby

and to ab...as much as i am blown away and loving this place,i could not visit that place without giving some kind of offense,the jews here are far to delicate about genocide for peeps currently committing it.

Tell you what, half a day at the the Holocaust Memorial Museum in DC will remind you why.

My fave stop in NYC: the American Museum of Natural History, owns bones

[^BITES^]

Originally Posted by Ab

Tell you what, half a day at the the Holocaust Memorial Museum in DC will remind you why.

My fave stop in NYC: the American Museum of Natural History, owns bones

Yeah the Natural History museum and the Met with the Greek display were my favs.

DINO FUCKEN SAURS! and not just cast models/copies, watching the guys making molds etc .. was also fuckin cool

[chubby]

off to madison square now...friday night knicks game.
going to be the full culture-shock experience.
looking forward to this.

[chubby]

pretty amazing.
after leading and looking like a sure thing,the knicks lost.
NY was pretty fucking ungracious actually.
i remember bill murrays 'mongrel' speech in stripes.....
being,and defending the underdog,i recall as a critical part of their self image and PR.
seems exceptionalism won.

that said,the subway ride home reminded me-I HEART NYC.
might have to try being an illegal immigrant.

[chubby]

last night tourist treat...open top double deck bus tour-halloween night in manhattan,twice across the manhattan bridge.
revelry from a nice safe height,and an incredible open air view of the whole thing.the skyline was the shit,empire state light show,wonderful party vibe-then off the bus to interact and subway home.
these folk get into it don't they.
flight home tomorrow...got to come back without the child sometime.

[chubby]

Bonus night in NYC.my virgin airlines flight was cancelled just on boarding,seems some guy in Los angeles had a beef.cant they just hit it with a mop and continue with business?
Even heard yanks gripeing,'ignore the problems,then totally overreact when the inevitable occurs'

Processed cheese for dinner again

[Ashley]

My flight into Dallas got cancelled too. Of course it had to be LAX, another reason to hate that shit hole of an airport.

[plaz0r]

rename thread 'chubby's travel blog' tia