Despite all the so called good news for the last couple of weeks (such as "no tapering", Merkel winning to further add to stability for EU, Yellen winning and Summers out thus favouring a longer period of non tapering, sell down in BRIC seemingly halted for the time being) ....
...we have a new coals being thrown into the cauldron. .. The shutdown ... actually the Republicans are at fault here, they are trying to stop or delay Obama's Affordable Care Act and make some changes to health ways as well .... even though Congress has passed this and Supreme Court has upheld its legality (so Republicans are trying to overturn or nullify the Courts I guess, why???... because they did not rule my way, don't they know big pharma owns the Republicans' asses!!)
What is more important is the debt ceiling which may be triggered come October 17 ... I think its a brilliant idea... why don't we in Malaysia pass a law that says if budget deficit rises above 4%, the government shuts down and all departments have to negotiate their budgets down to go below 4%. If there was a crisis which may require the budget deficit to go above 4%, that is fine but it can never go past 5%. Even if the latter were to happen the government will have 2 years maximum to get that deficit back below 4%. The long term target budget deficit should be 3%-3.25%.
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