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Tuesday, 1 October 2013

The US Government Shutdown


I remember just a few days back the world's stock markets stumbled as the US was contemplating to ease its Bond buying policy, but as the world is just about to enjoy the rebounding effect, we are again put to test by their latest 'trick' ~......


US begins government shutdown as budget deadline passes

The US government has begun a partial shutdown after the Republican-led House of Representatives refused to approve a budget for next year.

Under the shutdown, national parks and Washington's Smithsonian museums will close, pension and veterans' benefit cheques will be delayed, and visa and passport applications will go unprocessed.
Programmes deemed essential, such as air traffic control and food inspections, will continue.
Who will be affected
  • State department will be able to operate for limited time
  • Department of defence would continue military operations
  • Department of education would still distribute $22bn (£13.6bn) to public schools, but staffing would be severely hit
  • Department of energy - 12,700 staff would be sent home, 1,113 remain to oversee nuclear arsenal
  • Department of health and human services to send home more than half of staff
  • The Federal Reserve, dept of homeland security, and justice dept would see little or no disruption
  • US Postal Services would continue as normal
  • Smithsonian institutions, museums, zoos and many national parks would be closed

But the strange thing is, as per now, 3.30 pm Malaysian
time, the Klse is in green, and even the US stock futures 
is also +ve~