Sources: Senate reaches deal to end shutdown, avoid default
http://edition.cnn.com/2013/10/16/politi...?hpt=hp_t1
Quote:According to sources, the Senate deal under discussion would reopen the government, funding it until January 15. It would also raise the debt limit until February 7 to avert a possible default on U.S. debt obligations for the first time.
It also would set up budget negotiations between the House and Senate for a long-term spending plan, and would include a provision to strengthen verification measures for people seeking government subsidies under Obama's signature health care reforms.
So yet another deadline looming in Jan/Feb...
(17-10-2013, 12:05 AM)mkmk Wrote: [ -> ]Sources: Senate reaches deal to end shutdown, avoid default
http://edition.cnn.com/2013/10/16/politi...?hpt=hp_t1
Quote:According to sources, the Senate deal under discussion would reopen the government, funding it until January 15. It would also raise the debt limit until February 7 to avert a possible default on U.S. debt obligations for the first time.
It also would set up budget negotiations between the House and Senate for a long-term spending plan, and would include a provision to strengthen verification measures for people seeking government subsidies under Obama's signature health care reforms.
So yet another deadline looming in Jan/Feb...
Not so fast. We still have to see if the deal even passes the republican controlled congress. The senate has not been a problem as it is controlled by democrats.
John Boehner will have to do it, imagine the amount of backlash he'll receive from pandering to the tea party fraction of his party. Republican party members will pay a huge price for failing to pass this deal.
(17-10-2013, 01:00 AM)kelvesy Wrote: [ -> ]John Boehner will have to do it, imagine the amount of backlash he'll receive from pandering to the tea party fraction of his party. Republican party members will pay a huge price for failing to pass this deal.
He should do it and has apparently agreed to allow the bill on the floor. Finally, it seems, this "my party will lose so I won't allow anyone to even vote" game seems to be coming to an end. He has already pandered to the tea party for quite awhile just to ensure he remains speaker. Republicans value congress as it controls government revenues and if a deal does not get passed, I think the US public will think twice about ever voting in a republican majority in congress again.
This is the default outcome. Usually nobody would be willing to shoulder the blame of the collapse of the global economy.
You just need to have somebody in the chain of approval trip up or happen to report sick or because of some dept shutdown something cannot go thru ... honggan adios world.
Then there is the fitch ratings they could still downgrade anyway.
I see the market wants to correct they will look for any excuse to do it anyway.
(17-10-2013, 09:28 AM)sgd Wrote: [ -> ]You just need to have somebody in the chain of approval trip up or happen to report sick or because of some dept shutdown something cannot go thru ... honggan adios world.
Then there is the fitch ratings they could still downgrade anyway.
I see the market wants to correct they will look for any excuse to do it anyway.
Good point. I think the us market is starting to show signs of euphoria. Stocks there are approaching record levels and while overall earnings are very good, future growth prospects are not that bright with near certain entitlement cuts and tax hikes in the future.
US Congress passes fiscal bill to raise debt ceiling and re-open government. This is just another delay.
Whacked lots of sti etf today, no crash liao chiong ah. Sti no 3300 no sell
Huat ah
Just been updated by SGX on STI performance. May be it is useful for buddies in this thread. Excerpts of the report are below
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Made up of 30 blue chip stocks, the Straits Times Index (STI) has gained 54.7% over the past five years. Annualised, this equates to an average yearly price return of 9.1%.
Going back further to take more ups and downs into account, the 10 year annualised price return of the STI was 6.1%.
Ninety percent of the current 30 blue chip stocks that make up the STI were listed five years ago. Five year price moves of these 27 stocks have ranged from -5% for Singapore Airlines to +270% for Genting. The median five year gain of the 27 stocks was 68% which was achieved by Noble Group.