The “Karma” due to a ” Culture of Death ” is now taking its toll against what was perceive to be the Imperial American Empire…
The Great American Dream is turning out to be a nightmare. We hear the screaming and cries of un-born children; the silent death of unwanted and dispensable persons with disability or the elderly. It is a known fact that the culture of death is an American conspiracy under the disguise of the “Reproductive Health” Responsible Parenthood, ” Mother care”, Childcare and the controversial ObamaCare”.
In 1711–1720 was the ” British South Sea Bubble” this was the origin of the first bubble where companies inflated their stock. The Culture of Greed and Abuse.
The Black Tuesday, October 29, 1929, the day the stock market crashed, was then the official beginning of the Great Depression. Stock prices plummeted with no hope of recovery and panic struck. Masses of people tried to sell their stock, but no one was buying. The stock market, which had appeared to be the surest way to become rich, quickly became the path to bankruptcy. Banks closed. Corporate or individual depositors lost their money. Business went down and people lost their jobs. Several Americans committed suicide, suffered or died of poverty.
The Asian financial crisis gripped much of Asia beginning in July 1997, and raised fears of a worldwide economic meltdown due to financial contamination.
The $85 Million Stimulus speculation. The FED plan to reduce funds resulted to the stumbling of worldwide stocks and currencies.
The Sept 2013 announcement that Federal Reserve will Keep Buying $85 Billion In Bonds Each month until Job Market Improves.
Is History repeating itself or it’s simply a battle of egos?
The world already reeling from the effects of the Fed Stimulus is facing another uncertainty and turmoil. The US government shutdown last Oct. 1 has triggered debates, issues and has already affected the World Economy.
Like two Brahma bulls, with horns twisting and turning in a lock-up battle, the House Republicans and Senate Democrats are fighting over for one simple reason, supremacy. And the Republicans have found a kink in the armor of President Obama, “The ObamaCare Program”… Or is it ” Obama-No-Care?
The Health Program which was meant to help lower cost of healthcare triggered numerous debates among the Senate and Congress, the medical system and the people themselves.
The ObamaCare is actually called the Patient Protection and Affordable Care Act (PPACA) commonly called the Affordable Care Act (ACA). Its aim is to increase the quality and affordability of health insurance, lower the uninsured rate by expanding public and private insurance coverage, and reduce the costs of healthcare for individuals and the government.
The main advantage of the Affordable Care Act is that it lowers health care costs overall by making insurance affordable for more people because it will be extended to two uninsured groups.
a) It will include many and more younger people, who are healthier. This lowers costs overall because they’ll pay premiums, but won’t use as many services.
b) Second, insurance will become available to people who now use expensive hospital emergency room treatments instead of going to a primary care physician. This lowers costs because they will have their conditions treated before the expensive critical stage.
The main disadvantage is that the Act could actually increase health care costs over the short term. That’s because many people will receive preventive care for the first time in their lives. This could lead to treatment of unknown illnesses, driving up costs.
After being unsuccessfully repelled many times, the healthcare caused the “standoff” between the Democrats and Republicans last Oct 1, and resulted to the US government shutdown. The House Republicans won’t pass a budget unless it repeals and defunds parts of ObamaCare and Senate Democrats won’t pass a budget unless it doesn’t.
Things heated up as the President made an accusation that “the Republicans don’t get to demand ransom in exchange for doing their jobs” by demanding concessions in policy before reopening government”.
President Barack Obama countered by saying that the “U.S. economy risks a very deep recession” if Congress doesn’t raise the $16.7 trillion debt ceiling. He threatened to default payment of the Oct. 17 debt if the Republicans refuse.
He then proposed to the Republicans to talk, including changes to his health-care law, once lawmakers end the partial government shutdown and increase the country’s borrowing authority.
But the Republicans said NO.
House Speaker John Boehner dismissed President Obama’s position on the fiscal crisis as “not sustainable” Tuesday, only hours after Obama held a non-press conference to say he was willing to compromise but not negotiate.
“What the president said today was, if there’s unconditional surrender by Republicans, he’ll sit down and talk with us. That’s not the way our government works,” Boehner said.
Office of the Secretary of the Treasury, Jacob Lew said ““If we have insufficient cash on hand, it would be impossible for the United States of America to meet all of its obligations for the first time in our history. The results could be catastrophic?”
Lew had warned investors that they were acting entirely too calmly amid a crisis. If the government runs out of money to pay its bills” which could happen as soon as Oct. 17, the effects on the American economy and the global financial markets are inconceivable”.
Tim Huelskamp, a Tea Party-backed Republican congressman, serenely dismisses the threat of a default on US debt triggered if Congress fails to raise America’s borrowing limit before the Oct 17 deadline.
With all the arguments, accusation and bickering, Economic experts are showing mixed reactions to the ongoing shutdown and standoff. For example, Stocks in the Standard & Poor’500-stock index lost just 0.2 percent on Sept. 25 and showed a mild effect and the value of U.S. government debt actually rose.
“People are losing their sense of fear,” says Bob Johnson, the director of economic analysis at Morningstar (MORN). We’ve screamed so many times the sky is falling that nobody believes it this time—and I think this time the situation really is just a little bit worse.”
Most investors in the states and other countries are optimistic or simply brushing it off but real results are showing.
The US government halted nonessential operations on Oct. 1, furloughing 800,000 federal workers and shutting down services such as national parks, further hampering a struggling economy.
The value of gold fell and the threat of default rose, the opposite of what usually happens in tumultuous times.
The health care law has always been at the center of the fight over government funding. But the debt ceiling fight, which is already rattling financial markets, could touch on a broader range of policies, including tax and entitlement reform, and broader efforts to slash the deficit.
Global Effects of the Standoff.
A prolonged US budget standoff would hit global markets very hard, the Bank of Japan (BOJ) warned on Friday as it said it was ready to top up its existing massive stimulus if the recovery underway in the world’s third-largest economy was threatened.
At the IMF and World Bank meeting this year, the euro crisis will not be the center of attention. Instead, US political gridlock and a monetary “exit strategy” are the greatest threat to the world’s emerging economies.
The US debt limit is currently at almost 17 trillion dollars (12 trillion euros). If not raised on time, the world’s largest economy would officially go bankrupt.
The shutdown of the United States government following the deadlock between Democrats and Republicans in Congress will have a strong impact on the Philippine economy if the situation is prolonged, an economist said. “If the shutdown will prolong it will definitely affect the exports and investment in the country,” economist Cid Terosa from the University of Asia and the Pacific.
A possible US government default can have severe implications on the global economy, the Bangko Sentral ng Pilipinas said. However the Philippines still has “enough buffers” to mitigate the impact of US default on the economy.
“The implications of a default can be serious. But the occurrence of actual default can lead to really dire consequences,” BSP Governor Amando M. Tetangco Jr.
In my belief, the US government cannot afford to have a prolonged shutdown and a default payment on October 17 as well. I agree with most economic experts that it will be “catastrophic” to the world economy.
At present, the much-blamed Republicans are considering a short-term debt limit hike to stave off the default payment threat of President Obama.
As shown in global news, “Republicans in the House of Representatives offered a plan on Thursday that would postpone a possible U.S. default, signaling new willingness to end a standoff that has shuttered large parts of the government and thrown America’s future creditworthiness into question”.
This is a clear sign that the House Representatives and Senate Speakers are, in a way, putting aside “political issues” for the common good. They know and they fear what will happen if ever payment is not made. The announcement yielded positive results in the global stock markets.
But the real issue is not settled. According to the Republicans, their intention is to buy time on negotiations, for broader policy measures. But the President is firm by his decision not to reopen the government and will only accept the deal as long as there’s “no-strings attached”.
Everything said and done, ObamaCare is still the issue. How long will the negotiations last? Will the Republicans succeed in defunding the program or the President and Democrats will be victorious.
Whatever will be the final decision, the global community will be greatly affected. Are we going to a worldwide and modern day Great Depression or a Doomsday?
Only time will tell.