US Government Shutdown! Should We down under Care?

welcomeUniverseWorld on 01/10/2025 - 21:29

You’ve probably seen headlines: the U.S. federal government is now in shutdown mode after Congress failed to pass funding bills

  • Can this cause US economy to go slower that might reduce demand for Australian exports (commodities, agricultural products, etc.)?
  • Could there be increased volatility, delays in U.S. economic data releases, and uncertainty could ripple through global markets, affecting investment returns, forex, and commodity prices? What happens to our superannuation?
  • Could this complicate central bank decision-making globally, potentially influencing Australian interest rates or bond yields?
Financial North America United States

Comments

  • Hybroid on 01/10/2025 - 21:36
    +29

    Nope.

    • Franc-T on 04/10/2025 - 01:11

      though it must suck to be a government worker not getting paid because politicians, who still get paid, playing games.

  • Baysew on 01/10/2025 - 21:39
    +35

    What happened in the 20 shutdowns since 1978?

    • brendanm on 01/10/2025 - 22:07
      +8

      This, hardly a new thing.

    • welcomeUniverseWorld on 02/10/2025 - 07:25
      +2

      It is mind blowing for me that a gov can just shut down like that… especially one with trillions in debt…

      • EightImmortals on 02/10/2025 - 08:13
        +4

        Rumour is they are planning to devalue that debt with stablecoins. OK it was a Russian rumour but I don't distrust the Russian government any more than any other one.

        • welcomeUniverseWorld on 02/10/2025 - 08:48

          How does that work?

          • EightImmortals on 02/10/2025 - 09:48
            +5

            @welcomeUniverseWorld: Here is the claim: https://finance.yahoo.com/news/us-devised-crypto-scheme-eras…

            Here's an explanation of how they might do it: https://www.youtube.com/watch?v=enUgDZ4ULCc

            • studentl0an on 02/10/2025 - 11:56

              @EightImmortals: It's an interesting thought but it's been rumored for a while and the price of gold has had a big pump in the last few weeks. If that rumor would be possible then surely the value of gold would have plummeted?

              • EightImmortals on 02/10/2025 - 12:03
                +1

                @studentl0an: Anything's possible. Financial voodoo is way past my pay grade but I like to keep an eye on things. We'll know soon enough either way, but if you do see it happening you'll know exactly what's going on. :)

              • tenpercent on 02/10/2025 - 15:28
                -2

                @studentl0an: Gold is considered a Tier 1 High-Quality Liquid Asset (HQLA) under Basel III. If one expects the USD to be devalued (it's been devalued by more than 98% since the US Federal Reserve began, so it's a safe bet) then one might prefer to hold a different asset that isn't so easily devalued, e.g. physical allocated gold.

                • studentl0an on 02/10/2025 - 15:40

                  @tenpercent: Sure, but the whole point of the rumor is to devalue gold by selling the reserves to purchase crypto. That leaves the whole world holding the bag of devalued gold which BRICS nations have been purchasing a lot of.

                  If this was even possible then surely we would have expected the price of gold to have plummeted rather than skyrocketed the last month.

                • ferry594 on 02/10/2025 - 16:32
                  +1

                  @tenpercent: wtf? have you actually read Basel 3? why would you lie about something that is so easily verifiably wrong?

                  https://www.gold.org/goldhub/gold-focus/2025/06/you-asked-we…
                  https://www.lbma.org.uk/articles/gold-and-hqla-correcting-mi…

                  gold has had its treatment changed under bank NSFR altered but it is most certainly not level 1 for HQLA and LCR purposes, nor is it Tier 1 for capital ratios.

                  • tenpercent on 02/10/2025 - 16:43

                    @ferry594: Thank your for the correction. I knew it was Tier 1 but when I did a quick search the LLM led me astray and I didn't bother to read up on the recent changes (or non-changes as it so happens).
                    +1 for (some) humans; -1 for "Ai"

                    Nevertheless, if it looks like a duck, waddles like a duck and quacks like a duck…it may just be a new (old) species of duck. Many central banks duck whisperers are certainly behaving as if it is a duck.

                    https://www.gold.org/goldhub/research/gold-an-hqla-in-all-bu…

      • happydude on 02/10/2025 - 13:07
        +1

        You know how every year the government here issues a budget? That is actually a bill that the government needs passed in order to spend money.

        The senate can block it, but by convention they don't. It was one of the issues that led to the 1975 Constitutional Crisis.

        If supply is blocked then it is convention for the PM to call an election.

  • Far Cough on 01/10/2025 - 21:39
    +30

    The less we worry about the USA, the better we are.

      • fantombloo on 01/10/2025 - 22:49
        +2

        Who’s your daddy then if China harassed us

        Bad parents are notorious liars, esp. the the narcissistic types.

      • isthisreallife22 on 02/10/2025 - 02:53
        +5

        The way things are going it's more likely the Trumpist fanatics from USA will attack us than China

      • saltypete on 02/10/2025 - 07:47
        +8

        Who was our daddy when ScoMo and co stuffed up our relationship with China last time?
        Seem to recall a lot of barley going to the Middle Kingdom from the US.
        US couldnt give a 'rat's' about anything apart from US. Was ever the case, more so with the amber pedo….

        • Binchicken22 on 02/10/2025 - 12:21
          -5

          Lol stuffed up our relationship with a communist nation that puts its own people in concentration camps…. Isn't that a win? Or are we still turning a blind eye to everything china does?

          • Binchicken22 on 02/10/2025 - 21:06
            -4

            @Binchicken22: So weird how the left want to completely ignore these sort of things while massively blowing out of proportion/straight up lying about anything trump ever says or does.

        • tenpercent on 02/10/2025 - 15:30
          +3

          How dare Australia request that China permit the WHO to send in people to China to investigate the origins of the China Virus!

          /s

        • Muppet Detector on 02/10/2025 - 20:26

          Who was our Daddy when about $130 billion Aussie debt came under the control of China?

    • welcomeUniverseWorld on 02/10/2025 - 07:22
      -1

      I kind of agree. However, as I age, I wonder more of this weird things. Comes with age I suppose

    • GordonD on 02/10/2025 - 09:15
      +9

      One regular Australian poll asked the question "who is the biggest threat to peace in the world?" When every year, year after year the country that most Australians nominated was America, the pollster stopped asking the question.

      Similarly when the country most Australians nominated as the worst rogue state in the world was Israel they removed that from the list of choices offered.

      If we really believe what we claim to believe we should find more appropriate besties than a country that most of the world considers is committing ethnic cleansing and genocide, and the country supplying it with armaments to do that. If we don't we are saying what our values really are.

      • Binchicken22 on 02/10/2025 - 12:21

        Citation needed*

        • brenwildman on 02/10/2025 - 14:49

          Roy Morgan “Image of Nations”?

        • GordonD on 02/10/2025 - 15:12
          +1

          https://australiainstitute.org.au/post/poll-trump-a-greater-…

          The poll I was referring to though was the Lowy poll.

          • Binchicken22 on 02/10/2025 - 21:04
            -1

            @GordonD: Oh the Australian institute lol.

            I can only imagine the retards they polled. All blue haired no doubt… If anything it just shows how indoctrinated (some) Australians are if they genuinely think trump is a bigger national security threat than Russia and China, there's no reasonable argument that can credibility be made to support that position.

      • niknikniknik on 02/10/2025 - 23:52
        -4

        Ethnic cleansing whilst harmoniously housing the ethnicity (being claimed to be cleansed) within their country? An interesting take - consistent with those that believe time started in 1948.

  • jv on 01/10/2025 - 22:27
    +6

    US Government Shutdown!

    and nobody notices any difference…

    • Ellene on 01/10/2025 - 22:35
      +3

      There might be an increase in productivity

  • AustriaBargain on 01/10/2025 - 22:31

    It'd be a vote of no confidence then an election if it happened here, or Canada, or the UK.

    • BigTed on 02/10/2025 - 10:53

      The big difference for the USA is the fillibuster in the Senate.
      The Republican spending plan - offering a clean CR - actually got 3 Dems to vote for it. But didn't get the 60 necessary to break a fillibuster.

  • freefall101 on 01/10/2025 - 22:31
    +7

    Why is "down under" the only part of the title of this post not capitalised? Is this anti-Australian sentiment? I feel like I should make a mountain out of this mole wombat hill!

    • MS Paint on 01/10/2025 - 22:43
      +3

      Look at OPs forum post history for a full explanation.

      • Far Cough on 01/10/2025 - 23:17
        -3

        prob a bot ai account to create content

    • welcomeUniverseWorld on 02/10/2025 - 07:23
      +1

      I do not know. It just happens to be when I typed

  • plmko on 01/10/2025 - 22:49

    Yes you should care. Buy SPY calls at the massive dip.

  • SBOB on 01/10/2025 - 23:21
    +3

    The speed run in the US continues.

  • El cheepo on 01/10/2025 - 23:30

    I don’t care.

  • holdenmg on 01/10/2025 - 23:52
    +2

    Should We down under Care?

    Uh, this is a personal grooming decision. lol

  • life is suffering on 02/10/2025 - 00:18
    +5

    Yes pedophiles still roaming freely

    • SBOB on 02/10/2025 - 06:34
      +10

      Ted Cruz said to stop attacking them…

  • SpaceNinja on 02/10/2025 - 01:39
    +1

    Wait, is our govt not shutdown?

    • welcomeUniverseWorld on 02/10/2025 - 07:21
      -4

      We change our gov so often that I sometimes wonder who is our current gov.

      • EightImmortals on 02/10/2025 - 08:16
        +2

        Nope, we've had the same government since 1941, we just shuffle the chairs every 3 years.

  • Dollar General on 02/10/2025 - 05:27
    +8

    It’s good news as Trump can play more golf and less time for stupid decisions

    • welcomeUniverseWorld on 02/10/2025 - 07:21

      I agree. I wonder if Trump even cares. US is such a dramatic land

  • wannagrababargain on 02/10/2025 - 06:20
    +4

    As a resident of Australia, the 51st state of the USA, I welcome this news.

  • pegaxs on 02/10/2025 - 07:22
    +7

    They will vote to raise their debt ceiling again and just spend their way out of this. Book it up on tick, lose the next election and then scream… “LoOk WhAt tHe DeMoCrAtZ DiD tO oUr eCoNoMy!!!”

    • EightImmortals on 02/10/2025 - 08:18
      +1

      35 trillion in debt isn't enough, GIVE US MORE!!!!!!!!!!
      And elect us again because of the great job we are doing.

    • welcomeUniverseWorld on 02/10/2025 - 08:51

      tbf if I could just raise credit limit to unlimited values of my credit cards with no restrictions on cash advance, I would do the same.

    • Binchicken22 on 02/10/2025 - 13:16

      Weird take considering the reason for the shutdown is republicans wanting to cut spending and democrats wanting to increase it

      • Autonomic on 02/10/2025 - 14:14

        No, they actually did it to stop a vote on releasing the Epstein files. Trump was best friends with Epstein, after all.

        • Binchicken22 on 02/10/2025 - 21:01
          -1

          Weird how the left has all of a sudden become obsessed with the "Epstein files" all of a sudden… You all had 4 years of Biden being in power and didn't even squeak about it.

          • SBOB on 02/10/2025 - 21:57
            +1

            @Binchicken22:

            Weird how the left has all of a sudden become obsessed with the "Epstein files

            agreed, so weird how even radical left fox news and Donald trump were obsessed and talking about before the last election

            https://youtube.com/shorts/ZJorAVgHy7Y?si=OJVLg6WIlk7iT6r8

            • Binchicken22 on 02/10/2025 - 22:08

              @SBOB: Yeah a lot of the right have been and continue to do so, you are correct. My point was, the left never seemed to care while Biden was in power… So you can drop the what-about-ism.

              • Autonomic on 02/10/2025 - 22:16
                +1

                @Binchicken22:

                right have been and continue to do so,

                By continue to do so you mean not at all?

                • Binchicken22 on 03/10/2025 - 05:51
                  -1

                  @Autonomic: No, it's been a pretty consistent theme from most on the right.

                  You might notice if you ever left your Reddit echo chamber.

                  • Autonomic on 03/10/2025 - 08:07
                    +2

                    @Binchicken22: That is pure copium.

                    For most of the right you mean the entire republican party, including the President and all major right wing figures. Even your boy Charlie Kirk said he wasn't going to talk about it anymore. They just shut down the government to avoid swearing in a house democrat which would have allowed them to force a vote on releasing the Epstein files.

    • Muppet Detector on 02/10/2025 - 20:30

      They can raise the debt ceiling, but from what source?

  • pjetson on 02/10/2025 - 08:14
    +7

    Government employees are not being paid, that's the part that should matter. Normal everyday people, some of whom no doubt live paycheck to paycheck.

    • EightImmortals on 02/10/2025 - 08:18

      I bet the politicians and military are though.

      • pjetson on 02/10/2025 - 10:35

        You lose at least part of that bet. The military are not being paid, but they are legally required to keep working.

        • EightImmortals on 02/10/2025 - 10:58
          +1

          Forcing people to work without paying them? I feel there's another word for that?

          • sangohan on 03/10/2025 - 00:34

            @EightImmortals: they can choose to quit.

            On the other hand, you cannot quit under slavery.

    • welcomeUniverseWorld on 02/10/2025 - 08:52

      Does that include the people higher up as in Trump himself?

        • DashCam AKA Rolts on 02/10/2025 - 10:58
          +4

          When you're grifting bigly from your position, the salary is such a small % of your income, you don't claim it and you make a song and dance about not claiming it to appear benevolent, despite the ongoing Emoluments Clause breaches.

          • BigTed on 02/10/2025 - 11:01
            -4

            @DashCam AKA Rolts: And Trump did the same in his first term…
            Weirdly, Trump is probably the only President that left office poorer than when he went in… Biden and Obama on the other hand - total opposite.
            This time around - who knows.

            • smartazz104 on 03/10/2025 - 13:24
              +2

              @BigTed:

              Weirdly, Trump is probably the only President that left office poorer than when he went in

              Oh, he released his proper tax returns did he?

    • mskeggs on 02/10/2025 - 09:41
      +1

      The amazing thing is some of them are forced to keep working by law, without pay.
      Incredible stuff.

      • welcomeUniverseWorld on 02/10/2025 - 09:46

        How would that work? Do they have to go to office to work and spend their own money? I mean.. That seems illegal?

        • mskeggs on 02/10/2025 - 10:19
          +2

          In the past, when the shutdown ends, they have been given back pay, but there is no obligation to do so, and who knows if Trump will do so.

  • 3dprintdeals on 02/10/2025 - 08:37

    Where's the poll?

  • JIMB0 on 02/10/2025 - 08:39
    +1

    This happens every other year, nothing to see here. It's usually a good opportunity to buy the dip, but it's become such a non event there's not even a dip this time.

  • paul02 on 02/10/2025 - 08:43
    -8

    Hmmmm, bet the MSM are not saying that the Democrats wanted T$1.5 to fund healthcare for the still in America illegal aliens. But the image MSM will portray is it will affect public servants getting paid.
    For us in Australia, nothing will change and Albo still has not had a sit down with the current president.

    • Far Cough on 02/10/2025 - 08:49
      +3

      I think albo should not sit down with him.
      There’s no point.

      • Binchicken22 on 02/10/2025 - 13:16
        -5

        You are right, Albo would embarrass us further.

    • Crow K on 02/10/2025 - 09:52

      I know the last M is media and the first M is mainstream but what does the S stand for again?

    • blldzd on 02/10/2025 - 09:59

      A little off topic but curious to hear who you think the mainstream media is compared to the alternative? It's pretty well known that Joe Rogan has more active listeners than CNN, for example. Is he the MSM? Where/how do you get your news?

      • Clickbait on 02/10/2025 - 11:03

        ABC and the Guardian!

      • smartazz104 on 02/10/2025 - 13:49
        +1

        MSM to them = "news I don't like".

      • dogboy on 02/10/2025 - 14:12
        +2

        It is almost unbelievable that any sane people can listen to Rogan and think any of the BS he talks about has any basis in fact.

    • dogboy on 02/10/2025 - 14:08

      Someone loves their propaganda it seems….who needs reality any more when people believe lies are the truth?!

    • tasty-falafel on 03/10/2025 - 13:21
      +2

      Paul, you are part of the problem. You consume, and then regurgitate right-wing propaganda without any personal thought. If you actually looked into the reason they are shutting down, it has nothing to do with healthcare for illegal aliens. There are some legal immigrants that will get access, but it's nothing to do with illegal immigrants.

    • cashews on 03/10/2025 - 17:08

      Is someone who is "lawfully present" an illegal alien?

  • coffeeinmyveins on 02/10/2025 - 11:55

    That's all well and good but where are the epstein files and why is a convicted criminal and pedo the president of the US?

    • Cluster on 02/10/2025 - 12:01
      +7

      The citizens of the USA have spoken, and knowing who Trump is and how he behaves, they selected him as their leader. No one can say 'I didn't know!' He even warned voters that "tariff" is his favourite word.

      They selected him because they liked what they saw. He got a majority of the votes and electoral college votes.

    • SBOB on 02/10/2025 - 12:51
      +2

      That's all well and good but where are the epstein files and why is a convicted criminal and pedo the president of the US

      As Ted Cruz says,
      "How 'bout we all come together and say, 'Let's stop attacking pedophiles'?"

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