Tuesday, October 1, 2013

Front-running the Government Shutdown... from Behind

In keeping with the spirit of the day, the staff and writers of Money Daily took most of Monday off, but will be back with a better-than-bare-bones edition on Tuesday, probably.

Since the government shutdown of all "non-essential" services (and there you have it in a nutshell, if some government services are non-essential, why have them at all? A good place to start cutting.) is part farce and part fantasy, we shall endeavor to not overly satirize the proceedings.

Mail will still be delivered, planes will fly (and land, we hope), and welfare checks and food stamps will continue to supply the Free Sh-T Army.

Nothing much will change in any large way, unless the shutdown lasts for more than a few weeks and bumps up against the semi-artificial deadline set by Treasury Secretary Jack Lew of October 17, the date at which the government will run out of money and not be able to borrow more.

Then it may be time to break out the MREs and bottled water.

Monday's Results (pre-shutdown)
Dow 15,129.67, -128.57 (0.84%)
Nasdaq 3,771.48, -10.12 (0.27%)
S&P 500 1,681.55, -10.20 (0.60%)
10-Yr Bond 2.6150%, -0.0040
WTI crude oil: 102.33, -0.54
Gold: 1,327.00, -12.20
Silver: 21.71, -0.123

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