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Bloomberg reports The White House, in a statement, urged Boehner to allow a vote on raising the debt limit and repeated that only Congress can authorize more borrowing. Obama, who will make a statement and take questions in the White House briefing room, is willing to negotiate after Republicans end the shutdown and remove the risk of default, the statement said. The split-screen sniping — with Boehner speaking to reporters and Reid speaking on the Senate floor — came as lawmakers are taking the first tentative steps toward resolving the standoff
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In yet another act of economic stupidity, France targets Amazon to protect bookshops . France’s parliament has passed a law preventing internet booksellers from offering free delivery to customers, in an attempt to protect the country’s struggling bookshops from the growing dominance of US online retailer Amazon.
The New York Times has the details in Boehner Tells Republicans He Won’t Let the Nation Default With a budget deal still elusive and a deadline approaching on raising the debt ceiling, Speaker John A. Boehner has told colleagues that he is determined to prevent a federal default and is willing to pass a measure through a combination of Republican and Democratic votes, according to one House Republican.
Reuters reports Pimco’s Gross: Low interest rates may persist for decades Bill Gross, manager of The Pimco Total Return Fund, said on Wednesday that the global economy may be facing low policy rates for decades. Gross wrote in his October investment outlook that investors should "bet against" expectations that the federal funds rate – the U.S. Federal Reserve’s benchmark short-term borrowing rate – will rise by one percentage point by late 2015