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Read More: Boehner on Shutdown: "This Isn’t Some Damn Game"; Several Tea Party Republicans Cave-In
View post: Pragmatic Look at the Debt Ceiling Debate; Who Broke Washington?
Excerpt from: Ron Paul Ruins a Great Economic Rant, Being Seriously Wrong on One Key Point
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.
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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
More: Social Security "Lock Box" Revisited (and Its Relation to the Government Shutdown)
Here’s an interesting chart of Spain’s budget allocation courtesy of La Vanguardia .
