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Michele Bachmann (R-Mars): We're Not Afraid of a Shutdown

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Skip Intro9/29/2013 5:49:37 pm PDT

re: #30 klys

/makes mental note to ignore the markets tomorrow, because hopefully it’ll go back up eventually.

After hours trading in the US markets already have stocks tanking, after a week of doing the same in anticipation of what the Lunatic Party is about to do.

YDNEY (Reuters) - U.S. stock futures and the dollar came under pressure on Monday as a shutdown of the U.S. government seemed increasingly likely, though the euro had political troubles of its own as the Italian government teetered on the edge of collapse.

The end result was a shift out of equities and toward safe havens including the yen, Swiss franc and some sovereign debt. U.S. Treasuries also benefited from a view that the economic damage done by a government closure would be yet another reason for the Federal Reserve to keep interest rates low for longer.

“Weekend political dynamics in the U.S. and Italy are likely to keep markets on the defensive at the start of a busy week for data and policy events,” Barclays analysts wrote in a note.

The damage was clear in U.S. stock futures where the S&P 500 contract shed 0.7 percent, as did the E-MINI S&P.

Asian stocks followed, though markets in the region are often reluctant to be first to react to U.S. and European events that happen over the weekend.

Thanks loads, you teabagging assholes. You should all be brought up on charges.