First U.S. Shutdown in 17 Years Imminent With No Talks (Sep 2013)


Source: Bloomberg – First U.S. Shutdown in 17 Years Imminent With No Talks

Notable excerpts:

The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from either the House or Senate to avert it.

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The US Is Teetering On Default (Sep 2013)


Source: BullionStar – The US is teetering on default

Many people recognize the major role the US plays globally. They see her as a military superpower, a giant in the technology and creative industries (think Apple, Google and Hollywood) and the issuer of the foremost world reserve currency. But of late, people are starting to hear news of the US embroiled in a debt crisis. But many think ‘it’s just another recession. They’ll come out of it after a few quarters.’

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Detroit To Stop Paying Some Debt, Putting It In Default (Jun 2013)


Source: Chicago Tribune – Detroit to stop paying some debt, putting it in default

Notable excerpts:

Detroit said on Friday it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the “insolvent” city called on most of its creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing in U.S. history.

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