Tuesday, January 8, 2019

So far the typical person barely feels it

As Government Shutdown Persists, Americans
Feel the Bite https://nyti.ms/2RAGMnj
NYT - Jim Tankersley, Matthew Goldstein
and Glenn Thrush - Jan. 7, 2019
WASHINGTON — The impact of a partial government shutdown began to ripple across the economy as it stretched into Day 17, with mortgage applications delayed, public companies unable to get approval to raise capital and thousands of Secret Service agents expected to show up for work without pay.President Trump and congressional Democrats have made little progress in negotiations to end a shutdown that has affected about 800,000 federal workers, many of whom will miss their first paycheck this week, and who owe a combined $249 million in monthly mortgage payments, according to the online real estate firm Zillow.

The headline is fake news, federal workers are not a representative sample.   On the ratio, 800,000 workers is way less than 1% of the total.  But the readers cannot catch the fraud, so the usual set of actors begin the fake hysteria, and we have to go through that mass illness.

This is big, but it is big for a simple reason, we can only afford government if it shuts down periodically, it is the only way government can manage liquidity.

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