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Geek Culture / US government shutting down. can that impact my USD savings (not political)

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PAGAN_old
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Posted: 9th Apr 2011 03:22
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this isnt meant to be political at all, just a question for people who might know this stuff better than me.

so i heard there is a bunch of jerking around in the congress on passing the budget and the government might even shut down untill they get this thing straightened out. The thing is, if this does happen will it effect the economy or the value of the US dollar, because, even tho i live in Russia, i have a bunch of savings in US dollars, and if something happenes to the US economy, i could looke quite a big chunk of those savings and that would be like a chunk i could buy a car with. So should i be worried at all?

dont hate people who rip you off,cheat and get away with it, learn from them
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heyufool1
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Posted: 9th Apr 2011 03:55
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I don't if you should be, but I'll share the only thing that I know that is a little scary. Apparently, if they don't fix the budget (balance it or whatever) then a lot of governmental people will not be getting paid and there won't be any tax returns. This is what I heard from a teacher at least.

"So hold your head up high and know, it's not the end of the road"
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Destrugter 1
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Posted: 9th Apr 2011 04:00
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No tax returns, no passports, the military isn't getting paid. Congress is still getting paid.

Yes it is true, the government will shut down at midnight tonight (4 hours from this post) if they don't reach a decision. This has happened before, it's not like it's never ever happened. It might have a temporary effect, but it shouldn't be bad for the long run.
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PAGAN_old
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Posted: 9th Apr 2011 04:14
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i dont know much about economics but under a normal standard economy, the value of the currency is determined by the output of the countrys industry and if something like the government shutdown occurs i think it should impact the value of the currencey. happened in russia in 1998 when government was in debt, they had no money to pay workers so everyone went on strike, the industry shut down causing a hyperinflation and forcing the government to go bankrupt and start printing new currency

But i am well aware that the fed reserve plays by its own weird scheme which i dont get at all, so thats why i am asking if this whole thing might impact the value of $ or not.

dont hate people who rip you off,cheat and get away with it, learn from them
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Destrugter 1
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Posted: 9th Apr 2011 04:30
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Like I said...in the short term yes...but as far as long term goes I don't think it will affect it very much.

Only time can tell though.
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Phaelax
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Posted: 9th Apr 2011 05:40
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This won't affect your savings. As far as the value of the money itself, it's always affected by the economy and current exchange rates. Our economy has improved some since it went kaboom in 2008, but we're still not worth anymore than the canadian dollar.

Depending on what happens and how long this lasts, the military could either just simply get a delayed paycheck (but would receive back-pay) or only get half a paycheck for the month. I was told this happened once before but only lasted a week. Trust me, in this country not paying the dudes with guns isn't something that lasts very long.

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crispex
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Posted: 9th Apr 2011 05:42
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Honestly, even if it shut down it'd only happen for a few days.

Plus, as stated, it's only affecting government employed workers, such as soldiers and people who run national parks and landmarks.

With the exception of the military, I think the rest of the government could take a pay cut anyway.

I just now realized I've had a typo in my signature for the past 3 years.
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xplosys
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Posted: 9th Apr 2011 05:54 Edited at: 9th Apr 2011 06:46
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Quote: "With the exception of the military, I think the rest of the government could take a pay cut anyway."



All the rest is media hype. I was deeply saddened by the couple in the news who would not be able to go to a National Park on vacation because of the shutdown. My heart goes out to them in this time of terrible misfortune. What is this world coming to!

EDIT: It looks like they've come to short term agreement and the Government will not shut down, at least not for a few days while they work out the rest of the wrinkles.

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Dark Java Dude 64
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Posted: 9th Apr 2011 08:44
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Yeh i checked out CNN.com and that appears to be the case, it cut down Obama's budget by like 78 billion

Special thanks to MrValentine for being an awesome guy!
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PAGAN_old
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Posted: 9th Apr 2011 09:19
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my american friend is in the airforce there and they are already not paying him

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Grog Grueslayer
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Posted: 9th Apr 2011 11:08
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Your money is safe there's no shutdown.

http://news.yahoo.com/s/ap/ap_on_re_us/us_spending_showdown

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PAGAN_old
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Posted: 9th Apr 2011 11:41
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WOOO yay! i kinda get paranoid latley of stuff like that our society will collapse, another great depression or a nuclear reactor next to my apartment menting down. i just feel that is something like this happens i am completley unprepaired. I mean i dont even have my own nuclear bomb shelter yet. also there is the whole deal with the magnetic poles are supposed to shift somewhere between 2012-2015 which is supposed to trigger some major geographic changes around the world

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Grog Grueslayer
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Posted: 9th Apr 2011 18:30
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I'm completely the opposite... I want society to collapse and usher in a Fallout like world where money is worth absolutely nothing.

Not to make you more paranoid but I keep hearing on the internet that there was a slight pole shift because of what happened in Japan recently. But of course it may be propaganda to scare people into thinking doomsday is close.

http://www.voanews.com/english/news/asia/Japans-Earthquake-Alters-Coast-Line-Changes-Earths-Axis-117857349.html

I live in California and the doomsayers are always talking about the biggest earthquake will come soon and it'll split California in half and fall into the ocean. It'll never happen.

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thenerd
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Posted: 9th Apr 2011 20:39
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Quote: "Not to make you more paranoid but I keep hearing on the internet that there was a slight pole shift because of what happened in Japan recently. But of course it may be propaganda to scare people into thinking doomsday is close."

Yeah, half an inch. Not very big...

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xplosys
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Posted: 10th Apr 2011 03:12
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Quote: "I live in California and the doomsayers are always talking about the biggest earthquake will come soon and it'll split California in half and fall into the ocean. It'll never happen."


I has to happen. I saw it in a movie.

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PAGAN_old
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Posted: 11th Apr 2011 16:39
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well apperentley. today the value of the dollar on the russian market went down a little bit so i already lost a bit of money

dont hate people who rip you off,cheat and get away with it, learn from them
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bitJericho
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Posted: 11th Apr 2011 17:00
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Right now as far as I can tell from US media is that the economy is picking up. It may take 5 or more years to get back to where we were. The US government did not shut down and we have a budget in place to get us another 6 months to finalize the budget.

Investments really are a long term thing. In my personal opinion, stock markets are a gamble though. If I personally had a few grand, I'd probably invest it in personal venture, but really a well-rounded portfolio is best.

Good luck!

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