What the Shutdown Cost America, & 6 More Things You'll Want to Know Today

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Budget Battle (A view of the U.S. Capitol building on Tuesday, Oct. 15, 2013 in Washington. The partial government shutdown is i
AP
Here's a quick rundown from the world of business and economics this morning: the things you need to know, and some you'll just want to know.

• Good news: Republican congressional leaders finally released their economic hostage, allowing votes to reopen the government and raise the debt ceiling. Bad news: The 16-day government shutdown cost the U.S. economy an estimated $24 billion, and took a significant bite out of GDP growth, according to a preliminary analysis by Standard & Poor's.

• And, even though it's over, the federal budget brouhaha is expected to translate into holiday season hum-buggery at the mall. The National Retail Federation reports that shoppers plan to cut their spending on presents and holiday preparations this year, and many blame the economy and the political outlook for their negativity.

• Think your boss is difficult and that you're underpaid? Well, there are still about 30 million people trapped in actual slavery worldwide, according to the newly released Global Slavery Index 2013. India has the most people living as slaves: 14 million. But the island nation of Mauritania has the highest proportion: About 4 percent of its population is enslaved.

• A Texas jury ruled billionaire Mark Cuban not guilty of insider trading Wednesday. The Securities and Exchange Commission had charged him with having used nonpublic information when he sold his 600,000 shares of Internet search company Mamma.com in 2004 -- then worth $7.9 million. By selling when he did, he dodged a $750,000 loss -- pocket change compared to his estimated $2.5 billion net worth.

• Financial industry titan Goldman Sachs (GS) saw its revenue plunge by 20 percent last quarter due to its clients pulling back on their trading activities, but the bank kept its earnings about the same by cutting costs -- primarily employee compensation. It also boosted its dividend by 10 percent.

• In the world of alternative energy, fuel cells occupy a troubled place: They work well, are environmentally friendly -- and remain a boutique technology that has never turned a profit for any manufacturer because they're just too expensive. Chip Bottone, CEO of FuelCell Energy, may be very close to changing that.

• And finally, we've long known that thinking about sex can make men ... well, stupider. A new study reveals we're not alone: Just thinking about something sexy makes women more likely to engage in risky financial behavior.

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58 Comments

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Adele

http://crooksandliars.com/karoli/ted-cruz-grifter-who-believes-divine-wealth

October 19 2013 at 9:50 PM Report abuse rate up rate down Reply
svfortuna

Isn't the cost of unsustainable spending a little more important than a temporary shut down?
What is costlier, bankruptcy or default? Or another way to look at it is how much longer can we continue to borrow money we have absolutely no intention of ever paying back

October 18 2013 at 1:49 AM Report abuse -3 rate up rate down Reply
willypfistergash

Still waiting for obama to utter the words clinton did:

"The era of big government is over."

October 18 2013 at 1:18 AM Report abuse -4 rate up rate down Reply
willypfistergash

It's already started....the vile hate speech and character assassinations that is politics and campaigning of the rabid vile sub human left. Hillary of course is going to run for pres in 2016, and old joe biden is rumored to run as well. Hillary got a running start, threw joe under the bus, climbed in the bus then drove it over him. Off record becomes on record as she says that joe was weak on the osama bin laden decision. You gotta knkw that joe is gonna climb out from under the bus and go into attack mode on benghazi when the truth finally comes out.

Couple this with howard "EEEEEEEEYEAAAAAAAAAAAAA!!!!!" dean, and everyones favorite high ceekboned native American lizzy borden......I mean lizzy warren, and it won't be long before they start throwing their poop at eachother like a bunch of angry monkeys. You thought obama/hillary 2008 got nasty? Just wait until these angry marxists let loose! This is going to be good.

BTW...Where have they been hiding old joe? Him and hillary have been oddly silent over the last three weeks.

October 17 2013 at 11:23 PM Report abuse -7 rate up rate down Reply
raydelv

First of all this article is bias against the GOP. The Republican House passed separate bills to fund the government and open as much of the Government. The democrat lead by Harry Reid did not bring the house bills to a vote and Obama threatened to veto them because he wanted one package.

October 17 2013 at 11:22 PM Report abuse -2 rate up rate down Reply
1 reply to raydelv's comment
mac2jr

Do you have any idea why the Republicans passed separate Bills instead of just do what they finally did? It is an old political ploy, during the elections they can say that so and so voted against this or that Bill in an attempt to make people 'Think' the opponent is a bad guy, when the REAL BAD GUY is actually themselves.

October 18 2013 at 2:36 AM Report abuse +1 rate up rate down Reply
1 reply to mac2jr's comment
willypfistergash

I know you would just love the single.party rule of places like Cuba.

October 18 2013 at 5:20 PM Report abuse +1 rate up rate down
bambamsgolfcart

The Reid's and the Bambama's went along living lavishly while so many had to do without during the Bam bam & Reid government shut down.

October 17 2013 at 10:24 PM Report abuse -3 rate up rate down Reply
1 reply to bambamsgolfcart's comment
swissmissbachmann

Don't forget me and Johnny and Mitchy and Teddy, continued to live high off the hog too. We even grandstanded at the war memorial and criticized a federal worker and waved confederate flags. We can hardly wait til the new year to do it all over again.

October 17 2013 at 10:34 PM Report abuse +2 rate up rate down Reply
1 reply to swissmissbachmann's comment
willypfistergash

Are there photos of this? Cruz palin and bachmann with confederate flags?

October 17 2013 at 10:58 PM Report abuse -3 rate up rate down
bambamsgolfcart

badsomey
Why should he? All he had to do was to wait and let the scumlicans take the heat.

==============================
I don't think Bam bam and Reid would appreciate you referring to them as scum. But then again the truth be told.

October 17 2013 at 10:21 PM Report abuse -5 rate up rate down Reply
bambamsgolfcart

swissmissbachmann
I'm all for voter suppression too. It really helps us out when we can turn away citizens from the polls.

========================

Just wait until all the bam bammers that wanted Obambam care have to show an ID. It's a shame the doctors and hospitals will have to turn the bam bammers away.

October 17 2013 at 10:19 PM Report abuse -2 rate up rate down Reply
1 reply to bambamsgolfcart's comment
swissmissbachmann

I know I can't wait, we teaparty folks love seeing people without healthcare coverage. We hate coverage for people, only a few should have it.

October 17 2013 at 10:38 PM Report abuse +1 rate up rate down Reply
1 reply to swissmissbachmann's comment
willypfistergash

How many don't have health insurance?

October 17 2013 at 11:01 PM Report abuse -2 rate up rate down
bambamsgolfcart

I wonder if any of Michelle O's 42 staffers/servants were layed off during the shut down

October 17 2013 at 10:17 PM Report abuse -3 rate up rate down Reply
1 reply to bambamsgolfcart's comment
swissmissbachmann

I know this Micheles staffers were layed off and I told em don't expect to get any back pay either, the slouches!

October 17 2013 at 10:39 PM Report abuse +2 rate up rate down Reply
bambamsgolfcart

Obama didn't care that the government was shut down as long as the golf courses remained open.

October 17 2013 at 10:15 PM Report abuse -3 rate up rate down Reply