Gross: Shutdown Costs Economy 0.1% Per Week

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Oct. 1 (Bloomberg) -- Pimco's Bill Gross discusses the economic impact of the U.S. government shutdown on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Continues, it probably affects economic growth by .1% a week.

That is what happened in 1995 with the gingrich shutdown.

It has happened before that.

In terms of prior shutdowns, there have been many.

There will be a slowdown in economic growth.

Fourth-quarter economic growth will continue for three weeks.

They quickly were repaired.

There is no eventual impact in terms of economic growth.

Much ado about nothing.

The big date is october 17 on the debt ceiling.

We will see if the dates can be merged together and show a category five storm instead of a category one.

Do think there is a chance it could be a category five?

With the debt ceiling we will have to see.

It is a delicate dance in terms of rating services and the like.

The rating services at this point very boldly suggested that they did not do anything.

The real happy service compared to some of the other standard.

It might take a more dour outlook.

It is the investors.

The retail investors.

The central banks of the world that will be affected by this delicate dance and so want to collect a fiasco in washington that continues without some type of resolution.

It can be important.

It is a big one.

Last time we saw congress had a real progress was 2011.

This text has been automatically generated. It may not be 100% accurate.

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