Bernanke warns that the US debt is "unsustainable."

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Bernanke is a boob.

Where were his warnings when W, BO, and Congress spent and spent? And, he still said nothing about Obummercare too.

The guy is a major league fool.
 
Bernanke is a boob.

Where were his warnings when W, BO, and Congress spent and spent? And, he still said nothing about Obummercare too.

The guy is a major league fool.

So, you think he is wrong about the debt being unsustainable?:confused:
 
no, he's right nut he might have considered pointing this out BEFORE the unsustainable debt was created inswtead of trying to curry favor to keep his job.

OK, you have a point there. Why wait so long? He was appointed in February of 2006. Maybe runaway government growth and the burgeoning debt had already become unmanageable by then, I'm not sure.
 
OK, you have a point there. Why wait so long? He was appointed in February of 2006. Maybe runaway government growth and the burgeoning debt had already become unmanageable by then, I'm not sure.

Thank you THC.

Many warned of overspending when W was doing it. Now, BO is spending exponentially more and libs complain about W's spending. Crazy.

The problem libs and progressives ignore is big government spending is always counterproductive and limits economic growth. Huge deficit spending leads to economic disaster. This is econ 101.
 
This is not really new, Moody's has been warning of a US downgrade for months now.


China's rating agency just downgraded us (among others in the Eurozone) this week.

And the Fed finally broke down and threw prezbo under the bus when they said it would be 5-6 YEARS before a recovery.
 
China's rating agency just downgraded us (among others in the Eurozone) this week.

And the Fed finally broke down and threw prezbo under the bus when they said it would be 5-6 YEARS before a recovery.


That Chinese downgrade though has little real impact however.
 
I am a lot of things, but I am not an economist. Are there any who visit this site? I would appreciate their comments.

Seems to me if China starts selling/shorting dollars in a big way they could drive the value of the dollar down big time. Resulting in devaluing our currency, crashing our markets, and possibly pushing us into a depression. While it seems unlikely they would do this because they hold so many dollars. Why would they want to devalue the dollar? Except they are communists and they might like to see us knocked down a peg or two.
 
I am a lot of things, but I am not an economist. Are there any who visit this site? I would appreciate their comments.

Seems to me if China starts selling/shorting dollars in a big way they could drive the value of the dollar down big time. Resulting in devaluing our currency, crashing our markets, and possibly pushing us into a depression. While it seems unlikely they would do this because they hold so many dollars. Why would they want to devalue the dollar? Except they are communists and they might like to see us knocked down a peg or two.

When they were Communists, they didn't have to economic power to do squat. Now that they've discovered capitalism, the last thing they want to do is devalue all of those dollars they own. They are keeping their own currency artificially low in order to have a more favorable balance of trade.

Why knock down your financial subjects? Keep them fat and happy buying cheap Chinese goods at Wal Mart and having their tax cuts and government expansions.
 
Werbung:
I am a lot of things, but I am not an economist. Are there any who visit this site? I would appreciate their comments.

Seems to me if China starts selling/shorting dollars in a big way they could drive the value of the dollar down big time. Resulting in devaluing our currency, crashing our markets, and possibly pushing us into a depression. While it seems unlikely they would do this because they hold so many dollars. Why would they want to devalue the dollar? Except they are communists and they might like to see us knocked down a peg or two.


They wont do anything dramatic as it hurts them in the process. But they can influence our markets costing investors to live with uncertainly at their whim. They don't need to crush us but you are correct to point out that they could. The troubling part is how they are scooping up gold as a possible hedge against having to pull that rigger.
 
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