Bernanke delivers blunt warning on U.S. debt

Discussion in 'Economics' started by WallStWhizKid, Feb 26, 2010.



  1. As many anti-bailout/anti-stimulus posts as have been put on this site, there is no one cutting the Fed any slack. I'm sure Congress will make certain the financial industry feels a fair share of any burden from spending cuts and tax raises.

    Plus, keep in mind that Congress voted to authorize the bailout. The same Congress that the peasants voted for. Perhaps the peasants should more carefully choose those they elect to represent them.
     
    #21     Feb 26, 2010
  2. For the most part, the peasants have been sold out. I'm not saying they are completely irrelevant, but they don't rank anywhere near Wall Street.

    Wall Street donated twice as much to the Dems last election cycle than they did to the Repubs. Guess what's going on now? The numbers are evening out now - they are hedging for a possible Republican takeover. Scott Brown's win was heavily financed by Wall Street.

    The peasants have no shot. They're toast. Only a third party, or an Amendment to the Constitution on campaign finance will change things.
     
    #22     Feb 26, 2010
  3. Illum

    Illum

    France faced an interesting situation long ago. They owed a tremendous amount to foreign bankers. They called them satanic and burnt them at the stake, no more debt.
     
    #23     Feb 26, 2010

  4. A turning oint in this Country's history was when Ross Perot dropped out of the election back in 1992. He was actually ahead in the polls I believe. When he came back, people did not trust him anymore. If Perot had stayed in and won, we would have a viable three+ party system, as you speak of, now.
     
    #24     Feb 26, 2010
  5. I was in college and voted for Perot in 1992.

    :cool:

    If he won, things would have been very different right now. He was addressing unfair trade agreements, deficit spending, entitlement costs... well before they reached crisis levels.

    I see the Republicans getting a huge bump, if not control of the Senate in November. That would be great, because I don't see things getting any better for a long time. If anything, I'd say the odds for another financial crisis before 2012 are pretty high. We still have commercial real estate, option arm mortgages, and many private equity financed companies ready to tank.

    So, with both parties in control as things get worse, it will be pefect timing for a third party candidate. Both parties will be at fault and the single party voters that blindly follow their party will finally look elsewhere for leadership.
     
    #25     Feb 26, 2010
  6. Maybe Ron Paul will run as a Republican presidential candidate.

    http://www.ronpaul.com/
     
    #26     Feb 26, 2010

  7. He and Fischer are now on record as saying the Fed will not monetize. Of course, they could both be liars as Bernanke told a few in 2008 with the waffen ss Paulson threatening the country with martial law. For some reason, I think Bernanke knows exactly what is going to happen and his conscience is finally bothering him. On the other hand, I could have him pegged wrong and he is actually a useless pile of refuse like the rest.
     
    #27     Feb 26, 2010
  8. ET99

    ET99


    wait till China stop buying US bonds.

    http://edition.cnn.com/video/#/video/business/2010/02/28/chang.china.train.expansion.cnn
     
    #28     Feb 28, 2010
  9. I do hope the republicans win back congress and the presidency.

    When everything collapses, the dumb voter will finally figure out the blighted cancer that is the republican party and its voters.



     
    #29     Mar 1, 2010
  10. #30     Mar 1, 2010