Bubble ben bernanke crying again about the debt ceiling, thats right keep spending!!!

Discussion in 'Wall St. News' started by S2007S, Jun 15, 2011.

  1. S2007S


    Thats right keep spending, because thats what the economy needs, a higher debt ceiling!!!!!!!

    Here we are again, another article claiming that not raising the debt ceiling the markets would be harmed, that the US could lose its "PRIZED AAA credit rating". So $14.3 Trillion in debt and not one idea how to stop the spending thats going on, how about instead of raising the debt ceiling they dont do anything and find ways to start cutting immediately, this has become nothing but a joke of an economy, that the only way they know how to do anything is to keep on spending. The sad part about this whole thing is after they raise the debt ceiling they will be spending even more without putting any resolution in place on how to cut the spending that continues. If anything I can guarantee you that after this raise in the debt ceiling it will happen again and again after that. The world is running on nothing but debt and excessive spending. Asset bubbles are growing around the world due to historical low interest rates and trillions of worthless dollars being spread around the globe. Bubble ben bernanke hasn't a clue how to fix this crisis, he thinks everything is going fine and that crying about raising the debt ceiling is going to help the economy, he has no fucking idea the trouble this economy is in, without letting the free markets work there is no fix for the economy. Thank Bubble ben bernanke for the crisis were still in because it still has many, many, many years to go, decades!!!! He will continue to cry and whine about raising the debt ceiling until he gets his way. Geithner is also crying and whining for a raise in the debt ceiling. Notice what happens when an economy becomes dependent on nothing but trillions in spending.

    Failure to Raise US Debt Limit Would Harm Markets: Bernanke
    Reuters | June 14, 2011 | 03:02 PM EDT

    Federal Reserve Chairman Ben Bernanke warned on Tuesday that a failure to lift the government's $14.3 trillion debt ceiling risks a potentially disastrous loss of confidence in America's creditworthiness.

    Bernanke said in the absence of a quick resolution to the battle over the debt limit, the United States could lose its prized AAA credit rating, while the dollar's special status as a reserve currency might be damaged.

    "Even a short suspension of payments on principal or interest on the Treasury's debt obligations could cause severe disruptions in financial markets and the payments system," Bernanke said in remarks prepared for delivery at an event sponsored by the Committee for a Responsible Federal Budget.

    Inaction could also "create fundamental doubts about the creditworthiness of the United States, and damage the special role of the dollar and Treasury securities in global markets in the long term," Bernanke added.

    Vice President Joe Biden and top lawmakers, set to resume budget negotiations on Tuesday, must work around a stark divide on taxes and healthcare as they look for trillions of dollars in savings that would give Congress the political cover to raise the debt ceiling before the government runs out of money.

    The Treasury Department has warned the government will begin defaulting on its obligations—whether debt payments or other bills coming due—if Congress does not increase the limit by Aug. 2.

    "We could actually have a reprise of a financial crisis, if we play this too close to the line. So we're going be working hard over the next month," President Obama warned on Tuesday.
  2. AK100


    How anyone voted for this prick is beyond me. Talk about the definition of style over substance.