Congress "nutters" risk global finance: UK minister

LONDON - Right-wing "nutters" in the United States Congress holding up a deal to prevent a catastrophic debt default are a greater risk to the global financial system than problems in the euro zone, a British minister said Sunday.

Business Secretary Vince Cable said "irresponsible" people who had been gleefully anticipating the collapse of the euro currency had been confounded after European leaders agreed a second rescue package for debt-stricken Greece last week.

"The irony of the situation at the moment, with markets opening tomorrow morning, is that the biggest threat to the world financial system comes from a few right-wing nutters in the American congress rather than the euro zone," he told BBC television.

http://www.cnbc.com/id/43871279

 

Well, US default is more dangerous hazard to global financial system than Greek default. However, maintaining US debt cap at the cost of the default would be a great long-term move for most US tax-paying residents, not so good for banks.

Given the recent bailout package for Greece I would think in the immediate term US default is more likely than Greek one.

 

Let the f'ing Brit service the f'ing United States debt he loves sooo much!!!! Otherwise, he can leave the US citizens alone and he can blow himself! This kind of reminds me of the a$$hats from non-US territories who think they deserve the "right" to vote in US elections!

 

Everyone is entitled to voice opinion on the forums... however misjudged or unsubstantiated it is.

 

I was referring to the jacka$$ Business Secretary from the UK
I was NOT referring to the OP.

 

Is this post a joke? You know the whole world hates you because you go rounding telling everyone what to do and how to behave?

“You can always count on Americans to do the right thing - after they've tried everything else.” Winston Churchill.

I think the above quote is very fitting at the moment.

 

YOU don't seem to get it! The American PUBLIC does NO SUCH THING! The a$$holes who have been SELECTED TO LEAD THE US do this. If you think US elections are NOT rigged...you have no idea about reality! The average American does NOT want to tell any other nation what to do. We do NOT agree with having the US military in 139 different territories/nations. We do NOT want to be the world's police! We do NOT agree with the "free trade" that has been used to GUT the US of good manufacturing and R&D jobs! We do NOT agree with the outsourcing that has stripped the wealth of the US. We do NOT agree with the a$$holes of Wall Street, who care only for themselves and not their fellow Americans!

As for the Brits telling us what to do...they started the "Quantitative Easing" bullSh!t - because the US and UK citizens would be up in arms if the real term - "printing money from nothing" were used.

 

Your Fu*(& morons are about as clueless as the rest of the "SHEEPOPLE about the "RISK OF DEFAULT". A "DEFAULT WILL NOT HAPPEN! This is a huge Buying Opportunity for a short spike when they reach a deal.

However , S&P will still downgrade if the US increases it's debt ceiling and does not get spending under control as will the ASIAN TIGERS dump their US BONDS on the open market than most of you nitwitz could tune into your CNBC show full of ass clown Pundits.

Finally, Futures INDX futures are down 120 which, considering all the financial storms brewing world wide, is nothing.

DOW should be trading near 6300-6500 and no where near these levels.

Thin volume, average joes fleeing the market and zero trust in the WALL STREET or the FED GOV.

Fall is going to be brutal as is the 4th quarter.

They will reach a deal because the REPS in office will sell out to the BIG GOVERNMENT IDEA and sell out to SOCIALISM.

 

+10

 

even the British official's bladder did not hold. the media has done a great job creating fear out of thin air.