Some sense from a political/fed leader?

Discussion in 'Economics' started by Frostie, Apr 25, 2010.

  1. Frostie


    Finally some truth starting to be sputtered by those in charge. I'm glad there are at least 2 politicians world wide with their heads out of the sand.

    "There are substantial fiscal consolidations that are required in a very, very large number of countries," Carney said. "I mean, we've seen warlike spending in peacetime and its going to take concerted effort over a number of years to bring budgets back to a sustainable level."

    He said anyone feeling complacent about averting an even greater economic crisis "hasn't appreciated the scale of what was done" to achieve that.

    "And particularly on the fiscal side (that person) hasn't thought through or appreciated the scale of what will be required to adjust fiscal back to normal."
  2. There's a chance this former gold<b>man</b> might not just be speaking out of the side of his mouth, he might be chewing with his mouth wide-open.

    For a more viable assessment of the situation Canada will face in the coming months and years:
  3. Lethn


    That isn't being open, I still wouldn't be surprised that he thinks that he's doing 'gods work' like the Goldman CEO. I'd say that's just outright arrogance and patronization still myself. We still have the problem of them not being able to admit that illegally printing money is wrong and bailing out their insitutions and banks was a mistake.

    The greater economic crisis is coming because of what Goldman Sachs and the Federal Reserve has done, history is just not on their side.
  4. There's actually quite a few politicians/central bankers arnd the world that have been saying that, including, funnily enough, Uncle Ben.