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Corrupt Government
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Title: US Approaching Insolvency, Fix To Be 'Painful': Fisher
Source: Rueters
URL Source: http://www.cnbc.com/id/42209447
Published: Mar 22, 2011
Author: CNBC
Post Date: 2011-03-22 12:40:34 by Happy Quanzaa
Keywords: Obamanomics in Action
Views: 3907
Comments: 2

The United States is on a fiscal path towards insolvency and policymakers are at a "tipping point," a Federal Reserve official said on Tuesday.

"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt.

"The short-term negotiations are very important, I look at this as a tipping point."

But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.

"I think we are at the beginning of the process and it's going to be very painful," he added.

Fisher earlier said the US economic recovery is gathering momentum, adding that he personally was extremely vigilant on inflation pressures.

Fisher added that the U.S. Federal Reserve had ways to tighten its monetary policy other than interest rates, including by selling treasuries, changing reserves levels and using time deposits.

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#1. To: Happy Quanzaa (#0)

the U.S. Federal Reserve had ways to tighten its monetary policy other than interest rates, including by selling treasuries, changing reserves levels and using time deposits.

Well, with that bag of tricks, what could possibly go wrong?


"We (government) need to do a lot less, a lot sooner" ~Ron Paul

I recall a re-run of MASH I saw where this uber right winger named Colonel Flagg...
Godwinson posted on 2011-02-23 11:47:32 ET
http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=18011&Disp=46#C46

Hondo68  posted on  2011-03-22   12:47:10 ET  Reply   Trace   Private Reply  


#2. To: Happy Quanzaa (#0)

Painful fisher, hehehe

-------------------------------------
Whatcha lookin' at, butthead
Why don't you make like a tree and get out of here?

Biff Tannen  posted on  2011-03-22   13:17:48 ET  Reply   Trace   Private Reply  


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