With uncharacteristic bluntness, Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt.
Recent events in Europe, where Greece and other nations with large, unsustainable deficits like the United States are having increasing trouble selling their debt to investors, show that the U.S. is vulnerable to a sudden reversal of fortunes that would force taxpayers to pay higher interest rates on the debt, Mr. Bernanke said.
"It's not something that is 10 years away. It affects the markets currently," he told the House Financial Services Committee. "It is possible that bond markets will become worried about the sustainability [of yearly deficits over $1 trillion], and we may find ourselves facing higher interest rates even today."
7 comments:
Think about it.....why would the current administration, purposely force us into a chain reaction world wide economic crisis?
To crash our economy, 10:39. That's been the plan all along.
Then they take over under martial law.
Read Saul Alinsky for more details. That's where they got the plan.
Did anyone else see Glen Beck the other night when they showed how the UN decided to link many countries economizes together so no one would start a nuclear war on the other...there-by destroying themselves economically in a chain reaction? With the UK and Greece in dire straights now...which country will be neck?
I saw hussein caught in 4 different lies in that healthcare showboat.
The current administration doesn't care about the deficit because the end result will be higher taxes which they support. Obama believes the most have too much and the people on the bottom don't have enough. This is simply how you end up "spreading it around".
The Central Banks are printing money out of thin air. They are buying the U.S. Treasuries because no one else will buy them. They are in so doing, "monetizing the debt".
We are becoming the slaves (through taxation) of the Central Banks. Look at WHO OWNS THE CENTRAL BANKS - and you will find the true evil on this planet.
Clue: they are NOT Muslim.
muslim extremists are bad but they are being used by the central banks as a diversion as well as a reason for war ....so that nations can borrow more money and pay more interest...so they can wage more war....so they can borrow more money to wage more war and pay more interest. War is big business for large banks.
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