Thursday, April 28, 2011

Something must be done… (yawn!)

Ben Bernanke goes on record to warn US deficit 'not sustainable'

"Obama must address debt quickly, warns Federal Reserve chief, while interest rates will stay low to protect recovery".

Posted by alan @ 07:57 AM (1362 views)
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7 thoughts on “Something must be done… (yawn!)

  • with the fall of russia,the US threw caution to the wind with debt and wall street ensured the rest of the world was in the same boat.

    one day the chinese will stop buying US debt

    not one thing has been learned from the credit crunch and now things are worse than ever…more debt…lower interest rates

    the us is actually in a worse position than ireland its just they are too big to fail…there will be consequences to all this

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  • love the way they address the nation telling “joe public” they will have to cut back. Seem to have plenty of money to start wars all over the world.

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  • @ taffee,
    “…there will be consequences to all this”.

    Gold has hit (another) peak with Silver and other commodities rising too. Dollar seems to be dropping against other currencies.

    I see a number of websites are today working out when the next QE programme might start, and for how much.

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  • I guess that’s the reason for the dollar falling against sterling and euro.

    It was implied that there wouldn’t be QE3. Which I would have thought would make the dollar stronger and PMs fall, bit the opposite seems to have happened.

    Maybe the markets don’t believe Mr. B.

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  • They could give Ocean Finance a call and consolidate all their debts into one easy to manage monthly payment…

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  • [email protected] : like it, even better why bother with the paperwork and head down to wonga dot com, only 23423423423423% APR dont you know!

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  • What about the debts the Fed has racked up to bail out the banks? Oh, that’s OK – it’s all off-budget and doesn’t do any harm apart from trash the dollar and impose a stealth tax on workers and consumers. Fragile recovery? Any recovery (if there is any) is down to an increase in consumption caused by the increased cost of putting food on the table and fuel in the car.

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