Who Will Bail Out the U.S. Government? 20 comments
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In my blog, I thought I was being facetious when I asked the following rhetorical question:
Who will bail out the U.S. Government?
I believe anything can happen, but after digging deeper, I realized there are some serious issues here.
The
How About 230 Billion dollars a year!
Worse yet, the federal deficit for this fiscal year ending September 30 is expected to be in the range of $400 billion - close to the all-time high.
My simple question is where is this going to end?
Have you looked at Tuesday's short-term interest rates? The three-month rates are sickening. Everyone is running to them seeking security. It is possible that the consensus is that these financial companies such as AIG are too big to fail. Is it because of their derivative exposures, which are unregulated with now questionable counterparty risks? There is only about 62 trillion dollars of these floating around.
I love the statement that Dana Perino came out with on Tuesday:
The free market is alive and well. We have systems in place here in our country to be able to deal with shocks to the system like this.
Who will bail out the
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This article has 20 comments:
> jack
Anything he'd say would likely be more delusional pap. I think McCain is done.
Re the Fed, they have already used up almost half their reserve ammo, so it's not looking good here. Good Op-Ed piece in the WSJ today by Stephen Roche forecasting a long drawn out global recession, with much more pain to come, especially in Europe, where the credit swap default exposure remains hidden to date.
The Fed is private bankers. They made their money every step of the way already. We are on the hook with illegal income tax fraud. I'd say the Amero is our next step towards the new world order.
My fellow taxpayers, get your vaseline out and get set for a royal reeming.... or do something about it -- en masse.
I do believe that our country can get out of this but it will mean facing the issue and not bandaging it with bailouts which I think in the end could lead to financial gangrene for the patient.
Gosh it would be nice for the common man to say "oh gee I made a mistake becoming a tradesman, thanks for the $1m so I can continue my ways". No but the government appears ready to help the rich maintain their lifestyles. Disguted!
That may sound like wishful thinking, but a scalding bath may be the only think that works. I agree with Hal P. If we can return to some fiscal sanity and dispense with Uncle Sucker foreign policy, things could get better.
I'm keeping just enough cash in the bank to pay next month's bills--that it.
And treasuries.....flight to safety? You gotta be kidding. How can buying government debt be safe?
You or i print up a $1,000 `worth` - 15 yrs in the slammer. But the Fed Reserve, a private consortium, over the last 95yrs has printed up TRILLIONS of counterfeit $$$ and has always had any President's ear.