Tuesday, March 22, 2011

US Approaching Insolvency, Fix To Be 'Painful': Fisher

This article appeared on the CNBC website. Let's see... what part of "duh!" don't we understand? It isn't as if we haven't been on this trajectory for decades, and nobody warned us!
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.
No $h!t, Sherlock! (Continue reading...)

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