US Approaching Insolvency!
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US Approaching Insolvency!
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03-22-2011 09:45 PM#1
JayRodneyⓐⓛⓘⓔⓝ
Posts: 30,643Joined: Feb 2011
US Approaching Insolvency!
US Approaching Insolvency, Fix To Be 'Painful': Fisher

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.

Read it all at cnbc.com

At least he admits it, on the other hand, all economic indicators point to the fact that the US is already quite insolvent, and very much in denial.

Lawmakers say insolvent? How dare you? We can't be broke, the Fed is still printing money. vic.gif

Until we begin to hold our lawmakers and bankers accountable there will be no recovery period. Ever. That may be the one last thing you can take to the proverbial bank.

wonder.gif
03-22-2011 09:58 PM#2
Anonymous KritterIncognitoAnonymous
 
RE: US Approaching Insolvency!
The fact that we keep borrowing and still CAN'T stay afloat proves we're insolvent. The economy is done, stick a fork in it.
03-22-2011 10:08 PM#3
RossIncognitoAnonymous
 
RE: US Approaching Insolvency!
Corporations, the rich and the politicians who are paid to do their bidding are the three biggest problems aside from the never ending wars policy we can no longer pay for because WE'RE INSOLVENT.
They have an obligation to pay their fair share like everyone else, but they do not because they pay congress rather than taxes.
They "earned" a lot more wealth than anyone else and therefore must put more into the pot. If they don't like it, let them move away or good luck running their empire from a cell.
03-22-2011 10:18 PM#4
JayRodneyⓐⓛⓘⓔⓝ
Posts: 30,643Joined: Feb 2011
RE: US Approaching Insolvency!
Nearly 20% of American's are unemployed or under-employed, couple that with 2 ½ elective wars, a Congress that cant stop throwing money at banks, corporations and the rich, while the average citizens picking up the tab are facing record home foreclosures.

There isn't even a significant manufacturing base left to facilitate real recovery. Insolvency? You bet.

wonder.gif
03-24-2011 11:55 PM#5
KreeperGriobhtha
Posts: 9,571Joined: Feb 2011
RE: US Approaching Insolvency!

İmage
Did you come here to play Jesus to all the lepers in your head?
03-25-2011 02:20 AM#6
JayRodneyⓐⓛⓘⓔⓝ
Posts: 30,643Joined: Feb 2011
RE: US Approaching Insolvency!
reading.gif doobie.gif drinking.gif

wonder.gif
03-25-2011 01:49 PM#7
ShadowMrs. Buckwheat
Posts: 13,527Joined: Feb 2011
RE: US Approaching Insolvency!
National Debt Grows From $13T To $14T In 6 Months

http://dailybail.com/home/national-debt-...onths.html

coffeetime.gif
03-25-2011 02:23 PM#8
JayRodneyⓐⓛⓘⓔⓝ
Posts: 30,643Joined: Feb 2011
RE: US Approaching Insolvency!
rofl.gif This is such a joke, the insolvent government, the so called leaders, the worthless fiat currency.
Sorry, I can't buy into this anymore.

wonder.gif
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