US Approaching Insolvency, Fix To Be 'Painful'

[madfranks]

http://www.cnbc.com/id/42209447

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. "The short-term negotiations are very important, I look at this as a tipping point."

But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.

"I think we are at the beginning of the process and it's going to be very painful," he added.

Fisher earlier said the US economic recovery is gathering momentum, adding that he personally was extremely vigilant on inflation pressures.

"We are all mindful of this phenomenon. Speaking personally, I am concerned and I am going to be extremely vigilant on that front," Fisher said in an interview with CNBC.

[madfranks]

"I think we are at the beginning of the process and it's going to be very painful,"

I think he's talking about inflation. Massive, painful, and potentially hyper-inflation is coming our way.

[po boy]

This reminds me of James Traficant's speech
www.youtube.com/watch?v=HdF7Lxc3wp4 (http://www.youtube.com/watch?v=HdF7Lxc3wp4)

[po boy]

Waye Paul telling like it is.
www.youtube.com/watch?v=IlCs7u1ihws&feature=related (http://www.youtube.com/watch?v=IlCs7u1ihws&feature=related)

[Ponce]

To me this is all only yak yak yak because, like many of you, I already know how the book will end......get ready and you won't be sorry.

[Down1]

"I think we are at the beginning of the process and it's going to be very painful,"

I think he's talking about inflation. Massive, painful, and potentially hyper-inflation is coming our way.

I think he is indulging in brainwashing.
Pain is code for tax hikes.
Check out this just written op-ed letter to understand more.

The Moment of Truth” documents that “the problem is real, and the solution will be painful.” It is tempting to act as if the long-run budget imbalance could be fixed by just cutting wasteful government spending or raising taxes on the wealthy. But the facts belie such easy answers.

The commission has proposed a mix of spending cuts and revenue increases. But even this requires cuts in useful programs and entitlements, as well as tax increases for all but the most vulnerable.


Read more: http://www.politico.com/news/stories/0311/51864.html#ixzz1HeJBwEfK

[Twisted Titan]

Only painful for the unprepared.........

[gunDriller]

Only painful for the unprepared.........


also for young people that were fed a line of shit, tried to do the right thing, and are slowing learning, well sort of like the "red pill/ blue pill" thing.

[the biss]

But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.Not gonna happen. The right decisions are to cut spending, starting with the military industrial complex. But now, war is the only US export. We need infinite war to power a few well-heeled companies.

Cut anything else, and the labor unions go berserk.

No, we're pretty well screwed.

[Hillbilly]

I think deporting all Illegal Aliens and Anchor Babies(revoke their citizenship so they can't come back either) would be a great burden lifted off the American Tax payers. That would sure free up a lot jobs for the out of work "true Americans"

[Neuro]

The US is already insolvent, and has been for a looong time. Now the bankruptcy reorganisation is coming, and it is always done through hyperinflation...