Posted on 02/04/2024 4:42:16 PM PST by ChicagoConservative27
Federal Reserve Chair Jerome Powell said “the U.S. is on an unsustainable fiscal path” in an 60 Minutes interview with Scott Pelley released Sunday.
“The U.S. federal government’s on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy. So, it is unsustainable. I don’t think that’s at all controversial,” Powell said when asked if the national debt is a danger to the economy.
(Excerpt) Read more at thehill.com ...
Modification: “Just give me LOTS MORE for my pet projects. Those business execs need the money to recycle back to me.”
““The U.S. federal government’s on an unsustainable fiscal path..”
Now he tells us.
I’ve been saying that for 25 years.
L
Don’t overthink it. ;)
They’re just getting ready to break the eggs…
I am surprised Powell was not asked what revenue increases would be required to fix the fiscal problem. But now that he is on the record announcing the problem, the political left will be sure to follow up to announce the solution.
If they start talking about tax increases in an election cycle it tells you how confident they are about November. If they ignore or bury Powell’s statement, that says something too.
“Massive benefits cuts:
That usually means S.S. is cut first on the elderly.
Wow - you think?
Once financial failure is seen as inevitable, everyone tries to cash in before the collapse.
It’s like a corrupt management looting a failing bank.
You cannot unspend the $10T you printed or borrowed and spent. It’s gone, but the debt remains.
world war to follow.
I think we could all have made that call. 🙄
Try deflating the market figures for the last few years and see if it still looks like skyrocketing....
Bingo! Years of so called “Quantitative Easing” by digital printing of money that went to Wall Street and banks to fake pump the market with FAKE as hell “money”. Powell is outing his own stupidity, and before him.. Janet Yellen (and look where she is now, clueless and crafty evil as ever).
Alan Greenspan, Paul Volcker and a string of other useless “heads” of a PRIVATE bank that Congress borrows money from to re-distribute to their constituencies— and then TAX the hell out of everyone to make up the money- only they don’t make it up. Now 34 trillion in debt and way over 240 trillion in UNFUNDED mandates of “law” decided by corrupt career legislators in unholy alliance with “Daddy’s” credit card— the Federal Reserve Bank. Naw- none of these had anything to do with it— right?
[Too late. Catastrophe is baked in.]
That is absolutely correct. This WILL NOT be avoided.
It is impossible.
Which is probably why they want World War III. They need a bigger disaster for the masses to focus their attention on.
This is almost like Bruce Ismay declaring the Titanic hit the iceberg out of “recklessness”. Trying to get ahead of the looming disaster that cannot be avoided though they were certainly part of making it happen.
Massive benefits cuts, tax increases, and default.
Pick 2. You might get all three.
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Only two of the three will happen over the next few years.
Benefit cuts & defaults.
Taxes go down during a deflationary descent.(Which is just beginning)
Aren’t you overlooking currency debasement? The most likely scenario imo. It’s been ongoing for years.
Aren’t you overlooking currency debasement? The most likely scenario imo. It’s been ongoing for years.
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Currency debasement is a made up word for people who don’t understand currency.
Debased currency
Enhanced currency
Unclebankster- “Its the same damn thing”............currency.
“Currency debasement is a made up word for people who don’t understand currency”
https://www.investopedia.com/terms/d/debasement.asp
“Today, debasement can happen if a government prints more money, increasing the money supply without a corresponding increase in output.”
“Today, most currencies are fiat currencies and are not based on a precious metal. So, debasement only requires that the government print more money, or since much money exists only in digital accounts, create more electronically.”
There must be a reason he is.
Fiat currency
Debased currency
Enhanced currency = currency.
Ford currency
GM currency
Weyerhaeuser currency
IP currency
KEY currency= they all can become a currency.
You can call it anything you want.
What’s the value/valuation/price?
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