Erskine Bowles Testifies On "The Most Predictable Economic Crisis In History; We Have 2 Years Left To Act"
Video - Erskine Bowles - April 4, 2011
“I'm really concerned. I think we face the most predictable economic crisis in history. A lot of us sitting in this room didn't see this last crisis as it came upon us. But this one is really easy to see. The fiscal path we are on today is simply not sustainable."
“This debt and these deficits that we are incurring on an annual basis are like a cancer and they are truly going to destroy this country from within unless we have the common sense to do something about it.”
“I used to say that I got into this thing for my grandchildren. I have eight grandchildren under five years old. I'll have one more in a week. And my life is wonderful and it is wild. But this problem is going to happen long before my grandchildren grow up."
“This problem is going to happen, like the former chairman of the Fed said, or the Moody's said, this is a problem we're going to have to face up. It may be two years, you know, maybe a little less, maybe a little more. But if our bankers over there in Asia begin to believe that we're not going to be solid on our debt, that we're not going to be able to meet our obligations, just stop and think for a minute what happens if they just stop buying our debt."
“What happens to interest rates? And what happens to the U.S. economy? The markets will absolutely devastate us if we don't step up to this problem. The problem is real, the solutions are painful, and we have to act.”
Reader Comments (11)
http://online.wsj.com/article/SB10001424052748703712504576236933883797152.html?mod=rss_whats_news_us
http://www.bloomberg.com/news/2011-04-02/goldman-sachs-almost-doubles-blankfein-pay-package-to-19-million-for-2010.html
http://www.creditslips.org/creditslips/2011/03/the-banks-servicing-fraud-settlement-proposal.html
Retiree costs unlikely to cause defaults, investors say
http://www.marketwatch.com/story/wisconsin-illinois-pension-woes-weigh-on-munis-2011-04-05
http://www.marketwatch.com/story/bond-investors-get-ready-for-rising-rates-2011-04-01
Using ETFs to short the bond market
http://www.marketwatch.com/story/what-do-bill-and-warren-know-that-we-dont-2011-04-04
http://www.oftwominds.com/blogapril11/Obama-loses-2012-4-11.html
Are You Better Off Under the Obama Administration?
See full article from DailyFinance: http://srph.it/hjlkIY
We shall see but one thing is certain the middle class is being systematically wiped out and Obama with his wall street masters are in many ways an even worse deception he actually managed to fool the majority in the last election that he wasn't bought and paid for.
Barack’s Wall Street Problem is Now America’s
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/
http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html
http://www.huffingtonpost.com/2009/01/14/bailed-out-banks-donating_n_157960.html
Old-Thinker News | August 19, 2010
By Daniel Taylor
This small part seems like the plan has worked...where are the warriors?
Dr. Clymer warns that such chemicals are to feminize men,
“Every vigilant human being should be concerned with several important factors involved: The methods or means by which it is possible to change man’s characteristics as easily as the animal’s. Man is a warrior by nature, the protector of his family, and his own rights and privileges; an individual, a free man… A being who has wrought great things and who, if not interfered with, will do even greater things. This being is to be turned into a lesser female; unable, even unwilling, to defend himself, much less his family or country; becoming a slave…”
They are a complete joke! Barack Obama and his "Obama Doctrine" seems to be working just fine. http://therealrevo.com/blog/?p=42807
Next on the agenda will be the Democrats blaming the Republicans for the government shut down when they continue with their excessive spending of our grandkids future. The Chinese are laughing at us right about now. http://www.thetrumpet.com/?q=2460.1126.0.0