Max Keiser 2011: Year of the Big U.S. Default?

Jan 7, 2011 at 1:39 AM
DailyBail in Federal Bankruptcy, aaa rating, debt ceiling, federal debt, federal deficit, max keiser, max keiser, national debt, vide3o

Video - Max & Stacy - Jan. 5, 2011

Clip runs 90 seconds.

Discussion of debt ceiling and potential U.S. downgrade, by Moody's presumably, and default.  We've discussed it many time here before - Keiser is being hyperbolic - default is not possible when you're printing the global reserve currency, but a AAA downgrade is not out of the realm of possibilities, especially given Moody's reaction to the irresponsible extension of the Bush tax cuts, that were not offset by any spending cuts.  

• S&P Warns On U.S. AAA Rating -- Follow Recommendations Of Deficit Commission Or Suffer A Downgrade

• Moody's Threatens To Cut US AAA Rating on Tax Package

That's how to show fiscal responsibility, Congress.  Great work.

 

 

 

 

 

Article originally appeared on The Daily Bail (http://dailybail.com/).