UPDATE 2-Treasury's Lew warns that U.S. default could happen quickly

Comments (4)
PlanetPonzi wrote:

Good one Jack! If money printing was the answer give every American a printing press…Next QE are we headed to 300 Billion per month? Or try using the Hank Paulson Goldman scare tactic while your MSM’s propaganda and enlightenment try and divert, deflect yes-man-Yellen’s role & 17 Trillion in reckless DEBT into a partisan battle (like the super bowl; democrats V republicans) – I’m sorry it’s not. In 2005, Yellen denied excess leverage and credit were causing a bubble; in fact, she stated “their is and will be no housing bubble”…It comes down to basics – providing unlimited liquidity is no cure for insolvency. It creates a bigger systemic problem that ends with a massive collapse. Spending 10 times revenues plus no idea what the ramifications of JPM’s 73 trillion in on-balance sheet derivatives means spells disaster. The opaque Fed needs to be independently audited and wound-down. Unfortunately, this will not happen until it is too late and their 4+ trillion balance sheet has imploded. You have yes-man piloting the Titanic who will ensure the Fed goes down in history for causing the biggest mis-allocation of capital responsible for bringing down the global banking system. Under FOMC boss Ex Goldman Dudley – Bernanke and Yellen’s actions will make the great depression look tame.

Feb 03, 2014 1:04pm EST  --  Report as abuse
PlanetPonzi wrote:

Good one Jack! If money printing was the answer give every American a printing press…Next QE are we headed to 300 Billion per month? Or try using the Hank Paulson Goldman scare tactic while your MSM’s propaganda and enlightenment try and divert, deflect yes-man-Yellen’s role & 17 Trillion in reckless DEBT into a partisan battle (like the super bowl; democrats V republicans) – I’m sorry it’s not. In 2005, Yellen denied excess leverage and credit were causing a bubble; in fact, she stated “their is and will be no housing bubble”…It comes down to basics – providing unlimited liquidity is no cure for insolvency. It creates a bigger systemic problem that ends with a massive collapse. Spending 10 times revenues plus no idea what the ramifications of JPM’s 73 trillion in on-balance sheet derivatives means spells disaster. The opaque Fed needs to be independently audited and wound-down. Unfortunately, this will not happen until it is too late and their 4+ trillion balance sheet has imploded. You have yes-man piloting the Titanic who will ensure the Fed goes down in history for causing the biggest mis-allocation of capital responsible for bringing down the global banking system. Under FOMC boss Ex Goldman Dudley – Bernanke and Yellen’s actions will make the great depression look tame.

Feb 03, 2014 1:04pm EST  --  Report as abuse
Mr_Z wrote:

If i cant increase my debt, I will not be able to pay you back.
Thats like saying if I cant have more alcohol, I will not be able to sober up.

Feb 03, 2014 1:49pm EST  --  Report as abuse
bertanderson wrote:

That would definitely add insult to injury if we again go right up to the deadline on the debt. As I write this, the US debt is at $17.4 trillion. The bond buy program will bring it over $18 trillion before it is wrapped up. Then what? What is the strategy to pay it down, if unemployment is still low, corporate taxes are still low and manufacturing is slowing. The housing market is also slowing and hopefully not reversing course.

Feb 03, 2014 3:25pm EST  --  Report as abuse
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