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The Sharks return to bite the hand that Fed them!

Obama made his first big mistake by giving all that stimulus money in the hopes of Wall Street bailing out America.? He didn’t then and he doesn’t believe it now that instead of giving it to Wall Street and Unions he should have given it to the people.? The people?of America had so much more at stake.? So much more?to lose.? Did Obama see this ? nope!? Now the sharks are back and the people again say no more spending and no more printing money to spend.? Will our elected ignore the people again?

A group of the largest US banks and fund managers stepped up the pressure on Congress and the Obama administration to reach a deal to increase the country?s debt limit, saying that even a short default could be devastating for the financial markets and economy.

The warning over the debt limit is the strongest yet to come from Wall Street, highlighting growing nervousness among investors about the US political system?s ability to forge a consensus on fiscal policy.

The most pressing budgetary issue confronting Congress and the Obama administration is the need to raise the US debt ceiling, which stands at $14,300 billion.

That threshold will be reached by May 16 and the Treasury department has said that in the absence of congressional action, the world?s largest economy could default by early July.

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6 Comments

  1. Do you really believe the Keynesians can put off collapse to the next election?

    That is a great question, that I believe the answer is NO! Oddly enough I wrote an article about the 2012 election as a contributor to another blog. You can read it here: https://standupforamerica.wordpress.com/2011/04/28/a-journey-to-understand/#comment-107971

    Dean if there are any articles on my site that you would like to repost here, feel free to do so. I try to post at least 3 a week, and as summer comes, that may be reduced to two till the weather turns ugly again. If there is anything I can do for, feel free to ask!

    1. Thanks for that. I managed finally to get to your website and read your link. It was right in line with my own thoughts, and I hope you’ll repost it here! It would be most welcome!

      1. Dean, I set up the election article on the dashboard. Publish as you see fit. G!

  2. Thank you Striker.

    I think that has to happen. Never again should we ever get this close to the brink again because of the whims of the elected thinking they are above all.

    Great idea and I really do hope Trump pushes it forward as our next President.

    1. Do you really believe the Keynesians can put off collapse to the next election?

  3. Thank you, Arizona1950, well done.

    A thought tho, no “stimulus” can ever work. Why? Gov can only give away that which it has stolen from someone or somewhere else.

    So stealing from the people to give to some other people is a zero-sum game, minus handling charges and interest forever more.

    The only real tool available to Congress is to absolutely refuse to increase the debt limit. That in itself will put an end to deficit spending and require Congress to cut the budget proposals by 1-2 trillion each and every year.

    A Constitutional Amendment outlawing redistribution should take care of that – what say you?

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