CNN: Should the USA still be AAA? “Some think the U.S. may not be able to hold on to its perfect credit rating indefinitely considering how much money the Fed, Congress and the Treasury Department have thrown at the economy in their attempt to lift it from this recession. ‘The only reason someone who bought a Treasury can get their money is that the government is able to borrow more money to pay them off,’ said Peter Schiff, president of brokerage firm Euro Pacific Capital. ‘It’s impossible for us to just keep going deeper and deeper into debt.’ Still, that seems to be exactly what the government will be doing.” Hey Bernie Madoff kept things going for 20 years . . . .
Meanwhile, look at what the Bank of England is saying: “Mervyn King, the governor of the Bank of England, has cautioned against further significant government spending to stimulate the economy.” Basically, they’re out of money. Coming here next? It would be a major shift for “Helicopter Ben” Bernanke . . . .
And didn’t President Obama say last night that the way to prevent a recurrence of our present financial problem was to have national healthcare? Doesn’t Britain already have national healthcare? So why are they having the same problems?