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1 researchok  Wed, Nov 9, 2011 1:29:37am

Soft pedaling, I’d say.

The Euro debacle will take more than a decade to undo.

2 Bob Dillon  Wed, Nov 9, 2011 6:05:47am

re: #1 researchok

We have been in uncharted waters financially for over a decade already. And we are and have been lost nationally and globally for financial resolution. David Walker* started his road trips back around 2004 sounding the warning. Many individuals who heeded his words are, for the most part, now on high ground - in comparison to the masses who are, if not now in, soon to be profound financial trouble.

“Our sense is that if we do not act boldly and if we do not act together, the economy around the world runs the risk of downward spiral of uncertainty, financial instability and potential collapse of global demand,” she said.

Good luck on the “act together” part.

* [Link: en.wikipedia.org…]

The only person/position in the U.S. Government that is actually required to tell the truth.

Campaign for fiscal responsibility

Walker has compared the present-day United States to the Roman Empire in its decline, saying the U.S. government is on a “burning platform” of unsustainable policies and practices with fiscal deficits, expensive overcommitments to government provided health care, swelling Medicare and Social Security costs, the enormous expense of a prospective universal health care system, immigration, and overseas military commitments threatening a crisis if action is not taken soon.[8][9][10][11]

Walker has also taken the position that there will be no technological change that will mitigate health care and social security problems into 2050 despite ongoing discoveries.

In the national press, Walker has been a vocal critic of profligate spending at the federal level. In Fortune magazine, he recently warned that “from Washington, we’ll need leadership rather than laggardship.”;[12] in another op-ed in the Financial Times, he argued that the credit crunch could portend a far greater fiscal crisis;[13] and on CNN, he said that the United States is “underwater to the tune of $50 trillion” in long-term obligations.[14]

He favorably compares the thrift of early Americans, who had debtors’ prisons, with modern times, where “we now have something closer to debtors’ pardons, and that’s not good.”[15][16]


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