Tipping point

Dallas Fed President Warns: US Debt Situation At “Tipping Point”

March 24, 2011 – 12:29 pm

Source: SHTFPlan
The latest comments from Dallas Federal Reserve President Richard Fisher at the House of Finance in Frankfurt, Germany would have been considered blogosphere doom & gloom and fear mongering just a couple of years ago:

The U.S. debt situation is at a “tipping point,” Dallas Federal Reserve Bank President Richard Fisher said on Tuesday, and urged the U.S. central bank to refrain from any further stimulus measures.
“If we continue down on the path on which the fiscal authorities put us, we will become insolvent. The question is when,” Fisher said in a speech at the University of Frankfurt.
Fisher, seen by economists as one of the most hawkish policymakers within the Fed, said that although debt-cutting measures would be painful, he expected the U.S. to take the necessary actions.
“The short-term negotiations are very important. I look at this as a tipping point.”
He said the U.S. economy was now growing under its own steam, but voiced his concerns about building global inflation pressures and said it was now time for the central bank to stop pumping out extra support.
“The Fed has done enough, if not too much, and we should do no more.. In my opinion no further accommodation is necessary after June either by tapering off the bottom of treasuries or by adding another tranche of purchases outright.”
…
“The real question is when do we stop accommodation.”
“We need to continue to discuss the exit policy… but before you can tighten you have to stop accommodating,” he said.
Read More: http://www.shtfplan.com/headline-news/dallas-fed-president-warns-us-debt-situation-at-tipping-point_03222011

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Comment: We're not at but beyond the tipping point. The news has been out for decades. Few wanted to listen. Those who knew, knew, but could not get their message across because people in high places wanted it the other way and the sheeples followed. An intellectual corruption of immense proportions has taken place. The science that was supposed to hold up the light of enlightenment, economics, was taken over by a group of bandits who, so it seems, had only one thing on the mind: to bring us back into the age of darkness not knowing that the abyss they were to create would take them down along the way as well. These economists sold their soul to the state in exchange for fame, power and money. Did they really not know that their true deal was with the devil himself? Are you kiddin' me?