By Walter BrandimarteNEW YORK (Reuters) – A default would have severe reverberations in global markets, a top Federal Reserve official said just hours after Fitch Ratings warned it could slash credit ratings if the government misses bond payments.
St. Louis Federal Reserve Bank President James Bullard told Reuters on Wednesday "the U.S. fiscal situation, if not handled correctly, could turn into a global macro shock."
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Comment: We live in the age of infantilization. When baby government doesn't get her candy, she begins to cry out loud and louder and louder. And all the blame is put on the adult, who must bear all the guilt because those with reason and experience are nowadays called heartless misers and outright brutal for not caring for the sweet baby's deep need for more and more candies.
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