Bernanke, Others Offer No Easy Answers to Weak Economy - Barrons.com
"Federal Reserve Chairman Ben Bernanke presents the official line that the economy suffers ... from the uncertainty surrounding the fiscal cliff that lies ahead at the turn of the year,..."
Somehow, if I was a banker and had a couple as a client (read: in this case the US government and not a consumer family) was borrowing 42 cents of every dollar and using most of it for current consumption, I would think it worth paying attention to.
Perhaps the family just lost a job or had sudden and unexpected bills (something not apparent with the US entitlement spending, which has already gone off-the-charts). If not, then a banker would worry about the credit extended.
Somehow most people want to believe (like apparently Obama) that taxes on the rich will make everything right!
How many bankers really think strangers will bail out their over-spending consumers?
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