Wednesday, May 27, 2009

China warns America about 'printing money'

May 27, 2009

WHO IS JOHN GALT? TAX COLLECTIONS PLUMMET.
 
Meanwhile, China warns Federal Reserve over ‘printing money’. “China has warned a top member of the US Federal Reserve that it is increasingly disturbed by the Fed’s direct purchase of US Treasury bonds.” So am I. Plus, over $99 Trillion in unfunded pension and health-care liability, “built up by a careless political class over the years.” 
 
 
Now, it's not that the US government is ever going to have to come up with $99 trillion at once.
 
Everybody would have to retire and get seriously sick at the same time.
 
But yes, that is 99 trillion dollars worth of unfunded pension and health-care liabilities.
 
And like all liabilities, it's a burden on the over all budget.
 

Posted via email from Garth's posterous

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