Read the article (click) The Madness of Ben Bernanke
The G7 Meeting
The dollar is in a tailspin, the trade deficit is growing and a recession is on the horizon. The American way of life is in serious danger. But the head of the Federal Reserve keeps on pumping easy credit into the system — a crazy policy that will worsen the crisis. So begins today’s article in Der Spiegel.
Categories: Fed · credit crunch · deflation · federal reserve
This follows the recent revelation that the German bund was given a higher credit rating than US Treasuries for the first time in history. Now, another warning that taking Fannie Mae and Freddie Mac loans onto the balance sheet of the US government will affect the United States’ credit rating. Obviously, this is not good news if it occurs. (more…)
Categories: Fannie Mae · Freddie Mac · GSEs · Treasuries · United States · credit rating
