That is according to Dallas Federal Reserve President Richard Fisher just a few days ago.
He also says that the US needs to break up the banks so that they’re no longer ‘Too Big To Fail’, and he accuses the government of mishandling America’s finances.
And, to emphasize his point, he showed a video that I showcased in my post Congratulations, You Owe $683,000.
Maybe he reads my stuff?
Okay, probably not.
But, it really is the funniest bit of humor about the US debt I have ever seen. But, don’t take my word for it. Watch it for yourself (below).
If it wasn’t so funny, you’d scream.
Dallas Federal Reserve president Richard Fisher believes the nation’s finances are being severely mishandled by the U.S. government and the banking industry.
“We know this will happen again,” Fisher said during an interview with PBS FRONTLINE, “the question is will the taxpayer be held hostage, once more, if we have such concentration within so few hands?”
But perhaps Fisher felt he was being ambiguous. This would explain why the Dallas Fed president doubled down on his criticism of the U.S. government and banking industry‘s handling of the nation’s finances during an address he delivered at Oklahoma University Tuesday afternoon.
“In my view we cannot continue to do what we’ve been doing. If we monetize the debt, if we bail out those that have accumulated debt with inflation by debasing dollar, we will have failed in our duty,” he said.
And to illustrate his point, he showed this well-made, hilarious video from debtlimitusa.