The MSM are letting out some real numbers today & Bernanke seems to be following the collapse script well. There's also a story about the pensions
being out 2 TRILLION... sounds like the financial nuke is dropping today as the closely held data is let out.
Right off CNN... Ben Bernanke has said today that
"Overall, the combination of the incoming data and recent financial developments suggests that the outlook for economic growth has worsened and that
the downside risks to growth have increased," he said.
"In light of these developments, the Federal Reserve will need to consider whether the current stance of policy remains appropriate," he added.
Another story there is a commentary about the real debt...
The nation's real tab, on the other hand, amounted to $53 trillion as of the end of the last fiscal year. That was the sum of our public debt;
accrued civilian and military retirement benefits; unfunded, promised Social Security and Medicare benefits; and other financial obligations -- all
according to the government's most recent financial statement of September 30, 2007.
The rescue package and other bailout efforts for Fannie Mae, Freddie Mac, AIG and the auto industry, escalating operating deficits, compounding
interest and other factors are likely to boost the tab to $56 trillion or more by the end of this calendar year.
www.breitbart.com...
WASHINGTON (AP) - The top congressional budget analyst says pension plans have lost as much as $2 trillion in the past 15 months.
Peter Orszag told a House panel on Tuesday that the losses are likely to force many workers to hold off on major purchases and delay their
retirements.
[edit on 7-10-2008 by Atlantican]