Britannia Radio

USA is Already Bankrupt

The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed (It was meant to) 'Paul Krugman wrote a couple of weeks ago that top officials in the Obama administration and at the Federal Reserve have convinced themselves that troubled assets, often referred to these days as "toxic waste," are really worth much more than anyone is actually willing to pay for them - and that if these assets were properly priced, all our troubles would go away. The truth is that the Bernanke-Geithner plan - the plan the administration keeps floating, in slightly different versions - isn't going to fly ....' Read more...

Friday, 20 March 2009 Obama Climate Plan Costs Two Trillion Dollars 'President Obama's climate plan could cost industry close to 2 trillion USD, nearly three times the White House's initial estimate of the so-called "cap-and-trade" legislation, according to Senate staffers who were briefed by the White House. It's a big number that will accomplish nothing since, according to IPCC formulas, it would cost about 100 trillion USD to avert 1 degree Celsius of global warming through reducing CO2 emissions.' Read more...