Do you know about - Paul Ryan: Results - not empty rhetoric - to avert next crisis
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Paul Ryan: Results - not empty rhetoric - to avert next crisis Video Clips. Duration : 4.15 Mins.We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Today Mortgage Rates . Opening Statement Ranking Member Paul Ryan (WI), House Budget Committee Full Committee Hearing with Federal Reserve Chairman Ben Bernanke June 9, 2010 -- Welcome to you, Chairman Bernanke. It's appropriate that you are coming before our committee today to talk about the state of the economy because the health of the US and global economy is increasingly intertwined with the budget and our fiscal issues we deal with here in this committee. Over the past few months, we've watched as the sovereign debt crisis in Europe has boiled up to threaten that Continent's economic recovery and even global financial stability in general. In some ways, we are seeing a replay of a similar dynamic which impaired global financial markets in 2008. The fear then was systemic exposure to bad mortgage-related assets, but the fear now is driven by exposure to sovereign credit and the possibility of a debt-induced economic slump. Ominously, interbank lending rates like LIBOR are on the rise and credit spreads have widened as investors have become much more risk averse. Volatility is up and the stock market is down. What we are watching in real time is the rough justice of the marketplace and the severe economic turmoil that can be inflicted on profligate countries mired in debt. At the moment, the US is at the periphery of the European debt crisis and has even reaped some short term benefits, like lower long-term interest rates as a result of the renewed global flight to safety. But Americans are ...
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