Bernanke text

Just when you think he’s making progress:

>   (email exchange)
>   On Thu, Feb 3, 2011 at 1:41 PM, Cullen wrote:
>   After a glimpse of hope from some of Bernanke’s speeches late last year
>   he appears to have suffered some sort of memory loss as he is once again
>   talking about the dangers of the govt debt:


By definition, the unsustainable trajectories of deficits and debt that the CBO outlines cannot actually happen, because creditors would never be willing to lend to a government with debt, relative to national income, that is rising without limit.

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