Debt Deal or No Debt Deal, Janet Yellen Heads the Fed, China and EU Cut Dollar Trade
- uploaded: Oct 12, 2013
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- Democrats and Republicans are talking about ending the government shutdown and raising the debt ceiling. I still feel like we are being forced to watch a sadistic game show where everybody ends up losing. In the end, I think everybody will lose because it is not the so-called debt ceiling that is the real problem, it is the enormous debt. It is $17 trillion and growing. Somebody that is going to have to face that problem is Janet Yellen, who was just nominated to take over at the Federal Reserve when Ben Bernanke leaves office. The media has sung her praises, but Ms. Yellen, I do not think, is going to be some sort of savior. China just arranged a currency swap with the European Union. That means the two biggest markets outside of America will not be settling trade with dollars. If you think this will not affect you, think again. Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.