This Situation Is Simply Unsustainable: US Debt Headed Toward 200 Percent of GDP! Your in Danger Because You Don’t Own Any Gold And The Fed’s Exit Will Be “Very, Very Messy”

investmentwatchblog.com / January 29th, 2013

IMF’s Lagarde Says U.S. Leading Economic Role at Stake

Christine Lagarde, managing director of the International Monetary Fund, said U.S. policy makers should create a long-term plan for handling the deficit or they will risk the nation’s position as the world’s economic leader.

Lagarde said that Washington officials have to “consider that the leading role played by the U.S. economy in the world is at stake,” speaking from Davos, Switzerland, in an interview broadcast today on CNBC television.

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“Confidence is something that is really fragile, can be eroded gradually, or broken down,” she said in the CNBC interview, explaining that the U.S. is now experiencing a slight decline in confidence that could have long-term effects. “Too much uncertainty or uncertainty for too long will erode confidence.”

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