Federal Reserve Prepares for the Worst

This short article speaks for itself.

Notice the use of the word "spiral" by Fed Chairman Bernanke.


The US Federal Reserve is preparing for the possibility that Congress will not fall into line with the president on raising the government’s borrowing limit.

All parties will have to agree by August 2nd to ensure the US does not go into default.

Fed chairman Ben Bernanke has already said a lack of agreement will send the world’s financial markets into a spiral.

The Fed now has to decide on whether it will keep signing cheques for people in the public service.

Republicans in Congress have decided to call the White House on the deal, which would include tax increases and the expiry of Bush-era tax cuts for the wealthy.


See it here;  http://story.arabherald.com/index.php/ct/9/cid/3a8a80d6f705f8cc/id/814744/cs/1/ht/US%20Federal%20Reserve%20prepares%20for%20the%20worse/

I guess we can assume he means a downward spiral...as opposed to an upward spiral?