Posted on 08/12/2009 7:08:59 AM PDT by frogjerk
Economists are nearly unanimous that Ben Bernanke should be reappointed to another term as Federal Reserve chairman, and they said there is a 71% chance that President Barack Obama will ask him to stay on, according to a survey.
Meanwhile, the majority of the economists The Wall Street Journal surveyed during the past few days said the recession that began in December 2007 is now over. Battling the downturn defined most of Mr. Bernanke's term, which began in early 2006 and expires in January, and economists say his handling of the crisis has earned him four more years as Fed chief.
"He deserves a lot of credit for stabilizing the financial markets," said Joseph Carson of AllianceBernstein. "Confidence in recovery would be damaged if he was not reappointed."
(Excerpt) Read more at online.wsj.com ...
I hope it is over.
Let’s see, unemployment rate is only eight times Bush’s worst. Let’s par-tay!
Economists seem to hate Larry Summers.
This is going to get interesting as I doubt O cares what anyone thinks. He’s the expert on everything.
Don’t worry, its time to “buy buy buy” (snicker), even though the P/E on the S&P 500 has never been this high. In fact, its more than double its all-time high print, which incidentally happened as the 00/01 train wreck began.
from market ticker this morning!
How can they know it’s over when they’re unanimously wrong on when it began?
Economists are correct about their predictions of the economy about as well as weathermen are correct in their predictions of the weather.
Almost everyone laughs at the economists and pans the story.
Almost everyone laughs at the economists and pans the story.
Nobody fires up the money presses quite like Ben. They need him to stay. The dollar is still worth more than toilet paper.
” Economists Call for Bernanke to Stay, “
Of course they would want the Big Banks to keep their ‘perfect stooge’ in charge...
Ya never know - he might get replaced by somebody that’s competent....
(Hey - it *could* happen...)
If I were Bernanke I’d say the recession was over and run for the hills before the whole thing blows up in a few months.
They're kidding, right? How do you calculate the chances that someone will ask someone else to stay on the job? I would like to see the formula for that one. How about this: 71% of those interviewed opined that Barack Obama will ask Bernake to stay on. Geez.
As the car teeters on the edge of the cliff, yes Ben please stay in the car. You’re driving has been impeccable to this point.
Get rid of Bernanke (although another Obama henchman will also get it wrong, doncha know?)
We should not believe BO had anything to do with this.
"The government is auctioning $75 billion in debt this week as part of its efforts to reduce the deficit and fuel its recovery efforts."
Can anybody explain to someone who didn't get beyond Ec101 in college how the US Gov borrows $75 billion to retire $75 billion reduces the deficit? Maybe the interest rate is a bit less (maybe), but the bulk of it is the principle, and the US still owes it. And, how in the world does this fuel recovery efforts?
you never know BO may actually be able to appoint someone worse - a tough job i know but if anyone can do it maybe just maybe BO can
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