Posted on 11/10/2009 11:32:54 AM PST by Stayfree
Although the actual title of today's WSJ article, "Fed Officials See No Need to Raise Rates Soon", neither of the two Federal Reserve Presidents interviewed said anything but the usual Fedzilla dribble, one comment did stand out. Janet Yellen, head of the San Francisco Fed, said "the current consensus among Fed officials was that unemployment would likely remain high for several years". Which says that in effect there will be no recovery for several years!!!!
May be if they have another stimulus and raise taxes higher they can keep it high, or even higher for the next decade or so.
They want to keep unemployment high! It helps them sell their deathcare.
We will be just like Europe.
The “lost decade” started around November 2008.
All this is adding up to a serious Depression.
“Unemployment would likely remain high for several years per Fed”
Obama “The Muslim Marxists” wet dream.
Prick!
Those of us who were paying attention knew that this is the inevitable result of the government sucking up more and more of the economy, but the electorate elected a communist anyway, and gave him socialist majorities in congress. In the coming years, they'll all learn the hard way what we knew all along. Alas, I expect they'll just shrug their shoulders, accept this new reality, and go on living their lives -- less free and much more dependent than they used to be. And -- unless at least some of them get mad enough about the "new reality" to turn their masters out of office -- there is likely not a lot we can do to change back to life as it used to be.
This means the government is admitting it can’t create jobs, but if the private sector does, the ‘bama will be quick to take credit for it.
I don't think I've ever heard such a forecast before. Pretty incredible to forecast high unemployment for several years. Years ago US citizens would have considered that unacceptable and would have demanded a different direction. Not sure what will happen now.
It only stays a depression if the people buy the bs like they did with fdr and keep electing these idiots. This thing could be over tomorrow if they would do the right things. Like resign.
“Years ago US citizens would have considered that unacceptable and would have demanded a different direction. Not sure what will happen now.”
Now they are just telling themselves that it is just going to take time to get over the damage by the Bush years. I have heard them say this.
This thing could be over tomorrow if they would do the right things. Like resign.
_____________________________
LOL
My questions center around what we are going to do with the unemployed. It is not fiscally sustainable to continue to extend benefits. At some point, the government has got to stop providing money. But without a means to maintain a roof and food the problem amplifies to theft, killing and death. So, for several years ... if families are suffering and sacrificing due to the economy, members of congress and zero’s administration should be required to do WITHOUT taxpayer compensation and at the same time be required to get their healthcare in the same manner these people are required to do so or go to jail. Any way you look at this, it is not a pretty picture.
‘there is likely not a lot we can do to change back to life as it used to be’
You can never go back.
These are the consequences of ‘tyranny of the majority’.
I for one will not go quietly.
I will continue to preach upon the reccurent Greek them of the role of the individual in society. Civilizations fail when made to become a collective society. History is littered with them.
The individual is not meant to serve as a slave unto the collective. This country was built on individual liberty and economic freedom. We lost that way back when. We are witnessing the death spiral of the welfare state. The sooner it happens, the sooner we get back to what makes America great!
Curious why you didnt put link in the normal URL box. wsj.com is allowed excerpted and linked. Did you want to change the title for any reason?
Well, America, the party is over! No more fun of any kind!
Good night to the damn disaster Obama!
It will take 20 years to undo the mess he is creating! I hope America can survive Obama!
Of course they are saying this. With new health insurance taxes and cap and trade looming of course there will be little recovery. If you are the FED, you must factor in the possibility of one or both passing in your forecast. Perhaps neither will and the economy will rebound, but they both certainly have a greater than zero chance of passage.
We learned that in the ‘30s.
What morons we have for leaders.
They can’t hear, they refuse to read, and wouldn’t know an assault rifle if they were holding one!
..........................and that’s the good news !
And if Bush were President with 10% unemployment, the press would be running headlines night and day about all the “suffering”.
The sheep who read the financial news believe the government reports of improving economy etc. hook line and sinker. I don’t because the total number of unemployed, total number of forclosures, etc. are the real pulse of our economy. The original headline is just more of the same old propaganda put out by butt-face Bernanke & Tax Cheat Geithner constantly trying to convince the American public that everything is improving. I thought that most readers on FR would be more interested in what the Fed really thinks...instead of the usual B.S.
The title was “Fed Officials See No Need to Raise Rates Soon”. Confirms what Peter Schiff said this week. Expect gold to run higher that 5K$ per ounce.
Unemployment was 4.5% in November 2006, when Americans demanded a different direction and gave the Democrats control of Congress. We got a different direction alright.
That was for entirely different reasons. Things have changed a lot since even a year ago.
I don't want Americans to lose their jobs, but I've had it with the UAW, and I won't apologize to any UAW workers who lose their jobs as a result of my next purchase.
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