Posted on 03/20/2012 6:19:36 PM PDT by John W
Weakness in the eurozone is beginning to have an impact on the U.S. economy, according to Federal Reserve Chairman Ben Bernanke, who will warn legislators Wednesday of possible "contagion."
“The difficulties in the euro area have affected the U.S. economy," Bernanke says, according to prepared text of his remarks. "The European Union accounts for roughly one-fifth of U.S. exports of goods and services. Not surprisingly, U.S. exports to Europe over the past two years have underperformed our exports to the rest of the world. In addition, weaker demand from Europe has slowed growth in other economies, which has also lowered foreign demand for our products.”
(Excerpt) Read more at economywatch.msnbc.msn.com ...
Just need a couple two or three more trillion dollar bailouts and stimulus packages. Governments are here to pump, er, prime the pump.
Ben has a method in that he is propping up the Euro with the US dollar. Currency swaps or whatever. It is obvious. So it is going to effect us in more ways than import/export.
Hey Ben, what happened to the “robust recovery?”
Sorry, I can’t help myself [snicker!].
he must be referring to socialism
Guess blaming Bush is getting ineffective, now it’s Europe’s fault.
It’s always somebody else’s fault.
We're in a "recovery".....the same way alcoholics like Ted Kennedy are[were] in "recovery." No matter how bad things are, or how much of a booze-besotten drunk you are, you're in "recovery."
And then, your internal organs fail. All the outsiders can't imagine why, because you've been in "recovery" for xx years. But, those close to you know all about your "recovery."
Betty Ford Bernake is about to learn us a thing or two in trickle up poverty. Those 12 steps are about to become an escalator to the bottom. It don't matter what what step you're on.....it's going down regardless.
The Obama / Bernacki bubble of massive borrowing is going to explode into inflation and tax increases that even their greatest supporters will not be able to explain away as someone else’s fault.
The best cover up they will be able to offer is that Bush spent a lot of money as well.
Laid side by each Bush and Obama, Bush is a piker. In the history of civilization no one has squandered the future and treasury of their Country as has Obama.
Rush hoped He would fail, But He has succeeded. Contempt for Him, is kind !
You don’t catch excessive debt.. you do it deliberately.
Hey Ben, I’ve noticed that all the financial problems are caused by corrupt politicians and central banks. I say we get rid of them both.
Very well put.
Let's hope he doesn't have a majority of the board with him.
Thanks John W.
Not surprising since Bennie keeps sending them our dollars to essentially waste in propping up the voracious little commie rats.
Every dollar he creates out of thin air to perpetuate the myth that they can continue paying off the socialist hordes comes straight out of our (yours and mine and every American's) savings, income, investments, etc.
Of course it's effecting us and it's planned to do so by scum like Bernanke and the worse scum pulling his strings!
The sooner they're allowed to fail, the sooner they can begin to recover and the more likely we all don't have to go down the rat hole.
The global economic system is an idealistic fantancy. It is walking, talking nightmare for the world. The unaccountable elitists, citizens of the world, are the only one who benefit from it. But their day is coming. And they know it.
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