Skip to comments.Bernanke: despite recovery, many struggling
Posted on 08/06/2012 12:48:45 PM PDT by John W
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Monday that although broad measurements of the economy point to recovery, many people and businesses are facing tough times.
"Even though some key aggregate metrics -- including consumer spending, disposable income, household net worth, and debt service payments -- have moved in the direction of recovery, it is clear that many individuals and households continue to struggle with difficult economic and financial conditions," he said in prepared text.
Bernanke was speaking to a research conference on the topic of economic measurement. He did not discuss the outlook for monetary policy or refer to a report that the economy added a more-than-expected 163,000 jobs in July even as the jobless rate rose to 8.3 percent.
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” broad measurements of the economy point to recovery “
I guess it depends on which broad you’re measuring...
(Ducking for cover...)
Hey Ben! WHAT RECOVERY???????
” Looks like Ben has a little cognitive dissonance going on there. “
‘Dissonance’, certainly - but it’s arguable whether ‘cognitive’ is an adjective that applies to Helicopter Ben....
Could you imagine what the country would look like if they weren’t able to spend $1.40 in Baraqqi/Bernanke/Geithner minibucks for every $1.00 in revenue?
Right now Obama’s entitlement society is like the family in 2007 riding a wave of fake finance based on maxxed out credit cards and helocs on homes with negative equity.
Bernanke keeps using that word, “recovery”. I don’t think it means what he thinks it means.
> ...broad measurements of the economy point to recovery...
Obama’s failure may point to success someday, in other words.
It is one of those old hangover recoveries you wonder when it will start.
The 115 million households in the U.S. could each have received $7500 from the first stimulus bill, had the government simply sent a check in that amount. That would have been a great help to struggling families.
Instead, “stimulus” morphed into “porkulus”, as Obama sent tens of millions to his contributors, many of whom opened fraudulent “green” businesses that soon went bust. However, most of these fat cats are contributing thousands to Obama’s re-electon campaign.
Can you say “money laundering”? I knew you could. This insane spending was never about helping anyone but Obama’s cronies in the usual Chicago-style political payoffs.
So that means that we haven't been in recovery, as they've been saying for 3 years? We are just seeing some data now moving in that direction? So there hasn't been a recovery...duh. So what about the 3 years of lies, Bernanke?
What an eff'ing genius. The a$$hole finally figured out that people are having a rough time !! No wonder the economy is completely eff'ed up.
All of the people that Bernanke wants to do well are doing very very well. To hell with the rest of us.....
Only 5 million+ jobs lost......THAT recovery!
This must be the only recovery ever where businesses continued to shut down, wages continue to decrease, thousands more continue to loose jobs weakly and prices continue to rise. Wow how’s that for re-defining the word recovery.
But it goes to prove one fact: The left is full of blind, ignorant fools who lack the very basic skills of mathematics.
Bernanke , you stupid lying bastard, there has been no recovery, there hasn’t been one, we are not in one, and as long as Obama and his corrupt democrats are in power, there never will be.
Recovery? There was a recovery?
There ... fixed it!