"Mein fuhrer ..."
"Mein fuhrer, the recovery is even weaker than we thought."
Posted on 08/30/2011 9:01:38 AM PDT by Nachum
(CNSNews.com) - Speaking in Jackson Hole, Wyo., yesterday at an economic symposium sponsored by the Federal Reserve Bank of Kansas City, Federal Reserve Chairman Ben Bernanke said that the economic recovery in the United States had proved to be “even weaker” than the Federal Open Market Committee had originally thought it was.
Bernanke also reiterated that the committee had recently lowered its expectations for economic growth in the coming quarters.
“[I]t is clear that the recovery from the crisis has been much less robust than we had hoped,” Bernanke said. “From the latest comprehensive revisions to the national accounts as well as the most recent estimates of growth in the first half of this year, we have learned that the recession was even deeper and the recovery even weaker than we had thought; indeed, aggregate output in the United States still has not returned to the level that it attained before the crisis. Importantly, economic growth has for the most part been at rates insufficient to achieve sustained reductions in unemployment, which has recently been fluctuating a bit above 9 percent.”
(Excerpt) Read more at cnsnews.com ...
Unexpected!
Recovery? What recovery?
Its not weaker then we the people suspected it would be.
These people are out of touch with reality. They have NO CLUE what is going on with regular peoples lives in America
The bunch of incompetents who have no concept of cause and effect when it comes to economic policy?
Drink!
What is the name for a luxury conference room full of clueless people?
Let’s see, they’re duds, and they’re huddling.
So, it must be a duddle.
"Mein fuhrer ..."
"Mein fuhrer, the recovery is even weaker than we thought."
As I recall from my college economics courses, fiscal and monetary policies must be coordinated to be successful. For the past 3 years the Fed has been flooding the system with cash to avoid a depression. Since prices are rising, I’d say ‘Mission Accomplished’. There is no liquidity problem in the economy (which also makes expatriating overseas corporate cash another soon-to-be failed policy idea). The problem is that the anti-business fiscal policy coming from Uhbummer (which has solely been used to redistribute wealth to unions) is failing to create certainty for businesses and consumers. But still we get folks like the head of the Chicago Fed saying this morning that we need a QE3. When will they finally get it?
So exactly how many times can Ben and friends be “wrong” in the same direction until he is charged with deliberately misleading the public.
All due to a lack of bipartisanship feelings from the teaparty terrorists!
If oil stays above $65.00 we will not have a recovery for many ,many years.
“We”? Does he have a mouse in his pocket?
Dang, he has been believing his own lies.
This is like the Captain of the Titanic saying, “I didn’t think that iceberg was really that big. Yeah maybe issuing tea cups to bail water wasn’t really helpful. but I’m really a great Captain”
LOL, I had missed that one, nice.
The budget games in Washington did not play well around the world and these guys get mean when you mess with their green
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