Bernanke warns economic outlook 'uncertain'

Bernanke warns economic outlook 'uncertain'

rawstory.com

Federal Reserve chairman Ben Bernanke warned the outlook for the US economy was "unusually uncertain" Wednesday but said the central bank could step in to bolster a faltering recovery.

Bernanke told US lawmakers the world's largest economy would see only "moderate growth, a gradual decline in the unemployment rate, and subdued inflation over the next several years."

(visit the link for the full news article)

It is clear to me that we are certainly headed into what others call a "double-dip recession" but what I would consider to be the second depression.

Our economy just can't sustain itself if we move forward in the same direction that we have been going. How much longer is the world going to accept the dollar as the international reserve currency? When that goes, so will the perceived value of the American economy and because we have allowed our manufacturing base to escape us, we will have absolutely nothing to fall back on.

Unfortunately, there are far too many untapped natural resources for TPTB to allow our system to just crumble into chaos and that is why you see measures being taken to clamp down on the American when need be (notice "when", not "if").

--airspoon


rawstory.com
(visit the link for the full news article)

Oh his little smug butt makes me sick.

He knows EXACTLY how well HIS economic outlook is.

If he didn't, things might change for the better.

When the economy rides on every little word this man says, there is something wrong with that picture.
When a person sucks at their job they usually get fired.
Unless that is, they are doing what they do intentionally and everything is going according to plan.

"It's all part of the Plan"!

Sick to my stomach.

I was reading today about the income disparity in this country. It's kinda laughable how people are screaming "Socialism" and "Wealth Redistribution".
articles.latimes.com...

They say back in the 70's the richest among us made 25 times what the poorest did. Now they make 75 times what the poor do. Oh yeah, there is wealth redistribution going on-from the poor to the rich.

This is a dangerous thing for a country. You are talking about a huge gap between the haves and have not. It threatens the stability of the country. The middle class is disappearing. And who is going to do anything about that? The Tea Party/Republican Alliance? LOL! The Democrats? LOL!

No one can say what's in store, but I don't think it's a total collapse. I don't even think it will be a depression. I think a depression would be better than what we will get. We will just get stagnation.

Bernanke is one of the ones who conspired to do this to us in the first place.

I hope somebody shoots him in the head.

I guess the Fed Gov made Burn-a-key revise
their last week's statement from July 14.
Guess the last one was too harsh for
investment bankers on Wall Street
to make any money off stupid stock
holders which is why the markets keep
losing their gains on a weekly basis.

Fed: Full Economic Recovery Could Take 5-6 Years

www.knx1070.com...

reply to post by airspoon


Ok so… Bernie has just realized we are screwed?
I knew this years back, I insist I could have done better than this halfwit.
And he says the big banks can “Step in”
I suggest this would give people the time they need to plan their escape.
I hope we do not get “stepped in”, as it seems more like stepped on.

reply to post by boondock-saint


Apparently the fed cannot do math any better than bernie, our deficit is not something we can dig out of, especially with all of the current payments we dole out.

Is this the same dude who was preaching gloom and doom with no hope at the G8? Yeah, thanks, dude. We sorta already knew this. In fact you had quite the hand in it yourself. Take a pay cut, or better still resign, and then we'll talk. Maybe.