Fed chief Bernanke: recession could end in 2009

Fed chief Bernanke: recession could end in 2009

news.yahoo.com

In carefully hedged remarks in a taped interview with CBS' "60 Minutes," Bernanke seemed to express a bit more optimism that this could be done.

Still, Bernanke stressed — as he did to Congress last month — that the prospects for the recession ending this year and a recovery taking root next year hinge on a difficult task: getting banks to lend more freely again and getting the financial markets to work more normally.

"We've seen some progress in the financial markets, absolutely," Bernanke said. "But until we get that stabilized and working normally, we're not going to see recovery.

(visit the link for the full news article)




Mod edit: Added the "2009" because the posting code truncated the original "'09" at the apostrophe. --Majic

[edit on 3/15/2009 by Majic]

Looks like the NWO telegraphed their punch in the '08' bailouts. And with Patriots such as Ron Paul, Dennis Kucinich, and Alex Jones turning up the heat The Fed seems like it wants to keep the status quo a little longer.

Look for a distraction in the form of a war very soon. Most likely between the U.S and Iran. Also, a Cold war like scenerio to get ratcheted up between the U.S, Russia, and China. After the new inflation bubble created by the Fed crashes in 5-10 years THEN we'll see another attempt at destroying the U.S economy.

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

Well technically Bernake can end this crisis whenever he wants to really. The Fed got us into this mess and it's their job to get us out, but we all know how that works.

~Keeper

Funny how Alex Jones pushes to release The Obama Deception, that refers to Bernanke, the Federal Reserve, Bilderberger, and numerous other topics. And almost immediately following, 60 minutes has Bernanke, and talks about how many believe the Federal Reserve took the American Recession and turned it into the Great Depression, and made it go worldwide. Then Google releases news that Bilderbeger is in the top of the charts.

How much other stuff from that video is going to be in the news soon?

Wasn't it lending, debt, that caused all this mess? This Bernanke guy sounds like an idiot. Debt is a suckers game. Knowing that you don't owe anybody anything is freedom and peace of mind! One good thing about this current economic situation is that a lot of people are trashing their credit now, and that means it will be quite a while before they will be able to act irresponsibly and live beyond their means on evil credit and debt again. That's a really good thing. It will be a long time before the dummy down the road that has $50k on his credit cards will be able to borrow another dime. A lot of people stuck their heads into the credit noose and now they are feeling the consequences of that. Hopefully they will have learned something this time. If anyone is pinning hopes of an economic recovery on people signing up to hang themselves again, I hope they aren't holding their breath. I'm laughing at my stupid neighbors that are drowning in debt. Idiots! And besides, this economic downturn is GREAT news for the ecology, the planet Earth, and our descendants, because consumption of the Earths natural resources is down, and that is something we all should be very happy about. I know I'm happy about it, ha. Consumptionism and debt is NOT the way to build a prosperous healthy society. If some monkey thinks happiness is buying needless crap like a huge home entertainment center on credit when they knew they couldn't afford it in the first place .. well, I hope they are very unhappy today, ha.

What good will it do even if it ends?

Many average Americans will still not be able to get credit due to poor credit or stricter lending practice.

The government is only concerned about getting the businesses back on their feet, not the average citizen who has been hit harder than the corporations and businesses.

Originally posted by Mekanic
Funny how Alex Jones pushes to release The Obama Deception, that refers to Bernanke, the Federal Reserve, Bilderberger, and numerous other topics. And almost immediately following, 60 minutes has Bernanke, and talks about how many believe the Federal Reserve took the American Recession and turned it into the Great Depression, and made it go worldwide. Then Google releases news that Bilderbeger is in the top of the charts.

How much other stuff from that video is going to be in the news soon?

repeating a post from elsewhere...,


I think all this will accomplish, (not that [Google] trends has an agenda - right?) it to alert the MSM that there are commercial opportunities on the subject to be exploited while simultaneously spurring more anti-conspiracy efforts on the part of the owners to ensure that all people learn that:


1. conspiracy theories are the product of unhealthy minds
2. its illogical to believe that omni-present influential elites among our policy-makers is cause for concern
3. it is impossible for a cluster of organizations to control governments
4. despite genealogically and historically recorded facts, there is no real continuity in the leadership's direction of international and national affairs
5. Much of the worlds 'ills' could not have been forseen, and their interleaving or overlapping is pure coincidence
6. The obscenely wealthy and powerful somehow deserve their influence by some unassailable virtue



Oh my..., I am certainly a paranoid mentality......

Originally posted by Divinorumus
This Bernanke guy sounds like an idiot.

Oh, but he's got a degree in Economics from MIT, he has to be a financial wizard, right?

reply to post by jam321


Actually, I think more people are going to have much worse credit after this is over. Having the bank foreclose on your home isn't exactly going to bump you up to an 850 credit score. A good portion of these folks already had low scores, and now they have banks reporting to the credit bureau that payments aren't being made.

And on top of that, people with good credit who have lost their well paying jobs, and are losing their homes, and losing their scores.

The recession might end, but there's going to be a much larger lower class. It's not the executives who are being laid off, and when they close their companies down, they still have money in their personal accounts to live off it until they can weasel into another large corporation.

I know way too many people who have lost their jobs. Companies have closed their doors, I don't care what this guy has to say, it's not going to end soon.

But, of course, the recession could never have ended without the government buying up the banks.

Just because these guys say that the recession is over, doesn't mean everything is business as usual, or that the dollar is suddenly going to rebound in value.

92% of us Americans are still paying our mortage and 93% of us are still working. Not as bad as they put on.

mikell

Originally posted by jam321
The government is only concerned about getting the businesses back on their feet, not the average citizen who has been hit harder than the corporations and businesses.

That's right. We've got them over a barrel folks. When the government comes out and says that corporate America is expecting and depending upon YOU ALL to start racking up even more debt, thus enslaving yourselves even more, you know this whole economy is a complete sham. Let it fall.

All that is important is your health, mental and physical, and not the junk they expect you all to keep buying on credit. Credit should be used for emergencies. Maybe all that money people toss down the drain on interest payments could be used to pay for health insurance and other necessities of life.

Stick it to DA MAN folks and live within your means. If they want you to spend, they'll have to pay you more instead. REJECT and REFUSE credit, it really is a foolish suckers game. It's a good feeling when you are not in debt to anyone else! Knowing you are debt free is a better feeling than writing checks for interest payments on crap that doesn't mean jack when you have no money in your pockets afterwards.

Tell Bernanke to go stuff it where the sun doesn't shine. Cut up your credit cards and free yourselves. Save yourselves instead of corporate America. All this makes me wonder how many people are NOW wishing they had a wad of cash in their pockets instead of a house full of fancy expensive junk that they can't eat or even sell for what it may be worth or what they owe on it. Credit is simply a form of enslavement that makes use of invisible whips and chains. Don't be suckered into playing that game. It's even better to have no money than to have no money AND be in debt.

Originally posted by mikellmikell
92% of us Americans are still paying our mortage and 93% of us are still working. Not as bad as they put on.

mikell

I take it you went out personally and polled every single American? If you have, you missed me.

I would NEVER trust the stats of a single poll they tell you, because they're numbers used to the advantage of those putting them forward.

Everything looks GREAT when put into numbered statistics whether it's true or not. Just something to ease the American Puppets (er, I mean people).

reply to post by Divinorumus


Credit is actually a good thing. Prior to the Church easing it's stance on "usury", economic growth was piss poor at best and wealth was concentrated at the top with the lower classes extremely restricted. With the advent of banking and credit being offered, civilisation took off.

Nearly all the major industrial and technological advances of the past 400 years have only been possible because people could obtain credit in order to develop and expand their ideas. Without credit, there would have been no colonies in north America, no Industrial revolution, no railways built in the West and no NASA space mission to the moon.

What your getting your knickers in a twist about is irresponsible spending/lending. Too much credit is bad and taking on debt which you cannot afford is stupid. lending to people who cannot afford it is also stupid. But to say that credit as a whole is bad is off the mark.

Originally posted by stumason
reply to post by Divinorumus

 

Credit is actually a good thing. Prior to the Church easing it's stance on "usury", economic growth was piss poor at best and wealth was concentrated at the top with the lower classes extremely restricted. With the advent of banking and credit being offered, civilisation took off.

Nearly all the major industrial and technological advances of the past 400 years have only been possible because people could obtain credit in order to develop and expand their ideas. Without credit, there would have been no colonies in north America, no Industrial revolution, no railways built in the West and no NASA space mission to the moon.

What your getting your knickers in a twist about is irresponsible spending/lending. Too much credit is bad and taking on debt which you cannot afford is stupid. lending to people who cannot afford it is also stupid. But to say that credit as a whole is bad is off the mark.

Actually what we're getting our collective panties in a wad about is private corporations controlling the printing and lending of our money. Private corporations (a la Federal Reserve) that aren't audited, aren't transparent and answer to no one except private individuals whose loyalties aren't to the American people. Private individuals who crash markets, and start wars to make a buck. Credit, is another totally separate matter.

lol what?



is he personally gonna hire 3 million people?????

The recession was manufactured and was foreseen by those who were in the know and were able to dump stocks weeks before in order not to be caught by it. Remember when someone stars quoting statistics that 84% of all statistics are made up. They took the power to create this they have to power to end this and tell the banks to do their jobs again. I am not a sucker of all these unemployment hype either. I see all kinds of job fairs, online help want ads all over the place. If you want to work you can. It is that we are making it easier for people sit around and collect a hand out.

reply to post by solomanskey


Indeed and I agree. The Governments allowing such unregulated money lending and debt trading has enabled such indivduals and corporations to get us in this mess, but that doesn't mean credit itself is bad.

I was merely addressing that single poster and his soap-box rant about credit being evil and to "live within your means", not the general topic at hand.

It is foolish to think that if we are to afford things as a new car or a house that we "just have to be paid more" as this isn't how economics works.

If we were paid more, things cost more, so it really makes no differance at the end of the day.

For example, if I got paid 10k more per year so that I could afford a car without having to get credit, my company would have to increase costs to it's customers to cover the extra expense, this would filter around the economy until everything else went up in price.

They guys maing the cars need a wage too and if they are "paid more" so they can avoid credit, then the car would cost more, negating any increase my employer gave me to get the car in the first place.

The only thing you will get out of a "pay people more" scenario to avoid credit would be rampant inflation.

[edit on 15/3/09 by stumason]

Originally posted by stumason
But to say that credit as a whole is bad is off the mark.

Nope, credit is a suckers game. In my book, personal credit should only be extended in cases of extreme personal emergencies. And, business credit is also not necessary, let those with faith in business proposals invest in those ideas. Credit is sticking your neck in a bankers noose. You want to beat the PTB at their own game, refuse to become their slave, refuse credit, refuse to be talked into going into debt to get that fancy home, that POS car, that junk to fill that house that the bank owns. So long as you are in debt, you are someone's slave! A prosperous economy that is spending beyond their means is not necessary for a good life, and neither is debt. SAVE and you won't need to beg for a loan and become enslaved to the banks that print up all that funny money. If you look at the people at the top, they aren't in debt, so don't believe that debt is necessary to prosper! Numbers written in red ink does not equate to being prosperous, quite the opposite. Wealth is not owing others a boat load of funny money. I'd rather have a hundred grand in the bank than to owe a hundred grand to someone.

reply to post by mikellmikell


Well that may be in your neck of the woods because in mine here in souther GA, our unemployment was raised in the last two month to 112%.