Guess it didn't work?
Posted on 06/07/2011 1:58:20 PM PDT by JohnRLott
Federal Reserve chairman Ben Bernanke couldn't deny the obvious in his speech Tuesday in Atlanta. The economy is bad, with Obama’s “recovery” is setting records for being anemic and the unemployment stuck above 9 percent. Almost 5 million Americans have completely given up looking for work and left the labor force since the "recovery" that started in June 2009.
GDP growth the seven quarters into the Obama recovery has averaged an annual rate of only 2.8 percent, a fraction of the 4.6 percent average growth during recoveries since 1970.
And this recovery would have been even worse if the Federal Reserve hasn't been pumping in trillions of newly printed dollars into the economy, with the so-called "Quantitative Easings" 1 and 2. The current round of this injection, QE2, is scheduled to end on June 30th and will end up putting in almost $900 billion ($600 billion from buying government bonds and $280 billion from buying mortgages). But the Bernanke's announcement today of a new round of printing money is bad news. . . .
(Excerpt) Read more at foxnews.com ...
Wow. A member of the elite who is not willing to be a doormat for Obama. Of course, he’ll keep his place at the trough, you kidding?
What recovery?
>>What recovery?<<
The only “recovery” was in the MSM lapdog’s headlines. There wasn’t one. And that is after all the QE and free money stuff.
There will be a QE3. No matter what they do, things are either going to get worse, or MUCH worse.
Are you the author?
“Almost 5 million Americans have completely given up looking for work and left the labor force since the “recovery” that started in June 2009.”
If Osbama was a Republican the lamestream media would air an interview with one of these 5 million every broadcast.
“And this recovery would have been even worse if the Federal Reserve hasn’t been pumping in trillions of newly printed dollars into the economy, with the so-called “Quantitative Easings” 1 and 2.”
Of course! And if it wasn’t for QE2, we would also have hordes of elephants marching down our streets.
See any elephants? No! So thank Ben for the lack of wild and crazy elephants!
Yeah the “discouraged worker” along with the “homeless person” are invisible in the era of Baraq.
Excellent point - Exactly right, every nightly news program, every night of the week would feature how awful everything is. Interview after interview with hopeless, jobless Americans would be happening every night......"Broken Government", "Broken Dreams", "Broken Faith" stories would be constant up until Nov.
Yet today, it is constantly one remote positive story after another, or completely nothing on the economy night after night on the News programs.
OJerko has repeated over and over, this is a "blip" in the road.
What in hell is a blip?
50% say OJerko doesn't care.
I would really, really like to hear the answer to the following question: “Mr. Bernanke, can you me/us under which conditions you would freely admit that your policies had completely failed?”
That was a really, really snarky market turnaround EOD. Evil stuff. Watch it.
And when you factor in the real inflation rate of about 10 % (once you add energy and food back into the index) 2.8% abos-frickin-lutely sucks like a black hole.
Is that Lott’s writing after a Fox editor got to it? Ouch.
I think some people are getting the scent of blood in the water.
Now there is a good idea
Why doesnt Fox News interview an unemployed guy every day
BOTH PARTIES, CAN YOU HEAR IT NOW?
See your party's politician. Ask him if another election placebo would be right for you.
We're needing at least 15,000,000 jobs. Green jobs, tax cuts, and another small business pizza shop won't cut it. We have to make more of what we import.
Funny watching the Dow go from +39 to -19 in 20 minutes while he spoke.
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