Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Bernanke: Recession 'Very Likely Over'
Fox News ^ | 09/15/2009 | Foxnews

Posted on 09/15/2009 8:36:11 AM PDT by fiscon1

Federal Reserve Chairman Ben Bernanke says the worst recession since the 1930s is probably over.

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy
KEYWORDS: bernanke; economy; fed
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-63 next last
To: snarkytart

Don’t Cash for Clunkers figure into there? What will they do next month?


41 posted on 09/15/2009 9:07:32 AM PDT by ignorancerunsrampant (Where is the Court of Common Sense?)
[ Post Reply | Private Reply | To 14 | View Replies]

To: avacado
Analysts predict the economy is growing in the current quarter, which ends Sept. 30, at an annual rate of 3 to 4 percent. It contracted at a 1 percent pace in the second quarter.

Meanwhile, Stiglitz says things are worse.

42 posted on 09/15/2009 9:08:04 AM PDT by firebrand
[ Post Reply | Private Reply | To 2 | View Replies]

To: trad_anglican

what were sales from a year ago down 5%. Wow we are on fire.


43 posted on 09/15/2009 9:09:35 AM PDT by scooby321 (and)
[ Post Reply | Private Reply | To 40 | View Replies]

To: firebrand

Thanks for the link!


44 posted on 09/15/2009 9:10:37 AM PDT by avacado
[ Post Reply | Private Reply | To 42 | View Replies]

To: Right Brother
Corporate profits are up because they are cutting cost by laying people off. That will not work next quarter. At some point revenue will need to grow.

Mean while insider selling is at an all-time high. What does a corporate exec do when he thinks his company is doing better? Sell his stock?

45 posted on 09/15/2009 9:10:37 AM PDT by ignorancerunsrampant (Where is the Court of Common Sense?)
[ Post Reply | Private Reply | To 35 | View Replies]

To: fiscon1

As if anything this Professional Liar says can be trusted.

Hey Ben, “Subprime is contained. The housing slump will not affect the real economy.”

What a hack. Still playing a confidence game and still lying through his teeth.


46 posted on 09/15/2009 9:12:30 AM PDT by Freedom_Is_Not_Free (Depression Countdown: 50... 49... 48...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: trad_anglican

obama got elected on the basis that he would fix this economy and provide millions of jobs. So far, he’s taken our money and not delivered. There are ‘09 college grads waiting tables and blue collars in middle America who voted for him for that reason alone. He needs to put up or shut up.


47 posted on 09/15/2009 9:14:57 AM PDT by jersey117
[ Post Reply | Private Reply | To 40 | View Replies]

To: scooby321
what were sales from a year ago down 5%. Wow we are on fire.

I said in my post that I didn't think the recession was over, so if you're making that point, then we agree. And thank you for supporting your point with a relevant metric.

48 posted on 09/15/2009 9:19:42 AM PDT by trad_anglican
[ Post Reply | Private Reply | To 43 | View Replies]

To: fiscon1

Bernanke - Very likely a moron!


49 posted on 09/15/2009 9:20:24 AM PDT by WayneS (Respect the 2nd Amendment; Repeal the 16th)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jersey117
obama got elected on the basis that he would fix this economy and provide millions of jobs.

And anyone who believed him was a fool.

50 posted on 09/15/2009 9:20:58 AM PDT by trad_anglican
[ Post Reply | Private Reply | To 47 | View Replies]

To: RobRoy

Why limit ourselves?

I choose door 2 AND door 1!


51 posted on 09/15/2009 9:21:24 AM PDT by WayneS (Respect the 2nd Amendment; Repeal the 16th)
[ Post Reply | Private Reply | To 7 | View Replies]

To: fiscon1

BS...don’t we need 2 quarters of sustained growth


52 posted on 09/15/2009 9:21:31 AM PDT by wardaddy (Bro and his czars...we have tar, feathers and rails waiting...and a road outta town..)
[ Post Reply | Private Reply | To 1 | View Replies]

To: fiscon1

Balony! It hasn’t even got started good yet.

Wait until the connerical real estate market goes south.

Wait until the piper is paid for all the paper obama had printed aa his disciples so gleefully cheered him on.

Wait until the sheep get their 2010 tax notices.

It won’t be near as funny as it was on election night in 2008.


53 posted on 09/15/2009 9:24:52 AM PDT by sport
[ Post Reply | Private Reply | To 1 | View Replies]

To: avacado

There can still be a recession while GDP is positive, too. The NBER doesn’t look only at GDP, and in fact they place much more emphasis on two monthly indicators:

1. Personal income LESS transfer payments (ie, government aid as personal income isn’t a “non-recession” indication...

2. Employment.

This is the reason why the NBER declared the recession to start in Dec 2007 — you could see since August of 2007 that personal income started dropping off rather markedly, and unemployment started kicking up. The first wave of the debt panic in September 2007 kicked up unemployment another notch.

Unemployment is still going up; personal income was up only slightly in July. If this was the end of the recession (per NBER methodology), we won’t hear anything out of the NBER much before January or February 2010.


54 posted on 09/15/2009 9:26:06 AM PDT by NVDave
[ Post Reply | Private Reply | To 2 | View Replies]

To: fiscon1

A flashback from 2007 and Mr. Bernanke’s use of the word “likely:”

“All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.”

Source:

http://www.federalreserve.gov/newsevents/speech/bernanke20070517a.htm

This sort of thing is why economists will never be taken seriously as either professionals or scientists.


55 posted on 09/15/2009 9:28:12 AM PDT by NVDave
[ Post Reply | Private Reply | To 1 | View Replies]

To: fiscon1
Technically correct but it's a meaningless statement. It's an "L" shaped recession.

The chances are that it's stopped falling. Residential real estate might even bottom by next year. But if employers have stopped firing, the chances that they're going to start hiring before someone they have confidence in occupies the White House are zero.

Even if/when business picks up, I'll work 20 extra hours each week before I hire someone to do the same amount of work in 40.

Cbamabots should expect to move back into mom and dad's basement after graduation. Expect high unemployment and high crime rates to persist well beyond 2012, or whenever the adults are back in charge.

56 posted on 09/15/2009 9:33:18 AM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoKoolAidforMe

I heard Bernacke’s audio announcement and his voice didn’t sound too confident to me. He’s not as good as Greenspan in verbal assesments of the economy—not giving either exuberance nor dismal prognosis in tone.


57 posted on 09/15/2009 9:39:36 AM PDT by tflabo (Truth or Tyranny)
[ Post Reply | Private Reply | To 25 | View Replies]

To: fiscon1

“Bernanke: Recession ‘Very Likely Over’”

That’s because our country is “very likely over”. Thanks to the Red hacks in the White House, Congress and Supreme Court.


58 posted on 09/15/2009 9:41:28 AM PDT by WKUHilltopper
[ Post Reply | Private Reply | To 1 | View Replies]

To: fiscon1
The Fed boss also said he is confident that Congress will enact a revamp of the nation's financial rule book to prevent a future crisis from happening.

Uh, no. 0bama wants to increase the amount of subprime loans made. Thus, re-inflate the bubble and it will pop again.
59 posted on 09/15/2009 9:51:45 AM PDT by BJClinton (Any "healthcare reform" without tort reform is a fraud.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: fiscon1

When Bush was president and unemployment was less than 6% we had liberals lying and saying it was “the worst economy since the Great Depression”.

When the zero was elected and employment keeps going up and the economy is shrinking, we have liberals lying and saying that not only is the economy turning around, by goodness the recession is OVER!

Does anyone besides me see a disconnect from reality?


60 posted on 09/15/2009 9:54:53 AM PDT by Blood of Tyrants (Capitalism is the unequal distribution of wealth. Socialism is the equal distribution of misery.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-63 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson