Bernanke: Economy Back on Track After Lull

Chairman Ben Bernanke, delivering his first economic report to Congress, declared Wednesday that the economy has snapped smartly out of an end-of-year lull, although inflation and other risks remain. He left the door open to higher interest rates in the future.


Link

An aberrantly warm January leads to increased consumer spending (probably in home construction/remodeling) and Bernanke declares all is well?


Damn...we're fucked.

Gift certificates.

Most companies record the income when the certificates are redeemed, not when they're sold.

Feb. will be quite the disappointment.

but now it's acknowledged that there was, indeed, a (6 year and counting)'Lull', but now rest assured that all is well, even though nothing has changed, and in fact one of the major components propping up the market (real estate) is now, in fact, not so hot.

Gee, but all is well. Get out there and pay 3 bucks a gallon for gas and love it. :eyes: :crazy:

Who's economy is back on track??? Trade and Federal Deficits that only continue to get higher!!!!!! Endless wars that are not even counted on the books. Who are these incompetents kidding???

Gosh, I guess all offshoring/inshoring has stopped. No?

Then I guess all the jobs which fled this country have come back. No?

I guess the middle class has stopped slipping/falling into poverty. No?

Gas prices gone way down? Healthcare suddenly become affordable? No & no.

STFU, Bernanke, you fscking lying POS.

with job creation-re-creating your job in another country.

dismal economy up is the borrowed money flowing out of the housing sector. Now that money is dwindling. Outsourcing, while momentarily propping up stock prices will take a huge hit on the economy. We saw the crippling effects of huge deficits after the RayGun administration. The cost of oil which drives what is left of American manufacturing and is inflating year over year. China and India are poised to take our place as world leaders. As the FReepers say, "It's all Bush's fault!"

my finances are at their worst?

here in Michigan I think you'd be hard pressed to find too many people who say the economy is "back on track." Well, except for the wealthy. The middle class is getting further and further behind with their measly 2% or 3% raises which are supposed to cover the increase in home heating bills, gas for the vehicles, food, etc. etc. etc..

Do they think we're too stupid to realize this?

How can this asshole have a 40% approval rating? There's no effing way that 40% of the population is better off. I remember a couple of years ago overhearing a conversation between a repug acquaintance and her husband about their taxes. He was assuring her, "Next year...that's when we'll feel the relief."

Right.

after all this time. But, what is that in your sig picture? Looks like a bear pushing an giant (!) anteater who's wearing leg warmers.:)

giant anteater...

Interesting looking critters, no?

something like 2,500 folks in their home mortgage unit (housing industry - remember that one, the one thing that kept the economy humming for awhile) ?

as the business frauds started to undermine the economy. "Surely the people in charge will deal with this," I thought. "They have a plan to flush out the crooks and restore the foundations of our country. They know what they are doing."

Well, naive little me! They were gutting American corporations to pour cash into buying the entire political system for BushCo. Both the politicos, the corporations, and the religious wackos were in cahoots. They were going to hold all the levers of power, all the resources, and milk the American cow for all it was worth.

And suddenly, the American cow isn't worth anything. The American cash cow is dying. Could it be that all these power-grabbing, well-connected (thinking Mafia here), B school trained executives had NO IDEA what makes an economy or a country work???? Was Alan Greenspan a fraud? Were Harvard, Yale, Princeton and so forth selling snake oil and training crooks?

Will there be an America in 2008? THat's the biggest question on my mind now.

things will keep 'snapping smartly' along.

meanwhile, back on the farm...the factories are closed and we have nothing left to export except (some) military stuff and bombs...

Time to pull out those old books on how to get by on very little...Hello Great Depression II...new and improved for your "pleasure"

He is a brilliant, well respected economist. I can't stand the Bush administration but there is no doubt that Ben Bernanke isn't trying to mislead anybody.

They are just gonna keep claiming things are great,
right until the whole house of cards collapses.

It was starting to roar for a couple weeks there, but we're back to the lull. Too bad. It was fun there for a minute.

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http://finance.yahoo.com/q/bc?s=%5EDJI&t=5y&l=on&z=m&q=l&c=

Man, that Clinton recession was a doozy.


;)