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Wednesday, April 02, 2008

Bernanke:  A ‘Recession’ is Possible

WASHINGTON — For the first time, Federal Reserve Chairman Ben Bernanke acknowledged the U.S. could reel into recession from the powerful punches of housing, credit and financial crises. Yet, he was coy about the Fed’s next move.

With home foreclosures swelling to record highs and job losses mounting, Bernanke on Wednesday offered Congress an unflinching _ and more pessimistic _ assessment of potential damage to the national economy.

“A recession is possible,” said Bernanke, who is under immense political and public pressure to turn things around. “Our estimates are that we’re slightly growing at the moment, but we think that there’s a chance that for the first half as a whole there might be a slight contraction.”

Comments

Obviously Ben no longer believes it is “contained”


“We have a dollar that’s adjusting and I am for a strong dollar.....
Our dollar doesn’t buy as many barrels of oil as it used to and so therefore it’s more expensive for the American people”..... Bush 3/12/08

Mark D on April 2, 2008 at 03:07 pm

Bernanke is obviously a lefty stooge and can be safely ignored. /sarcasm


"The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced if the nation doesn’t want to go bankrupt. People must again learn to work, instead of living on public assistance.”
Cicero, 55 BC

MikeAdamson on April 2, 2008 at 04:04 pm

Mike,

It’s also possible that both woof and “Blackwater"boob will pull forth their heads from their fourth point of contact…


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destroyed.”

Rodney Graves on April 2, 2008 at 04:24 pm

Nice cherry-pick, Master Baiter!  Here’s more of what he said:

He agreed that a U.S. recession is “possible.”

But he wouldn’t concede the economy is in retreat, pointing out that a recession is a technical designation based on data that won’t be known for quite a while. “So I’m not yet ready to say whether or not the U.S. economy will face such a situation,” he said.

He also said the he expected the economy to resume growing more rapidly in the second half of the year.

Lefties like Master Baiter lie; it’s all they have.


Media uncovers more Palin stories in one weekend than Obama stories in two years. Still no bias detected

Obama: more experienced than Bristol Palin

robert108 on April 2, 2008 at 07:12 pm
Proof
Proof
11197 comments
Send a private message

Master baiting liberal nutters crack me up!



For any voter trying to choose between the two candidates for commander in chief, there is no better test than this: When American strategy in a critical theater was up for grabs, John McCain proposed a highly unpopular and risky path, which he accurately predicted could lead to success. Barack Obama proposed a popular and politically safe route that would have led to an unnecessary and debilitating American defeat at the hands of al Qaeda.

Frederick W. Kagan

Proof on April 2, 2008 at 07:57 pm
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