Economy should grow again later in 2009

[Benny B]

Buh-bye GOP. 

Bernanke: Economy should grow again later in 2009
By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Tuesday that the economy should pull out of a recession and start growing again later this year.

But in prepared testimony to Congress' Joint Economic Committee, Bernanke warned that even after a recovery gets under way, economic activity is likely to be subpar. That means businesses will stay cautious about hiring, driving up the nation's unemployment rate and causing "further sizable job losses" in the coming months, he said.

The recession, which started in December 2007, already has snatched a net total 5.1 million jobs.

The unemployment rate "could remain high for a time, even after economic growth resumes," Bernanke said.

Even with all the cautionary notes, the Fed chief offered a far less dour assessment of the economy.

"We continue to expect economic activity to bottom out, then to turn up later this year," he told lawmakers.

Recent data suggest the recession may be loosening its firm grip on the country, Bernanke said.

"The pace of contraction may be slowing," he said. It was similar to an observation the Fed made last week in deciding not to take any additional steps to shore up the economy.

The housing market, which has been in a slump for three years, has shown some signs of bottoming, he said. Consumer spending, which collapsed in the second half of last year, came back to life in the first quarter.

In the months ahead, consumer spending should be lifted by tax cuts contained in President Barack Obama's larger $787 billion stimulus package. Still, rising unemployment, sinking home values and cracked nest eggs will still weigh on consumers willingness to spend freely, Bernanke said.

Business investment also remains "extremely weak," and conditions in the commercial real estate market are "poor," he said.

Still, Bernanke said he was hopeful that production would pick up later this year to replenish stockpiles of goods that have been slashed. And there's been tentative signs that the declines in other countries' economic activity may be moderating, which could help sales of U.S. exports. They have been falling sharply, a key factor behind the drag on U.S. manufacturing, he said.

On the financial front, Bernanke said there have been signs of improvements in easing some credit stresses. However, financial markets remain under considerable strain.

Bernanke didn't provide details about how 19 large banks fared on "stress tests." Results, to be released Thursday, should shed light on which banks may need government support if the recession were to worsen.

He did say that after the results are released, banks will be required to develop "comprehensive capital plans for establishing the required buffers." They will have six months to execute those plans or get help from the government.

[BM OUT]

Jesus,Id hope so.We pumped in a trillion dollars into it.Wasnt that the point?

[Benny B]

Jesus,Id hope so.We pumped in a trillion dollars into it.Wasnt that the point?

So even one of getbig's resident dittoheads agree that the stimulus plan was an obvious and logical move.   

[Bindare_Dundat]

hahaha

Bernanke changes his mind as often as the weather. Rain, economy won't recover untill 2010. Sunny, economy will recover this summer.
Or how about when they finally informed us we were in a reccession? It only took about 8 months into it before they admitted it.

[BM OUT]

So even one of getbig's resident dittoheads agree that the stimulus plan was an obvious and logical move.   

No,I think it was stupid as hell.It will raise deficits out of site.We would have gotten out of the recession without it.However,if you pump in globs of money it will spur the economy.If you cut taxes it would have done it better and faster.

[pillowtalk]

As 'Ricard Bandler' has aid on numerous occasions "when you are relying on politicians & economists (& in mean, come on - the 'FED') for your hope, it's time to bail out while you can"

[SAMSON123]

hahaha

Bernanke changes his mind as often as the weather. Rain, economy won't recover untill 2010. Sunny, economy will recover this summer.
Or how about when they finally informed us we were in a reccession? It only took about 8 months into it before they admitted it.

Now you are in a DEPRESSION and they still have not told you. America's days are OVER...Don't stay up waiting for the GREAT TURN AROUND TO HAPPEN AS THEY CLAIM..hahahah...You'll have INSOMINA waiting...

[War-Horse]

Now you are in a DEPRESSION and they still have not told you. America's days are OVER...Don't stay up waiting for the GREAT TURN AROUND TO HAPPEN AS THEY CLAIM..hahahah...You'll have INSOMINA waiting...

You dont even live here.  No ones in soup lines here.   Once again, your jumping the ball.     I think our way of life will reset to realistic means.....but not civil wars and crap.    Your a little over the top samson

[MM2K]

If we had cut taxes, it would have recovered better and faster AND the government would have gotten the revenue back. It wont get it back with this crap PORKULUS legeslation. And Bernanke said the econcomy would not grow very fast at all even after growth occurs. Growth should occur fast. The best thing that could happen is that for about 12-18 months, things are going to feel very good relative to what we have been going through, then we will have massive inflation. That is the best case scenario. Dont you guys get it? These things have be tried before. They have been shown not to work.

[Soul Crusher]

If we had cut taxes, it would have recovered better and faster AND the government would have gotten the revenue back. It wont get it back with this crap PORKULUS legeslation. And Bernanke said the econcomy would not grow very fast at all even after growth occurs. Growth should occur fast. The best thing that could happen is that for about 12-18 months, things are going to feel very good relative to what we have been going through, then we will have massive inflation. That is the best case scenario. Dont you guys get it? These things have be tried before. They have been shown not to work.

I have helped do my part by keeping the Gun Stores and Ammo suppliers afloat. 

[SAMSON123]

You dont even live here.  No ones in soup lines here.   Once again, your jumping the ball.     I think our way of life will reset to realistic means.....but not civil wars and crap.    Your a little over the top samson

You are not aware of the soup lines in america??? Or the tent cities? or the families being put out of their homes and onto the street?? WTF?? Where do you live in america???

There was once a joke that says...I DON'T NEED TO SEE ALL OF THE SAND TO KNOW I AM AT THE BEACH"...well guess what you need to see ALL of the sand!!!!

America WILL NOT RISE AGAIN LIKE A PHOENIX....that is just the reality

[Bindare_Dundat]

April 8 2009


WASHINGTON (AFP) – The Federal Reserve no longer sees signs of recovery this year from a prolonged recession and only weak growth in 2010, minutes of a policy-setting meeting said.

Despite massive interventions by the Fed and other government bodies to jumpstart the moribund economy and unblock tight credit, policymakers at a March meeting viewed grimmer projections than those made two months earlier.


5-5-09
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy should start growing again later this year, his most optimistic assessment of the country's financial health since the recession struck with force last year.

 

[Soul Crusher]

They have no clue what the heck they are doing.

My personal belief is that they are trying to manipulate people in to believing there is a recovery so they go out and spend money that they otherwise would or should not be spending to keep the ponzi scheme going.

[Bindare_Dundat]

They have no clue what the heck they are doing.

My personal belief is that they are trying to manipulate people in to believing there is a recovery so they go out and spend money that they otherwise would or should not be spending to keep the ponzi scheme going.

You mean you don't believe things have drastically changed in a month?

[tonymctones]

April 8 2009


WASHINGTON (AFP) – The Federal Reserve no longer sees signs of recovery this year from a prolonged recession and only weak growth in 2010, minutes of a policy-setting meeting said.

Despite massive interventions by the Fed and other government bodies to jumpstart the moribund economy and unblock tight credit, policymakers at a March meeting viewed grimmer projections than those made two months earlier.


5-5-09
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke told Congress Tuesday the economy should start growing again later this year, his most optimistic assessment of the country's financial health since the recession struck with force last year.

 

hahahahah post of the day 10 points for you

[Bindare_Dundat]

hahahahah post of the day 10 points for you

Thanks.

It's so painfully obvious these guys have shit for brains. It doesnt take much to see through the lies.

ALL the economic indicators, GDP, PPI, Unemployment, were just recently revised DOWN... for the all of 2009.

Just like BO's pullout from Iraq on 2010, December 31st, and only combat troops... all mirrors, deceit, lies, propaganda, and falsehoods. In the private sector it's called, FRAUD

[Soul Crusher]

You mean you don't believe things have drastically changed in a month?

Yes, they have, for the worse. 

[MM2K]

You mean you don't believe things have drastically changed in a month?

It seems that the market has finally stabilized after falling 50%, but its not like it was going to go to zero. And it had already looked like it was stabilizing back in the beginning of January before the election. I believe on Jan. 3 it broke 9000 for the first time since the fall panic. Then after the election it went down 23%. I was disappointed that Oreilly gave Obama a B on the economy just because the market stabilized.

[Soul Crusher]

It seems that the market has finally stabilized after falling 50%, but its not like it was going to go to zero. And it had already looked like it was stabilizing back in the beginning of January before the election. I believe on Jan. 3 it broke 9000 for the first time since the fall panic. Then after the election it went down 23%. I was disappointed that Oreilly gave Obama a B on the economy just because the market stabilized.

Read Neurotoxin thread.  He has been spot on so far.  Says we are about to go back to the March lows.

[grab an umbrella]

According to Bernanke?  Seriously benny, do you think about the sources of the stuff you quote?

Buh-bye GOP. 

Bernanke: Economy should grow again later in 2009
By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Tuesday that the economy should pull out of a recession and start growing again later this year.

But in prepared testimony to Congress' Joint Economic Committee, Bernanke warned that even after a recovery gets under way, economic activity is likely to be subpar. That means businesses will stay cautious about hiring, driving up the nation's unemployment rate and causing "further sizable job losses" in the coming months, he said.

The recession, which started in December 2007, already has snatched a net total 5.1 million jobs.

The unemployment rate "could remain high for a time, even after economic growth resumes," Bernanke said.

Even with all the cautionary notes, the Fed chief offered a far less dour assessment of the economy.

"We continue to expect economic activity to bottom out, then to turn up later this year," he told lawmakers.

Recent data suggest the recession may be loosening its firm grip on the country, Bernanke said.

"The pace of contraction may be slowing," he said. It was similar to an observation the Fed made last week in deciding not to take any additional steps to shore up the economy.

The housing market, which has been in a slump for three years, has shown some signs of bottoming, he said. Consumer spending, which collapsed in the second half of last year, came back to life in the first quarter.

In the months ahead, consumer spending should be lifted by tax cuts contained in President Barack Obama's larger $787 billion stimulus package. Still, rising unemployment, sinking home values and cracked nest eggs will still weigh on consumers willingness to spend freely, Bernanke said.

Business investment also remains "extremely weak," and conditions in the commercial real estate market are "poor," he said.

Still, Bernanke said he was hopeful that production would pick up later this year to replenish stockpiles of goods that have been slashed. And there's been tentative signs that the declines in other countries' economic activity may be moderating, which could help sales of U.S. exports. They have been falling sharply, a key factor behind the drag on U.S. manufacturing, he said.

On the financial front, Bernanke said there have been signs of improvements in easing some credit stresses. However, financial markets remain under considerable strain.

Bernanke didn't provide details about how 19 large banks fared on "stress tests." Results, to be released Thursday, should shed light on which banks may need government support if the recession were to worsen.

He did say that after the results are released, banks will be required to develop "comprehensive capital plans for establishing the required buffers." They will have six months to execute those plans or get help from the government.

[Bindare_Dundat]

"Anyone who thinks that consumers will return to carefree shopping by September, you have to wonder what they're smoking," said Paco Underhill, an expert on consumer psychology and CEO of retail-focused consulting form Envirosell.

[Soul Crusher]

"Anyone who thinks that consumers will return to carefree shopping by September, you have to wonder what they're smoking," said Paco Underhill, an expert on consumer psychology and CEO of retail-focused consulting form Envirosell.

Paco Underhill is a genius.   I read a book by him years ago about the psychology of stores and shopping.  amazing work.

[Soul Crusher]

Buh-bye GOP. 

Bernanke: Economy should grow again later in 2009
By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – Federal Reserve Chairman Ben Bernanke told Congress Tuesday that the economy should pull out of a recession and start growing again later this year.

But in prepared testimony to Congress' Joint Economic Committee, Bernanke warned that even after a recovery gets under way, economic activity is likely to be subpar. That means businesses will stay cautious about hiring, driving up the nation's unemployment rate and causing "further sizable job losses" in the coming months, he said.

The recession, which started in December 2007, already has snatched a net total 5.1 million jobs.

The unemployment rate "could remain high for a time, even after economic growth resumes," Bernanke said.

Even with all the cautionary notes, the Fed chief offered a far less dour assessment of the economy.

"We continue to expect economic activity to bottom out, then to turn up later this year," he told lawmakers.

Recent data suggest the recession may be loosening its firm grip on the country, Bernanke said.

"The pace of contraction may be slowing," he said. It was similar to an observation the Fed made last week in deciding not to take any additional steps to shore up the economy.

The housing market, which has been in a slump for three years, has shown some signs of bottoming, he said. Consumer spending, which collapsed in the second half of last year, came back to life in the first quarter.

In the months ahead, consumer spending should be lifted by tax cuts contained in President Barack Obama's larger $787 billion stimulus package. Still, rising unemployment, sinking home values and cracked nest eggs will still weigh on consumers willingness to spend freely, Bernanke said.

Business investment also remains "extremely weak," and conditions in the commercial real estate market are "poor," he said.

Still, Bernanke said he was hopeful that production would pick up later this year to replenish stockpiles of goods that have been slashed. And there's been tentative signs that the declines in other countries' economic activity may be moderating, which could help sales of U.S. exports. They have been falling sharply, a key factor behind the drag on U.S. manufacturing, he said.

On the financial front, Bernanke said there have been signs of improvements in easing some credit stresses. However, financial markets remain under considerable strain.

Bernanke didn't provide details about how 19 large banks fared on "stress tests." Results, to be released Thursday, should shed light on which banks may need government support if the recession were to worsen.

He did say that after the results are released, banks will be required to develop "comprehensive capital plans for establishing the required buffers." They will have six months to execute those plans or get help from the government.

FAIL

[Soul Crusher]

Bump. 

[dario73]

HAHAHAHAH!! Oh, man. Bernanke is a joke. Where is he anyway? He needs to explain why the recovery is taking so long.