Bernanke Forecasts "No Double dip"

[thunderdownunder]

Well now - really - all 18 of our indicators are red and only 1 month ago only 10 were saying the steam had come out. Bernanke's absolutely right -You won't get a double dip because you never hit the inflection point because what was reported showing a bottom was modified figures massaged to please . What your going to get does not have a word to describe it. I'm an optimist but I see the reality. What is reality- well imagine 40 Million people lined up twice daily at a soup line but you don't see that because it has been sanitized via food stamps.
What your about to get is dante's inferno - a bonfire of the Vanities - but No actual word. Well do you think its avoidable or has the inevitable started to roll through the World. Will June 2011 will reveal the Annus horibilus??. Keep well my friends. Bens got your back and you should be real worried about that

http://wallstreetpit.com/31109-berna...-no-double-dip

Don't listen to the mouth look at the flash cards in the background - Then think for God sake.
But there is hope and a small laugh to be had still
http://www.youtube.com/watch?v=6_Lfr...layer_embedded

[c1ue]

Re: Bernanke Forecasts "No Double dip"

Other notable Bernanke predictions:

1) Subprime is contained

http://archive.newsmax.com/archives/...8/110709.shtml

"At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained," Bernanke said in prepared testimony to Congress' Joint Economic Committee.

2) Recession will end this year (2009)

http://www.independent.co.uk/news/business/news/bernanke-predicts-recession-could-end-this-year-1631380.html

"...Ben Bernanke, the chairman of the US Federal Reserve, held out the tentative hope yesterday that the severe recession in the United States might be brought to an end before the end of this year on condition that the correct steps are taken over the coming days and weeks to restore financial stability and to shore up teetering banks...."

3) Fannie, Freddie in no danger

http://www.cbsnews.com/stories/2008/07/16/business/main4265793.shtml?source=related_story

(AP) Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in "no danger of failing."

...

The two mortgage giants are "adequately capitalized," Bernanke said. However, "weakness of market confidence is having an effect" on the companies, making it difficult for them to raise capital.

4) US will avoid a recession (2008)

http://www.usatoday.com/money/economy/2008-02-14-bernanke_N.htm

"...WASHINGTON — Federal Reserve Chairman Ben Bernanke said Thursday that the USA will avoid a recession, but that the outlook has deteriorated. He suggested more interest rate cuts are likely...."

Seriously - why would anyone believe anything this moron says?

[phirang]

Re: Bernanke Forecasts "No Double dip"

If only it were so simple.

You guys realize Bernanke is a very smart guy dealing with a chaotic system with sundry moving parts, right?

For example, perhaps he's frustrated that banks aren't lending to good credit risks. He needs to push those banks to lend, right? If he raised the FFR, then those banks will need to shift both duration and allocation. How can Ben "bend" the market for risk? The problem with ZIRP is that banks have NO incentive to take risk, and it's getting old. Everyone wants the Fed to move first: no dice there, amigo.

Also, we have a massive financial reform bill moving through Congress. Please consider the political implications with respect to any analysis done. To overlook that bill would render any conclusion NULL AND VOID.

[Chomsky]

Re: Bernanke Forecasts "No Double dip"

If only it were so simple.

You guys realize Bernanke is a very smart guy dealing with a chaotic system with sundry moving parts, right?

For example, perhaps he's frustrated that banks aren't lending to good credit risks. He needs to push those banks to lend, right? If he raised the FFR, then those banks will need to shift both duration and allocation. How can Ben "bend" the market for risk? The problem with ZIRP is that banks have NO incentive to take risk, and it's getting old. Everyone wants the Fed to move first: no dice there, amigo.

Also, we have a massive financial reform bill moving through Congress. Please consider the political implications with respect to any analysis done. To overlook that bill would render any conclusion NULL AND VOID.

So... you are agreeing with Bernanke that there will be no double-dip recession?

[c1ue]

Re: Bernanke Forecasts "No Double dip"

You guys realize Bernanke is a very smart guy dealing with a chaotic system with sundry moving parts, right?

If perhaps you are referring to 'double dip or not', be clear.

But Bernanke has shown zero evidence of his supposed smarts, and plenty of evidence of his being a water carrier for the FIRE folks. Or are you saying the Fannie, subprime, and various other examples were all 'not predictable'?

Only 'not predictable' for morons.

[photoncounter]

Re: Bernanke Forecasts "No Double dip"

Here's some latest one's
Bernanke Puzzled by Gold Rally (who could have thought )


http://blogs.wsj.com/economics/2010/...by-gold-rally/

Bernanke Says Gold, Commodities Conflict on Inflation

http://www.businessweek.com/news/201...-update2-.html

[bart]

Re: Bernanke Forecasts "No Double dip"

An inconvenient truth:

[ViC78]

Re: Bernanke Forecasts "No Double dip"

Well, you have to remember that by definition, his role is to cheerlead the economy. He does not have the freedom to say "We are fcuked, boys. Buy gold and ammo". Due to his political role, he needs to put out such statements to engender confidence, especially amongst the proles.

That being said, his actions did not convey the impression that he got "it", as earlier as he should have, especially since EJ forecast the decline by looking at the data which the FED itself gathers and publishes. He waited until it was quite late in the game to press the accelerator. Also, he is a lackey for the FIRE interests judging from the way he went about things once he did get "it". He is not dumb, but he is corrupt for sure.

[Slimprofits]

Re: Bernanke Forecasts "No Double dip"

That's a great post c1ue.

What does the failure of anyone in the media to mention this record tell us about the media?

Subprime is contained

Can I get that on a t-shirt?
also a great name for a punk band