posted on Aug, 6 2008 @ 05:30 PM
TOPIC: The Economic Outlook - Who to Believe
Originally posted by Benevolent Heretic
First, there's the Bush Economy Speech on Tuesday in which Bush spoke of how there's an "upside" to this recession.
As you might guess, Bush and Bernanke don't exactly see things the same way.
i believe both sides...
but in the short term & long term prospects will both diverge from the intended prognosis.
Bush is actually referring to the stability & 'trust' of the market system, in that the crap-shoot is dutifully administrated by a slew of
safeguards so the buying & selling of stocks, bonds, futures is a faithful and trustworthy mechanism of Trade.
Bernanke, is solid certain that the capitalist system will endure, where the central bank system and the processes of funding debt and creating credit
will remain viable... he does not mention that the Federal Reserve has already parceled out over 3/4 of a Trillion $$ to the banksters and numberous
financial institutions which will eventually
have to be bought back from the Fed.
and that there is more than $5 Trillion of that same garbage paper the banksters created during the Housing Bubble, sitting in overseas
funds/financial houses/soverign-wealth-funds, etc.
I would add to one ATS Anomyous poster who cited a couple financial sites for commentary, these two links:
(The Four Tires of the Apocalypse)
(a lot of graphs showing consumer spending contracting. graphs showing a lot of banks ready to go under...etc etc.
which is not merely subjective speculation from a talking head on a bubblevision show [?cnbc/msnbc?])
both articles from 5 Aug '08