Bernanke: Recession could end this year

Bernanke: Recession could end this year

articles.moneycentral.msn.com

"If actions taken by the administration, the Congress, and the Federal Reserve are successful in restoring some measure of financial stability -- and only if that is the case, in my view--there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery," Bernanke said in prepared testimony. The Fed chief is testifying today before the Senate Banking Committee.

But Bernanke was cautious: "This outlook for economic activity is subject to considerable uncertainty, and I believe that, overall, the downside risks probably outweigh those on the upside."

(visit the link for the full news article)

"If...some...only if...in my view...a reasonable prospect"

Who are they trying to kid? There are too many protectionist qualifiers in this statement to be anything remotely optimistic. This is obvious spin for them to buy more time as they continue to loot the middle class investor and prepare to take us to Martial Law.

Here is his honest assessment: "...I believe that, overall, the downside risks probably outweigh those on the upside."

They knew damn well that these bailouts would tank the Stock Market and thrust the world into the Greatest Depression in order to usher in the NWO one world government takeover.

God Speed!



articles.moneycentral.msn.com
(visit the link for the full news article)

Anyone watching Helicopter Ben talking to congress?

When asked if Banks were parking money in Treasurys...he did just like before and side stepped it...this is all pointless...apparently congress has no Idea who their dealing with and every tough question they ask gets the run around and they just blow it off...5 minute rule...right...no real answers to anything...double talk...hold another windbag meeting and waste more time...we really need to call the bankers bluff!!!


you hear that??? The Fed has no Congressional mandate to help with States bonds troubles...The Fed has no congression mandate to exist at all!!!!


[edit on 2/24/2009 by Hx3_1963]

reply to post by TheDarkNight


haha that's all i can do with that statement, is just laugh at it ... what number's has he been looking at? 2010 a year of recovery ... right....

[edit on 24-2-2009 by baseball101]

After much work with the Enigma machine and some astrological alignments, I have singlehandedly decrypted Bernanke's statement.

" I, Bernanke, being completely unqualified and out of my depth on this and many other matters, haven't a clue as to what will happen next. The President forces me to make speeches like this.
My goal is to get through this unfortunate appointment and return to my greedy, insider-trading, Ponzi-scheming pals on Wall Street so I may partake of their largesse. "It's never enough, we always need more."

Sounds like propganda. Things may get somewhat better for a little, then Bernenke and others like him wil tell the public everythings ok, we did it! go back too yuor normal lives...then......bam! come august, as some seem to think, things will spiral down, form all the excessive money printed and the bubbles the government has created to sustain the dollar, will show its nature and flaws.
Just another speech given so americans dont know whats going on behind closed doors, so thiers no civil unrest.

www.leap2020.eu...!-4th-quarter-2009-Beginning-of-Phase-5-of-the-global-systemic-crisis-phase-of-global-geopolitical_a2805. html

no, it wont be over anytime soon

Back in February 2006, LEAP/E2020 estimated that the global systemic crisis would unfold in 4 main structural phases: trigger, acceleration, impact and decanting phases. This process enabled us to properly anticipate events until now. However our team has now come to the conclusion that, due to the global leaders’ incapacity to fully realise the scope of the ongoing crisis (made obvious by their determination to cure the consequences rather than the causes of this crisis), the global systemic crisis will enter a fifth phase in the fourth quarter of 2009, a phase of global geopolitical dislocation.

According to LEAP/E2020, this new stage of the crisis will be shaped by two major processes happening in two parallel sequences:

A. Two major processes:
1. Disappearance of the financial base (Dollar & Debt) all over the world
2. Fragmentation of the interests of the global system’s big players and blocks

B. Two parallel sequences:
1. Quick disintegration of the current international system altogether
2. Strategic dislocation of big global players.


[edit on 24-2-2009 by zyrktec]

reply to post by ziggy1706


Star for you!

I beleive things will get better for a few months because of all the money being pumped into the system. Very soon after is when things are going to really get bad. The roll of toilet paper will be worth more than the dollar.

reply to post by zyrktec


More importantly, you are saying that mankind is about to take a few steps backwards..or even worse.

I think he is probably correct. This is the last year it will be called a recession. Next year, we will call it a depression.

A loooooota "IFs" in there!


IF pigs fly out of his arse....the country might be in recovery in 2010.


See I can do it too!

I don't think ANYBODY believes a word that comes out of "bailout Bernie's" mouth anymore. This guy has proven himself time and again to be a liar and special-interests whore to the Nth degree. He has zero credibility. With the housing market pretty much obliterated, the unemployment sky-rocketing, businesses, retail-chains, and now even FRANCHISES on the chopping block, this "recession" is not going anywhere for years, PARTICULARLY with the continued "bailouts" this guy and his co-horts keep raping the populace with. They say one thing, while ensuring the exact opposite is guaranteed.

Prey tell why is the market going up after hearing all that dribble?

Anyone with half a brain could hear Ben was using a circular argument...he can't shut down a bank that has enough capitol to operate...but he's providing the capitol it keep it that way?!?!?

We have retards running Congress if they can't see that...

reply to post by Karlhungis


I agree, he have to put a nice face in view of the wasted money that he already had done during the cash infusions and bail out.

Is not way that he is going to claim failure publicly, and beside I understood that he while been hopeful by no means said that is over.

even my magic eightball says...out look not so good

this guy musta got paid big time to write that

Those are a lot of big ifs when you are dealing with Moe, Larry, and Curly to get their act together.

I place my bet on no recovery.

With scores of trillions still 'lost' in derivatives, and the Fed pumping out dollars as if it were peppermint patties, we are not likely to see anything remotely resembling a 'recovery'.

However, perhaps the recovery BB is referring to is one for the Banksters and the transnational corporation who have had to 'moderate' their commercial exploitation of the planetary population until the economic toilet water stops splashing about.

I've resigned myself to the notion that we have become trapped by the Fed and her pimps. Eventually, someone will have to stand up to them.

Forget politicians; they don't serve that purpose.

Oh yeah..., by the way, does anyone ask "Where is the money?" anymore? Or are they afraid the answer - "What money?; there never was any money." should be best kept quietly in the halls of power.

[edit on 24-2-2009 by Maxmars]

one guage for recovery will be credit card rates...

lets compare the rates before & after the gov't announcement of 'recession is over'



here's the current price of plastic:

Credit Card Rates click to compare
Avg. APR
Balance Transfer 10.90%
Instant Approval 11.29%
Reward 11.83%
Low Interest 12.11%
Bad Credit 12.15%
Airline 12.18%
Cash Back 12.39%
Student 15.94%

Updated: 2009-02-24
Source: CreditCards.com

thanks folks,

It is obvious that this is an effort to keep the stock market from tanking. Didn't he say something to the effect that he would do whatever it takes to keep the economy from going to pieces? I guess that includes telling whoppers.

Looks like some people are believers:

finance.yahoo.com...

Bernanke: Recession may end in '09; Stocks climb Stocks rise as Bernanke tells Congress the difficult recession may end this year * Tim Paradis, AP Business Writer * Tuesday February 24, 2009, 2:39 pm EST

[edit on 2/24/2009 by sad_eyed_lady]

reply to post by Maxmars


At least one senator had the mind to question Bernanke about how putting more and more money into the banks is going to help differentiate between bad banks and those that are not.

Still no direct answer to that one.

You are right is like masking bad breath with mints, just it because the stench is mask it doesn't mean is not there.