Fed sees NO sign of recovery this year

Fed sees NO sign of recovery this year

news.yahoo.com

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.

(visit the link for the full news article)

This is a disaster and bailouts were just an excuse for the behemoth in Washington to spend and waste more money.

The American people should know by know that these politicians speak out of both sides of their mouths.

They caused the crisis and now they want trillions to fix it.

Bush borrowed and spent us into oblivion and Obama is doing the same thing.

How are we going to pay for all of this spending in a global economy with cheap labor? We can't create enough jobs or the kind of jobs to sustain all of this spending.

I think Obama knows this and he's using the crisis to put in place a social agenda. He's just like Bush. Obama is guided by ideology and we needed a pragmatist.

This is why I supported Mitt Romney. We got all of these guys that never ran a lemonade stand playing with the wealth of the nation like it's monopoly money.

news.yahoo.com
(visit the link for the full news article)

[edit on 9-4-2009 by platosallegory]

Hmm...pretty reliable source given that they are the cause of this whole debacle in the first place.

Then again, I'm sure there will be plenty of disinfo by them to create convenient ebb and flow in the market for them to "capitalize" on.

Pun intented

What a surprise.
The Fed finally realizes they cant fix this in 6 months.
Took them long enough. You'd think they would have realized this when they had to give banks money to survive.

Not sure but it seems like they said this after the markets closed.

As to not cause a sell off I presume. Tomorrow it may sell off a few 100, or by then people will forget and buy. The market these days are just plain wacky!