Wednesday, April 7, 2010

Tell Me Something I Don't Know, Ben

Well, Big Ben is telling us the obvious, but to many sheeple it may be a surprise.

U.S. economy still faces significant headwinds

"We have yet to see evidence of a sustained recovery in the housing market," he said.
No kidding, you are right on this one.  What about the CRE (commercial real estate) market Ben, why not tell people we haven't seen that recovering either and it still is slipping down.

"Many Americans are still grappling with unemployment or foreclosure, or both," Bernanke said.
Yep, right again Ben. Underemployement at about 20%, I'd say they are still grappling. Maybe they are trying to hold on for dear life.

"...the Fed chairman saw no immediate reason to be worried about inflation..."
I would disagree here. Inflation is coming!

Bernanke said the Fed's ability to prevent future crises will hinge in part on the development of a resolution authority that would allow regulators to break up or wind down large financial institutions that run into trouble in an orderly fashion.
A regulation authority? Isn't that what we call the FDIC? Whether they are a large or small financial institution they should all follow the same rules.

It is funny though, Ben is saying one thing to the Dallas Chamber, but Tout TV/media is saying all is well and we are on an economic recovery. Go figure!

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