Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and it would take time to create new jobs.
‘Even though from a technical perspective the recession is very likely over at this point, it’s still going to feel like a very weak economy for some time,’ Bernanke said after giving a speech at a Brookings Institution conference.
Keep that headline handy, Oliver.
Obama Depression Just Beginning!!
Dammit, Ferris !
Obviously excellent news for John McCain and his sidekick given the peanut gallery’s reaction
Don’t worry wingnuts. A Democrat will lead America out of a conservative-aided economic mess once again.
A story from Ambrose Evans-Pritchard?
Yeah, he never has a personal axe to grind:
Sorry, all. That’s in response to another bogus link from Farris.
Pretty obvious you don’t really believe that, O Dubya. I can’t blame you, he’s never done anything remotely resembling it in any way at all, unless you consider his time spent with ACORN. Which is why he continues to whine about the economy he inherited. It’s his fall-back. And yours.
To summarize, Farris’ doom-and-gloom economics story is written by a guy with a long, long history of making up unbelievable crap.
Prosperity is just around the corner. I’ll believe it when I see it. The Phil Gramm/Alan Greenspan years did a shitload of damage.
The subhead from the Evans-Pritchard article:
Both bank credit and the M3 money supply in the United States have been contracting at rates comparable to the onset of the Great Depression since early summer,
Small problem. Where’d he get his M3 data? M3 money supply hasn’t been reported by the U.S. government since 2006.
I’m going to enjoy seeing the GOP get crushed again in 2010 and 2012. Good times.
Your points would be relevant if you were also criticizing Bernake’s transparent attempt to cover his own a##. That your not speaks volumes.
We’ve certainly turned another corner!!!
If I were Farris I’d try to muddy the waters at this point by posting a link to the Weather Channel and labelling it “Scientists prove Obama 1/8 Martian”
If I were Dennis I’d try to sidetrack the conversation by pointing out how Obama’s poll numbers are cratering. Except he can’t really do that, can he?
President Obama’s approval rating, for example, went up five points, to 58%, the highest it’s been in a CNN poll since June.
Asked about approval of the president’s work on specific issues, 54% approve of his handling of the economy (up five points since August); 58% approve of his handling of foreign affairs (up four points since August); 51% approve of his handling of health care policy (up seven points since August)…
Moreover, a 61% majority believe Republicans are “being obstructionist for mostly political reasons” in the reform debate, and 85% found Joe Wilson’s outburst “inappropriate.”
Looks like we’re not quite so disappointed in hopey changey as our wingnut friends would like us to be. The American people are sometimes slow to catch on, but they catch on eventually. All you birthers, deathpanelers, teabaggers, all you right wing “patriots” whose love of their country is surpassed only by their irrational hatred of her president, enjoy your jig while you can, because it’s close to being up.
You’re basing this on a CNN poll? Good luck to you, sir!
Tell you what, SF, lets split the difference between CNN and Rasmussen. What I said still goes.
You know I think I know what he meant. The recession is over and the depression is about to begin. Yeah. That’s it. People are out of work, defaulting on car loans, credit card debt, and mortgages. Banks are gasping. Yeah. The recession is over.
Doesn’t matter, I think the point of all this, is this is Obama’s economy, if the Porkulus turns out to work success if it doesn’t failure. Simple politics.
Hear hear for the democrats, wondering how fast it will all be over. Most important is consumer trust, or us spending money rather than saving money.
Wow, Farris. That’s cheesy.
The poll Wilbur is talking about is a survey of 1,000+ Americans selected at random. CNN has been doing these for years and their methodology is typical of such polls.
The poll you link to (via NRO’s criticism of it) was a poll of people who watched the President’s speech! In the story reporting the poll results, this fact was mentioned in the first paragraph.
What did you expect them to do, poll Republicans who didn’t watch the speech for balance?
What did you expect them to do, poll Republicans who didn’t watch the speech for balance?
Umm…… yes?
While technically true, actually going out and saying this to normal people will probably get you curb stomped.
“if the Porkulus turns out to work success if it doesn’t failure”
Not to mention the simple facts involved in the history of US Recessions. Even the Great Depression had an expiration date, and while the Bush Recession was a doozy, it’s pretty much over. The recovery will be a slow one, but things are going to be back on track come late 2012/early 2011.
The fact that the GOP, following in the footsteps of chairman Limbaugh, was willing to double down on the US economy never recovering says a lot about their intelligence and their patriotism.
And that liberal house organ the WSJ said the stimulus package created and/or saved jobs.
Umm, that should be late 2010/early 2011. Need coffee.
But don’t take my word for it, just check in with the CBO. There numbers are usually pretty good.
Has it occurred to any of you leftie economist wannabe’s that if the “Bush Recession” is over, then it couldn’t possibly have been as devastating as you and the Obamassiah pretended it was 2008? Nor could be repaired in a little over 8 months?
In the words of the avoirdupois – challenged philosopher, Aretha Franklin: “Who’s zoomin’ who?”
It was a 2-year recession, the worst since the Great Depression.
The GOP owns it, the Dems have fixed it.
Go take a nap, Frank.
That’s just plain untrue, and you don’t even know it…
Wake up, Jaim — your posts just might improve.
Put the bottle down Frank.
The ever classy Jaim tells a recovering alcoholic to put the bottle down.
I haven’t had a drink since you’ve had sex – 23 years.
A**hole.
I find that hard to believe. Your posts smell like you’ve fallen off the wagon, hard.