Wednesday, July 21, 2010

Bernanke Speaks: Billions Lost In a Flash

Bernanke Speaks..

Did he say anything that anybody did not know? Not here....
"The unemployment rate in the United States will likely to remain well above 7 percent through the end of 2012, and the duration of the current Presidential term,"

  • "it would take “a significant amount of time to restore the 8.5 million jobs lost in the United States in 2008 and 2009",
  • “the economic outlook remains unusually uncertain.”
  • " financial conditions, particularly the European sovereign debt crisis, had become less supportive of economic growth in recent months.”
  • "the economic expansion is proceeding at a moderate pace,” but with substantial help from “stimulative monetary and fiscal policies,” in the form of "easy credit from the Fed and substantial federal spending".
Hello QE II. Got gold?

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