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?