Friday, November 5, 2010

Rosenberg: Bernanke is Bearish, That's Why He Did QE2; No Doubt U.S. Wants USD To Drop

Howard Green interviewed David Rosenberg today on BNN. Rosenberg says Bernanke is on his camp: he is bearish, that's why he did QE:

 "His view is my view"
  • Odds so new recession are around 75%
  • Jobs reports are misleading. US lost 300,000 jobs. Full-time jobs down for the5th time in  a row.
  • The 5 million Americans  on extended benefits, the '99' crowd will lose its unemployment benefits in December, will make for a very bad Q1 in 2011.
  • He says there is no doubt we are in a depression, just like in the 30s, ups and downs.
  • 42M in food stamps
  • 1 in 7 Americans with mortgage in foreclosure or in arrears
  • there is no doubt the US wants a lower Dollar

Watch Headline for today Friday Novo 5.

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