Bernanke says U.S. economy close to faltering

[dmcowen674]

Really?

At what point do these Washington idiots figure it has faltered?

No jobs
Salaries of those with jobs going down
No housing movement
Gas still high
Prices of food going through the roof

I am down in Florida at the moment and they are super stuck. No one can move with Real Estate having everyone underwater. Over $6 for a gallon of milk, $3.50 for gas, no jobs whatsoever. It's very bleak down here.

They are all blaming Obama.


10-5-2011

http://news.yahoo.com/u-close-faltering-fed-ready-act-bernanke-065154564.html

U.S. "close to faltering," Fed ready to act: Bernanke


The Federal Reserve is prepared to take further steps to help an economy that is "close to faltering," Fed chairman Ben Bernanke said on Tuesday in his bleakest assessment yet of the fragile U.S. recovery.

"Recent indicators, including new claims for unemployment insurance and surveys of hiring plans, point to the likelihood of more sluggish job growth in the period ahead," he told the Joint Economic Committee of Congress.

INFLATION VS JOBS

Republican lawmakers pressed Bernanke on whether the Fed's dual mandate for full employment and price stability meant that it had to make compromises on inflation

 

[dmcowen674]

Like a bad infomercial But wait there's more:

10-5-2011

http://news.yahoo.com/plunging-pmis...RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_ylv=3

Plunging economic indicators fuel recession fears

We can't rule out the possibility of recession in the coming quarters.

The composite PMI -- combining the services and manufacturing data published earlier this week and a good guide for economic growth -- fell to 49.1 from 50.7 in August, its lowest level since July 2009 and down from a flash estimate of 49.2.

 

[PokerGuy]

They are all blaming Obama.

Well, at least they got that part right

It's a mess, and anyone who thinks DC is going to provide any answers is part of the problem.

 

[Fenixgoon]

dare i say i think gas is roughly where it should be. the price has been stable.

 

[Macamus Prime]

They are all blaming Obama.

Jobs are being shoveled out of the US by the truck load. If it can be created by hands, it is sent to China. If it can be created with a few keystrokes, it's sent to India.

The argument FOR outsourcing is that American workers are too expensive,... yet the price for what is being made is still the same. In fact, prices aren't going down, they are going up.

The business model for American corporations is squeeze costs and expand prices to maximize profit earnings. They are no longer cleaving excess wasteful spending - they are now snapping into bones. Or rather, they refuse to touch one fat bastard, yet they butcher someone who is nothing more than skin and bones.

How do you address that?

Do you honestly expect Americans to live off of $15K a year? Explain to me how this is even possible. Especially since prices have been increasing - all the while costs a constantly decreasing.

How much further sustainable can this approach possibly be??

So, if Obama attempts to curb such behavior; he is a communist socialist. You have racist inbred vomit screaming bloody murder every time Obama opens his mouth.

Clearly his terrorist killing streak doesn't mean much. I guess because not enough innocent Arabs were killed in the process? Dead innocent Arabs; something some of you have openly expressed joy over.

And, he can't do anything to stop American capitalist overlords from shoving all of the middle class and poor into a meat grinder.

What conclusion does this all lead to? Obama haters hate him just for being him; specifically the 1st African American President of the United States of America. Some of you can not STAND this. And, you will never stomach it.

His opponents create hurdles and obstacles just for the heck of it. Why, if Obama's opponents could murder their own children and somehow pin it on Obama; they would. They are so blinded by the rage over a black man leading this county, they would do anything to trip him up. The lies (Birthers) and downplaying (Osama Bin Laden, who is that?!) alone prove this.

The wall is indeed coming down. Is it being pushed down by a few folks (the rich) and what they don't understand is there are far too many on the other side for them to "crush" everyone.

 

[FerrelGeek]

I've said it before and I'll say it again. Unless we can find a way to re-energize our private sector and drastically cut back on .gov spending, we're fubared.

 

[piasabird]

So Amerin is anouncing closing power plants because they can not comply with some new EPA requirements. This cant be good for the future of my electric bill. Thank you Oh-Bummer! Raising the prices on anything is a bad idea.

 

[airdata]

The Ben Bernake can't say thing have failed because there's always another round of quantitative easing before they get the value of the dollar down to 0.

 

[Texashiker]

Prices of food going through the roof

Price of food is directly linked to the price of fuel, and the drought in Texas is not helping any.

As for the OP - The fed printing more money can only last for "so" long. Sooner of later we are going to need our jobs back from china.

As long as the federal reserve has a printing press, paper and ink, there is nothing to worry about.

 

[PokerGuy]

The business model for American corporations is squeeze costs and expand prices to maximize profit earnings.

Hey stupid, that's exactly what the goal of every corporation has always been: to maximize profit. Contrary to your delusional views, the goals have never been any different, and they shouldn't be.

 

[Jhhnn]

Well, at least they got that part right

It's a mess, and anyone who thinks DC is going to provide any answers is part of the problem.

There are consequences to the biggest credit bubble in the history of finance, aka "The Ownership Society". Repubs enabled it, cheered it and exploited it every inch of the way. They kept Dubya in the Whitehouse and their congressional majorities on the basis of that in 2004, plus the bogus WoT & Tax cuts.

When all of that turned upside down, they got fiscal religion, stand in the way of anybody doing anything about it. They want Obama to fail, for the govt to not function so they can regain control of it, create their ideal society, a new Gilded Age.

The true Bush constituency doesn't just profit regardless of the direction of the economy, they create and reinforce the swings to be able to accomplish that.

And so long as they can maintain a majority in the HOR and a blocking position in the Senate, they'll continue to drive the middle and working class to their knees. If they can regain the Whitehouse & the Senate, they'll have their boot on the back of our necks.

 

[Fear No Evil]

More lies by Dave. Gas is ~$3.15 and falling and milk is nowhere near $6. Just drove past a local walgreens advertising $2.99 milk.

http://www.myfoxtampabay.com/generic/consumer/tampa_bay_gas_prices

 

[spidey07]

But Obama keeps saying we've been recovering since he took office? Doing a heck of a job Barry.

And Jhnnn, this administration (to use holders words) has their boots on the back of business's neck. Financial regulation, healthcare law, EPA, labor board, suing private industry, soaring energy costs, etc. That's EXACTLY why we're in such bad shape with no hope of getting out as long as this president is in the white house.

 

[Illusio]

More lies by Dave. Gas is ~$3.15 and falling and milk is nowhere near $6. Just drove past a local walgreens advertising $2.99 milk.

http://www.myfoxtampabay.com/generic/consumer/tampa_bay_gas_prices

Gas is relative to where you live. Here (chicagoland) it's about $3.60-3.80 a gallon.

 

[GuitarDaddy]

But Obama keeps saying we've been recovering since he took office? Doing a heck of a job Barry.

And Jhnnn, this administration (to use holders words) has their boots on the back of business's neck. Financial regulation, healthcare law, EPA, labor board, suing private industry, soaring energy costs, etc. That's EXACTLY why we're in such bad shape with no hope of getting out as long as this president is in the white house.

I guess thats why corporate profits continue to set records
but then you never let facts get in the way

 

[spidey07]

I guess thats why corporate profits continue to set records
but then you never let facts get in the way

And that's a direct result of Obama's policies as they try to weather his economy and policies. Liberals keep asking "why don't businesses invest, they're just sitting on all that money!"

Why? Obama.

 

[Jaskalas]

I guess thats why corporate profits continue to set records
but then you never let facts get in the way

The government picking winners and losers with its bailout / stimulus money has made many cronies profit. The rest are sunk.

 

[Thump553]

Dave you let your innate sense of pessimism completely distort what Bernanke said. What Bernanke said what that we are in recovery, albeit much too slowly, and that if Congress cuts immediate spending at this point that will be counterproductive and send us into a full scale recession-again.

Don't let your constantly gloomy outlook make you become a trickle down proponent.

 

[Zebo]

Jobs are being shoveled out of the US by the truck load. If it can be created by hands, it is sent to China. If it can be created with a few keystrokes, it's sent to India.

The argument FOR outsourcing is that American workers are too expensive,... yet the price for what is being made is still the same. In fact, prices aren't going down, they are going up.

The business model for American corporations is squeeze costs and expand prices to maximize profit earnings. They are no longer cleaving excess wasteful spending - they are now snapping into bones. Or rather, they refuse to touch one fat bastard, yet they butcher someone who is nothing more than skin and bones.

How do you address that?

Do you honestly expect Americans to live off of $15K a year? Explain to me how this is even possible. Especially since prices have been increasing - all the while costs a constantly decreasing.

How much further sustainable can this approach possibly be??

So, if Obama attempts to curb such behavior; he is a communist socialist. You have racist inbred vomit screaming bloody murder every time Obama opens his mouth.

Clearly his terrorist killing streak doesn't mean much. I guess because not enough innocent Arabs were killed in the process? Dead innocent Arabs; something some of you have openly expressed joy over.

And, he can't do anything to stop American capitalist overlords from shoving all of the middle class and poor into a meat grinder.

What conclusion does this all lead to? Obama haters hate him just for being him; specifically the 1st African American President of the United States of America. Some of you can not STAND this. And, you will never stomach it.

His opponents create hurdles and obstacles just for the heck of it. Why, if Obama's opponents could murder their own children and somehow pin it on Obama; they would. They are so blinded by the rage over a black man leading this county, they would do anything to trip him up. The lies (Birthers) and downplaying (Osama Bin Laden, who is that?!) alone prove this.

The wall is indeed coming down. Is it being pushed down by a few folks (the rich) and what they don't understand is there are far too many on the other side for them to "crush" everyone.

lolz I like this guy.

Anyway wait until the feds can no longer pump over 12% of GDP with borrowed money per annum ~ 2 Trillion a year. You've seen nothing yet.

 

[Jhhnn]

But Obama keeps saying we've been recovering since he took office? Doing a heck of a job Barry.

And Jhnnn, this administration (to use holders words) has their boots on the back of business's neck. Financial regulation, healthcare law, EPA, labor board, suing private industry, soaring energy costs, etc. That's EXACTLY why we're in such bad shape with no hope of getting out as long as this president is in the white house.

Yeh- that's why corporate profits & corporate cash reserves are at record highs, huh?

I'm sure that's why millions of American families are struggling to support enormous debt loads taken on during the Ownership Society in the face of never diminishing un- and under- employment, too... flat wages & ongoing real estate devaluation.

The people at the top have never had it better, despite their whining & obfuscation, while median families have never had it worse since 1932.

 

[1prophet]

Dave you let your innate sense of pessimism completely distort what Bernanke said. What Bernanke said what that we are in recovery, albeit much too slowly, and that if Congress cuts immediate spending at this point that will be counterproductive and send us into a full scale recession-again.

Don't let your constantly gloomy outlook make you become a trickle down proponent.

I am sure that the people Bernanke hangs out with are indeed in a recovery, as for the rest of us we can just eat cake while we wait for that recovery.

 

[spidey07]

Yeh- that's why corporate profits & corporate cash reserves are at record highs, huh?

I'm sure that's why millions of American families are struggling to support enormous debt loads taken on during the Ownership Society in the face of never diminishing un- and under- employment, too... flat wages & ongoing real estate devaluation.

The people at the top have never had it better, despite their whining & obfuscation, while median families have never had it worse since 1932.

Does basic logic and business sense fail you? Have you ignored the scores of business leaders and CEOs who say it's because of this president and his policies that they are scared to invest? If a president puts in place policies that increase risk and operating costs as a business what is your best course of action?

Build capital and weather his storm just like what Americans are doing. The current economic situation is a direct result of this president. This really is just common sense.

 

[Ausm]

Well, at least they got that part right

It's a mess, and anyone who thinks DC is going to provide any answers is part of the problem.

Then what do you suggest the masses do???

 

[Ausm]

Yeh- that's why corporate profits & corporate cash reserves are at record highs, huh?

I'm sure that's why millions of American families are struggling to support enormous debt loads taken on during the Ownership Society in the face of never diminishing un- and under- employment, too... flat wages & ongoing real estate devaluation.

The people at the top have never had it better, despite their whining & obfuscation, while median families have never had it worse since 1932.

Spidey will belch out the Repuglican talking point "Uncertainty"!

 

[ConstipatedVigilante]

Bernanke needs to shut the hell up and stop messing up any chance of recovery with his press releases.