Bernananke sees a 'jobless' recovery - so who is 'recovered' the fat cats at Goldman-Geithner?

[Geechie North]

Originally Posted by YAZ

Yep.

Problem is we elected FDR and got Grover Cleveland.

[freefall]

Originally Posted by Geechie North

Problem is we elected FDR and got Grover Cleveland.

No, you got Obama, and he is doing the best he can with the mess left by Crapper-in-Chief Bushie-Boy.

[cleanhouse]

Originally Posted by freefall

Federal Reserve Chairman Ben Bernanke sees the possibility of continued high unemployment even after the recession eases, a key Republican lawmaker who met with the Fed chief told CNBC.

Fed Chairman Sees Possibility Of 'Jobless' Recovery: Sen. Shelby - Economy * US * News * Story - CNBC.com (http://www.cnbc.com/id/31895367 - broken link)

Berenke is 100% on the money with this one. I am not going to buy the lagging indicator argument for this recession. Firms are not going to be in any hurry to hire even if their earnings are better.

Furthermore Foreclosures and declining home values are going to be a menace for a few years. All the consumption that took place over the last decade on home equity loans is gone for good.

Even if we get out of the recession by definition (increases in GDP) this is going to be slog along the bottom for a long time.

Unemployment tops 10 percent in 15 states in June - Yahoo! Finance (http://finance.yahoo.com/news/Unemployment-tops-10-percent-apf-4238768089.html?x=0&sec=topStories&pos=2&asset=&cc ode - broken link)=

Foreclosures Rise - Economix Blog - NYTimes.com

And just to point out: the Obama administration has failed in it s efforts to stem foreclosures. As predicted their "moratorium" earlier in the year only created a back jam.

[freefall]

Originally Posted by cleanhouse

Berenke is 100% on the money with this one. I am not going to buy the lagging indicator argument for this recession. Firms are not going to be in any hurry to hire even if their earnings are better.

Furthermore Foreclosures and declining home values are going to be a menace for a few years. All the consumption that took place over the last decade on home equity loans is gone for good.

Even if we get out of the recession by definition (increases in GDP) this is going to be slog along the bottom for a long time.

Unemployment tops 10 percent in 15 states in June - Yahoo! Finance (http://finance.yahoo.com/news/Unemployment-tops-10-percent-apf-4238768089.html?x=0&sec=topStories&pos=2&asset=&cc ode - broken link)=

Foreclosures Rise - Economix Blog - NYTimes.com

And just to point out: the Obama administration has failed in it s efforts to stem foreclosures. As predicted their "moratorium" earlier in the year only created a back jam.

Commercial is the next boot to drop - dont worry, Obama will bail the banks again, and Government Sachs will be doling iut million dollar bonuses again. Future of America? There is none.