7/29/2005Maria Bartiromo/CNBC
"Tell me, what is the worst case scenario if in fact we were to see prices come down substantially across the country"?
Ben Bernanke/Chairman Council of Economic Advisors to the President
"Well I guess I don't buy your premise. It's a pretty unlikely possibility. We've never had a decline in house prices on a nationwide basis."
2/28/2007 Ben Bernanke/Chairman Federal Reserve
"There is not much indication at this point that subprime mortgage issues have spread into the broader mortgage market which seems to be healthy."
7/18/2007 "Overall the U.S. economy appears likely to expand at a moderate pace over the second half of 2007 with growth then strengthening a bit in 2008 to a rate close to the economy's underlying trend."
I don't think anyone is happy with the state of the economy today. But the worse thing is that the leadership of the country appears to be clueless as to any course of action other than low interest rates and easy money. Bernanke's crystal ball certainly appears to be very cloudy. But economists are there to make weather forecasters look good, and they haven't disappointed. Bernanke appears to be rather clueless in general, not unlike his political counterparts. Surely there must be someone better out there who can walk across the red hot political coals and still have a game plan on how to right the economy.
ReplyDeleteRobert, sorry to bother you on this.
ReplyDeleteI'm trying to RSS you and it's not working.
If you care to respond, my email is
mikefixac@gmail.com
I would say that guy is Ron Paul; the best thing he has done is spread ideas and awareness that there are alternative modes of thought.
ReplyDeleteI think these "leaders" just say what we want to hear. You won't ever arrive at the truth by listening to these people speak.