Today Bernanke said that there are "tentative signs" of an improvement in the economy, but this depends on the government's success in stabilizing shaky financial markets. Really? Tentative? Do you know what that means Ben?
ten·ta·tive
adj.
1. Not fully worked out, concluded, or agreed on; provisional 2. Uncertain; hesitant.
So he's basically saying that there are "uncertain signs" of an improving economy. Way to go! This is going to give the American people loads of confidence. The fed has recently contributed $1.2 trillion into the economy... is that actually stimulating the economy or stimulating a suckers rally? I have to believe the latter. How am I supposed to believe Helicopter Ben? (That nickname comes from a speech in 2002, where he referenced Milton Friedman's metaphor of a helicopter dropping money on a community as a way to rescue the economy) He's been wrong before...
Remember when he said "we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system" back in May of 2007? Good Call Ben, good call.
Tagged in: Economy, Ben Bernanke,
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