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-   -   GOOD NEWS??? Bernanke says recession 'very likely over' LOL (http://projectavalon.net/forum/showthread.php?t=16495)

peaceandlove 09-15-2009 04:56 PM

GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
MORE PROPAGANDA FOR THE SLEEPING MASSES! :mfr_lol:

Bernanke says recession 'very likely over'

By JEANNINE AVERSA, AP Economics Writer – 1 hr 19 mins ago

WASHINGTON – Federal Reserve Chairman Ben Bernanke said Tuesday that the worst recession since the 1930s is probably over.

Bernanke said the economy likely is growing now, but it won't be sufficient to prevent the unemployment rate, now at a 26-year high of 9.7 percent, from rising.

"The recession is very likely over at this point," Bernanke said in responding to questions at the Brookings Institution.

The Fed boss also said he is confident that Congress will enact a revamp of the nation's financial rule book to prevent a future crisis from happening.

"I feel quite confident that a comprehensive reform will be forthcoming," Bernanke said. It has been "too big a calamity" over the past year, with the near meltdown of the U.S. financial system, for Congress not to take action, he added.

President Barack Obama on Monday urged Congress to enact legislation this year.

Bernanke's speech to at Brookings was identical to the one he delivered last month at a Fed conference in Wyoming. Analysts predict the economy is growing in the current quarter, which ends Sept. 30, at an annual rate of 3 to 4 percent. It contracted at a 1 percent pace in the second quarter.

SOURCE: http://news.yahoo.com/s/ap/20090915/...VybmFua2VzYXlz

Northern Boy 09-15-2009 05:15 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Wonder if he is willing to bet on that Statement

peaceandlove 09-15-2009 11:23 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
There was no definite 'STATEMENT' made by Bernanke, only 'virtual' verbalization :naughty:

'very likely over'

worst recession since the 1930s is 'probably over'

economy 'likely' is growing

comprehensive reform will be 'forthcoming'

'near meltdown'
Sounds like one of those commercials that say 'virtually safe' or 'virtually free' :mfr_lol:

Similar to our 'virtual' President. :lightsabre:

Tango 09-16-2009 04:24 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Yeah... He is Right the recession has Ended...

Two weeks ago, unemployment went to double digits; That's a ' depression.'

They'll do anything to make it sound like they are doing something; other

than pulling their ' richard's.' The only thing that comes out of Ben's

mouth is more Shif... I want them held accountable...


Trooly,


Tango

Barcarolle 09-16-2009 05:35 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
The hard sell is now being heavily sold to attract in new sucker money into the markets while the fat cats cash in all their holdings.

All media outlets will also talk things up to promote a "thriving" economy, this will be the icing on the cake before the rug gets pulled completely.

Hyper inflation is maybe a few months away, soon paper money will be used for toilet paper ............ Heres an idea.

Might be a viable business proposition for Avalon marketing here, Federal Reserve Toilet Paper ... (with all the excess money being printed at plague like proportions), I think we can get pictures added to these proposed toilet bills with illuminati/Secret Society's/Fed Reserve members/Acorn/ three letter government agencies ect and all people involved with fraud/deception on each sheet .... This may provide some enjoyable sittings or perhaps some enjoyment for us when its time for us to take a dump.

JesterTerrestrial 09-16-2009 05:40 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
http://i588.photobucket.com/albums/s...117_money8.jpg

:D

peaceandlove 09-16-2009 06:27 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Quote:

Originally Posted by Barcarolle (Post 169283)
This may provide some enjoyable sittings or perhaps some enjoyment for us when its time for us to take a dump.

Good One Barcarolle!

TtC, are you there? Going :ot: for a minute!!! :yikes:
(meant to be a joke TtC because I had just read your Replying to Posts thread: http://projectavalon.net/forum/showthread.php?t=15717 )



PUMP FIRST...THEN DUMP!!! :mfr_lol:

Here is some good advice about Pump and Dump Schemes from a commission that has no idea how to spot them. :naughty:

U.S. Securities and Exchange Commission

Pump and Dump Schemes

"Pump and dump" schemes, also known as "hype and dump manipulation," involve the touting of a company's stock (typically microcap companies) through false and misleading statements to the marketplace. After pumping the stock, fraudsters make huge profits by selling their cheap stock into the market.

Pump and dump schemes often occur on the Internet (LOL) where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters (The Fed) will claim to have "inside" information about an impending development or to use an "infallible" combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters (newspapers) who stand to gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create. Once these fraudsters "dump" their shares and stop hyping the stock, the price typically falls, and investors lose their money.

For more information about microcap fraud, please read our publication, Microcap Stock: A Guide for Investors.

http://www.sec.gov/answers/pumpdump.htm

SOURCE and DISCLAIMER: http://www.sec.gov/answers/pumpdump.htm

I think I better give it up for the night, I'm having a hard time trying to replace words in the above article and make sense. You probably know what I'm trying to achieve. GOOD NIGHT!

Sarahmay 09-16-2009 12:59 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Well, something is over. Stay tuned to see what...

pyrangello 09-16-2009 03:32 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
My good friend from 7th grade who day trades the stock market said that all the graphs and charts are showing everything should be tanking in the market and it is not.

I take care of repo homes, we are presently cleaning out new repos 2-6 per day, it's double what it was a year ago and I keep hearing there is a huge wave of homes yet to come in but nobody knows when it's going to hit.

Just stay positive , help as many as you can and we all need to pull together to get thru all of this , eliminate fear by generating giving and hope. Eliminate fear by saying where is my next opportunity? Eliminate fear if you are at the bottom by saying "one day it's gonna get better , it's just a question of when". I know I was there at one time and things will turn around and persistance pays off.

pineal-pilot-in merkabah 09-16-2009 03:43 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
:lmao::lmao::lmao::lmao::lmao::lmao::lmao::lmao::l mao::lmao::lmao::lmao:

TheObserver 09-16-2009 04:01 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
A thought - "tis better to be poor and cheerful than rich and fearful"

Tango 09-16-2009 05:33 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
I don't trust them... Ok, this video says it all...

YouTube - CARLITO'S WAY 1993 - O'JAYS - 'BACK STABBERS'
Their all Backstabbers...

Tango

happyhollergal 09-17-2009 04:24 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Call me prejudiced, but as soon as I read the name Bernanke, I knew if he spoke he was lying. To top that off, he was speaking at the Brookings Institute, which we will remember was the same idiotic group who said way back when that the masses would go hysterical if they were told that UFOs and Aliens are real. It appears to me that ole boy Bernanke only speaks to his own choir members.

Christo888 09-17-2009 04:50 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Bubble Ben :lol3: is acting out "How the Grinch Stole Christmas" to a tee.

But this time 'Cindy Lou Who' will grab ol Bubble Ben :lol3: by the short hairs when his hand is in the cookie jar and his identity will be on full display for all to see.:naughty:

Bubble Ben :lol3: and All Greenspent:lmao:, you guys are the best... so sneaky no one will ever find out... :naughty:

Obama go out and have a ciggy, no one will know and you'll feel better.

sammytray 09-17-2009 06:08 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Quote:

Originally Posted by Christo888 (Post 169613)
Bubble Ben :lol3: is acting out "How the Grinch Stole Christmas" to a tee.

But this time 'Cindy Lou Who' will grab ol Bubble Ben :lol3: by the short hairs when his hand is in the cookie jar and his identity will be on full display for all to see.:naughty:

Bubble Ben and All Greenspent, you guys are the best... so sneaky no one will ever find out... :naughty:

Obama go out and have a ciggy, no one will know and you'll feel better.

:lmfao::smoke:

Starlah 09-17-2009 06:29 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
[QUOTE=peaceandlove;169175]MORE PROPAGANDA FOR THE SLEEPING MASSES! :mfr_lol:

Bernanke says recession 'very likely over'

By JEANNINE AVERSA, AP Economics Writer – 1 hr 19 mins ago

WASHINGTON – Federal Reserve Chairman Ben Bernanke said Tuesday that the worst recession since the 1930s is probably over.

_________________________________________________

Horse??!?!....:trumpet::trumpet:I think he needs to look where the Sun doesn't shine.......
__________________________________________________ ____
History is a lie commonly agreed upon..............Voltaire

peaceandlove 09-18-2009 09:09 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
???????

Sept. 15, 2009

Gold at record high AFTER Bernanke says recession is over

NEW YORK (MarketWatch) -- Gold futures climbed back above the $1,000-an-ounce mark to finish at a new record on Tuesday, after upbeat U.S. economic reports and as Federal Reserve Chairman Ben Bernanke said the recession is likely over.

However, he and other Fed officials reiterated views that unemployment will remain high and that the economy stay weak well into next year, fueling expectations that the central bank will continue to provide ample liquidity.

The front-month September gold contract ended up $5.10, or 0.5%, at $1,005.0 an ounce on the Comex division of the New York Mercantile Exchange. This marks the highest settlement for a nearby gold contract. The more active December contract rose $5.20, or 0.5%, to finish at $1,006.30 an ounce.

"Gold is continuing to knock on the $1,000-an-ounce door without making a concerted effort either way to test resistance or support," analysts at Goldcore said in a note.

Continues: http://www.marketwatch.com/story/gol...ows-2009-09-15

peaceandlove 09-29-2009 06:09 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Fed to Set Price of Money Today, 2:15pm ET

Posted September 23rd, 2009 by Michael Nystrom

Daily Paul

The commissars at the nation's monetary politburo, led by Chief Credit Czar Personage (CCCP) Ben "Helicopter" Bernanke, will announce the price of money today at 2:15 pm ET, and declare that the economy is sound. :lol3:

The price of money, which is set periodically by financial commissars in secret meetings such as the one being held today, determines the cost of all transactions across the nation and the world. The utmost secrecy is required at meetings in order to ensure the independence and non-politicization of the complex decision making process carried out by elite members of the cabal. Participating ring members include representatives of banks and finance companies. In order to ensure the stability and security of the global financial cartel, citizens, their representatives and members of the press are excluded from participating in, witnessing, or even hearing about proceedings.

Club insiders have recently sought to assure the public by repeatedly stressing that everything is under control, and that greater transparency poses a grave threat to this otherwise sound and robust international system of control.

SOURCE: http://www.dailypaul.com/node/108255

Read more (between the lines) at MarketWatch:
WASHINGTON (MarketWatch) -- Federal Reserve officials are likely to sound more upbeat about economic conditions in their closely-watched policy statement released later Wednesday, analysts said.

Con't... http://www.marketwatch.com/story/mor...fed-2009-09-23

peaceandlove 10-14-2009 05:37 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
IN CASE YOU DIDN"T KNOW!!! A LITTLE UPDATE!!! :mfr_lol:

IT'S NOT 'LIKELY OVER' ANYMORE, IT'S 'OFFICIALLY OVER'!!! :wink2:

STOP HOARDING, START SPENDING!!! :lmao:

U.S. recession over, unemployment seen at 10 percent

Mon Oct 12, 2009 7:00 pm
By Lucia Mutikani

WASHINGTON (Reuters) - The worst U.S. recession since the Great Depression has ended, but weak household spending as the labor market struggles to create jobs will slow the pace of the economy's recovery, according to a survey released on Monday.

The survey of 44 professional forecasters released by the National Association for Business Economics, also known as the NABE, found that 80 percent of the respondents believed the economy was growing again after four straight quarters of declines.

"The great recession is over," NABE President-Elect Lynn Reaser said.

Continues: http://www.campaignforliberty.com/wire.php?view=8007



An added note: I guess they haven't heard about the "GREATEST" Depression according to Gerald Celente still coming...

peaceandlove 10-29-2009 03:58 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
:mfr_lol:

Economy grows in 3Q, signals end of recession

October 29, 2009

By JEANNINE AVERSA, AP Economics Writer – 15 mins ago

WASHINGTON – The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It's the strongest signal yet that the economy has entered a new, though fragile, phase of recovery and that the worst recession since the 1930s has ended.

Going forward, many analysts expect the pace of the budding recovery to be plodding due to rising unemployment and continuing difficulties by both consumers and businesses to secure loans.

"This welcome milestone is just another step, and we still have a long road to travel until the economy is fully recovered," said Christina Romer, President Barack Obama's chief economist. "It will take sustained, robust ... growth to bring the unemployment rate down substantially. Such a decline in unemployment is, of course, what we are all working to achieve."

The much-awaited turnaround reported Thursday by the Commerce Department ended the streak of four straight quarters of contracting economic activity, the first time that's happened on records dating to 1947.

Continues: http://news.yahoo.com/s/ap/20091029/..._fi/us_economy



GDP Is..... Better Than Expected?

Thursday, October 29. 2009
Posted by Karl Denninger

Oh what a tangled web we weave....http://www.bea.gov/newsreleases/nati...ewsrelease.htm (Karl's link did not work so I found this)
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.5 percent in the third quarter of 2009, (that is, from the second quarter to the third quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 0.7 percent.
Looks good, right?

Hmmmm.... or is it?

Continues: http://market-ticker.denninger.net/a...-Expected.html

peaceandlove 11-01-2009 07:06 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
You can BRAINWASH some of the people some of the time, but you can't BRAINWASH all the people all of the time. :naughty:
Or as my friend like's to say, it's not BRAIN WASHING...it's BRAIN DIRTYING! :mfr_lol:
Choosing to stay out of the box, the TV box that is... :shocked:


Obama says new data shows U.S. economy recovering

Sat Oct 31, 2009 12:11pm EDT

By Ross Colvin

WASHINGTON (Reuters) - President Barack Obama said on Saturday this week's positive job and economic growth figures proved that his big spending efforts to stimulate the economy were working.

But he cautioned in his weekly radio address to Americans that "we have a long way to go before we return to prosperity" and more job losses were likely in coming days.

Democrats and Republicans agree the economy will be the top issue for the 2010 congressional elections, although the White House has disputed suggestions that they will be a judgment on Obama and his policies.

Continues: http://www.campaignforliberty.com/wire.php?view=8427

peaceandlove 11-01-2009 07:56 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
John Williams'
Shadow Government Statistics
Analysis Behind and Beyond Government Economic Reporting

http://i37.tinypic.com/2hqzbbk.jpg

Quote:

Have you ever wondered why the CPI, GDP and employment numbers run counter to your personal and business experiences? The problem lies in biased and often-manipulated government reporting.

We offer an exposé of the problems within the reporting system, and an assessment of underlying economic reality, through two basic services:
SOURCE and MORE: http://www.shadowstats.com/

peaceandlove 11-16-2009 12:28 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
To The Barkers: Answer This Question

Sunday, November 15. 2009
Posted by Karl Denninger

"The recession ended in June": Dennis Kneale

"The recession was definitely over in September": Any one of a number of people.

Ok. Let's say that I accept all this at face value, even though while driving through my definitely-beach-oriented local town here this afternoon I noted even more closed-and-gone storefronts than there were a couple of weeks ago, and last night at the local open-air mall, although the evening was absolutely gorgeous, you could have fired a 155mm Howitzer down the "main drag" without killing anyone - because there was almost nobody there, and literally not one shopping bag was in evidence.

I simply have to ask the pundits and the carnival barkers, of which CNBC is the worst (but certainly not the only sinner) the following - why do we need any of these programs if in fact the economy is growing again:
Zero interest rates from The Fed. Isn't 2%, 3%, 4%, 5% more consistent with economic growth? If indeed the economy is expanding, why do we need "funny money"?

$8,000 home-buyer tax credits. And not just first-time credits either - those were recently expanded, and the NAR has said quite clearly that "but for this program housing would collapse." Is this consistent with an economic recovery?

FHA underwriting mortgages at 3.5%, their default rate is going parabolic, their reserves are down to well under half of the mandatory minimum and there is no evidence in sight that their performance metrics are improving. With the aforementioned $8,000 "credit" and the FHA's willingness to monetize it, you can once again buy a home with "zero down", just as we did in the bubble. Is this consistent with an economic - and housing market - recovery?

The dollar carry trade. It's obvious and starting in June of this year the correlation between the dollar's move and the S&P 500 became nearly 100% on an inverse basis. Consumer confidence numbers were far below expectations Friday, yet as soon as that hit the dollar, the market rose - into worsening economic data. Again, is this consistent with an economic recovery?

"Cash for clunkers" - and oh, by the way, what happened to auto sales when it ended? Is the near-vertical drop-off in GM's sales as soon as the program ended consistent with an economic recovery? Is a claimed 10m expected 2010 units consistent with economic recovery when in 2005 and 2006 the industry sold nearly 17 and 16 million vehicles, respectively?

29.9% interest rates on credit cards via "jack-up" letters and other outrageous actions. Again, is this sort of gouging consistent with economic recovery?

Declining consumer credit demand. I've published the graph before and will reproduce it below. Is this consistent with economic recovery?
Continues with charts: http://market-ticker.denninger.net/a...-Question.html

peaceandlove 12-02-2009 10:21 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Fed survey finds recovery gaining momentum :mfr_lol:

By JEANNINE AVERSA, AP Economics Writer – 38 mins ago 12/2/2009

WASHINGTON – The economic recovery gained traction in late fall as shoppers spent a bit more and factories bumped up production. That assessment Wednesday by the Federal Reserve marked its most upbeat view since the economy tumbled into recession two years ago.

The Fed's new snapshot of business barometers nationwide found that conditions have generally improved since the last report in late October.

Eight of the Fed's 12 regions surveyed reported some pickup in activity or improved conditions, the Fed said. Those regions were: Boston, New York, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco.

The four other regions — Philadelphia, Cleveland, Richmond and Atlanta — described conditions as little changed or mixed.

The new report adds to evidence that the economy is rebounding after the worst recession since the 1930s.

CONTINUES: http://news.yahoo.com/s/ap/20091202/..._fi/us_economy


I wonder if the Full Moon today is causing me laugh at almost everthing!!!

Full Moon — December 2, 2009 in Gemini: Disturbing news about transportation and education and the possibility of strikes are to be expected. Mercury, "Lord of Communication and Transportation,” will cause serious setbacks to the possibilities of traveling or communicating. Dramatic changes are ahead in the worlds of transportation, finance, traveling, and the postal industries. Sad news involving serious accidents, terrorism and devastating weather is on its way. Many people will find themselves stranded in airports. The impact of these events will bring on a form of financial death and rebirth for some large corporations who will have to merge to survive. The year will end in a destructive Supernova window and could prove to be difficult for government decisions and actions.

Lunation impact on all signs:

Aries - Difficult news from the mail and a deal or a trip gets you worried.
Taurus - Trouble with a contract or corporation, don’t sign anything now.
Gemini - Stress coming from your past, a business or emotional partner is burdensome.
Cancer - Don’t worry about your past. Stress at home is expected soon.
Leo - A friend and a new endeavor will worry you.
Virgo - A change of career or stress at home is a problem, be patient.
Libra - The mail or telephone may bring you sad news from faraway.
Scorpio - Expect a restructure of your finances and a form of death soon.
Sagittarius - Don’t take any chances with your partners or traveling.
Capricorn - Eliminate all guilt to bring about better work and health.
Aquarius - Love and children matters won't go well for a while, just be patient.
Pisces - Your home life brings stress, you may have to move soon.

From Dr. Turi's 2009 Moon Power Starguide

peaceandlove 12-07-2009 08:49 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Fedspeak Translation 12/7/2009

Monday, December 7. 2009
Posted by Karl Denninger

Ben Bernanke spewed forth: Chairman Ben S. Bernanke
At the Economic Club of Washington D.C., Washington D.C.
December 7, 2009
http://www.federalreserve.gov/newsev...e20091207a.htm
It is a pleasure to speak once again before the Economic Club of Washington. Having faced the most serious financial crisis and the worst recession since the Great Depression, our economy has made important progress during the past year. Although the economic stress faced by many families and businesses remains intense, with job openings scarce and credit still hard to come by, the financial system and the economy have moved back from the brink of collapse, economic growth has returned, and the signs of recovery have become more widespread.
We printed up $12 trillion in "freebie" credit, manipulated the MBS market (and in doing so have fomented and created an accounting fraud for all of those entities that hold said paper) and have purchased alleged "assets" at vastly over their actual value on purpose. This has allowed financial institutions to claim to be solvent when in fact they are bankrupt several times over.
Understandably, in a situation as complicated as this one, people have many questions about the current situation and the path forward. Accordingly, taking inspiration from the ubiquitous frequently-asked-questions lists, or FAQs, on Internet websites, in my remarks today I'd like to address four important FAQs about the economy and the Federal Reserve. They are:
1. Where is the economy headed?
2. What has the Federal Reserve been doing to support the economy and the financial system?
3. Will the Federal Reserve's actions lead to higher inflation down the road?
4. How can we avoid a similar crisis in the future?
Where Is the Economy Headed?
First, to understand where the economy might be headed, we should take a look at where it has been recently.1 A year ago, our economy--indeed, all of the world's major economies--were reeling from the effects of a devastating financial crisis.
We created this mess through malfeasance and misfeasance. In combination with other central banks around the world we pumped into the economy tremendous amounts of liquidity that should not have existed. This in turn created tremendous instability and asset bubbles throughout the economy, most particularly in housing.
Policymakers here and abroad had undertaken an extraordinary series of actions aimed at stabilizing the financial system and cushioning the economic impact of the crisis.
We cut off our Pinocchio nose. Repeatedly. The damn thing keeps wedging in the door when I try to go take a leak!
Critically, these policy interventions succeeded in averting a global financial meltdown that could have plunged the world into a second Great Depression. But although a global economic cataclysm was avoided, the crisis nevertheless had widespread and severe economic consequences, including deep recessions in most of the world's major economies. In the United States, the unemployment rate, which was as low as 4.4 percent in March 2007, currently stands at 10 percent.
We created it on purpose and through willful neglect, you ate it. Aren't we special?

Continues Extensively: http://market-ticker.denninger.net/a...n-1272009.html



Dec. 7, 2009, 2:26 p.m.

Gold falls for second day as Bernanke sees low inflation risks :mfr_lol:

NEW YORK (MarketWatch) -- Gold futures fell Monday for a second session, pulling back from record highs, as comments from Federal Reserve Chairman Ben Bernanke that inflation will remain "subdued" reduced the metal's appeal as a hedge against rising prices. :lol3:

"The Fed is committed to keeping inflation low and will be able to do so," Bernanke said to a group of economists in Washington. However, inflation "appears likely to remain subdued for some time."

Continues???: http://www.marketwatch.com/story/gol...als-2009-12-07

peaceandlove 12-15-2009 04:50 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
http://i45.tinypic.com/vzaut4.jpg
SOURCE: http://www.realityzone.com/currentperiod.html



Obama Economic Aide: All Agree Recession Is Over :lmfao:

POSTED: Sunday, December 13, 2009

WASHINGTON -- The top White House economic adviser says "everybody agrees the recession is over" even though many experts predict unemployment could climb higher.

Larry Summers says key indicators have shown that the economy is beginning to expand again and that job creation probably will follow. The jobless rate stands at 10 percent.

He acknowledges it will take "substantial time" before the economy recovers entirely. But he says that "what we can take satisfaction from is we've walked back from the brink."

Summers, who appeared Sunday on ABC's "This Week," spoke days after the House passed a major financial overhaul bill despite GOP objections that it would add to the deficit and hurt businesses.

Source: http://www.news4jax.com/politics/21953879/detail.html



Steve LIESman Gets Skewered :lightsabre:

Friday, December 11. 2009
Posted by Karl Denninger

Do you watch CNBC for "economic" information?

If you do - or if you read any of the other so-called "mainstream" sources - you need to watch this exchange between Steve LIESman and Rick Santelli. It's a classic, and puts into stark relief exactly what you, the consumer and ordinary man, are dealing with when you listen or read the "mainstream" media:

"Don't worry folks, they tell us there's no inflation." Santelli :lol3:

VIDEO (5:05): http://www.cnbc.com/id/15840232?video=1356136457&play=1

Steve's claim - that there is no such thing as "emergency" unemployment benefits - is just plain BS.

Rick Santelli is exactly correct: http://www.dol.gov/opa/media/press/eta/ui/current.htm
States reported 4,178,780 persons claiming EUC (Emergency Unemployment Compensation) benefits for the week ending Nov. 21, an increase of 327,729 from the prior week. There were 729,256 claimants in the comparable week in 2008. EUC weekly claims include first, second, and third tier activity.
No such thing as "Emergency Unemployment Compensation" eh Steve?

Nice try.

Oh, and it is likely worse than it appears, because we are now far enough into this that people who were on extended compensation (the "emergency programs") are starting to roll off. As I have pointed out when the monthly employment situation reports are issued we get some color on this, but even there, not as much as we'd like.

The government, of course, has no interest in delineating exactly how many people fall off the rolls as a consequence of long-term unemployment. If they were to do that then we would have a reasonably accurate count of the actual unemployed in this country, but if they did that we would also likely have to deduce - and report - that our employment situation today is, in fact, not much different than it was during the depths of the Depression in the 1930s.

That just will not do, and as a consequence the government slices and dices the numbers, making it difficult or even impossible to determine exactly what is going on, and the so-called "senior economics reporters" who allegedly have read hundreds of these reports claim that the emergency program - which showed significant gains in the number of people collecting benefits under it (remember, this is a seasonally strong period for Christmas, right?) - simply doesn't exist.

Is that ignorance, willful ignorance, a mistake - or orders from superiors at the network?

Does it matter, if you're the one who is misled into thinking that the economy is doing better than it really is, and thus make a poor business or personal economic decision?

One final thought: There are anecdotal reports of many seasonally-hired workers being laid off already, before Christmas, as expected sales gains (promoted no doubt by all this media pumping) have failed to materialize. These people will not show up in the initial jobless claims: they either won't have worked enough to qualify to file a new claim, or if they were previously receiving benefits they won't be an "initial" claim. They will, however, show up in the household survey either in December or January.

Continues: http://market-ticker.denninger.net/a...-Skewered.html

marcusaurelius13 12-15-2009 05:14 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
LOL good stuff. A friend of mine works on the board of trade. According to him, the media is pumping up the market and being very "nice" with the unemployment numbers. He says after the holidays be prepared for a big dive in the market. He estimates the DOW heading back under 6000 by the summer. It is now over 10,000 if im not mistaken. The retail market is the big thing that is going down he said...which at this point is common knowledge.

I think the fact Obama and his "advisors" are making all of these statements is pretty scary. In everything they do, they seem to be separating themselves from any and all responsibility and accountability, when in fact, they are working for the FED. 2010 is gonna be a hell of a show.

peaceandlove 12-15-2009 06:13 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Quote:

Originally Posted by marcusaurelius13 (Post 200028)
LOL good stuff.

I think the fact Obama and his "advisors" are making all of these statements is pretty scary. In everything they do, they seem to be separating themselves from any and all responsibility and accountability, when in fact, they are working for the FED. 2010 is gonna be a hell of a show.

:starwars:


Blessings marcusaurelius13,

:welcomeani: and glad you enjoyed the commentary, picture and video. I really get a kick out of Karl Denninger's blog...he received the Accuracy in Media 2009 Grassroots Media Award ~ which I have posted here: http://www.projectavalon.net/forum/s...karl+denninger

I heard a 'statement' today on a radio show (I think Hannity), that Obama has given himself a solid B+ for his efforts since being in office. :lol3:

According to recent popularity polls it doesn't appear much of the public agrees.

PaL

371 12-15-2009 06:30 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
I say: Bernanke 'very likely' full of it...

marcusaurelius13 12-15-2009 07:42 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
"I heard a 'statement' today on a radio show (I think Hannity), that Obama has given himself a solid B+ for his efforts since being in office."

LOL Oh boy you missed it. Oprah did a "White House Christmas Special" That wasn't even the worst of what he said, the whole show was... It was...how do you say it....artificial vomit. A pure slap in the face of any intelligence period. I didn't catch all of it, but what hit me hardest were these few, incredibly arrogant red-flag words. I can't remember exactly, but it went along these lines...

OBAMA, "Here in America, as the world's SOLE MILITARY SUPERPOWER, we have a duty to uphold justice where deemed necessary."

My first thought to that comment was, is there a BCS computer ranking for that? (For anyone that doesn't know, the BCS is a college football rating computer system)

My second thought was, did he just declare war with the world? The comment was so arrogant and abbrasive, I couldn't find any sense of it. For the leader of a free world, to make such a statement, made me sick to my stomach. He basically said to everyone,"you don't like us, come and get it." THIS GUY WANTS WAR MORE THAN BUSH, MORE THAN ANYONE, AND THE "PEOPLE FELL FOR THIS ENORMOUS HOAX."

marcusaurelius13 12-15-2009 07:50 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Here is the video clip...at 1:45, the SUPER POWER comment begins

http://www.youtube.com/watch?v=JNt9QGhe_J4

peaceandlove 12-16-2009 08:36 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Quote:

Originally Posted by marcusaurelius13 (Post 200128)
LOL Oh boy you missed it. Oprah did a "White House Christmas Special" That wasn't even the worst of what he said, the whole show was... It was...how do you say it....artificial vomit.

Thanks marcusaurelius13,

I didn't realize that statement was made on Oprah, she didn't look very impressed!!!

PaL



Fed holds rates at record low to fuel recovery

By JEANNINE AVERSA, AP Economics Writer – 4 mins ago

EXCERPT: Super-low interest rates are good for borrowers who can get a loan...:lmao:

WASHINGTON – The Federal Reserve pledged Wednesday to hold interest rates at a record low to drive down double-digit unemployment and sustain the economic recovery.

The Fed noted that the economy is growing, however slowly. And turning more upbeat, it pointed to a slowing pace of layoffs.

Still, Fed Chairman Ben Bernanke and his colleagues gave no signal that they're considering raising rates anytime soon. They noted that consumer spending remains sluggish, the job market weak, wage growth slight and credit tight. Companies are still wary of hiring, they said.

Continues: http://news.yahoo.com/s/ap/us_fed_interest_rates

peaceandlove 12-30-2009 07:55 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Consumer Confidence - Better?

Tuesday, December 29. 2009
Posted by Karl Denninger

I love the headline from Bloomberg: U.S. Economy: Confidence Rises as Outlook Brightens http://bloomberg.com/apps/news?pid=2...zsPJld8c&pos=1
Dec. 29 (Bloomberg) -- Confidence among U.S. consumers rose in December for a second month as pessimism over the outlook for jobs diminished.
It did?
The share of consumers who said jobs are plentiful fell to 2.9 percent from 3.1 percent, according to the Conference Board. The proportion of people who said jobs are hard to get decreased to 48.6 percent from 49.2 percent.
Ok, so jobs are less "plentiful" but are "less hard to get"? That's improvement.... how? (By the way, 3% of people believing that jobs are "plentiful" is pretty-much indistinguishable from zero, no?)
The gauge of expectations for the next six months climbed to 75.6, the highest since the recession began two years ago, from 70.3 the prior month.
WHAT expectations? Oh, general expectations. Yes, yes, we know that the incessant media pumping makes people "feel" better. But...
The proportion of people who expect their incomes to rise over the next six months decreased to 10.3 percent from 10.9 percent. The share expecting more jobs improved to 16.2 percent from 15.8 percent.
So we expect more jobs (by a bit) but less income (by a bit.)

Hmmm... can you remind me again what drives consumer spending? It was home equity withdrawal but you can't do that any more. It was then (late 2007 and into 2008) credit cards, but those are being closed down and pared back too.

So let's see... that would be.... current income, right?

The FOMC has said:
“Deterioration in the labor market is abating,” the FOMC said in a statement Dec. 16 after meeting in Washington. “Household spending appears to be expanding at a moderate rate, though it remains constrained by a weak labor market, modest income growth, lower housing wealth, and tight credit.”
Modest income growth eh? Uh huh. Is that "income growth" all handouts from the government? That's pretty much a function of the government being able to continue to borrow and spend like a drunken sailor, yes?

How exactly is that going to work out with the bond market saying "bite me!" This is what the measured move off the current pattern in the TNX is saying lies in our reasonably-near-term future:

See CHART at link below...

That in turn completes this pattern, which targets ~6.1% on the ten year bond:

See CHART at link below...

That ought to be quite interesting - a roughly 60% increase in 10 year bond rates eh? Since the 10yr is the best proxy for mortgage rates (they tend to run about 100-150bps over 10s) this squares with the 30-year bond projection that would put mortgages up in the 7s.

Good luck on that "expected improvement" with that sort of move in the bond market, say much less what this will do to government borrowing costs and the government's ideas about borrowing another $1.7 trillion this fiscal year.

Continues: http://market-ticker.denninger.net/a...ce-Better.html

peaceandlove 01-13-2010 01:21 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
White House credits stimulus with up to 2M jobs :sneaky2:

Washington, August 6, …
By MARK S. SMITH, Associated Press Writer – 40 mins ago

WASHINGTON – President Barack Obama is trumpeting a new White House estimate that his top economist calls "stunning": His stimulus plan has already created or saved up to 2 million jobs.

The analysis is part of the administration's quarterly report to Congress on the controversial $787 billion package of spending and tax cuts he signed weeks after taking office.

Obama planned to highlight the report Wednesday during a visit to a Lanham, Md., training center for union electricians that specializes in "green" technology.
Republicans have denounced the stimulus plan as an expensive flop, pointing to a national unemployment rate stuck at 10 percent and December figures showing the economy shed 85,000 more jobs.

But the report from the President's Council of Economic Advisers said the economy is a lot better off than it would have been without the stimulus. Citing its own analysis plus a range of private sector summaries, the council estimated the annual growth rate last year would have been roughly 2 percentage points lower, and there would have been 1.5 million to 2 million fewer jobs.

Continues if you want more propaganda programming: http://news.yahoo.com/s/ap/20100113/.../us_obama_jobs




If Consumer Spending Is Improving, Where Is It?

Monday, January 11. 2010
Posted by Karl Denninger

I know, I know, "the consumer is stabilizing" remember? Let's look at personal income and spending.

Here's the latest, archived on The Ticker so it doesn't get overwritten (click for a full page):

SEE CHART AT LINK BELOW

Note that July, August and September are all third quarter. The numbers are +0.2%, +1.3% and -0.6%, for a net of +1.1%.

Perhaps you can square this with the following, because I cannot:

SEE CHART AT LINK BELOW

Income tax receipts square with employment (or rather the lack thereof), and despite the claims of the media that we have "10% unemployment" the fact is that the labor participation rate is back to where it was in the early 1980s. Worse, during the 2000 decade we did not return one net person to the labor force on an annualized basis but we did add 25 million more Americans to the nation!

We didn't lose 9 million jobs, we have a colossal THIRTY FOUR MILLION unemployed that weren't in 2000 - nine million who lost their job and another twenty-five million who came to (or were born into and reached working age in) the country but never got a job!

This is instantly visible in the labor participation rate:

Continues: http://market-ticker.denninger.net/a...ere-Is-It.html

peaceandlove 03-11-2010 12:20 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Might be easing for those on easy street...

Cities Where The Recession Is Easing

Francesca Levy, Forbes.com Mar 3rd, 2010

In these 10 metros, jobs are projected to grow and the housing crisis is stabilizing.

In recent weeks business in Washington, D.C. ground to a halt as record snowfalls pummeled the area and a sparring match over national health care reform hijacked the political conversation. But the nation's capital is getting something right: It is emerging from the recession better than any other major city in the country, according to research by Forbes.

Continues: http://realestate.yahoo.com/promo/ci...sion-is-easing

Lost soul 03-11-2010 01:36 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
The recession is over.

The depression has begun.

Fredkc 03-11-2010 04:16 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Bernanke wouldn't have a clue.... even if you gave him another one!

... and if he did, he'd still lie.

;)

peaceandlove 03-11-2010 11:00 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
... and if he did, he'd still lie. :naughty:

http://i39.tinypic.com/axjg9h.jpg http://i42.tinypic.com/5d8mkp.jpg

peaceandlove 03-17-2010 07:00 PM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
What a joke!!! :lol3: Economy growing!?!?! :lol3:

Trying to say the crisis is over!!!

Health Care, Bailouts, Bonuses...

GEITHNER vs MADDOW pt.1 of 3

From: MoxNewsDotCom | March 16, 2010

VIDEO (8:51): http://www.youtube.com/user/MoxNewsD.../9/tneFTwoAx9E

peaceandlove 04-09-2010 03:44 AM

Re: GOOD NEWS??? Bernanke says recession 'very likely over' LOL
 
Couldn't resist this one on Yahooooooo......

How To Tell When The Recession Is Really Over

Rick Newman, On Tuesday April 6, 2010

There are two kinds of recessions :mfr_lol:: the one that economists measure, and the one that ordinary people feel.

The official recession is over. That's because the economy is growing again after a sharp decline, with GDP back to the levels of mid-2008. For people who have kept their jobs, suffered no loss of income and enjoyed a rebound in their investments thanks to the year-long stock market rally, things are pretty good.

Excerpt:

Here are five things that still must happen for a robust recovery to kick in.

Banks need to lend more...
Incomes need to rise...
Housing needs to stabilize...
Confidence needs to rebound...
Jobs need to return...


Continues: http://finance.yahoo.com/news/How-To...93407.html?x=0



Karl Denninger always not far behind the news headlines!

If Employment Has Bottomed....

Thursday, April 8. 2010
Posted by Karl Denninger in Macro Economics

... why is it that unemployment claims data fails to show improvement? http://www.dol.gov/opa/media/press/eta/ui/current.htm
In the week ending April 3, the advance figure for seasonally adjusted initial claims was 460,000, an increase of 18,000 from the previous week's revised figure of 442,000. The 4-week moving average was 450,250, an increase of 2,250 from the previous week's revised average of 448,000.
That "4" handle doesn't seem to be able to be hammered downward. But more importantly is the data in the unadjusted numbers - we are seeing two very disturbing trends here.

First is that "extended benefits" spiked higher by 77,403 in the last survey week available in that series (March 20th) but also the EUC series is showing what appears to be a lot of people rolling off extended benefits.

The household data in the employment report (for March) did not disclose anything that would account for this EUC number that one could call "positive" - that is, it's pretty clear that 300,000 people didn't come off EUC programs into work in that week.

The obvious cacaphony to further extend unemployment (from the 99 weeks now possible in some states) will rise in volume with this report I'm sure, but unfortunately that sort of support is exactly backward. At some point people have to have an incentive to move to where the jobs are or start business interests of some point on their own, and continually extending unemployment benefits doesn't accomplish either.

This is one of the giant "unintended consequences" of support for housing prices and "extend and pretend" policies. We should have forced the foreclosures through the system immediately and we still should do it now. A homeowner who is deeply underwater cannot move to where the jobs are, as they can't sell their house for what they have out in mortgage(s). A renter can scoot much more easily. We live in a nation where even in the depths of this economic mess (and all messes past, present and future) there are jobs - they just might not be where you currently live. In addition forcing the foreclosures through the system will force prices lower, which means that the newly-mobile worker will find it easier to rent or buy a new house - where they relocate to.

While it sounds rude, after nearly two full years of unemployment payments you're well beyond the "we're helping you" point and into the "we're paying you not to work" realm. A dynamic economy requires people who will become motivated to do whatever is necessary to find employment and sustain themselves. That "whatever is necessary" may involve pulling up the roots, and if it does, that's what people should be have incentives to do.

The fact is that even in The Depression 75% of the people had jobs, and there were jobs to be had - in some parts of the country. There might not be where you live now, but there are jobs - somewhere in this country, even if you don't like the hours, job description or pay.

I know nobody wants to hear things like this, and I'm sure I will be called names for suggesting "no more extensions", but the Federal Teat cannot be the support system for people over periods of two years or more - irrespective of how bad the economy is, in the form of cash handouts. We can only increase GDP by actually increasing output, and that means people have to have an incentive to do whatever is necessary to accomplish that - even if it brings howls of protest, and it will.

Source: http://market-ticker.denninger.net/a...tomed.....html


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