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Bernanke: Recession Will ‘Probably’ End This Year

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Posted on Mar 16, 2009
Bernanke
latimes.com

In a rare interview with Ben Bernanke broadcast Sunday on “60 Minutes,” the Federal Reserve chairman allowed himself to sound slightly more optimistic, although ever so cautiously so, about the possibility that the American economy will pull out of recession soon—perhaps, he said, by the end of this year.

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By Suzie, March 18 at 6:41 pm #
(Unregistered commenter)

WOW - the Biggies are now saying recession should end soon!!!!  Well, then, why hasn’t it??? If it was so on the horizon why the hell are we bailing these arses???

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By jr., March 17 at 2:52 pm #

In that interview Bernanke asked americans to “just be patient”.  Does he not know starvation has no patience?  Perhaps that notion is serving as their gauge for how much they can get away with.

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By PTDBD, March 17 at 11:15 am #
(Unregistered commenter)

Those pallets of money really impressed me. If this second most powerful man in America can create money simply by increasing the digits on Bank’s bottom line, then why shouldn’t we be coming out of a recession?

Hell, why are we in a recession? Just get all that money out there and drop it into people’s laps. That’s the ticket, the biggest lottery ticket of all time. Bearded dude, make like the sorcerer’s apprentice and print that paper so we can paaaarty.

Crank that paper prestidigitizer to dizzying heights and restore America’s confidence game!

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By Ribald, March 16 at 7:29 pm #
(Unregistered commenter)

Disclaimer: Pulling out of the recession may take the form of a depression.

  Bernanke is (probably) the last person who should be displaying optimism. The Federal Reserve itself refuses to disclose the recipients and collateral of trillions of dollars in Fed loans because of the systemic consequences (i.e. outrage and subsequent regulatory intervention) that would be caused by public knowledge of their insolvency.

  In other words: it’s much worse than it looks.

  Initiatives like the TALF program and an exuberant eagerness to accede to the whims of the fraudsters make it even clearer that the system is still in full-blown fraud mode. It seems they think a deepening crisis will play directly into their hands (by justifying greater secrecy and legal immunity).

  Unless heads roll (figuratively), the economy will likely continue its downward trend. If, by some chance, it recovers without accountability, there will be no further reason to hold back prosecution of the greatest financial frauds in history.

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