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 Fed Forecasts Economic GloomPosted on Jul 9, 2008
Federal Reserve Chairman Ben Bernanke expects America’s economic struggles to continue well into next year and has asked Congress to expand his regulatory powers. Lawmakers are unlikely to fulfill his request any time soon. Bernanke also suggested that the Fed could continue to bail out investment banks.
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By jersey girl, July 11 at 3:25 pm #
The “fed” is a criminal enterprise of the highest order. Any regulating powers that are expanded for Bernanke means curtains for us.
So he wants to bail out the investment banks does he? Can’t you just see him standing there in his long black coat and top hat twirling a Snidely Whiplash moustache as he says that?
Report thisBy samosamo, July 9 at 9:19 pm #
I have begun to think of this crap of a government as the result of the neocon’s think tanks that go back to slick dick nix’s presidency where they started to plot, plan and scheme how to make it their world. I have often wondered what their main goal is from all these years of criminal and evil plotting, planning and schemming. Of course this has been going on for a while but I think the move is very aggressive now.
Report thisThe complicity of our elected bought off persons for any legislation and actions by a piece of shit president, w, leads me to think that this is it, the ‘elites’ are making their move for total control, a totalitarian rule. It may still head fake everybody with sham elections but this could very well be what is starting to take place.
The obscene price of oil and gas , the ruinous actions of the fed reserve, the military running amouk for corporate interests and congress still giving w whatever he wants in the way of legislation, money and doing nothing to stop his subversion of our government. And if Bernanke wanted expanded powers, he will get it. I doubt there are no more that 15 or 20 people in congress that not traitors to the people. Look for the next 6 months to be jammed packed with legisative gifts for w that will make it almost impossible to fix.
By Fadel Abdallah, July 9 at 3:53 pm #
Well, when they can’t any more spin the bad economic news, those good-for-nothing so-called economists must face the reality clear to everyone else and call a spade a spade. But don’t be misled about interpreting the word “gloom” as a “recession” for in this case it means “depression!”
Report thisBy scottk, July 9 at 9:32 am #
Don’t worry, Osame will bailout the banks. As for the rest of you, Osame is going to help you with his faith based initiative.
Report thisBy Alan, July 9 at 8:53 am #
(Unregistered commenter)
The much vaunted “prowess” of the Wall Street “quants”
Report this(the econometrics PHD’s who design exotic “derivative”
financial instruments for hedge funds) is largely responsible
for the current world financial debacle. The friedmanesque
belief in the absolute validity and viability of quantitative
analysis of market data has led us over and over again to
the same place, a football stadium outside Santiago di Chile.
By Ahh a Lion!, July 9 at 8:51 am #
(Unregistered commenter)
Just the solution to our problems: Give the private Federal Reserve, who has caused all the problems that are plaguing this economy, more power.
Here is the real issue with our economy, and nobody is talking about it. People simply bow down to the omnipotent Federal Reserve, without questioning the consequences of their money-printing policies.
Report thisBy hippy pam, July 9 at 4:49 am #
SO.....When are THEY GONNA SEND ME MORE MONEY[that has to be borrowed from China and the UAE]so I can pay some bill THAT HAS GOTTEN OUT OF HAND DUE TO THEIR INEPTNESS?????
Report thisBy tyler, July 9 at 4:30 am #
(Unregistered commenter)
ya thats the answer, ‘expand’ the powers of the fed. what a joke. how bout getting rid of the fed all together and give a ‘free market’ a chance. the fed has been f*!king the united states ever since wilson f’ed up and gave them power in the first place! wake up americans!
Report thisBy troublesum, July 9 at 2:05 am #
The MSN is reporting that McCain and Obama are not discussing economic problems because neither has a clue. Economics is a difficult subject to learn in a few weeks. We will be at the mercy of whichever economic advisor has the next president’s ear.
Report this