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| Wednesday, April 02, 2008 |
| Bernanke Offers Bleaker View on U.S. Economy |
NYTimes article: Bernanke Offers Bleaker View on U.S. Economy In his testimony, Mr. Bernanke presented a laundry list of coming economic woes. He said he expected the unemployment rate to rise and payrolls to shrink. In addition, home construction would continue to fall, he said, and inflation will remain a concern for several months.
“We expect inflation to moderate in coming quarters,” he said, but added, “Uncertainly about the inflation outlook has increased. It will be necessary to continue to monitor inflation developments carefully in the months ahead.”
Mr. Bernanke also cited strains in a range of credit markets, including those for corporate debt, municipal bonds, student loans and government-backed mortgages, but added that he was “confident in our economy’s long-term prospects.” Labels: Inflation Intimation |
| posted by Boston Gal @ 10:23 AM *
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| 2 Comments: |
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There absolutely is bias in the media, but the lovely thing in the US is that at the same time you have the left leaning NYTimes and NPR, you have balancing doses of WSJ and Fox.
But I think this pretty much debunks the idea that the entire recession is merely a figment of the lefty media's imagination. If Bernanke of "oh we're not bailing out Bear Stearns" fame is prognosing bleak, we're probably not doing so swimmingly.
Unless Chris thinks that Bernanke is also a tool of the left-leaning media.
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Nope I do not think he is a tool of the left wing media. I actually like Bernanke quite a bit. I am generally a fan of the Fed. However, it depends on which article you read and "how" you read them.
This same information covered by smartmoney, and MSN's money central is far less pessimistic in nature.
Even within the NYT article there are positive statements. Depends I guess on whether you are and optimist or a pessimist at heart.
For me, the glass is neither half empty, or half full, quite simply the glass is too damned big.
Sure we can all do more to protect ourselves, reel in some unnecessary spending etc. The economy is very resilient over all and there truly is no need to panic. Even today's job data was positive. The last two weeks the market has had more daily gains over all than losses.
The sky is not falling. Keep investing, keep saving. Keep smiling. Its all gonna be just fine!
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There absolutely is bias in the media, but the lovely thing in the US is that at the same time you have the left leaning NYTimes and NPR, you have balancing doses of WSJ and Fox.
But I think this pretty much debunks the idea that the entire recession is merely a figment of the lefty media's imagination. If Bernanke of "oh we're not bailing out Bear Stearns" fame is prognosing bleak, we're probably not doing so swimmingly.
Unless Chris thinks that Bernanke is also a tool of the left-leaning media.