WASHINGTON (Dow Jones)--U.S. Federal Reserve Chairman Ben Bernanke Tuesday said it's likely [he doesn't really know] the recession has come to an end, but he reiterated that tight credit conditions and a soft labor market will prove to be a challenge [but not, of course, for the banksters and their willing accomplices in the media, government, and academe].Don't worry, Dear American, though you may occassionally grow weary of standing in long bread lines, leading banksters assure us that everything is back to normal.
From a technical point, the "recession is very likely over at this point," Bernanke said in a question-and-answer session at the Brookings Institution. [Again, he doesn't even know if it is over, not even "from a technical point," whatever that might mean.]
But he added that even if [!] recovery is underway, it's still going to feel like a very weak economy because credit conditions remain tight and any decline in the unemployment rate will probably only happen gradually. ["Look, maybe unemployment will stop rising and banks will staht lending again, maybe. Oy! Who knows? Whaddya askin' me for?"] He noted that one risk is that the economy will grow in the second half of 2009, but not enough to trigger a rapid recovery. [Another risk is that Bernanke and his whole jolly pirate crew will remain in charge.]
If there is only moderate economic growth, "employment will be slow to come down," he said. "It will come down, but it will take some time." [If, maybe ...]
Meanwhile, Bernanke expressed confidence that policymakers will move forward on plans to overhaul the nation's finance rules.
"I remain pretty optimistic that a comprehensive reform will be coming," he said. ["One thing is certain: we will continue plundering the stupid goyim as usual. About that we are very excited. Who's gonna stop us, our boy Obammie? Git owda hehr."]
In response to a question about the securitization market, Bernanke said he expects the market "will come back." But he said he's seen "very encouraging" signs that the market is improving. ["MSNBC tells us the market is improving, so sell what you have left and put the money into the market where we can get at it."]
Still, the market will be "simpler, smaller, less opaque" and subject to more oversight by regulators, all things that could constrain its growth for a period of time, said Bernanke.
The market probably "will not return to the size it was before," he said. ["The market will be smaller because by then we will have stolen it all! Ha! We only made billions from plundering Russia (right before they kicked us out, stupid Russians), but America has given us trillions! Is this globo-capitalism great or what? Mozeltoff, Arrgg!"]
Monday, March 7, 2011
Bankster Bernanke speaks
Despite Recovery, Economy Likely To Feel Weak.