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Bernanke's Statements: Blatant Lies or Wishful Thinking?
Posted on June 13, 2008
I have been staring in amusement at Bernanke's latest proclamation: Danger of downturn appears to have faded.Despitea recent spike in the nation's unemployment rate, the danger that theeconomy has fallen into a substantial downturn appears to have waned,Federal Reserve Chairman Ben Bernanke said Monday.The Fed'spowerful doses of interest rate cuts, the government's $168 billionstimulus package, further progress in the repair of problems infinancial and credit markets, a gradual ebbing of the drag from thedeep housing slump and still solid demand from abroad for U.S. exportsshould help the ec...
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