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Bernake Speaks...

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April 08, 2010 – Comments (1)

So I found it interesting yesterday that Bernanke warned about the nasty deficits and debt level we have now. My knee jerk reactions... kind of creepy juxtapositioned against Alan Greenspan being grilled yesterday about not giving good enough warning about the bubbles on his watch. My next thought... well I have never quite got over how Bernanke said in 2008 the bailouts had to go through or we would have a recession and of course, I believe it was three months later we learned we had been in one since late 2007 (and many of us suspected such, so why did it seem like a lot of these people who should have figured it out either didn't know or didn't want to say anything...). So if he's saying this now, does it mean he's acknowledging just what a huge mess it actually is? Maybe I'm being unfair to fixate on that, but it's hard to get over. (And of course, I'm pretty sure a lot of us actually think the Fed policies end up setting the stage for future problems.)

I have been trying to keep out of a lot of the debates about health care because I've noticed lots of people don't seem to want to hear anything about unsustainable government spending and debt that a lot of us have been fretting about for years and what I think are legitimate concerns that this is going to end up being more of the same (and possibly be very onerous for individuals and small businesses). It's like this isn't supposed to be part of the discussion, like everyone would rather it be politicized and emotional (and compartmentalized) and ignore any discussion of economic ramifications or the fact that the economy's on precarious footing. And I'm not hearing too much buzz about what seemed like cautionary statements from Bernanke (including what seemed to me some good acknowledgment that if you call this a recovery, it's a weak one, what with high unemployment etc.), which seems interesting too (maybe I'm not looking in the right places though).

 

 

1 Comments – Post Your Own

#1) On April 08, 2010 at 9:45 AM, TMFLomax (44.62) wrote:

Oops. How sad, I misspelled Bernanke.

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