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I stand in awe of this man. Really. No, really I do.
Who else but the Chairman of the Federal Reserve, which incidentally, is not a part of our federal government but a privately owned institution that prints our money out of thin air and loans it to us at interest, can make such an informed statement as this...
Bernanke: More jobs needed for real recovery
In uncommon move, Fed chairman fields questions from financial journalists
WASHINGTON — The United States can't fully recover from the worst recession in decades until hiring improves, Federal Reserve Chairman Ben Bernanke said Thursday.
The economy is strengthening, and will likely grow at a faster pace this year as more confident consumers and companies spend more, Bernanke said in prepared remarks to the National Press Club in Washington, D.C. But he warned that the growth won't be strong enough to quickly drive down high unemployment, and it could take several years before it returns to more normal levels.
“Until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established,” he said.
Read more here.
I hate to say it but it appears that the bank (Fed) has won. The makers of money technically own the US and we are their slaves....here on out.
We'll all have to continue the struggle, the fight to be well behaved slaves. Keep making money, keep paying income taxes, keep owing and owing and owing, because they want to permanently stay on the receiving end of the countless amounts of interest that can never be paid back. We are victims held prisoner in a most insane scandal and there seems to be no escape.
The are not laughing all the way to the bank...they are laughing at us while they sit inside their private bank and they have the biggest guns and protection on the planet. Amazing.
Can't we all just say...ha, nope, not paying you anything and we are no longer participating...??
I know the answer..but it seems like something we should be able to do..its all so arbitrary. we need to teach our children not to work for these guys. teach them how fucked they really are..we need new law enforcement that actually enforces law, not corporate statues designed to hide behind...don't go to war...I wish the people could see this...maybe they are..I dunno, sometimes it seems they aren't
More from the Federal Reserve's resident genius.
Fed chief says inflation not a threat to U.S.
Republican lawmaker disagrees, saying Fed won't see it until it's too late
WASHINGTON — Is inflation a growing threat or isn't it?
Federal Reserve Chairman Ben Bernanke thinks not, and he told a House Budget Committee meeting as much Wednesday even as lawmakers expressed worries about rising fuel and food prices in the United States and abroad.
The Fed might not see the inflation threat "until the cow is out of the barn" and inflation is spreading through the U.S. economy, warned committee chairman Paul Ryan, R-Wis.
“There is nothing more insidious that a country can do to its citizens than debase its currency,” Ryan said.
But Bernanke countered that while inflation is surging in emerging economies, there was little risk of it in the U.S.
“Inflation is expected to persist below the levels that Federal Reserve policymakers have judged to be consistent” with their mandate, Bernanke told lawmakers.
In his first appearance before the House since Republicans took control last month, Bernanke said the Fed is confident about continuing its plan, launched last November, to buy $600 billion in government debt to keep a lid on long-term borrowing costs.
The program has drawn ire from many policymakers in emerging markets, who have accused the United States of unfairly driving down the value of the U.S. dollar to boost exports. At home, many Republican lawmakers in Congress have attacked the program as potentially sowing the seeds of inflation.
Bernanke's inflation outlook was a tough message to deliver amid headlines of rising food and commodity costs across the globe. He also said expectations of future inflation had remained “stable,” suggesting little worry an inflationary psychology was building despite rising gasoline costs.
In prepared remarks, delivered before the hearing, Bernanke said the drop in unemployment over the last two months is encouraging, but cautioned that it will take several years for hiring to return to normal.
Bernanke expressed more confidence in U.S. economic growth, but he also warned that failing to forge a plan to reduce the government’s $1 trillion-plus deficits over the long term could eventually hurt the economy.
Read more here.
The best interests of the US is the last thing these guys are thinking about. In fact, they have no interest in the US other than keeping the veil over everyone's eyes while they rob the US blind.
It is a sad sad time for the US. The ghastly amount of money that the US government owes this private bank (Fed) is the nail in the coffin.
And now Germany is buying the NYSE? Like I've been saying for a long time..... bought and sold.
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