Bernanke 2 years ago on housing bubble

Discussion in 'Wall St. News' started by Pekelo, Feb 17, 2008.

  1. Pekelo


    "Thursday, October 27, 2005

    "Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve.

    U.S. house prices have risen by nearly 25 percent over the past two years, noted Bernanke, currently chairman of the president's Council of Economic Advisers, in testimony to Congress's Joint Economic Committee. But these increases, he said, "largely reflect strong economic fundamentals," such as strong growth in jobs, incomes and the number of new households."

    "House prices are unlikely to continue rising at current rates," said Bernanke, who served on the Fed board from 2002 until June. However, he added, "a moderate cooling in the housing market, should one occur, would not be inconsistent with the economy continuing to grow at or near its potential next year."
  2. OMG!!!!ROFLMFAO!!!!

    Another clueless Bush appointee.

    Where do you guys find these idiots?

    When I was there a few years ago I was talking to a homeless Vietnam veteran who opined the US was in the middle of a housing bubble!.

    Professor Bernanke of the Princeton Economics Department had no idea!?

    No wonder the rest of the world think you're all just a bunch fuckwits.

    Too funny!
  3. Perhaps commentary is possible without "grouping" an entire nations inhabitants into one insulting unit.
  4. mokwit


    What a total idiot.

    One of the most serious financial crises ever and we have an academic buffoon, a Chimp and a brainless footballer in charge.
  5. I highly doubt BB wasn't aware of the situation. He probably said what he had to say to get the job, just like all politicians.
  6. fseitun


    I am not a big fan of Mr. Bernanke, yet the housing bubble is not the real cause of the current recession.

    The credit crunch is the main cause.

    Bernanke was just not aware of the amount of derivative products that had been built around the subprime market.

    So even if it's somehow "housing" related, an overpriced housing market cannot possibly lead to the situation we are currently in today.
  7. the US, fuckwits??

    the rest of the world saw us with a syringe stuck in our arm and kept lending us money

    you turned us into a pawn shop and now you want retail prices for the junk

    c'mon, you blokes are smarter that that, eh?
  8. They can't help, it, Infolode... it's their nature - makes them feel good about their own pathetic lives. I find it rather amusing to come on to this site periodically and read the anti-American rants. If only we could be like the rest of the world, we might just make something of ourselves. (But then again that wouldn't be possible considering we're all too stupid and backwards).