Recovery today much like 2004. They are rowing the economy in a circle. http://www.cbpp.org/files/8-30-05pov.pdf
Ah so now it's about the Federal Reserve, not about Bernanke per se. Just to get an idea how good or bad the Fed has been doing their job (mandated by congress), let's see what major global central bank has done a better job of perfectly foreseeing and handling the crisis? The "there is no credit crunch & the big danger is rampant inflation" ECB? What about the BOE (King: "No rate cuts until 2010")? Or maybe the ultimate geniuses at the BOJ? Against his peers, Bernanke and his crew IMO don't stand out in particular, neither to the up- nor downside. If congress doesn't like the Fed, why don't these idiots abolish it? If the Fed itself is indeed the problems, why do they keep wasting their time insulting Bernanke.
1. I sympathize with your situation and your anger is justified. But I believe your anger should be directed toward congress not Bernanke. He is not the one creating elaborate stimulus packages. 2. You have been reading S2007S' posts for too long . Go to forexfactory.com and view the economic calendar. Since July 31, 2008 GDP numbers have been revised upward three times and downward three times. I am not sure why you say they are never revised up. 3. Do you think any other Fed chairman would be any different?
1. No, but he's the one leaving the taxpayer on the hook for trillions in bad mortgages thanks to his mortgage buying. And I think congress sucks too, but they weren't the ones being confirmed. Banana Ben was. Congress will get theirs (I hope) in November. I am allowed to hate both Banana Ben and Congress at the same time, ya know 2. LOL! No, I've had S2007S on ignore for about 6 months now, I'm happy to say. And I should have specified that the data releases have been essentially one sided since the march 09 run up. Oddly enough. 3. That all depends on who they put in there. Hoenig would be nice. But just to oust Banana Ben would have sent a message.
When your prediction comes true, then you can say I'm wrong. My crystal ball doesn't predict the future as well as yours I guess.
1. You are entitled to hate as many people as you want LOL It certainly is bullshit that the taxpayer is on the hook for for bad mortgages thanks to the Fed, but I think the problems would be much worse if those banks were bankrupt and all confidence in the financial system was gone. In short - what Bernanke is doing sucks for the American taxpayer. But if Bernanke hadn't done those "shitty" things, the economy would be much much worse off. Unfortunately, there is no way to prove this. It is simply my personal opinion. 2. I respectfully disagree (on the revision statement, not the S2007S statement ). October 2009's release was revised from -1.0% to -0.7%. 3. What message would that send?