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Bernanke talks recession— Economic growth not likely in first 6 months
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Anonymous | 6:52 a.m. April 3, 2008
How can things possibly turn around?
Because "they always do?"
Because "they always do?"
Bob G | 6:55 a.m. April 3, 2008
How the economy comes back depends on how you want to measure it. If taxpayers
bailing out businesses and financial instutuions is cause for improvement or
whether government wants to do anything to help the consumers. While business
operate above the law and cheat and rob the consumers is not good government.
Where is government leadership? The only thing happening in the economy is non
exixtent money is getting passed around from one company to another company to
show improvement. The subprime home market is not getting any help for the home
buyers, its all going to business to bail them out. The home buyer is still
stuck with the illegal loan the lenders forced on them. The consumer has got
wind of the pitfalls of excessive credit and debt so should the business world.
Consumers are not going to keep up and maintain their current level of spending
themselves in to debt they can't recover from so all these short term bail
outs are doomed to failure again. Even in the long term. They need to get the
illegals to spend their money here instead of sending it to WalMart banks back
in mexico where it can't be traced.
Comments continue below
Charles Stewart | 8:24 a.m. April 3, 2008
I read two newspapers daily: Deseret News and the Wall Street Jounal. Both
papers had a choice of how to lead today's paper with remarks by Fed
Chairman Bernake. Bernake did not say we are in a recession. He talked about
slowing economy but not recession. The Wall Street Journal choose objestive
reporting. Unfortunately the D-News choose to spin his comments in the most
negative light. Utah has one of the best economies in the country right now.
This helps all of the citizens. But to have the leading newspaper in the State
distorting important remarks soley for the purpose of a sensationalist headline
is irresponsable. Our economy partly depends on a positive feeling of
confidence by consumers. It certainly doesn't need negative spin. It needs
objectivity and honesty. Half-truths and distortions are hallmarks of tabloids.
not newspapers. Does the D-News want to be like the Salt Lake Tabloid, er,
excuse me, Tribune or the Wall Steet Journal? Despised or trusted? Their editors
can choose.
Anonymous | 8:31 a.m. April 3, 2008
It's an end of an era in America.
The only way to make the big $$$ is defense contracts, jail construction, war, 1,000 mile-long fences on borders.
The only way to make the big $$$ is defense contracts, jail construction, war, 1,000 mile-long fences on borders.
Earl | 8:42 a.m. April 3, 2008
The words of Bernanke: "Recession is possible." The words in the
DNews: "The U.S. economy may be in recession." The article was not
written by a DNews staffer, but rather a reporter from McClatchy Newspapers.
How is either of those statements a negative "spin" on the news,
Charles? In technical terms, a recession is defined as 6 months of negative
growth. Who's to say we're not at the beginning of the recession?
We're certainly not at the beginning of a growth period, right?
What's irresponsible is to parrot the word of government officials who lost
their credibility years ago.
"leading newspaper in the state" | 10:46 a.m. April 3, 2008
LOLOLOLOLOL!!!!!!
"not in a recession"
LOLOLOLOLOLOL!!!!!
"not in a recession"
LOLOLOLOLOLOL!!!!!
Stewart | 11:22 a.m. April 3, 2008
Actually I doubt that Bernanke really knows what is going to happen next month
let alone six months from now. It seems that his predictions are nothing more
than guesses or the financial community wouldn't be in this mess.
Don't Blame Me | 12:47 p.m. April 3, 2008
I didn't vote for Bush and Cheney.
Conservatives get what they deserve.
Conservatives get what they deserve.
Thomas | 1:04 p.m. April 3, 2008
A good rule of thumb is that things are never as good as a Realtor or
stockbroker says they are, and never as bad as a wild-eyed radical (who has been
predicting the End of the American Empire, not to mention the Oppressive
Capitalist System and The World As We Know It, every year since about 1848) says
they are.
By the official definition of a recession -- two consecutive quarters of negative economic growth -- a recession has not yet been registered. However, pretty much anybody who's been paying attention recognizes that one will be before long. The only question is how long and how deep in runs.
By the official definition of a recession -- two consecutive quarters of negative economic growth -- a recession has not yet been registered. However, pretty much anybody who's been paying attention recognizes that one will be before long. The only question is how long and how deep in runs.
WSJ not arbiter of truth | 2:47 p.m. April 3, 2008
Charles,
The Wall Street Journal can spin with the best of them. I make my own decisions based on all the info I can obtain. One of the biggest con jobs in history is taking place right now.
The Wall Street Journal can spin with the best of them. I make my own decisions based on all the info I can obtain. One of the biggest con jobs in history is taking place right now.
Anonymous | 3:02 p.m. April 3, 2008
Thomas -
Why not give that speech to the La-Z-Boy people who just got the axe and don't know what they are going to do next.
Why not give that speech to the La-Z-Boy people who just got the axe and don't know what they are going to do next.
Spending | 3:23 p.m. April 3, 2008
I'm not the most fiscally conservative person in the world. But, I believe
the price of products are too high, and I don't plan on purchasing anything
major over the next 6 months. Recession!! My willingness to spend has
stagnated! I'm glad it's summer, I need to find a way to reduce my
petrol consumption. My government stimulation check is going into savings. And
this economy has been in the making LONG before Bush became president! Raise my
taxes so I spend less. You go Democrats!
Thomas | 3:41 p.m. April 3, 2008
Anon --
So are you saying any time a factory closes down, we have to declare a recession?
By that logic, every single quarter is recessionary.
So are you saying any time a factory closes down, we have to declare a recession?
By that logic, every single quarter is recessionary.
To the Recession Rangers | 4:37 p.m. April 3, 2008
Thomas,
What is it with the folks who are hung up on the technical definition of a recession?
With your approval, perhaps we can pick another word or phrase to focus on.
Downturn
Bad Economy
Underwater on my house
Can't sell my house
Eggs, Meat, Wheat, Gas thru the roof
I got walked out of my building today
Layoffs
Job Cuts
Dollar losing value
Systemic Risk
If I get fired, can I pull the "But We Aren't TECHNICALLY in a recession" monopoly card out of my wallet, and keep my job?
What is it with the folks who are hung up on the technical definition of a recession?
With your approval, perhaps we can pick another word or phrase to focus on.
Downturn
Bad Economy
Underwater on my house
Can't sell my house
Eggs, Meat, Wheat, Gas thru the roof
I got walked out of my building today
Layoffs
Job Cuts
Dollar losing value
Systemic Risk
If I get fired, can I pull the "But We Aren't TECHNICALLY in a recession" monopoly card out of my wallet, and keep my job?
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Ben Bernanke
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These things will work into a self-reinforcing spiral.
It's a good time to get out of debt while you can.