When bureaucrats actually start admitting a degree of truth, its time to be concerned. Most realize that the US is already in recession, of course, its difficult to prove when no one can use the warped and manipulated government statistics to gauge the actual state of objective reality. But the recession theory gained more credibility when the gang of two (Bernanke & Paulson) openly admit that things may not be so good...
Is it just me or does anyone else want to slap that smug look off of Bernanke's face. At least Paulson looks concerned. This maniac counterfeiter (aka Bernanke) is dangerous to the long term health of our country.... Why do you say that? Does he not have a degree from MIT? Isn't he a brilliant man with impeccable credentials who has published vast research on the causes of recessions and depressions? He must know how to manage an economy.... That is exactly what makes him dangerous. He believes in his theories too much. Theories that run counter to basic economic principles that have stood the test of time. It is not difficult to imagine what he is thinking -- how can I reinflate the economy and re-engineer what will become the next bubble??? How can I print more counterfeit money so that the government can spend more. How can I appease my masters in Washington DC.... Backbone is more important than a degree from MIT when it comes to managing the economy, and Bernanke has none. He is a short term thinker working within a flawed monetary system. At least knowing this makes it easy to predict what will happen....
Even Greenspan, the man who started the most recent bubble cycle, says the US is on the verge of recession:
The recession has already begun.... lets exploit the effects and prepare for the next bubble. --John Bardacino