Bernanke BS'ing everyone?

[lookitsbryan]

http://www.washingtontimes.com/apps/pbcs.dll/article?AID=/20080229/BUSINESS/146647005/1001

The chairman of the Fed made a statement just last week stating that there will be bank failures, but still maintains that the recession is avoidable. How does everyone feel? Is the recession inevitable? The way i see it is that Bernanke is just sugarcoating the truth because he wants to avoid raising more concern in the public's eyes.

[donniesd]

Only way to avoid it is the gov need to stop printing more money. The value of the dollar is why we are IN a recession.

[lookitsbryan]

Only way to avoid it is the gov need to stop printing more money. The value of the dollar is why we are IN a recession.

agreed. I don't think the stimulus package is going to help either. It's basically a way for Bush to say "i tried" when the mass shifts the blame to him for the recession.

[donniesd]

agreed. I don't think the stimulus package is going to help either. It's basically a way for Bush to say "i tried" when the mass shifts the blame to him for the recession.

Yep. And the point if it is to get people to spend. I know i wont spend it. I will be saving it.

[axio]

Only way to avoid it is the gov need to stop printing more money. The value of the dollar is why we are IN a recession.If anything, printing more money would HELP during a credit crunch. But doing that will cause inflation, and the FED has been trying to keep inflation low since the '40s. We actually aren't in a recession, people bandy that phrase around too loosely without knowing what it means. We are in an economic downturn, which is normal. It happens. Once the credit crunch is over and the stock market adjusts to it things will start climbing again.