What’s Next, ‘Recovery Winter’???
Bernanke Leaving Interest Rates At Zero
By Dell Hill
back to the Summer of 2010? And again this past Summer, when President
Barack Obama sent his Vice President gallivanting around the country to
celebrate “Recovery Summer”??
was that poor sap - the walking gaffe machine - traipsing around from
one union hall to another, touting his master’s golden touch on an
economy that was lower than whale poop.
most certainly wasn’t a “Recovery Summer” in 2010 and things weren’t
any better this past year, no matter what the lying Democrats tell you.
and when we DO have an economic recovery, it will be reflected in two
very critical numbers. 1) The unemployment rate will drop below 6%
and, 2) Federal Interest rates will start to climb. According to the
latest news from Ben Bernanke, we should expect to start that recovery
celebration for perhaps another two years...probably three.
The doom and gloom comes from Fox Business Report.
“In an effort to support the anemic economic recovery, Ben Bernanke’s Federal Reserve
is reportedly poised to keep interest rates at virtually zero into 2014
-- nearly six years after slashing them to record lows during the
According to The Wall Street Journal,
Fed officials have become increasingly uncomfortable with their pledge
in August to keep interest rates exceptionally low at least through
mid-2013 because some believe economic conditions -- low inflation and
high unemployment -- could call for easy-money policies to last longer.
report underscores the disappointing nature of the economic recovery,
which has failed to create enough jobs to bring the unemployment rate to
acceptable levels. Data released this week show that U.S. gross
domestic product grew at just 1.8% in the third quarter.
As part of an overhaul of its communications strategy, the Fed
is likely in January to stop predicting a fixed date for rate increases
and instead may signal its intent through a range of forecasts along
with its quarterly economic outlook, the Journal reported.
Fed began cutting interest rates in 2007 amid signs the economy was
slowing and the housing market was under severe stress. Then the
central bank axed rates to near zero in December 2008 and later
unleashed a pair of bond-buying exercises aimed at bringing down
long-term rates even further.
economists worry the easy-money policies will spark a painful bout of
inflation, but the Fed has said it is also concerned about the slow
economy creating a deflationary spiral that is very tough to escape.”
Dell’s Bottom Line:
weeks revelation that the new housing sales figures for the past seven
years were, in fact, grossly over-reported is bound to have an
additional negative effect. At the moment, I have very little
confidence in ANY numbers that are published by ANY Obama administration
agency. We seem to be experiencing a steady stream of “adjusted”
and/or “corrected” figures. Adjustments and corrections that paint a
far worse condition than the original reports.
Is there any way to re-float this sinking ship?
there is. Elect a president who will immediately offer an austere, but
manageable budget, instantly repeal every regulation issued over the
past three years plus, and sign legislation into law which will inspire
private enterprise to flourish once again.
Majority Leader Harry Reid has 25 such pieces of legislation - already
passed by the House of Representatives - sitting on his desk. He
refuses to even put ANY of them on the floor of the Senate, thus
following the explicit instructions of his President.
this Congress is adjourned, all 25 of those bills will die right where
they sit - collecting dust on Harry Reid’s desk - which makes control of
the Senate as important as the Presidential election next November.
Mr. President, YOU LIE!