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Post by avordvet on Nov 3, 2011 4:20:29 GMT -5
Federal Reserve scales back projections of economy's growthThe Federal Reserve reduces its projections of growth for the U.S. economy, and Chairman Ben Bernanke says he's frustrated by the current situation but has limited options.By Jim Puzzanghera, Los Angeles Times, November 2, 2011, 5:15 p.m. Reporting from Washington- As the Federal Reserve downgraded its economic projections, Chairman Ben S. Bernanke admitted that the central bank's board was in the same distressing position as the average American family - frustrated by the slow recovery, limited in its options and largely reduced to hoping for the best. www.latimes.com/news/la-fi-bernanke-20111103,0,4661966.story?track=rss
Let the trials for Treason begin... Attachments:
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Post by Michael Downing on Nov 3, 2011 9:42:20 GMT -5
Bernanke knows he is now in a damned if he does and dammed if he does not situation. If he does nothing things will not get appreciatively better and if he does act things would likely get worse in the long run. I agree with Ron Paul that there have always been bubbles and the best way to deal with them when they look like they are going to burst is to let them run their course and naturally recover. To prop up the market only eventually leads to a bigger fall.
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