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bernanke says that we might be out of the recession by the end of the year

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Captain
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Joined: Aug, 2008
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Posted: #1
Stocks up on Bernanke's report that recession will end this year and the market rally's 4%

what about his credibility? what happened to the extreme oversold conditions and sitting on multi-year support levels.

i love the celebrity-obsessed media has to continue treating us like insatiable teenagers and giving us the cliff-notes guide in life

i gotta admit that bernanke's timing is impecable for pulling this off at the right time.
 
Covers Linesmen
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Posted: #2
Well lets be honest here..

Yesterday we were at 10 plus year lows, this 3.5% move up off 10 yr lows isnt much to write home about.


 
Rookie
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Posted: #3
Quote Originally Posted by wallstreetcappers:

Well lets be honest here..

Yesterday we were at 10 plus year lows, this 3.5% move up off 10 yr lows isnt much to write home about.


exactly, still a lot more pain to come.  I have seen a number of economist view the overall economy in an L-shaped view meaning a steep drop and then 3-4 years of just bumping along the bottom.

I would necessarily disagree.  We'll probably see another -4% GDP number this quarter and smaller one next quarter but BB's comment of this years's 2009 GDP being even is a complete joke.  That would mean 4+ growth over the alst half of the year and I just don't see it.

 
Veteran
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Posted: #4
when has he EVER been right??
 
Covers Linesmen
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Posted: #5
Quote Originally Posted by rubberneck:

when has he EVER been right??


well he did say subprime issue was contained
 
All-Star
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Posted: #6
Scholar Ben has been wrong his whole tenure.  I mean, if you throw enough s--t on the wall, something's bound to stick at some time.
 
Recession being over by '09 Q4 is possible due to all the bailout packages/printing money/lowering rates/jawboning/etc.
 
But oh dear God help us all by end of '10 when inflation starts to run amok.
 
Let's face it, this current recession/depression began in '07 Q4, despite the lies being told by "the statistics."
 
Veteran
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Posted: #7
Quick and stupid question. 

So if the recession were to be "over" would that mean the economy grows in 4Q09 as compared to 4Q08?  Not really saying much.  So yes we are out of recession, but we are so far behind where we were in 2005-2008.

But maybe I am taking a more simplistic view.  If someone could educate me that'd be great. 


 
Prospect
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Joined: Jan, 2009
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Posted: #8
Bernanke inherited a mess and has done a good job so far with what he was dealt.  I see us pulling out of this mess int either the 3Q or 4Q...lets hope im right
 
Covers Linesmen
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Posted: #9
Quote Originally Posted by mrNYSEguy:

Bernanke inherited a mess and has done a good job so far with what he was dealt.  I see us pulling out of this mess int either the 3Q or 4Q...lets hope im right


zero chance...sorry

washington is making the rules now
-they are clueless
-they change their mind everyday or depending on O's polling data
-the native are getting restless
-we are broke as a country
-if china stops buying us treasuries, someone needs to hit the reset button on this whole thing and take the Fed with them
 
Rookie
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Posted: #10
Quote Originally Posted by VirginiaHoldem2:

Quick and stupid question. 

So if the recession were to be "over" would that mean the economy grows in 4Q09 as compared to 4Q08?  Not really saying much.  So yes we are out of recession, but we are so far behind where we were in 2005-2008.

But maybe I am taking a more simplistic view.  If someone could educate me that'd be great. 


No, the projection of 4th qtr in 2009 would be compared to growth in 3rd qtr of 2009.  So GDP would of 2009 be lower than 2008.

The theory has always been that big drops in GDP (over 5% down)results in one quarter would have growth in the next.  this year will learn differently.

 
 
Legend
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Joined: Jan, 2005
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Posted: #11
no disrespect Mr Nyse guy but Bernanke admitted about a month ago (along with Greenspan) that he 'botched' the 'significance' of the subprime mortgage mess.. he and greenspan get cut no slack from me or any clear -thinking person.. They (as gov't policy makers) are a BIG reason for this mess..
 
They set policy , which industries (Wall St, and Real Estate) used to Faack up the country.. Greed, Corruption, Accounting Scandals.. AIG , Madoff all followed etc..
 
Domino effect.. also.. Chris Cox and the SEC are a group of Bafoons ..
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