Ben Bernanke Covering up The Situation?? 8/26/2011

Posted: August 26, 2011 in Business Sector, Economy, Speech
Tags: , , , , , , ,

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As the hour Struck 10 A.M. all eyes were on the news channels and what  Ben Bernanke‘s Speech would offer insight on the future of the United States Economy.

In Bernanke Speech he discussed that the recovery was SLOWER than expected.

Why??

  • High Oil Prices.
  • Earthquake and tsunami in Japan.
  • Temporary Factors
  • Deep slump in housing market
  • A Financial Crisis immeasurable
Ben Bernanke however kept his poseur and reassured the people of the U.S. Economy, that regardless all the issues/problems, the country has not lost its competitive advantages of which will ultimately lead to our long term growth and prosperity. Ben mentioned that with America’s diverse economy, entrepreneurial culture, research capabilities and technological superiority we will defeat this.

“Although important problems certainly exist, the growth fundamentals of the United States do not appear to have been permanently altered by the shocks of the past four years,” he said.

Ben Bernanke discussed short term issues as well, and policies that have, and have not been taken to address them, of which in the end could be long term.

He noted that with such large numbers in unemployed people who of which are without work for more than six months, a figure of which now accounts for 14 million people of which are now Jobless.

“Under these unusual circumstances,” he said, “policies that promote a stronger recovery in the near term may serve long-term objectives as well.”

Personally I think that Ben Bernanke was speaking as truthful as he could on the subject. However I feel as he had to talk in more easily acceptable terms than he wanted to speak in. Ben Bernanke knows how deep the United States is in, and what was talked about was personally a cover up to help with America continue on for a little. The United States is in a hole of which is completely over our heads. As much as Job Growth may be needed others things would have to change as well. Regardless even  if gas was at $1.00 a gallon right now, it still would not get us out of this HOLE. Not only is there need to be much change on the governments behalf, but their needs to be changes on the Business Side, Bank Side, Healthcare Side, Our Side. If we do not all work as 1 in unison, we as a country will not surpass this hard time of which is on all of us.

Things to Note!

  • Why no talk of SELF employed, and how many are out of work? They are not figured into that 14 million Jobless. Like Ben said entrepreneurial culture. How do they expect America to live up to those standards if the Government taxes the shit out of them, and insurance just wants to abuse them?
  • Natural Disasters have happened generations, and generations. You cannot try to blame the fact that because of what happened in  Japan is why we are still here. We were already in over our heads before the devastation happened in Japan.
  • Gas is only gas, no matter who you are if you want to drive a V8 you still will. This is a factor to why the country is struggling but I would say it is only 5% of the puzzle

Disclosure: This is all personally opinions of this issue!! Some of the facts I stated, are not true, nor do I claim they are true.

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