Well it looks like the recession is over or at least heading in that direction. Apparently there is no need to worry about a deeper recession and certainly not a Depression. We are out of the woods. Never mind the trillions of dollars of debt we have incurred over the past year as a country. Let’s just forget about the fact that companies all over the country are still closing their doors, unemployment continues to rise, and foreclosures are at an all time high. Forget about all that, we are safe! We are now moving towards more prosperity and better times. Well, of course, that is if you believe our Fed Chairman Ben Bernanke. If you believe the Washington Zealots and the special interests groups that helped put us in our current situation.
At a speech at the annual Fed conference (I wonder how much that cost us tax payers?!?) Bernanke says we are now “leveling out.” We are now seeing signs that growth is in the near future. On the surface this looks like great news. To the lay person this would give hope and reduce the pain and stress they have been enduring since the economy collapsed, but ask yourself this: is this type of news going to help or hurt our country in the near future? If people think we really are getting out of this economic disaster and the truth comes out that it’s still getting worse, could this actually hurt us more than help? What if the recession isn’t over, but that down the road we will experience hyper-inflation, further unemployment and a complete collapse of our dollar? If he is wrong, which I believe he is, couldn’t this further hurt the citizens of the Republic? If people believe good times are coming, is it reasonable to believe that they will lower their guard and not save, conserve and be frugal with their money and their spending habits? With these types of lies, could Ben Bernanke and our government be risking each citizen’s ability to prepare for an even worse economic disaster?
If you believe that this type of false information could further cripple the economy how can you help? How can you as an individual help and how can you structure your business to assist people in the future?
In the article, linked below, Bernanke gives no examples or evidence that the economy is on the rebound. He seems to forget that states like California and Michigan are virtually bankrupt. He seems to have amnesia about the idea that we have incurred trillions and trillions of dollars of debt just in the past 8 months. It also appears as though his brain cannot rationalize the dominion effect that results from business shutting down, employees being laid off and property being foreclosed. With less businesses operating, there will be less workers working causing more homes to be foreclosed. With this perpetual cycle showing no signs of restraint, do you honestly believe our Fed Chairman is telling the truth? As a quick side note, think about the impact Cap and Trade and adding 47 million more people to our health care system will have on our debt and our economy. With this administration it seems like they do and believe the opposite of what they say. Do you think these comments might be a distraction in order to boost the Obama Administrations objectives and popularity in the public?
http://www.foxnews.com/politics/2009/08/21/bernanke-economy-cusp-recovery/
