Mighty Ben Bernanke praying for a solution again

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As clueless as Bernanke has been, if you follow what he says closely, on occasion you will see his own admission that the U.S. is either in a depression or is certainly headed for one.

For instance, on Tuesday November 30, 2010, as Bernanke attempted to defend his recent decision to buy $600 billion of U.S. Treasuries

"There are obviously very severe economic and social consequences from this level of unemployment," so getting new jobs, getting unemployment down is of an incredible importance."

“The unemployment rate is still going to be high for a while, and that means that a lot of people are going to be under financial stress.”

Recently, Bernanke predicted unemployment will remain high for "four or five years."

 

[Dreamer1]

Bernanke is not clueless,not at all.
The real clueless one is world hero,Alan Greenspan,who singlehandly created the greatest bubble in US banks.

 

[ps07857]

you are absolutely right, Greenspan allowed the lowering of interest free loans in such magnitude and the best thing is that he retired right before the bubble burst!