Sunday, January 3, 2010
Jobs in December? Is Bernanke FINALLY right?
Bernanke is insisting that low interest rates did not create the bubble. At this point, I'm curious. Is there anyone out who still takes this guy seriously? This guy has no clue. In early 2008, he said that there would be no recession. The same guy who had no clue that this thing was coming is going to be the same guy who going to tell us what caused it. And he's saying that it's likely over.
People have been sending me e-mails on the possibility that there could be job growth in December. First of all, I've always said that in an economy, nothing ever goes straight up or straight down. Bear markets have rallies and sales sometimes increase. What's important is the overall trend. Does tens of thousands of people working $8/hour during the holiday season equate to an economic recovery?
Jobs in December?
Low rates didn't cause bubble, Bernanke says
Bernanke Sees No Recession, but Big Challenge
Bernanke: Recession 'Likely Over'