Recession is over – so says Federal Reserve chairman Ben Bernanke. I wonder if he thinks saying that will stop Congress demanding an audit of the Fed?
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Thanks mr. bernanke…..I feel SOOOOOOOOOOOOO much more confident hearing that YOU think the problem is over.
Mmhmm… I’ll believe it when I can find a job in the private sector– or at least just an interview, even.
Just saw a news headline that Barney Frank is forbidding Goldman Sach’s lobbyist from talking to House members…. the times they are changin’
Last year, when things fell apart the US Dollar was rapidly losing value – at the worst, it was to the point it took $1.48 to buy one Euro. Today, the dollar was back down to $1.47 to buy a Euro, which is why gold is going up. If the decline in the dollar continues (because of low interest rates and monetizing the government debt), all hell breaks loose again – this time there may not be a global intervention to stop it – people have had a year to move their money around.
(US/EU rates are usually stated as US$ per Euro, which makes things sound backwards – when the dollar loses value, the “rate” goes up)