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Bernanke's optimism tempered by reality of gradual recovery

From Wednesday's Globe and Mail

U.S. central banker cautions economic activity will remain below normal ...Read the full article

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  1. HeartOf Gold from Canada writes: Translation;

    Q. Are we at THE bottom yet?

    A. We are at 'A' bottom, but Not 'THE' Bottom.

    'THE' Bottom will probably take another 5 years... :(
  2. Dick Garneau from Canada writes: Why would we want to 'get banks lending more freely again to people and businesses' when this was part of the cause of our current situation.

    Greed, immorality and unbridaled lending and borrowing is the problem.
    .
  3. Silver Standard (We need Tariffs and an end to Globalism) from Canada writes: I agree witht eh first 2 posters but unless we see a new government that works for us, an end to globalism, and a return to sound money principles we will never have a real recovery, just a further decent in to 3rd world status.
  4. Fractional Reserve Banking from Canada writes: Dick Garneau from Canada writes: Why would we want to 'get banks lending more freely again to people and businesses' when this was part of the cause of our current situation.
    _____________

    Because money is debt.
    Without debt, there can be no new money.

    This entire situation is dependent on consumers. We must begin to borrow again, or no new money can be created.
    Quite simple really.
  5. Auroran Bear from Montreal, Canada writes: For the love of God Ben, STFU...just measure the results as they happen.
  6. Anarandan Ananda from Vancouver, Canada writes: Then Federal Reserve and their Canadian counterpart are doing a public perception management. He is lying again. Anyone that believes him or any bankster is out of their mind. The Feds are printing money and bailing out the banksters. Get a grip. Roubine has said that there is no free lunch nor recovery soon.
    You can fool some people some of the time but not all people all the time.
  7. Ron MacGillivray from Flatbush, ab, Canada writes: Instead of just printing money and handing it out to the banks so that they lend it out to us so that we can get deeper into debt thereby allowing the assorted lending agencies to charge us high rates, why don`they just give us the money in the first place, zap it into our bank accounts, free money that will enable us to go on a spending spree which will get the economy out of its current funk.
  8. Dick Dupa from Canada writes: Never I have expected that PROPAGANDA will rule in capitalism.
    But it is a very powerful tool, make no mistake.
  9. E B from Canada writes: Mr. Smoke and Mirrors, not unlike our Mr. Smoke and Mirrors.
  10. R. Carriere from Maritimes, Canada writes:

    'Mr. Bernanke didn't provide details about how 19 large banks fared on “stress tests...'

    By RICHARDSON and ROUBINI

    The results of the government's stress tests on banks, to be released in a few days, will not mark the beginning of the end of the financial crisis.

    ...The results will show that there might be a few problems at some of the regional banks and Citigroup and Bank of America may need some more capital if things get worse. But the overall message is that the sector is in pretty good shape.

    This would be good news if it were credible. But the IMF has just released a study of estimated losses on U.S. loans and securities.

    It was very bleak -- $2.7 trillion, double the estimated losses of six months ago. Our estimates are even higher, at $3.6 trillion, implying that the financial system is currently near insolvency in the aggregate.

    With the U.S. banks and broker-dealers accounting for more than half these losses there is a huge disconnect between these estimated losses and the regulators' conclusions.

    http://online.wsj.com/article/SB124147831175584985.html#mod=djemEditorialPage
    .
  11. The Natrix from Toronto, Canada writes: Economic growth but continued significant job losses?

    huh? I'll borrow on my credit cards and line of credit and book that as income growth!!
  12. Right Winger from Canada writes: All the big brains posting here are right...this recession will go on forever!! With no end in sight, no light at the end of the tunnel, no hope for any of us. The sky will fall, and bring 75% unemployment. We have no hope. Poor us.
    This is true, for we have the brightest financial minds in the world today posting at the G&M, and they say so.
    Now I have to go and unload my portfolio. Another financial genius posted here the other day that the TSX will be dropping to 6000 soon.
    It's time to SELL SELL SELL!!!!!
    Only Iggy can save us...
  13. E B from Canada writes: Right winger, you are swimming in a pond full of crocodiles but are happy to be told that all is well. Watch your derrière ........
  14. nitro meyi from toronto, Canada writes: to the posters here...europe just revised their unemployment to hit 20.6%...latin american countries are revising to 15%....spain revised to 15%....and canada revised to ...? 7.8%....so i guess this is a sign that bottom is kind of here....but I guess every poster here wants an Argentina 1999-2001 scenario so they can come back o line and type 'told you so'!!
  15. paulo the seer from waterloo, Canada writes:
    Dow 4000.
    Ya been suckered.
    Pump and dump.

    Where is Jack Welch when we need him?
    Where is that fine fellow who is in the process of turning around Nortel?
    Where is Mr Nardelli.
    We need your fine minds and steady hands on the tiller.
  16. Doctor Demento from Canada writes: “We continue to expect economic activity to bottom out, then to turn up later this year,” he told lawmakers.

    Isn't that what he was saying last year . . . ?
  17. O Perdana from Canada writes: Adrian Salbuchi on economic collapse:
    http://www.youtube.com/watch?v=UlDNMB6wYmI&feature=PlayList&p=D413EAAC312AF31A&index=0&playnext=1
  18. Joel Banks from Halifax, Canada writes: Bernanke spins again.
    He did not see the recession ahead: he did not fear the downsides of cheap money, overpriced houses, and real estate inflation. Now, masquerading as a wise man, he spots 'recovery.' True to dissembling, heartless character, however, he is ocmfortable with a scenario, in which mass unemployment coexists with rcovery for unethical bankers, unethical stock market traders, and greedy realtors. Why does Bernanke and his Bank of Canada clone not have passion for the plight of savers and the unemployed, matching their zeal for propping up inflated house prices and bank shares?
  19. John Connor from Canada writes: Nice suit.
  20. Donald I from Victoria, Canada writes: FORTUNE TELLER!

    Helicopter Ben really should join the circus with his crystal ball!

    This current economic calamity is comparable to the Great Depression in happenstance only, where the market took 33 months to find it's bottom. In scope this depression has the previous one beaten hands down. Those that believe the recovery is just around the corner and that Benny is doing such a good job - write your letters to Santa early this year! Ask for new glasses, the ones you have on now have too much rosey tint on them! Wake up!
  21. Don Quixote from the moist warming Blackfly Belt, Ont., Canada writes: Thank you Ben, that should give the markets a lift for a couple hours to a day....
  22. Kat Wilson from Canada writes: Uh, sure Ben. There's nothing to indicate this is true, but when did reality every get in your way?
  23. Sassy Lassie from Canada writes: Bad news for the Liberal Party, they are counting on said crisis to get elected. Oh well they still have two policy winners such as expanding the CHRC mandate to absolute total power and their second policy of a implimenting a carbon tax. Yep the liberals will tax us for breathing, and if we breathe to often they can haul us before the CHRC for being in violation of their breathing act.
  24. Neil Garret from Canada writes: After winning on the blatant lie that this was as bad as the GREAT DEPRESSION - now the Messiah wants us to believe that his reckless deficit spending has fixed the problem in 4 months?
    He is a Chicago crook.
  25. Right Winger from Canada writes: E B
    ************************************
    Aw, c'mon EB, why the hostility? I'm listening to you and not those so-called 'Experts' that I see on the news and BNN.
    And why should I listen to my neighbor that sold more houses in the past 45 days than she did in the previous 6 months, or my buddy that had one of his best months ever selling Nissan cars when I have you telling us it isn't so?
    My derrière will be fine as long as I take all my financial advise from the experts that post on an internet blog.
    Smooth sailing for me!!
    Now tell me...Suncor...should I keep it or sell it? I have my broker on speed dial waiting for your advise.
  26. Man of La Mancha from Canada writes: Right winger - don't worry, everything is fine. Capitalism is the answer - we'll just continue doing business the way we always have and the problems will fix themselves.
  27. Another drink will do me good from Canada writes: I guess this is his 'Mission Accomplished' banner.
  28. Right Winger from Canada writes: Man of La Mancha
    ***********************************
    No, everything is not fine. Not now, not ever. Haven't you been paying attention?
    This depression will go on for another 20 years, at least.
    We have no hope. We're doomed for eternity. Or until Iggy get's elected, whichever comes first.
  29. paulo the seer from waterloo, Canada writes:
    Lassie/Garret/Ringer.

    The nail scraping desperation is too loud.

    They're gonna take our guns!
    It's Obama's fault!
    It's all gonnna be alright .... my neighbour sold a house/nissan.

    Get your teabags out.

    Palin 2012
  30. m y from Canada writes: bernanke is high on drugs.

    federal reserve = irrelevant
    bernanke = irrelevant bureaucrat
    usa = irrelevant
  31. CallofDuty . from Canada writes: oh brother...anytime this guy says something...the opposite happens.
  32. Michael Maher from Canada writes: Do the Liberanos know about this?? Any sign of an economic recovery will not suit their needs. They're hedging all their hopes and dreams (electoral victory) on the misery and doom and gloom.
  33. Robert MacDonald from Canada writes: Bernanke is out of touch with reality
  34. J M from Calgaristan, Canada writes: Right Winger from Canada writes: E B
    **********************************
    blah...blah...blah...

    Now tell me...Suncor...should I keep it or sell it? I have my broker on speed dial waiting for your advise.

    Advise?
    Perhaps you should have someone with a dictionary on speed dial. Then again neocons don't worry about them darn things.
  35. Shawn Bull from Canada writes: Good to hear. This recession did not even come close to the recession of 1981.
  36. J. Kenneth Yurchuk from Toronto, Canada writes: One thing Bernanke said is quite true. Unemployment will remain stubbornly high even as the stock markets recover and economic activity begins to grow.

    The pessimists in the crowd seem to think the road into the abyss is straight down. Nope. Plenty of twists and curves and some ups and downs.

    We're in an upturn on the markets now, recovery for Wall Street and Bay Street. For Main Street, not so much.

    The current bull market will last around 18 months, but TSX will peak well below the 15000 mark of last year. Then inflation will rear up, and the central banks will raise interest rates to 8% or higher to try and stave off hyperinflation, maybe successfully maybe not, but nevertheless it will kill the bull, and we'll be into phase two of a double dip recession.

    We're in the beginning phase of a secular bear, folks, lasting for more than a decade. There will be ups and downs in that span, but the highs won't be as high and the lows will be lower.
  37. J. Kenneth Yurchuk from Toronto, Canada writes: J. M, you should have bought Suncor a month ago. Still not too late. But stay nimble. Buy and Hold is not such a great plan right now.
  38. Butler Bear from Calgary, AB, Canada writes: Let's see, copper prices are rising, energy costs are rising..pillars of the real economy...demand increasing, though marginally.

    If you're all such brilliant economists..why are you all working for a living ?
  39. Decidedly Libra from Canada writes: YeaH you have to love the economists who have posted here. They read like the ones who failed macro-economics 101. Must be Iggy fans who worship at the alter of continued recession inthe hopes that all Canadians will suffer. Sorry, but I and many other Canadians prefer to be optimists especially in the face of greater evidence that our economy is getting stronger. The Liberals - not fit to govern, not fit to be a Party!!!!
  40. Louis Elias from Canada writes: Is this guy for real??? Just shut up already....every time he opens his yap....he is wrong!!
  41. Raging Squirrel from Toronto, Canada writes: They have ALL been wrong about the global economy so far. WHY should we believe them now? This is nothing more then wishful thinking.
  42. Slumdog ArtsGraduate from Canada writes: Oh yeah, Mr. Hoover?
  43. m y from Canada writes: J. Kenneth Yurchuk:

    I agree with your analysis....a double dip...a LONG double dip...

    as i commented before, this a suckers rally....i would not invest in anything except tangibles (commodities).

    there is no trust nor integrity in anything else....accounting tricks abound ever since they adjusted the fair value methodology. Mark to market was the only thing that kept these companies honest and now they've shelved that.

    i wouldn't trust any financial business - all lies.

    people should start trading down their real estate too....like cars, homes are NOT assets, they're liabilities and you should only have so much you can afford and enjoy.
  44. Louis Elias from Canada writes: Decidedly Libra from Canada writes: YeaH you have to love the economists who have posted here. They read like the ones who failed macro-economics 101. Must be Iggy fans who worship at the alter of continued recession inthe hopes that all Canadians will suffer. Sorry, but I and many other Canadians prefer to be optimists especially in the face of greater evidence that our economy is getting stronger. The Liberals - not fit to govern, not fit to be a Party!!!!
    -------------------
    There is a difference between optimism and naivete.
  45. Captain Yosemite Sam from Canada writes: Lies, lies, and more lies. The Globe's headline for this story is misleading if you read the full text. I think the G & M writer believes this load of cr@p.
  46. Comments closed, censored, hidden, deleted, disappeared from Peso-onie land, Canada writes: Better hold on to what you have. --- Too many are coveting it all, these days, and will be coveting it all for quite a long time to come. -- Better not believe those who got us where we are now crawling in the first place! They have shown what they were capable of, with more to come. You can count on that!
  47. Hunkered down in the land of never ending promises from Canada writes: Bernanke... Canada's Jeff Rubin.
  48. J. Kenneth Yurchuk from Canada writes: m y, you missed my point. This isn't a sucker rally, it is the beginning of a legitimate Bull market. But it will be short by historical standards maybe 18 months instead of the normal three or four years, and it will fail to set new highs. The LONG term trend will be down for many years to come, but bull phases like this will be chances to make money for the nimble.

    Not a time for buy and hold proponants but not all bleak either. Have a plan, set a goal, and most importantly set stop loss targets and stick to them.
  49. Dick Dupa from Canada writes: So according to federal 'apparatchik' recession loses steam?
    Tell me that UE goes down and people go back and are able to find decent jobs, than I will start to believe you make any sense.
  50. paulo the seer from waterloo, Canada writes:
    I see some are still thinking that price and wealth are synonymous.
    The fools, the fools.
    Brokers need more fools like that.

    You gotta be nimble!
  51. Hunkered down in the land of never ending promises from Canada writes: My bad. I meant Bernanke....America's Jeff Rubin. But unless you know who Jeff Rubin is and what he is famous for ($200 bbl of oil by 2010) then the comment doesn't have much worth. Much like treasury bills I guess.
  52. Peter North from van, Canada writes: take his close up off the front page, please.

    shouldnt front page close ups only be used for presidents, terrorists, and cute kids singing at the olympics?
  53. Dakota _ from Canada writes: According to Liberal party logic, the global recession was caused by Harper. Does that then mean that any global recovery will also be caused by Harper?

    Wow, I hadn't realized how powerful and influential our PM is!

    Long Live the most powerful man on the planet!
  54. J. Kenneth Yurchuk from Canada writes: Check this out.

    http://www.gettingtechnicalinfo.blogspot.com/
  55. J S from Canada writes: Why don't we ask people who actually saw this mess coming (i.e. Robert Shiller) what may happen over this year and next?
  56. Brian Pelican from Denver, United States writes: Ron MacGillivray from Flatbush, ab, Canada writes: Instead of just printing money and handing it out to the banks so that they lend it out to us
    \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\

    Who, pray, is the 'us'?
  57. Cynical Optimist from Canmore, Canada writes: What a bunch of pessimists. The guy is just doing his job. I trust his projections better than your's. He may not always be right but you guys are only right twice a day(as in stopped clock). Things are getting better or at least not as bad. We are not going to hell in a handbasket.
  58. paulo the seer from waterloo, Canada writes:
    http://www.gettingtechnicalinfo.blogspot.com/
    LOL
    There's a pattern there!
    Reading tea leafs.

    We need suckers to sell to.
    Gotta get commission.

    Gotta be nimble!
  59. Doctor Demento from Canada writes: Shawn Bull from Canada writes 'This recession did not even come close to the recession of 1981.'

    Really - how so? The recession of 1981 lasted 14 months. The current recession is already 16 months long , with no signs of ending soon and with a far greater drop in GDP than in 1981 . . .
  60. Chris Halford from Ottawa, Canada writes: Maybe. Warren Buffett is willing to venture a guess as to when things will recover, however, and I am more inclined to believe his opinions.
  61. Chris Halford from Ottawa, Canada writes: Dakota _ from Canada writes: According to Liberal party logic, the global recession was caused by Harper. Does that then mean that any global recovery will also be caused by Harper?

    Wow, I hadn't realized how powerful and influential our PM is!

    Long Live the most powerful man on the planet!

    ** The Liberals did not say that Harper caused the worldwide financial crash. They did say, correctly, that he and Flaherty did nothing to help Canadians deal with it. Harper did of course empty the federal coffers which made it difficult to use the cash flow from a surplus to help stimulate the economy. He did nothing to cause it and has done next to nothing to deal with it.
  62. Chris Halford from Ottawa, Canada writes: I should have said'

    'Warren Buffett is not willing to venture a guess as to when things will recover, however, and I am more inclined to believe his opinions.'
  63. The Angry Left from Canada writes: 'But Mr. Bernanke didn't say the Fed would release the identity of borrowers, something lawmakers have pushed for.'
    _____________________________________
    >Sounds to me like the government is handing out money to a secrtet cabal. We know who they are, Goldman Sachs. They need to be able to cook their books to generate the appearance of profits so they can get busy financing the dwindling U.S. industrial base to pack up and ship off to China.
    Then award themselves more than a hundred average wage-earner's wage for their genius at having done so. It's all very mysterious and in our best interest. It takes the very best talent in the world, and that talent needs to be compensated. They're entitled to their entitlements, after all.
  64. RS IslandReader from Canada writes: What a genius. My saved money is down and being eaten by inflation. Let’s hear more lies.

    To my thinking, The Little Book of Bull Moves in Bear Markets by Peter Schiff shines some light on the subject.
  65. The Angry Left from Canada writes: Who can finance the complete and total gutting of the largest economy ever created the fastest???!!! Who ever can, gets $10 million, yeehaww!!! GOLDMAN SACHS!!!
  66. Chris Halford from Ottawa, Canada writes: Cynical Optimist from Canmore, Canada writes: What a bunch of pessimists. The guy is just doing his job. I trust his projections better than your's. He may not always be right but you guys are only right twice a day(as in stopped clock). Things are getting better or at least not as bad. We are not going to hell in a handbasket.

    ** I am not saying that we're going to hell in a handbasket. I am challenging predictions that are made for political purposes or to try to buoy up nervous markets. Business as usual is not what is required, the underlying weaknesses in financial regulation have to be addressed so that we can have a sustainable recovry not haunted by the possibility that we might get torpedoed again by another bunch of greedy illegitimate people.
  67. kevin o'connor from Canada writes: So the economy in 2009 is going to be much like the Maple Leafs in the last hockey season: No longer getting rapidly worse. Fantastic.
  68. The Angry Left from Canada writes: Willing to take bets on how many years it will take for U.S.A. to re-institutionalized some form of indentured labour/slavery. Oh wait, prison-industrial complex, forget about that. I wanted to turn it into a derivative and award myself a few millions. If I lend money I don't have to all my neighbors and they don't pay me back, can I be bailed-out for, lets say $10 billion. I promise to stimulate the economy. No, I have to work for Goldman Sachs to do that. Drats!
  69. J M M from Canada writes: Expect the NDP and Liberals hate this report--they take great glee in Canada's recession so that they can keep bashing Harper. Ignartieff could care less for Canada any way.He wants to be PM only to impress his wealthy American pals. The last quarter of 2009 will show a slow recovery in Canada thanks to the government of the day(so there!)
  70. Hockey Guy from Canada writes: Why does this remind me of 'Peace in our time' spoken by Neville Chamberlain ...
  71. Mike Glatt from Canada writes: To decidely Libra: nothing wrong with being an optimist as long as you are also a realist. Compare what's going on in the economy to a person who has $25,000 in debt, no ability to borrow and no rich uncle to pay the debt and to make matters worse the prospect that he or she may loose their jobs. Is the debt going to go away quickly or are we in for a long slow grind back to prosperity. I opt for the slow grind with major bumps along the way. Don't forget the consumption etc of the last 10 years was somewhat fake given that it was financed with easy credit.
    The banks and consumers are far away from being sound and god help everyone who holds real estate if interest rates ratchet up because of inflation.
  72. Michael S from Canada writes: Isn't it a little premature to claim recession over this year? Does he have a history of prematurity? We should ask his wife...
  73. Jason S from Windsor, Canada writes: Rahm Emanuel AND Hillary Clinton both said 'never let a good crisis go to waste' referring to the financial meltdown. Why would they say such a thing? Because in crisis people are afraid and look to government for answers. A political science professor at EconoChristian.com said that 'governments use crises to push their agendas.'
  74. Hee Hoo Sai from Canada writes: Attention news mongers, despite the headlines it tends to accumulate, 'Peace in Our time' Mission Accomplished' and 'Recession over' are worth precisely the same as 'Wash' 'Spin' and 'Rinse' Words convey ideas, things exist even when not name spun. Peace, victory and end of the depression are still more real than the articles describing them.
  75. Shawn Bull from Canada writes: Doctor Demento from Canada writes: Shawn Bull from Canada writes 'This recession did not even come close to the recession of 1981.'

    Really - how so? The recession of 1981 lasted 14 months. The current recession is already 16 months long , with no signs of ending soon and with a far greater drop in GDP than in 1981 . .
    ----------------------
    I was referring more to the depth of the 1981 recession. This recession is global but has not been necessarily deep in Canada. In 1981 the interest rates hit 22.5% and people were walking away from their houses. The real estate and auto markets collapsed and unemployment reached double digits.

    This recession in Canada hasn't been as deep. I think by this time next year the worst of the recession will have long passed.
  76. The Angry Left from Canada writes: Shawn Bull from Canada writes: This recession in Canada hasn't been as deep. I think by this time next year the worst of the recession will have long passed.
    __________________________________________
    >Shawn Bull, for once in my life, I wish I could believe you were right. But I don't.
  77. gilles monenemie from Canada writes: Mission accomplished!
  78. Island Man from Victoria from Canada writes: I guess Carney will come out now with another revised prediction. And Flaherty will continue to say 'It's Not My Fault'

    What a couple of Bozos
  79. J. Kenneth Yurchuk from Toronto, Canada writes: Shawn Bull, the inflationary phse is yet to come with an abbreviated Bull in between. Double dip, coming up.
  80. Joel Banks from Halifax, Canada writes: To Right Winger:

    Your friend sold a bundle of houses recently. No surprise, if you think a little. After all, the central bank sacrificed prudent, humble savers and people on small fixed incomes to enable low priced mortgages for high flyers in certain sectors who are lucky enough to have a job. What happens when the supply of savers and savings falls to zero? Whom will the Bernanke group decide to savage in order to preserve the marriage of cheap money and real estate inflation, their substitute for robust manufacturing and quality services?

    Shades of Weimar Germany are gathering.
  81. Ralph Klown from Canada writes: Good. Now we can get back to perpetual growth in a finite resource base. Everything should be fine.
  82. Being Canadian from Canada writes: Um, sure ok? There is no real evidence of this, but sure, I'll buy what you're selling Bernake.
    Oh wait, I actually have a critical mind, so um...go sell your do-do somewhere else, I'm not buying, you silly little man. And shave the beard.
  83. Doctor Demento from Canada writes: Shawn Bull from Canada writes 'This recession is global but has not been necessarily deep in Canada.'

    You can thank Paul Martin and Jean Chretien for that by putting Canada on a sound fiscal footing before spendthrift Harper took the reins . . .
  84. Tor Hill Sask. from Canada writes: Agreed, infinite growth objectives is a disaster. Back to 'normal' sooner than later? We'll still have to deal with the fiscal aftermath, sooner or later.
  85. Mike from Van from Canada writes: I'm no economist, but I'm surprised that no-one has commented on the fact that the U.S. is still living in financial la-la land, with an empty suit president who doesn't have the balls to tell his constituents that their taxes are going to have to go way, way up to pay for the mess they've got themselves and apparently the rest of the world into.
  86. Bang the Drum from Toronto, Canada writes: It is time to loudly oppose this assumption that our economy should be constantly growing. Nothing in nature constantly grows and remains healthy. At the cellular level, it's cancer. At the population level, it becomes resource scarcity. What we need is levelness and stability. We need to reorient the economy to suit our needs, rather than we to its. The tail is wagging the dog. As a policy, endless economic growth has performed extremely poorly at ending poverty, in fact, it has done exactly the opposite. We need to stand back from stock market panic and realize that we have the resources we need to live today, if they are distributed fairly. But our economies and our populations and our demands for consumer goods cannot grow indefinitely. That is plain to see for anyone who cares to look.
  87. russell olausen from edmonton, Canada writes: This downturn may have been about stripping assets, of people, who the money masters felt had to much of.The U.S. is one big theocracy but with different morals from more traditional and recognizable theocracies. In their world, liars are useful movers of the flock but hideously inconsistent, as in the lie within the truth.My own approach to the economy, as it concerns me, is much like I would handicap a horse race. I would add, Canada is an addendum to the U.S. with little scope to act on its own, much less the will. Yes conservatives and liberals I am speaking to you.
  88. John McMortimer-Boyles from An Undisclosed Underground Location Safe From Nuclear Attack, Canada writes: The Natrix from Toronto, Canada writes: 'Economic growth but continued significant job losses?'

    You got it. That's what happens when workers on those assembly line jobs are replaced by robots that can do the job better and faster than the humans they are replacing.
  89. Shawn Bull from Canada writes: J. Kenneth Yurchuk from Toronto, Canada writes: Shawn Bull, the inflationary phse is yet to come with an abbreviated Bull in between. Double dip, coming up.
    ---------------------------------
    Yes, with more money injected into the system hyper-inflation is a concern but it is so difficult to predict. Again, time will tell on that front.
    ---------------------------------
    Doctor Demento from Canada writes: You can thank Paul Martin and Jean Chretien for that by putting Canada on a sound fiscal footing before spendthrift Harper took the reins . . .
    -------------------------
    Yes, the past Liberal government put Canada on a solid footing and can be given credit for our strong banks.

    You can also thank Mulroney for the GST and Free Trade that created strong income to create the surpluses.

    You can also thank Harper/Flaherty for forcing the banks to increase their level of liquidity back in the spring of 2008.

    That's what good governments do....build on the good prvious governments did. We are very forrtunate to live in Canada.
  90. The Angry Left from Canada writes: Mike from Van from Canada writes:...U.S. is still living in financial la-la land, with an empty suit president who doesn't have the balls to tell his constituents that their taxes are going to have to go way, way up to pay for the mess they've got themselves and apparently the rest of the world into.
    ________________________________________
    >He's breaking it to them gently.
  91. Rob Swanson from Edmonton, Canada writes: Which begs the question, if trillions dropped out of the global economy, never to be seen again as asset values were reset, and the market has been rising on the tide of the first trillion,...

    is the plan to keep printing to make the economy grow, or does the weed go to seed when Obama is forced to start paying for this all?

    He keeps claiming that the spending is to stabilize the economy, not substitute for it.

    If this is the bottom, its because we haven't even bothered to venture into the deep end of the pool.
  92. Craig ! from Republic of Newfoundland, Canada writes: Jason S from Windsor, Canada writes: Rahm Emanuel AND Hillary Clinton both said 'never let a good crisis go to waste' referring to the financial meltdown. Why would they say such a thing? Because in crisis people are afraid and look to government for answers. A political science professor at EconoChristian.com said that 'governments use crises to push their agendas

    -----------

    Jason you have been posting this for quite a while now and I am sick of it. The problem with people like you is that you deal in half truths and fabrication.

    When Clinton said this she was speaking to a climate change confrence and was talkign about the Climate Crisis not the economy. For the record she is right regardless because this is the only time you can get governments to act, when they have no other choice when there is a crisis. Just look around at all the stuff Bush did in the name of crisis. Started 2 wars, broke laws all over the world, violated the rights of US citizens. And so much more, all in the name of fear and crisis
  93. Being Canadian from Canada writes: Insanity: 'Doing the same thing over and over again and expecting different results.'

    Canada is infested with nothing but a populace of insane children.
  94. The Angry Left from Canada writes: I just realized the genius of Obama in leaving Bernanke in. He's read Macchiavelli.
  95. Yvonne Wackernagel from Woodville, Canada writes: No one should expect that the economy can bounce back in a hurry after so many large international corporations have closed their doors and -as was recently reported in the international press - they are expecting 60 million unemployed world wide before this is all over. People (ordinary middle class, etc.) are reluctant to get into debt when their income on their investments is so much lower than the interest rate being offered borrowers. It just does not make sense.
  96. G H from Calgary, Canada writes: Dakota from Canada writes: According to Liberal party logic, the global recession was caused by Harper. Does that then mean that any global recovery will also be caused by Harper?

    Wow, I hadn't realized how powerful and influential our PM is!

    Long Live the most powerful man on the planet!

    _____________________________

    No it was Iggy's recent rise in the polls which heartened the global economy....Harper only does Alberta neo-con Reform swine flu silly hair bad things.
  97. ss dd from Vancouver, Canada writes:
    Yeah, recession is gonna be over this year... and pigs will start flying again just about Christmas.

    Just go back and start charging that credit card to the hilt. The economy needs your sacrifice... :-)
  98. Man of La Mancha from Canada writes: As usual the Neocons - Right Wingers believe the fairy tales and assume anyone who doesn't believe them hates Harper and relishes misery. The reality is that this situation did not occur overnight and it won't be resolved in a short period of time. If you read the article, what Bernanke is saying is that the decline is far from over, as a matter of fact, it's continuing for the forseeable future. Everything is not partisan.
  99. Shawn Bull from Canada writes: ss dd from Vancouver, Canada writes:
    Yeah, recession is gonna be over this year... and pigs will start flying again just about Christmas.
    ----------------------------------
    Your statement 'and pigs will start to fly again'.

    Pigs flew in the past? I was unaware of this.
  100. Planete Quebec from Montreal, Canada writes: Instead of reading mainstream stupidities, let's enjoy watching Bernanke being cooked again by Ron Paul, today : http://libertymaven.com/2009/05/05/ron-paul-puts-ben-bernanke-on-notice/5579/
  101. Grampa Canuck from Canada writes: A lot of 'ifs' in Bernanke's prediction. If the very possible commercial real estate collapse doesn't occur. If the looming credit card debt monster doesn't explode. If financial system can be brought back under thoughtful regulation and transparency. If the humongous pool of credit default swaps doesn't rear up and bight us. If we aren't just seeing a sucker's rally in the markets. If the economic fundamentals are actually basically sound. If, if if.........
  102. Ob Server from Canada writes: Well....if B says it, it MUST be true. Does that mean that 12 million americans will get jobs too? This week's jobs numbers will show another 600,000 plus job losses....
  103. General Ham from PoCo, Canada writes:
    There is nothing backing up the U.S. currency they are printing other than the future taxes that will be paid. Correct me if I am wrong but any society that goes to paper money without the backing of real wealth dies within 40 years? (trying to recall my history lessons of 20 years ago).

    How long has it been since the gold standard was dropped?

    Just seems to me that the cash they are printing has nothing to back it up. Why believe in something that isn't worth the paper it is printed on. Can't wait until all the cash they have printed actually hits the markets. We are going to see inflation big time as trillions of new green backs are suddenly released...

    Not that I am an economist by any stretch but I smell a stinker here...
  104. ss dd from Vancouver, Canada writes: Shawn Bull from Canada writes: ss dd from Vancouver, Canada writes:
    Yeah, recession is gonna be over this year... and pigs will start flying again just about Christmas.
    ----------------------------------
    Your statement 'and pigs will start to fly again'.

    Pigs flew in the past? I was unaware of this.
    ---

    They were. Remember when Dow was hitting 14,000 (for no good reason), and house prices 'could never fall '.
    It was like yesterday... :-)
  105. dav li from Vancouver, Canada writes: It's just a show. The World won't be fooled. People will dump Greenbacks like they did toilet papers. So how come there is a recovery?
  106. paulo the seer from waterloo, Canada writes: Money is simply an IOU.
    Gold wasn't 'wealth'.
    Simply another form of IOU.
    It simply makes the transfer of labour easier.

    The IOU can be earned after the 'event'.
    Or it can be given before the 'event'.

    Printing more IOU's does not necessarily lead to devaluation of the IOU.

    Wealth is a measure of human potential.
    Wealth is infinite.
  107. Beer and Popcorn from Canada writes:
    Where's all the doom, all the gloom crowd?

    Looks like the PM really knew what he was talking about when he said that the markets were a buying opportunity and Canad a would rebound faster than most economies.

    What's amazing is that Mr Harper has led us out of this single handedly with the opposition Liberal$ fighting the implementation of solutions each and every step of the way.

    Canadians must never forget - the Liberal$' $1.95 per vote was MUCH more important to them than the health of the Canadian economy.
  108. l.f. ghawke from lethbridge, Canada writes: his comments are a wailing wall street fantasy!!!!!!!!!!!!
  109. Terry F from Edmonton, Canada writes: paulo the seer from waterloo, Canada writes:
    Harper is an empty pullover.

    Let's face it, he's an 'evangelical christian'.
    Enough said.

    Not the brightest bulb.

    Hmmm...seems bigotry is alive and well in Waterloo...
  110. Freedom Rider from Edmonton, Canada writes: If it an upswing doesn't happen soon with all the money Obama printed the masses will soon realize there is something fishy about their new government.
  111. I love Canadian Rockies Cleavage from Canada writes: This fellow obviously has little insight or ability to look at himself objectively. If he did, he would quickly realise that he has no credibility or right to predicte.
  112. PW Bailey from Canada writes: Think the recession is over?

    Think again.

    http://whatisthatwhistlingsound.blogspot.com/2009/05/bernankes-laser-like-accuracy.html
  113. J Lee from Canada writes: He couldn't predict the start of this fiasco until it slapped him in the face. And now he somehow thinks he can predict the end of it? We are suckers and dupes but not quite as big as he imagines it. The next thing we will see is that he has been talking to Carney, and Carney will soon confirm all that sage advice. Isn't life grand. Yipee the party has started! Yipee Yipee Yipee.
  114. Fiat Lux from Canada writes: >>>

    Give me a break.

    Anyone with Calculus 101 would recognized we've probably just passed the inflection point on a line with negative slope. We are nowhere near the "minimum"/bottom.

    GDP will tease "technical recession" for a while ... a long while,
    while it bounces along the bottom.

    People are still nervous, can't or scared to spend, and "HunkeringDown"...
    3 strikes against expansion and recovery.

    <<<
  115. Michael Peters from Vancouver, Canada writes: Inflation? What inflation? The CPI is calculated by the government. If they don't like the answer the math provides, they just go in and substitute this for that, and voila! - inflation disappears.

    The value of our money is being stolen from us and no one cares.
  116. Beer and Popcorn from Canada writes: The moonbats are out of the cellar!
  117. Reg Smith from United States writes: Public spending was essential to creating jobs in the Great Depression. Look at these hundreds of billions now pouring in to everything. This economy will be turning around within months IMO -- found a cool site; Balkingpoints ; incredible satellite view of earth
  118. Stude Ham from Canada writes:
    like millions of others, bernanke believes in santa claus... like his economic predictions, the jolly old elf also shows up at about the same year end time. and bernanke must see santa as the saviour of the calamitous vortex.

    the full effects of the vulture economics fuelled by the unbridled speculator and gambler greed are only now beginning to surface. and the results are ugly... very ugly.
  119. Poppi Rico from Toronto, Canada writes: I like the way Jim Rogers puts it.

    http://www.youtube.com/watch?v=nsnsdgPEDR8
    http://www.youtube.com/watch?v=n_U03h43Sac&NR=1
  120. Chris Halford from Ottawa, Canada writes: Accurate 19 times out of 20 with a margin of error of 4.4%.
  121. Is there anybody out there from Saltspring Island, Canada writes: Repeat a lie often enough and you believe it.
  122. Is there anybody out there from Saltspring Island, Canada writes: whoopee, wide screen TV, SUV, mansions, cheap debt.....
  123. Progressive Economist from Victoria, BC, Canada writes: The recession/huge economic mess won't be over until we get a handle on the real problems facing the real economy (it'll just take a bit of a breather before round two). The rules need to be revisited, particularly with respect to lending to households. Canadian Banks play by the rules, they won't lend beyond a ratio of 40% of debt to income. Unfortunately for a 5% down 35 year mortgage at the posted 5-year rate of 3.9%, this is now more than 5 times annual income. Which is fine, except when interest rates rise. When interest rates rise, the amount of debt becomes unmanageable and financially toxic at the household level. As a result, when interest rates rise, households rush to deleverage, spending is reigned in, bankruptcies begin to accumulate, and distress sales become more common. From a policy perspective, the traditional remedy to an ailing economy is for the central bank to lower interest rates. Unfortunately, under the current set of rules our economy has become resistant to the cure for economic influenza. Low interest rates might prop up or delay a real estate market correction, but they also set the stage for the next round of economic distress. If the banks were limited to both the 40% debt-to-income rule and a maximum multiple of household income rule then when interest rates dived in response to a down economy, more money would find its way into the jeans of households as households would be limited in the degree to which they could leverage themselves (mostly via mortgages) and the money would be spent in the real economy, buying things or being invested and creating jobs. Banks won't lend businesses more than 3.5 times EBITDA (max) but they will lend households more than 5 times income. Perhaps the banks take this risk because they are insured by CMHC. In the words of Britney Spears, Canadian Banks "are not that innocent".
  124. Paul F. from Toronto, Canada writes: Bernake's comments of course are nothing more than cheerleading. There is absolutely no indication that the economy will produce a rapid recovery. Interest rates are practically 0% and yet demand is anemic. Not only are there not many loans to be had, everyone who has loans are focused on paying them off. The key word now is deleveraging. What is absolutely infuriating is how the government has spend hundreds of billions to help the investment banks, insurance companies and banks deleverage from their complex insurance schemes and fradulent derivatives investments. Yet with thousands of workers being kicked out of a job, we are supposed to be happy that the man-made recession is over. And workers make some sort of protest against making concessions against a recession that was engineered by the investment bankers and hedge fund managers, they are treated as public enemies, ingrates for not wanting to impoversh themselves. It is high time to reexamine the utility of having a market economy without clear protections for the small investor and working people (ie. the majority) to protect us against the greed of a tiny minority.
  125. CallofDuty . from Canada writes: Paul F. from Toronto, Canada writes: Bernake's comments of course are nothing more than cheerleading. There is absolutely no indication that the economy will produce a rapid recovery. Interest rates are practically 0% -------------------------- We are going to be witnessing the end game of the US economy and the USD shortly. They cannot cute rates anymore and they can't print a trillion a day which would make them the next Zimbabwa. Look at the other currencys vs the USD. They are all gaining alittle every day.
  126. 2429124.5 Av.56 from Quebec City, Canada writes: JUST a lot of American "CORPORATOCRATIC BS" by Bernake. Who? is going to make all that PAPER they printed worth something now. This CAPER isn't over by a long shot yet........
  127. Beer and Popcorn from Canada writes: Come on left - you can do better than that!

    Extra points for mentioning the need for more government control, or Stephen Harper is 'laissez faire, I don't care' or somehow link it to George W Bush?
  128. Lawrence Zwer from Canada writes: Every trend has moves in the opposing direction. Too bad Bernanke can't call this one for what it is.
  129. Duck Dodgers from Toronto, Canada writes: If Bernanke thinks this thing will have blown over in 2009, he's got marbles in his head. This "contraction" talk is all just economic double-talk for "I haven't got a clue when this recession thing is over"!

    We're going to see this thing hang over our heads until at least June 2010.
  130. James Young from Brantford, Canada writes: Do pigs fly?

    Durgan
  131. Doctor Demento from Canada writes: Beer and Popcorn won't be seeing much champagne and caviar in the near future . . .
  132. David any from L-A-T, Canada writes: If I take the money I have earned in my Index Fund from March 12 to today and buy a car....Is that a real car or is that a Neo Con car or is it a Gold backed car or is it a worthless paper car?
    I really want to know.
    IMHO it is a real car. I agree with every philosohical argument about the value of gold and how fickle money is... given it is backed by good will only. However I can only deal with the world as it is. People have made money in the last two months in the stock market. It could plunge tommorrow the next day or a year from now and I will be disappointed. In the meantime I will enjoy one small success in my life. It think I caught the Tsunami Bottom. The Mother of all Bottoms. For once ...I...am smart.
    In the meantime the buzz is about this being a sucker rally or a dead cat bounce. My belief is that it may be by necessity that money returns to the market because there are winners and losers and in the balance...money changes hands. People want to trade. They want to do it . Otherwise ....what is the point of having so much money. Let the games begin. When the casino closes we find somewhere else to gamble in a human activity that is as old as our conscience.
  133. B C from Canada writes: Well put Dave...Good for you, but Life is not a Casino and not everyone has interest, time or money to gamble.

    What you just described is very true and very disgusting sign of a crooked society, crooked economy and a rotten system. The infux of fake money created this "recovery". If "little" gamblers like you made away with some extra bucks, lets not even think about what the real big fish packed in their pockets. Lets see how far it goes...

    Good luck to all
  134. all canadian all american from US sector of, Canada writes:
    "Recession over this year, Bernanke says"

    Correct, recession over, depression starts.
  135. Alice Wonderland from Canada writes:
    Bernanke et al state unemployment numbers will rise for another 18 months, who will be buying what and when? 2013? it is only 2009 now

    US housing is not too bottom until june 2012, three mor years of losses.

    coporate bonds and the 2nd and 3rd wave o mortgage defulats do not peak until 2011.

    Bernanke is correct that the 'recession' will be over, but he omits that after the recession, comes the depression.
  136. GLOBAL GAEL from Kingston, Canada writes: The logic behind such a Canadian investment to what was widely known to be a wothless company escapes me.

    I at least hope somewhere in the security documentation there is a provision for at least having the right to sell its parts for scrap?

    I wonder who the hell elected such a bunch of clowns to lead our country? I assure you it wasnt me.
  137. Sassy Lassie from Canada writes: Cheer up Liberals, you still have your faux crisis called global warming to scare monger the public. Oh and if that doesn't get them shaking tell them how the Liberals are going to grant the CHRC unlimited power to commit social experiments on private business and citizens-now that'll scare the public something fierce. Liberals in bed with the CHRC say it ain't soooooooooooooooo, oh yea they drafted Section 13.
  138. Alice Wonderland from Canada writes: funny, we posted the same thing, same time,
    so true tho
  139. Alice Wonderland from Canada writes:
    for a recovery you need three things,

    employment increasing - not happening for another 18 months
    housing prices to rise - no happening until june 2011 at last
    spending to rise - not happening with rising unemployment

    we are 24-30 months before you can think about a recovery.

    but who listen to sound logic anymore
    http://money.cnn.com/magazines/moneymag/moneymag_realestate/2009/snapshots/1.html
  140. Alice Wonderland from Canada writes:
    http://www.financialpost.com/story.html?id=1288738

    2025 recovery, financial post
  141. david t from Canada writes: Ben has been WRONG for years. He said no housing crash. We all know who 100% WRONG he was. Ben is a joke must like his country.
  142. Trev C from Orleans, Canada writes:
    The numbers continue to get worse every day and he thinks it's going to turn around?
    Guess he could be right once before he cashes out and flies to join Paulson somewhere warm.

    The only way it is going to turn around this year is if they let the damn thing go and let it all reset. Still think it would take more than 7 months.

    Ron Paul has been right forever and still the Fed exists. Bail failure, punish prudence!!!

    And BTW
    paulo the seer from waterloo, Canada writes:
    Money is simply an IOU.
    Gold wasn't 'wealth'.

    (Gold is a store of wealth that can't be 'created' like $$ it is of finite supply and therefore hold its value much better than $$)
  143. Weigh In from Canada writes: So Adrian Salbuchi ("Get your money out of the bank fast"), Gerald Celente ("Worst economic collapse ever"), and William Engdahl ("Not even Jesus could reverse the decline n the US") are all wrong, and Mr. Bernanke and his accomplices have rescued us from financial perdition after all.

    Want to place bets on this?

    (Watch the above three men on youtube, and be frightened, be very frightened.)
  144. Barry wd from Burlington, Canada writes: I like Bernake.

    I saw a good piece on him on 60 minutes. He's from a middle class background, down to earth and smart (Harvard? Can't remember...). He specialized on the Great Depression in his post-grad work, so I would think he knows how to avoid the mistakes of the past.

    While I'm not sure I share his optimism about the quick turnaround, I think he's on the right track.
  145. C K from Canada writes: Bernake has no choice but to say overly positive statements and muted negative ones. Like Harper who during the election campaign who in essence stated there wasn't even going to be a recession ("it would have already happened"). You are better off trusting analysts without any reason for bias. Therefore... don't trust your financial adviser, your banker, the bank or your federal politicians. For those who believe the worst is over just think about what you have witnessed in the past year alone. If the actions that governments have taken make sense to you and you believe they are on the right track... bet the farm.... everything you have the kitchen sink. There was a time when you could look at the balance sheet and financial statements of a company and valuate them. Balance sheets are cooked. CPI is cooked. Federal budgets are cooked. Madoff isn't the only crooked chef in the system.
  146. CallofDuty . from Canada writes: Alice Wonderland from Canada writes:
    http://www.financialpost.com/story.html?id=1288738

    2025 recovery, financial post
    ------------------------------------
    That's about right. Consider the loose money policy for the past 30 years.
  147. D K from Canada writes: "Recession over this year, Bernanke says"

    I'll take that bet.... how about $10K?
  148. GLOBAL GAEL from Kingston, Canada writes: ~400,000 Canadian have become unemployed since September, 2008 according to StatsCan.

    Here's to hoping your right this time Ben ol' buddy ol' pal.
  149. PC Montreal from Canada writes: The Angry Left from Canada writes: Willing to take bets on how many years it will take for U.S.A. to re-institutionalized some form of indentured labour/slavery.

    Ever heard about the work camp in Louisiana referred to as Angola? In Louisiana, 1 count of armed robbery can get you 30 years of hard time working in cotton fields for .40 an hour. Slavery is already here my friend. Expect more.
  150. Randy McClure from Canada writes: Fractional Reserve Banking from Canada writes: Because money is debt. Without debt, there can be no new money. ------------------------------------------------------ Correct. The moment that I first understood this concept, while sitting in a political economy class at the U of S back in 1985 I got a sick feeling in the pit of my stomach. Another side effect of the system is that it is impossible for all of the debt to ever be paid back (again, that means there would be no money), which means that bankruptcy is an inherent part of the system. There must be losers. Nice to see Chrysler, GM, Nortel, Air Canada, etc. doing their part to keep the system working smoothly. But all kidding aside, eventually all the new government debt is going to have to paid back. If the private economy starts borrowing again and stimulating growth that debt will be paid back in taxes. Otherwise, money inflation will take place and then nobody will invest in anything either and we'll have growth in money supply at the same time nobody else borrows or spends in a big way -- voila ... stagflation! But the bit thing nobody mentions is that when the economy does recover slightly, it will be smacked down again due to rapid spikes in oil prices. Investment in refining, and new exploration has crashed -- at the same time conventional oil production has peaked (actually peaked globally in 2005). This is a no-win until we wean ourselves off of a high-energy economy.
  151. George Smiley from Canada writes: Think L curve, not J curve
  152. Alice Wonderland from Canada writes: Barry wd from Burlington, Canada writes: He specialized on the Great Depression in his post-grad work, so I would think he knows how to avoid the mistakes of the past.

    Barry - if you read up on the depression, you will see Ben did, and continues to do everything the same.

    Ben studied the depression, not to avoid it, but to implement it.
    The only way USA get get out from under 30T federal debt, 60Tsocial sec debt, 100T state debt. 95T municipal and city debt,
    is to devalue the dollar.
    which i coming in a big way.
    read about QE and wha it means to you.
    it is a tax on savings, rsp, personal, all savings will be wiped out.
    QE read, learn
  153. Uncle Fester from Canada writes:
    Employment and John McCallum's opinion are trailing economic indicators.
  154. michael smith from Toronto, Canada writes: Selling everything now. 34% rise has been great since March - but completely unrealistic to what is REALLY going on.

    Get out now, and look back in the fall. All Cash.
  155. Alice Wonderland from Canada writes: Mr Swan told ABC Radio. “What we can say is that the revenue write-downs are of the order of over $200 billion – unprecedented in Australian history, forced upon this country by a sharp global contraction,” he said. Mr Swan expects the annual loss in revenue to continue out to 2015-2016.

    australia is 21 million people
    therefore canada may see a 360 billion drop in revenue per year. Add in the stimulus and two years we add one trillion in new debt
    6 years 3 trillion,
    YAHOO!!!!
  156. japhna japhna from Albany, Canada writes: problem is that this is unprecedented and NOBODY knows the sure way out of ir
  157. Alice Wonderland from Canada writes:
    no problem is unprecedented.
    eveything happens for a reason.
    this is an engineered crisis

    this has been seen coming for 10 years by many. many people. Greenspan included
  158. Donald Wilson from Canada writes: The big problem with Bernacke and all the other bankers is none of them realize just what " normal " business levels are . Surely not the level of activity that got us all into this mess . Ordinary folks will , or have already , sorted this out and are moving on a step at a time . Some month soon , Ben B. and Mark Carney will notice . They are always behind where we are . Banks loaning irresponsibily isn't normal . This " Fiat " system just isn't working very well - too much chance for abuse by the Bankers . Many in the world have already returned to Gold for holding security . We should do the same asap . Don't hold deflating money in the Banks .
  159. J. Michael from Canada writes: I'm not sure America is ever going to be the same after this downturn.

    Eventually there has to be a turnaround; but, a turnaround to what?
  160. The Bull from Canada writes: of course we need to be cautious, and take our time, as governments aren't done spending all my money yet...

    please, folks, give them more time - they aren't in control of all aspects of our lives yet, after all.

    what a joke.
  161. Another View from Canada writes: I don't know what Bernanke is smoking, but I got to get me some.
  162. CallofDuty . from Canada writes: The US banks are still bleeding billions, Auto industry is in the gutters, record unemployment...yeh things are looking up.
  163. Brad Brien from Canada writes:
    So far, history has proven that for every down in the economic cycle, there has been an up. Our society has not entered a 'beginning of the end' scenario, the economy will (eventually) rebound.

    Here's a quote to think about. "A very important ingredient of successful stock investing is courage. The courage to buy when others are selling; the courage to buy when stocks are hitting new lows; the courage to buy when the economy looks bad; the courage to buy at the bottom. If you look back over the years, you will note that the time when the gloom was the thickest invariably turned out to be the best times to buy stocks."
    Fred J. Young.

    Buy now, have patience, reap the rewards later !
  164. Alice Wonderland from Canada writes:
    go look at the DOW chart 1929-1933, 4 years down 85pc.
    you are buying at the halfway down point.

    enjoy
  165. Brad Brien from Canada writes:
    Alice Wonderland, I agree with you.
    I fully expect further lows in the stock-markets. I can't predict when the markets will bottom (wish I could), but I can be ready to buy limited amounts of undervalued stocks when others succumb to fear/panic/poor judgement/bad advice.

    Contrarian investing, trying for "courage" !
  166. jim john from theres a lot of bull in this bull market, Canada writes: insiders are selling like there is no tomorrow on all indexes. Go check the insider selling notices. We are at record insider selling. It tells you something. If things were so good why are they dumping shares.

    I'll tell ya - you sell rise not buy the rise in a bear market

    Unbelievable amount of exec selling and yet you think this is a bull market.

    Boy are you in for a surprise.
  167. Brad Brien from Canada writes:
    Jim John, very good points.
    This is exactly what I'm looking for, others selling in mass, causing the price of stocks I am interested in to fall.
    This will allow me to purchase 'good' stocks at very reasonable prices !

    Hoping for more !

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