Stunning! No,really, I am stunned. Ben Bernanke graduated Harvard with honors, MIT Masters in economics, tenured Princeton Chair of the Department of Economics, told his audience in Atlanta earlier this week that, U.S. economic growth so far this year looks to have been somewhat slower than expected. Thank you Captain Obvious! Please make me the Fed Chairman soon, with out the benefit of Bernanke’s vast education even I know that.
Bernanke then went into the usual double talk when explaining why the economy is slow, On the positive side, household incomes have been boosted by the net improvement in job market conditions. Then a few sentences later, Particularly concerning is the very high level of long-term unemployment–nearly half of the unemployed have been jobless for more than six months.
In what initially sounded like Bernanke calling Congress to deal with the National Debt, If the nation is to have a healthy economic future, policymakers urgently need to put the federal government’s finances on a sustainable trajectory. It was too good to be true, in the next sentence Bernanke pulled the punch, But, on the other hand, a sharp fiscal consolidation focused on the very near term could be self-defeating if it were to undercut the still-fragile recovery.
So which is it Ben? Is there a recovery or no recovery? Deal with the Debt or not? Wall Street was so impressed by this speech that it has spent the last couple of days going down. What we know is this, the economy is in a tough spot with unemployment, the Debt,the Dollar, inflation & the list goes on. We also know that the current policies are not working to bring about the results many were expecting.
What is working is investments in gold & silver of planned acquisitions in your Tangible Asset Portfolio. Gold & silver are both continuing to move forward after the most recent profit taking. The metals markets have proven results over the last decade. While Bernanke wavers put your hard earned money into solid gold & silver.