Jul
Bush and Bernanke on the Economy
George W. Bush believes “I’m not an economist, but I do believe we’re growing,” he said later, adding that the economy is “not growing the way it should.” from WaPo
Yet, Bernanke, who is an economist says “Weak retail sales and a rise in producer prices at their highest annual rate in 27 years provided further evidence of “stagflation” in the U.S. economy on Tuesday.
Federal Reserve Chairman Ben Bernanke reinforced the troubled outlook for the world’s largest economy, saying growth faced significant downside risks, even though the Fed raised its forecast for economic growth as well as for inflation.” from Reuters
The statement I love is “growth faces significant downside risk”. So I suppose the U.S. will always have growth, it’s just that sometimes the growth is positive, and sometimes the growth is negative.
Sheesh.
