Wednesday, March 18, 2009

Bernanke vs Average American - There won't be a Depression/There will be

NVDL: "Only one in ten say recovery is likely within a year; one in five predict it will take longer than four years for the country to get back on its feet," Holland said.

So 9 of 10 Americans believe Bernanke is wrong (he said the economy will recover in 2009). I agree with the 9/10, which begs the question. Why do you have an expert on the financial system coming up with wishful fabrications? Is it because he has investments he hopes can be propped up by public sentiment? Or is he simply suffering from Jiminy Cricket Syndrome. It's quite troubling - knowing that this is the case.
clipped from

The number of Americans who think another Great Depression will occur within the next year is on the rise, a poll released Tuesday shows.

Forty-five percent of people questioned in a CNN/Opinion Research Corporation survey said another depression is likely.

"Will the Great Recession turn into another Great Depression? A growing number of Americans think it might," said CNN Polling Director Keating Holland. "Last December, 38% said a depression like the one the U.S. experienced in the 1930s was likely in the next year. Now that number is up 7 points."

But Federal Reserve Chairman Ben Bernanke doesn't share that sentiment. Asked during an interview with CBS on Sunday whether the country is headed into a new depression, Bernanke said, "I think we've averted that risk. I think we've gotten past that."

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