Bernanke: Economy should grow again later in 2009

Didn't I give you a math problem to do regarding GDP?

SteveF please what does Bernacke and Warren Buffet know about the economy compared to the brilliant posters on this board like Steve, NYC10022 (aka disgraced EddieWilson), aboutready etc?

Nothing. We should listen to these doom and gloomers as we are due for a 50% reduction in manhattan real estate anyday now. Buffet knows crap compared to these guys......

didn't Buffett just say that he had nothing positive to say about housing? and, by the way, here is what Bernanke has to say. Straight from the horse's mouth:

http://www.calculatedriskblog.com/2009/05/bernanke-on-economic-outlook-at-10-am.html

If you find joy and solace in that you good for you. I don't.

Wait, the dude who said "BUY NOW" for Manhattan RE just before it crashed 25-30%, bragged about his Las Vegas purchase in a community now bankrupt, and has shown absolute lack of knowledge about ANYTHING in regards to RE is calling someone ELSE disgraced?

Dude, there is no bigger loser than you on this board. Even SteveF looks like Warren Buffett next to you....

> Buffet knows crap compared to these guys......

"There’s no signs of any real bounce at all in anything to do with housing, retailing, all that sort of thing,” said Buffett

Seriously, perfitz, every time you open your mouth you just prove yourself dumber...

> Didn't I just say that?

No, you said it over a year ago. Meaning if he's right, you're only 2 years premature.
And going by the traditional length of RE dips, you're also 5 years premature on RE.

But, keep trying though... you are funny.

NYC10022 - yes Vegas did crach 25-30%. I absolutely agree with you. That is why I bought after the crash for 50% of the post crash price. I love my property. Am going there next week for business reasons. How mush in equity did you earn from paying rent for the past 8 years?

EddieWilson also knows more about the economy than Forbes:

http://www.facebook.com/ext/share.php?sid=77800498173&h=4jf6w&u=rqMtU&ref=nf

We continue to expect economic activity to bottom out, then to turn up later this year,” Mr. Bernanke told the congressional Joint Economic Committee, according to his prepared remarks.

“Even after a recovery gets under way, the rate of growth of real economic activity is likely to remain below its longer-run potential for a while,” he predicted. “We expect that the recovery will only gradually gain momentum and that economic slack will diminish slowly.”

this is worthy of SNL.

here is the forbes link http://www.forbes.com/2009/05/04/recovery-indicators-unemployment-opinions-columnists-recession.html

cc, you take your comedy where you can find it.

This is the nugget from Bernanke's speech that made me feel particularly warm and fuzzy:

An important caveat is that our forecast assumes continuing gradual repair of the financial system; a relapse in financial conditions would be a significant drag on economic activity and could cause the incipient recovery to stall.

why not: " an important caveat is that our forecast assumes that everything will get better; if it doesn't, everything will get worse."

I think bernanke is right. after all, he did predict the crash. so clearly, he is the best person to predict the recovery.

unless things get worse or a lot better.

eric_cartman, read the Bernanke excerpt. He sees some OK, some a little better, a whole lot of awful, and one potential bomb. He's not saying things will get better. He's saying that if we contain our financial beast we may see a bottoming and then an uptick in some areas.

We're not in a recession.
We were in a recession last quarter but we're growing again.
We're in a recession but we'll be returning to growth shortly.
We're in a recession but we'll be returning to slow growth at the end of the year.
...