{"id":3072,"date":"2011-06-23T15:17:58","date_gmt":"2011-06-23T19:17:58","guid":{"rendered":"http:\/\/blog.beliefnet.com\/watchwomanonthewall\/?p=3072"},"modified":"2011-06-23T15:17:58","modified_gmt":"2011-06-23T19:17:58","slug":"fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down","status":"publish","type":"post","link":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html","title":{"rendered":"Fed Chairman Ben Bernanke hasn’t a clue why the US Economy is melting down"},"content":{"rendered":"
\n
\n
\n
\n
\"\"Fed Chairman Ben Bernanke hasn’t a clue and this is who is the head of the Federal Reserve. \u00a0“Bernanke\u00a0told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.” \u00a0Does this tell you anything about the lack of real wisdom the idiots in charge of our money and economy possess? \u00a0Scary, aye? \u00a0It doesn’t surprise me that the\u00a0economy\u00a0isn’t rebounding. \u00a0Keynesian economics, A.K.A. stimulus, A.K.A. Communism does not work, it never has, and it never will. \u00a0And this is the communist junk economics they teach in the colleges of the USA. \u00a0This is what Geitner and the rest of the ill-taught robots learned and they’re sticking with it, to the bitter end of the USA and every dollar and every worth-while \u00a0job in the USA! \u00a0Welcome to the United states of Communism. \u00a0Bernie (comment from the man who emailed in this article.)<\/em><\/span><\/div>\n

\n<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
Economic trouble puzzles Fed chief, too<\/strong><\/span> Jun 22, 5:57 PM (ET)<\/span>By PAUL WISEMAN and MARTIN CRUTSINGER <\/p>\n

WASHINGTON (AP) – The economy’s continuing struggles aren’t just confounding ordinary Americans. They’ve also stumped the head of the\u00a0Federal Reserve.<\/span><\/p>\n

\"\"<\/a>
Ben Bernanke, Clueless Head of the Federal Reserve<\/figcaption><\/figure>\n

Fed Chairman\u00a0Ben Bernanke\u00a0told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.<\/p>\n

“We don’t have a precise read on why this slower pace of growth is persisting,” Bernanke said. He said the weak housing market and problems in the banking system might be “more persistent than we thought.”<\/p>\n

The Fed cut its forecast for economic growth this year to a range of 2.7 percent to 2.9 percent from an April forecast of 3.1 percent to 3.3 percent. It also cut its forecast for next year to a range of 3.3 percent to 3.7 percent from an earlier 3.5 percent to 4.2 percent. The Fed also said unemployment would stay higher than it had expected earlier.<\/p>\n

The economic news has been gloomy. The government reported that the economy grew at an annual rate of only 1.8 percent in the first three months of the year. It isn’t expected to grow much faster in the current quarter. The economy added 54,000 jobs in May, far fewer than in the previous two months.\u00a0Consumer spending\u00a0has weakened, too.<\/p>\n

The bad economic news is taking a political toll on President Barack Obama. For the first time this year, an Associated Press-GfK poll found that fewer than 50 percent of respondents believe Obama deserves re-election.<\/strong> Obama’s overall\u00a0approval rating\u00a0fell to 52 percent in the new poll. It had risen as high as 60 percent after the U.S. raid last month in\u00a0Pakistan\u00a0that killed Osama bin Laden.<\/p>\n

The new Fed statement acknowledged a slowdown over the past two months. “They see the weakness,” said Bruce McCain, chief investment strategist at Key Private Bank. “You can hear their concern about economic weakness despite their hope it is likely to be temporary.”<\/p>\n

\"\"The Fed stuck to its plan to bring an end this month to a program to help the economy by buying $600 billion in\u00a0government bonds. The Fed also intends to keep short-term interest rates near zero “for an extended period,” a phrase it has been using the past two years. Though the central bank noted that inflation has risen, it expects that to be temporary as well.<\/p>\n

The Fed has kept rates at ultra-low levels since December 2008. Abandoning the promise to keep them there for an “extended period” would be viewed as a signal that the Fed is preparing to raise interest rates. Many private economists think it will be another full year before the economy has recovered enough for the Fed to do it.<\/p>\n

\"\" “There’s no obvious hint of tightening here,” said Jim O’Sullivan,\u00a0chief economist\u00a0at\u00a0MF Global. “There’s no hint of new easing.”<\/p>\n

The bond-buying program has been controversial. Supporters say the bond purchases have kept interest rates low and encouraged spending. Low long-term rates make it easier to buy homes and cars and for companies to expand.<\/p>\n

 <\/p>\n

This article has been severely snipped. \u00a0Read more:\u00a0http:\/\/apnews.myway.com\/article\/20110622\/D9O16AK02.html<\/a><\/p>\n

 <\/p>\n

 <\/p>\n

<\/span><\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fed Chairman Ben Bernanke hasn’t a clue and this is who is the head of the Federal Reserve. \u00a0“Bernanke\u00a0told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.” \u00a0Does this tell you anything about the…<\/p>\n","protected":false},"author":403,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[557,704,223,1121,35,176],"tags":[1277,9359,1278,1276,229],"class_list":["post-3072","post","type-post","status-publish","format-standard","hentry","category-business","category-economics","category-economy","category-failed-policies","category-obama","category-recession","tag-ben-bernanke","tag-communism","tag-gloomy-report","tag-keynesian-economics","tag-stimulus"],"yoast_head":"\nFed Chairman Ben Bernanke hasn't a clue why the US Economy is melting down - Watchwoman on the Wall<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fed Chairman Ben Bernanke hasn't a clue why the US Economy is melting down - Watchwoman on the Wall\" \/>\n<meta property=\"og:description\" content=\"Fed Chairman Ben Bernanke hasn’t a clue and this is who is the head of the Federal Reserve. \u00a0“Bernanke\u00a0told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.” \u00a0Does this tell you anything about the…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html\" \/>\n<meta property=\"og:site_name\" content=\"Watchwoman on the Wall\" \/>\n<meta property=\"article:published_time\" content=\"2011-06-23T19:17:58+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/photos2.fotosearch.com\/bthumb\/corbis\/DGT080\/AX077092.jpg\" \/>\n<meta name=\"author\" content=\"Donna Calvin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fed Chairman Ben Bernanke hasn't a clue why the US Economy is melting down - Watchwoman on the Wall","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html","og_locale":"en_US","og_type":"article","og_title":"Fed Chairman Ben Bernanke hasn't a clue why the US Economy is melting down - Watchwoman on the Wall","og_description":"Fed Chairman Ben Bernanke hasn’t a clue and this is who is the head of the Federal Reserve. \u00a0“Bernanke\u00a0told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.” \u00a0Does this tell you anything about the…","og_url":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html","og_site_name":"Watchwoman on the Wall","article_published_time":"2011-06-23T19:17:58+00:00","og_image":[{"url":"http:\/\/photos2.fotosearch.com\/bthumb\/corbis\/DGT080\/AX077092.jpg"}],"author":"Donna Calvin","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html","url":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html","name":"Fed Chairman Ben Bernanke hasn't a clue why the US Economy is melting down - Watchwoman on the Wall","isPartOf":{"@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html#primaryimage"},"image":{"@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html#primaryimage"},"thumbnailUrl":"http:\/\/photos2.fotosearch.com\/bthumb\/corbis\/DGT080\/AX077092.jpg","datePublished":"2011-06-23T19:17:58+00:00","dateModified":"2011-06-23T19:17:58+00:00","author":{"@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/#\/schema\/person\/1470e1ef6765f8a27f970307b0835df1"},"breadcrumb":{"@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html#primaryimage","url":"http:\/\/photos2.fotosearch.com\/bthumb\/corbis\/DGT080\/AX077092.jpg","contentUrl":"http:\/\/photos2.fotosearch.com\/bthumb\/corbis\/DGT080\/AX077092.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/2011\/06\/fed-chairman-ben-bernanke-hasnt-a-clue-why-the-us-economy-is-melting-down.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall"},{"@type":"ListItem","position":2,"name":"Fed Chairman Ben Bernanke hasn’t a clue why the US Economy is melting down"}]},{"@type":"WebSite","@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/#website","url":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/","name":"Watchwoman on the Wall","description":"Beliefnet Voices - Donna Calvin","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/#\/schema\/person\/1470e1ef6765f8a27f970307b0835df1","name":"Donna Calvin","description":"In sixth grade my teacher told us that we were going to be the first generation to see the year 2000 and all things would be different. He continued that God wasn't important, wasn't real, and our parents just used God to impose restrictions on us because they were inadequate to parent effectively. I knew then I was going to be involved in a war and that I would have to be in Jesus Christ's Army. Even then, I knew the United States of America would cease to exist without the vast majority of its citizens voluntarily submitting to the Perfect and Good Laws of the Holy Bible. I am a woman who loves the Lord Jesus Christ. I am tired of seeing our LORD denigrated from the school house to the White House. I search the Internet for items that ought to serve as a warning to Americans and Christians all through America, but the nation seems to be sleeping. Wake up America! You are losing your freedoms, your children and your country. Wake up and help stop it!","url":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/author\/dcalvin"}]}},"_links":{"self":[{"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/posts\/3072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/users\/403"}],"replies":[{"embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/comments?post=3072"}],"version-history":[{"count":22,"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/posts\/3072\/revisions"}],"predecessor-version":[{"id":3094,"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/posts\/3072\/revisions\/3094"}],"wp:attachment":[{"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/media?parent=3072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/categories?post=3072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.beliefnet.com\/columnists\/watchwomanonthewall\/wp-json\/wp\/v2\/tags?post=3072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}