Bernanke says this is much closer to a natural disaster than the Great Depression

[Yo_Mama_Been_Loggin]

Ben Bernanke, the former Federal Reserve chairman who served before and after the 2008 financial crisis, told CNBC on Wednesday that the coronavirus economic halt is more like natural disaster than a classic depression.

Earlier Wednesday, current St. Louis Fed James Bullard told "Squawk Box" the U.S. economy is facing a huge shock to the system over the near-term, but it will then bounce back strong after worst of the outbreak passes.

Bullard said this week the nation's unemployment rate would skyrocket to 30%, higher than it was even during the Great Depression.

However, he tempered those remarks on CNBC, saying that while the near-term damage will be daunting, it's largely an intentional hit due to efforts to combat the spread of the coronavirus. It will be unwound quickly, he added.

https://www.msn.com/en-us/money/markets/bernanke-says-this-is-much-closer-to-a-natural-disaster-than-the-great-depression/ar-BB11GTxL?li=BBnbfcN&ocid=hplocalnews

And sending people back to work prematurely will make both the health concerns and the economy worse.

[Wellstone ruled]

1. My oh my,

Helicopter Ben speaks. Ben,go back to your hidey hole.

[Javaman]

2. asshole philosophy from the likes of bernanke "rich-splaining"

exactly how we poor are supposed to feel.

thanks ben for you fucked up perspective. try asking the people out of work what they think.