Ben Bernanke: Blame Housing For This Lousy Recovery

[MrCoffee]

And by housing, Bungling Ben means "anything but me"

Housing, with some help from Wall Street, got us into the Great Recession, and it is housing that has made the recovery from that recession so slow and painful, Federal Reserve Chairman Ben Bernanke said today.

"The state of the housing sector has been a key impediment to a faster recovery," Bernanke said in a speech at the National Association of Homebuilders International Builders' Show in Orlando, Florida on Friday.

"In the typical economic recovery, a resurgent housing sector helps fuel reemployment and rising incomes," he added. "But as you know all too well, that scenario has not played out this time."

---

He also acknowledged that the recovery in housing will continue to be painfully slow, estimating that one million foreclosed homes owned by banks could hit the market each year "for the next few years," keeping downward pressure on prices.
http://www.huffingtonpost.com/2012/02/10/bernanke-blame-housing-market_n_1268918.html

[Vincardog]

1. He can not admit it was HIS "conservanazi" policies that lead to and keep us in this morass

[banned from Kos]

3. Absurd. He was appointed to the Fed at the tail end of the bubble.

And now he is a dove (Keynesian) that conservatives hate.

[Vincardog]

4. What was Mr. Bernanke’s most recent appointment before becoming Chairman of the Federal Reserve?

What was Mr. Bernanke’s most recent appointment before becoming Chairman of the Federal Reserve? Mr. Bernanke was sworn in on June 21, 2005, as Chairman of the President's Council of Economic Advisers.

What position did he hold before being appointed as Chairman of the President's Council of Economic Advisers?
Prior to his appointment to the Council, Mr. Bernanke served as a member of the Board of Governors of the Federal Reserve System. He was appointed on August 5, 2002, and resigned on June 21, 2005.


Right ge is sooo new to the game

[banned from Kos]

7. Bernanke fights deflation - which is the correct thing to do (Krugman supports him)

http://en.wikipedia.org/wiki/Bernanke_Doctrine

A conservative will hardly admit deflation is a problem. They complain about inflation instead.

[Vincardog]

11. That whole discussion ignores the full employment requirement of the FED.

[MrCoffee]

5. Oh please

Bullshit Ben should be counted among the chief architects of the collapse.

[banned from Kos]

10. You're thinking of Greenspan. n/t

Bernanke became Fed Chair in 2006. No one could have stopped the bubble by then.

[Rex]

13. Had plenty of time in 2006.

No one wanted to stop our failing economy. All they cared about was personal wealth and not the state of the nation.

[banned from Kos]

14. 2006 - right at the top of the bubble (see below). We were screwed by then.

[MrCoffee]

18. I'm pretty sure I'm thinking of AIG/Merrill Lynch/Lehman/TARP

Bernanke is all about taking care of his friends.

[banned from Kos]

19. AIG and Lehman failed and the owners were wiped out. Merrill was sold for a song.

How were they "taken care of"?

[CAPHAVOC]

2. He keeps calling this disaster a recovery.

[MrCoffee]

6. Just put on a happy face!

[CAPHAVOC]

15. I got a Grin! Does that count...

[L0oniX]

8. First of all Mr Bernankmoron, it was caused by asscarrots like you who used...

the repeal of the Glass-Steagall Act to commit moral crimes against our country. Some credit goes to Mr Bill for signing the repeal.

[cthulu2016]

9. "Bungling Ben"? Bullshit.

Since of all persons in positions of power "Bungling Ben" has had a better idea what the F was going on throughout this debacle it's odd to try to lay it on his head.

He has run rings around both congress and the executive branch for comprehension and *actually trying to do stuff* within the limits of his powers.

If it were not for "Bungling Ben" we would be headed for a depression and President Obama would have zero chance of re-election.

Do you relaize that there are "important" and powerful people -- lots of them -- who think the Fed needs to raise rates, who thought quantative easing would lead to massive inflation...

Jesus. We got so lucky with Bernanke. By the very limited standards of people who could ever end up as Fed chair he's done an amazing job.

[banned from Kos]

12. Thank you. I rarely just add a superfluous post like this.

The Credit Crash was extraordinary.

McDonalds needed the Fed's CPFF program to make PAYROLL for crying out loud.

[CAPHAVOC]

16. He has been trying to get inflation going with no success.

[banned from Kos]

17. Because the two biggest components of inflation, wages and real estate, are still in deflation

mode.

[ananda]

20. Housing: Blame Bernanke for this lousy recovery ...

... would make much more sense.

[DonCoquixote]

21. Him and his fellow ayn rand cultists

Like Greenspan et al.

They wrecked Housiong by allowing scum to use our money as poker chips.