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theeconomiccollapseblog.com April 26, 2012 Federal Reserve Chairman Ben Bernanke says that we should trust himbecause the Federal Reserve stands ready to do whatever isnecessary to support the U.S. economy. "If appropriate... we remain entirely prepared to take additionalaction" The Economic Collapse Blog says that Federal Reserve Chairman BenBernanke is doing a great disservice by not warning the Americanpeople about the tremendous crisis that is coming. In a recentarticle I stated that this next crisis will blindside mostAmericans just like the last one did... "Sadly, just like back in 2008, most people will never even seethis next crisis coming." So who should you trust - the Federal Reserve or all of thehalf-crazed bloggers out there that are warning about the "seriousdoom" that is coming. Well, come back to this article in a year or two and compare howaccurate the predictions were. In the end, time will tell who is telling lies and who is not. If we do not learn from history, we are doomed to repeat it. For example, let's take a quick look at Ben Bernanke's track recordover the past several years. The following are statements that Bernanke actually made to thepublic.... #1 (July, 2005) "We ve never had a decline in house prices on anationwide basis. So, what I think what is more likely is thathouse prices will slow, maybe stabilize, might slow consumptionspending a bit. I don t think it s gonna drive the economy toofar from its full employment path, though." #2 (October 20, 2005) "House prices have risen by nearly 25 percentover the past two years. Although speculative activity hasincreased in some areas, at a national level these price increaseslargely reflect strong economic fundamentals." #3 (November 15, 2005) "With respect to their safety, derivatives,for the most part, are traded among very sophisticated financialinstitutions and individuals who have considerable incentive tounderstand them and to use them properly." #4 (February 15, 2006) "Housing markets are cooling a bit. Ourexpectation is that the decline in activity or the slowing inactivity will be moderate, that house prices will probably continueto rise." #5 (February 15, 2007) "Despite the ongoing adjustments in thehousing sector, overall economic prospects for households remaingood. Household finances appear generally solid, and delinquencyrates on most types of consumer loans and residential mortgagesremain low." #6 (March 28, 2007) "At this juncture, however, the impact on thebroader economy and financial markets of the problems in thesubprime market seems likely to be contained. In particular,mortgages to prime borrowers and fixed-rate mortgages to allclasses of borrowers continue to perform well, with low rates ofdelinquency." #7 (May 17, 2007) "All that said, given the fundamental factors inplace that should support the demand for housing, we believe theeffect of the troubles in the subprime sector on the broaderhousing market will likely be limited, and we do not expectsignificant spillovers from the subprime market to the rest of theeconomy or to the financial system. The vast majority of mortgages,including even subprime mortgages, continue to perform well. Pastgains in house prices have left most homeowners with significantamounts of home equity, and growth in jobs and incomes should helpkeep the financial obligations of most households manageable." #8 (January 10, 2008) "The Federal Reserve is not currentlyforecasting a recession." #9 (June 10, 2008) "The risk that the economy has entered asubstantial downturn appears to have diminished over the past monthor so." But don't worry, Ben Bernanke insists that he knows exactly what isgoing on this time. So do you believe him?. The e-commerce company in China offers quality products such as AC Vent Fan , Brushless DC Fan, and more. For more , please visit AC Axial Fans today!
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