Fed Chairman Bernanke: US Risks Massive Unemployment

Addressing the 6th ECB (European Central Bank) Central Banking Conference on Thursday evening in Frankfurt, Ben Bernanke, Chairman of the US Federal Reserve Board, defended the Fed's latest actions to try to boost growth, offering a blunt argument that the steps were needed to keep the US economy growing and, by extension, to keep the global recovery on track.

Bernanke argued that the action was essential to reduce joblessness and maintain a strong dollar over the long run.

On its current economic trajectory, the United States runs the risk of seeing millions of workers unemployed or underemployed for years, Bernanke told the audience. As a society, we should find that outcome unacceptable, he added.

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[Out9922]

This guy needs to go back to economics 101

[btrask3]

Private Bankers who operate our Federal Reserve should not be meddling in GLOBAL missions and forming a NEW WORLD ORDER without the consent of the American People. PRINTING Trillions of Dollars hurts Americans. Allowing this money to go to PROP UP FAILING FOREIGN Governments is Treasonous. Shuttering American Manufacturing, ceding Family farms to Global Corporations, Strapping the entrepreneurial spirit with bureaucratic paperwork has crippled the entrepreneurial spirit of the USA.

[88roro11]

QUIT TAKING RUINING MY MONEY

[88roro11]

@vlada881 im about to do the same thing

[vlada881]

i hit dislike 1000 times

[ericpadden]

You know how you can tell if the Bernank is lying ? His lips are moving ... He is telling us that his goal is to devalue the dollar at 2% a year yet he has doubled the money supply in the last three years. Sounds more like he wants to devalue the dollar by 50%. I recommend Buying precious metals and stocking up on food reserves while your dollar still has some purchasing power.

[0ct0ct09]

Lets not forget it was the US subprime mortgage and the love of spending what they do not have that got the entire world into this big recession mess. American love their credit cards, buy now pay latter attitude at 20+ % and US is still selling its junk bond to the rest of the world to fund their military, governments, etc.

As Obama has said during the election. American should live within thier means.

[tylrjsph]

Look satan himself