Ben Bernanke Says

[Skeeterman]

Federal Reserve Chairman says recession is likely over.What do you guys think? Is it over?

[biteme]

No, the world is falling,lol

[Rod Martin]

I think I'll wait for the people without jobs to say its over

[2ndsuks]

It's not even close to being over.
We have a second wave of foreclosures coming, those 5yr ARMs are on their way.
When we start seeing positive unemployment numbers, I’ll think about exhaling.

[Skeeterman]

Not only the 5 year arm coming up but people losing there jobs are sooner or later they will lose there houses.

[2ndsuks]

Not only the 5 year arm coming up but people losing there jobs are sooner or later they will lose there houses.

+1

[Greg_Cornish]

Hell no! They are trying to bolster consumer confidence. America has lived on on credit run economy for 20 years. Its time to pay the piper. I had a credit limit of 12,000 on my discover card. I had $6000 charged for my cancer surgery etc etc. I haven't missed any payments on anything in 10 years. I just inherited $100,000.

I paid my 6,000 off Discover Card.

3 weeks later I get a letter saying my credit limit was being dropped to $500 LOL The day before I this I had charged, $541. I called and they upped my limit to 700.

It's getting scary. Overnight for no reason my rating dropped from 750 to 695

People better start getting used to a cash and carry economy like the old days. Fortunately I don't need credit anymore or at least at the moment.

[Dan McKenzie]

I think they want us to believe its over, they want us to try and spend our way out of this mess, but I don't believe we can or should. And screw cash, I'll take gold.

[Delta is beast]

seriously. i dont get why people use credit cards. credit catches up to toomany people. if you have the cash ur spending money you have!!

[biteme]

seriously. i dont get why people use credit cards. credit catches up to toomany people. if you have the cash ur spending money you have!!

To order online!

[Greg_Cornish]

seriously. i dont get why people use credit cards. credit catches up to toomany people. if you have the cash ur spending money you have!!

To order online!

Comes in handy when you have cancer.

[Delta is beast]

yes that is pretty much your only need. but people use it at stores too. that is absolutely pointless unless you are handicapped. thats just being lazy instead of going to the bank. and someone might say o well you waste gas. o well your going into debt while using a credit card

[Greg_Cornish]

Did you pay cash for your house?

[smittyfish]

The recession is not even close to being over. We joke about that at work all the time. We knew it was coming before it got here because the industry just dried up. Last time I looked at our bid list we had no job on the list in the LA and Ventura county areas.

I think it is just wishfull thinking. If they can say that enough then some people will believe them and start spending.

I'm like Dan, cash is trash. I have bought a lot of gold and silver in the last couple of years. At least it will always have value as the dollar sinks out of sight.

[Vince E]

If they take a lesson from the Romans as they were falling they will continue to saturate the economy by printing more and more cash, which they will insist we take as payment for goods and services and then in turn demand our taxes be paid in bullion.

I'm raising chickens so I can stock up on bullion.



Screw gold and silver.
Livestock and ammo will get you further. Wish I had bought a farm when I was young.