business

Bernanke offers no hints of further aid to economy

9 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

©2021 GPlusMedia Inc.

9 Comments
Login to comment

that he’s surprised by how cautious consumers remain more than two years since the recession officially ended.

infact, consumers are surprised how does govt 'officially' decide about end of recession........by taking into account media help and flawed data? Bernanke offers no hints of further aid to economy, because not only Bernanke but G7 has exhaused all options...where to look...? ask an economy expert.

0 ( +0 / -0 )

First area that I would look spending cuts is in defense. U.S. spends $700 billion annually, and they they should look into efficiency in defense and plan a massive cuts and bring troops home. After many billions spent on bailout of the banks in 2008 by the goverment, they are in no position to take any measures. The deep funds are not available. The problem is that major banks such as B of A and Wells Fargo that holds majority of home loans are in sick state and they are in no position to expand their lending practice. They still have continous foreclosure problem. Most consumer who purchased the home within last ten years had 30-40 percent appreciation on the home value but with the downturn in real estate prices, they practically lost everything, and still has the second loan outstanding. There are fewer people with outstanding credits that are in position to borrow money and expand. Until the employment situation gets better, I doubt U.S. will see much change. This will last another 5-7 years. Give Republicans a chance in 2012.

0 ( +0 / -0 )

No one has an answer

0 ( +0 / -0 )

No one has an answer

except G.W. Bush !

0 ( +0 / -0 )

@ sfjp330 : the US is a heavily war-based economy. Cutting military spending is not the answer.

@ JapanGal : There is an answer: Part 1) indebted nations of the world get together and cancel off as much of each others' debs as possible; Part 2) reset the indebted nations' currencies to be in-line with each country's real value, i.e. assets, GDP, etc. But the part 2 would be VERY painful for many.

The thing to realize is that the modern fiat currencies are completely fabricated by humans. They are human constructs that are no longer pegged to real assets. How else could the value of all the Credit-Default-Swap markets total 650 trillion US dollars, when the total value of all assets throughout the world is only approximately 300 trillion?.. Therefore it can be arbitrarily adjusted. The point is to carefully adjust it so that we don't cause wars, famine, etc.

-1 ( +0 / -1 )

"higher gasoline prices"

Drill Baby drill!

-1 ( +0 / -1 )

NonanonSep. 09, 2011 - 07:06PM JST. @ sfjp330 : the US is a heavily war-based economy. Cutting military spending is not the answer.

If you didn't know, U.S. goverment is cutting back $80 billion in military budget over next five years. Your reply of "cutting back military spending is not the answer" , if U.S. maintains the same level of the defense, the cost will double in 12-15 years. Is this substainable for U.S. to increase spending from current $700 billion to $1.4 trillion in year in 2025 and maintain close to 1,000 bases throughout the world? The cost will be close to 10 percent of the entire annual U.S. GDP that goes into defense? How ridiculous.

0 ( +0 / -0 )

The recession is officially over?

0 ( +0 / -0 )

@ sfjp330: It's not a question of spending on military being ridiculous or not, it's about reviving a faltering economy. Personally I don't think it's the best spend of the money, and history proves that nations with large standing armies collapse.

-1 ( +0 / -1 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites