Bernanke Warns of Possible Recession
Fed chairman Ben Bernanke dropped a bombshell today when he said there was a chance that the US economy could go into a recession. This news is both shocking and devastating. “A recession is possible,” said Bernanke, who is under immense political and public pressure to turn things around. “Our estimates are that we’re slightly growing at the moment, but we think that there’s a chance that for the first half as a whole there might be a slight contraction.”
Now there is a big difference between a slight contraction and a serious situation where people are losing their homes and jobs and some people are struggling to put food on the table, but the thought of a recession after the booming economy we’ve gotten spoiled by is worrying. I have complete faith in Bernanke and Bush to make sure it never comes to that.
