Ben "Satan's Spawn" Bernanke, also known as Helicopter Ben said today that "From a technical perspective, the recession is very likely over at this point."
I ran this video before in July, but in light of the prediction the great Bernanke made today, it is worth a repeat.
So why do we listen to this guy? Why is he being reappointed to the Federal Reserve?
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I thought the whole purpose of the Federal Reserve was to prevent crashes. Then again, that may be over the heads of even the Baby Boomers as the Federal Reserve was established before even the so-called Greatest Generation.
But no, the recession is not over. The economy has been propped up with Cash for Clunkers and tax credits for new home buyers. As soon as the next round of repossessions and foreclosures comes around, Bernanke will look like a fool.
But no one in the media will question him.
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