More from Bernanke's prepared testimony: The overall gist is less dovish than those hoping for...


More from Bernanke's prepared testimony: The overall gist is less dovish than those hoping for more Fed candy may have hoped. He says the "apparent slowing" in the labor market may have much to do with seasonal adjustment issues and the weather. Consumer sentiment: Up from last year. Exports: Holding up well despite Europe. Energy: Lower prices providing lift to purchasing power.

Comments (6)
  • Lint
    , contributor
    Comments (385) | Send Message
     
    "He says the "apparent slowing" in the labor market may have much to do with seasonal adjustment issues and the weather. "

     

    Playing the American public for fools yet again, eh Chopper Ben? While that may not be a big reach, the math will come home to roost for the interventionists (fraudsters?)...who will wave off the criticism with the often repeated word "unexpected".

     

    Pathetic and should be ILLEGAL.
    7 Jun 2012, 10:20 AM Reply Like
  • DettoTheSecond
    , contributor
    Comments (32) | Send Message
     
    what do you expect when the employment numbers have been so heavily fudged and padded to the upside for the last 7 months? What should have been negative numbers in NFP turned out to be a gain of +69k jobs last month due to "seasonal adjustments" (AKA fudge factors)
    7 Jun 2012, 10:34 AM Reply Like
  • kwm3
    , contributor
    Comments (2454) | Send Message
     
    +69,000 -- 377,000= (--308,000)

     

    NET counts.
    NET says it all.

     

    Anecdote:
    I have a number of highly-educated, experienced professional friends who were "hand raisers" (i.e., volunteers for lay off) at a fortune 50 pharma company for the benefit of enhanced severance--rather than risk a layoff later with much less severance. They assumed the job market would turn or their valuable skills would be in demand. They are now scared shitless, and one has terrible nightmares. It's far far worse than they could have dreamed of.
    7 Jun 2012, 02:36 PM Reply Like
  • Stoploss
    , contributor
    Comments (1713) | Send Message
     
    Ben, It's a labor market DEPRESSION...............

     

    Sweep the 16 to 34 age group and see what you find.

     

    And for fuck sakes stop lying!
    7 Jun 2012, 10:35 AM Reply Like
  • Tack
    , contributor
    Comments (15911) | Send Message
     
    Only those completely ignoring both economic/corporate performance data and the Fed's own words since last June, when QE2 ended, could have expected more QE, now.

     

    Oh, and kiss gold goodbye.
    7 Jun 2012, 10:46 AM Reply Like
  • enigmaman
    , contributor
    Comments (2777) | Send Message
     
    Bernanke also said in another statement, paraphrase " to raise taxes will push the US economy over the cliff, he wants and has said that the Bush tax cuts need to be extended" so he believes the economy is still moving forward and doesn't believe it will require QE3 but is ready " The Fed is ready to act to protect the financial system and U.S. economy in the event stresses escalate" in other words if Obama does in fact let the bush tax cuts expire
    7 Jun 2012, 02:33 PM Reply Like
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