BBC NEWS | Business | Obama suggests recession easing
The Obamarama has suggested the reccession is easing. If this is true, i see no such thing, infact i see everything getting worse. Chances are he has economic statistics on his desk in the oval office we havent had the chance to get our hands on yet that proves his case, but i havent seen any evidence of it.US President Barack Obama has said there are "signs of economic progress" but underlined that times remain tough.
Separately Federal Reserve head Ben Bernanke talked of "tentative signs" that the contraction rate was calming.
But both men, speaking independently to students, said recovery would take time and more job losses would follow.
This doesnt seem to me like job losses, more repossessions and pain will pave the way for recovery, it just sounds like it will exagerate the problem, otherwise the cause of this entire meltdown would have well been gone and done with by now, considering we have seen alot of job losses and pain over the past year or so.He also said 2009 would be a hard year for the US economy, when there would be more job losses, more repossessions and "more pain before it ends".
Just comforting words, or do they have real substance?