Report: Economists Say Recession Over, Want Bernanke to Stay.
Economists date the start of the recession to December 2007 -- defining much of Ben Bernanke's term as Federal Reserve chairman -- and a majority in a Wall Street Journal survey agree that the recession is coming to an end.
Tuesday, August 11, 2009
Obviously I'm not an economist, so I'm curious as to what you all think of this? Do you think those interviewed by the WSJ are full of it? Do you all believe any of this can be attributed to Obama's policies/appointments?Is the recession over? Economists polled by the Wall Street Journal say yes, and they suggest that's a big reason why Federal Reserve Chairman Ben Bernanke should stay.
The Journal reports that the experts are overwhelmingly in favor of President Obama asking Bernanke to stay on for another four-year term when his current term ends Jan. 31. Bernanke has been a key figure in the government's efforts to reverse the country's economic meltdown, a role that has earned him some criticism but also praise for handling of the crisis.
Economists date the start of the recession to December 2007 -- defining much of Bernanke's term, which started in early 2006 -- and a majority agree that the recession is coming to an end.
Bernanke "deserves a lot of credit for stabilizing the financial markets," Joseph Carson of AllianceBernstein told the Journal.
You always hear "it happened on his watch, it's his doing." An example that is recent would be the DOJ issues regarding the voter intimidation issue.
So in this case, if you give any credence to these claims by economists as reported by Fox and the WSJ, do you associate this with President Obama? If not, why? If you don't lend any credence to these claims, please explain why you don't.
Personally I'm going to have give the nod to the economists on this. I can't prove them wrong so I'll agree I think it's starting to turn around. But I have no idea if Obama's policies had anything to do with this. That said, since he gets credit for things other people do when they screw up, I'll have to wonder if his detractors give him credit for this whether or not he actually had anything to do with it. Seems only fair right?