Tuesday, March 10, 2009

I HOPE BERNANKE IS CORRECT

In a news briefing after a speech at the Council on Foreign Relations, Fed Chairman Bernanke had some encouraging words:
Bernanke said if government efforts to stabilize banks are successful then "there is a good chance the recession will end later this year, and that 2010 will be a period of growth."

On the other hand, there is still reason to be worried (via Atrios):
A Gloomy Outlook for Home Sales’ Big Season
By VIKAS BAJAJ
Published: March 6, 2009
NY Times

Across the nation, 19 million houses and apartments — nearly one out of every seven — are vacant, the highest percentage since the 1960s. But only about six million of those homes are for sale or for rent. That means millions more could still flood onto the market, depressing prices further.

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