Ben Bernanke Federal Reserve gloomy forecast, August 1, 2012, US economy decelerated, Disappointing jobs reports and sharp slowdown in US growth
“The United States economy has lost more jobs than it has added since the recovery began over a year ago.”…NY Times Sept. 20, 2010.
“We tried our plan—and it worked. That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”…Barack Obama
“Because I’m capping greenhouse gases, coal power plants, you know, natural gas, you name it — whatever the plants were, whatever the industry was, uh, they would have to retrofit their operations. That will cost money. They will pass that money on to consumers.”…Barack Obama
From the Guardian August 1, 2012.
“Fed gives gloomy forecast on US recovery but no new stimulus yet”
“Fed chairman Ben Bernanke has consistently said that he is not ruling out direct action in the event of a stalling economy. Photograph: Karen Bleier/AFP/Getty Images
The US Federal Reserve signalled on Wednesday that it is increasingly worried about America’s fragile economic recovery – but once more stopped short of taking direct action.
After a two-day meeting, Fed officials said the economy had “decelerated somewhat” over the first half of the year, and gave a stronger signals they may take further action as they keep a close watch on the US recovery.
Weakness in the US economy has been underlined since the last Fed meeting by disappointing jobs reports and a sharp slowdown in US growth, which had led to speculation that the Fed might act. After two days of falls US stock markets had rallied ahead of the statement as investors expected action. But the Dow Jones turned negative when it became clear no action would be forthcoming.
“The committee will closely monitor incoming information on economic and financial developments, and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability,” the central bank said in a statement issued at the end of the Federal open market committee’s (FOMC) two-day policy meeting.
Fed chairman Ben Bernanke has consistently stated that the Fed is considering further action should the recovery appear to be stalling.
There were fresh signs of weakness on Wednesday as a key poll showed economic activity in the manufacturing sector contracted in July for the second month in a row after 34 consecutive months of expansion. The Institute of Supply Management’s purchasing managers index (PMI) – which measures the acquisition of goods and services – stood at 49.8% in July, barely moving from June’s reading of 49.7%. The index must be above 50% to indicate growth.
Dan Greenhaus, chief global strategist at BTIG, said the Fed was “clearly on a knife’s edge with respect to providing additional stimulus”. Fed statements are parsed line by line for indications of change in policy.
In a note to clients, Greenhaus wrote: “Importantly, the first sentence in the FOMC statement, which noted in June that ‘the economy has been expanding moderately this year’ now says that ‘economic activity decelerated somewhat over the first half of this year.’
“They note that ‘household spending has been rising at a somewhat slower pace than earlier in the year’ while ‘inflation has declined since earlier this year.’ All told, the Fed clearly took down its assessment of the current economic situation.”
Ken Goldstein, an economist at the Conference Board in New York, said the Fed was in a fix. Republicans have already criticised the Fed’s actions and are likely to pounce on any action from the Fed ahead of November’s election.
“This is going to get increasingly political as the election approaches,” Goldstein said.
Goldstein said the economy seemed to be “muddling along rather than falling off a cliff,” and that he believed the Fed was unlikely to act unless evidence of a severe weakening in the US economy emerged.
With economy emerging as the key battleground of the 2012 election, economic indicators have seldom been more closely watched. Last week the commerce department announced that US gross domestic product (GDP) – the broadest measure of an economy’s health – stood at 1.5% in the second quarter, down from 2% in the prior three months, and 4.1% in the fourth quarter of 2011.”
Read more:
http://www.guardian.co.uk/business/2012/aug/01/fed-us-recovery-stimulus?newsfeed=true
Citizen WElls 
How about we just SHUT IT DOWN……
Reality Check: Do We Really Need To Audit The Federal Reserve?
http://www.youtube.com/watch?v=mqmYRnBVmEo
Ben Bernanke Federal Reserve gloomy forecast, August 1, 2012, US economy decelerated, Disappointing jobs reports and sharp slowdown in US growth
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Now that Obamascare is going forward, the economy will only get worse, as business owners brace, and position themselves, for this massive tax increase, and the government sticking it’s nose into everybody’s business.
Hey All,
Not sure, but I’m thinking the Country is headed for a complete meltdown as far as it’s currency is concerned.
But they can keep on printing the worthless stuff, and charging zero percent interest on worthless paper.
bob,
Not only the Obamacare taxes, Obama wants the Bush tax cuts to expire in December. Not sure if this was part of the “compromise” yesterday to avoid a Government shut down, I thought the tax cuts were tied to unemployment extension a couple years ago. Oh and by the way, the Government will ONLY spend 1.1 TRILLION more than it brings in next fiscal year, but the “compromise is only for 6 months, how can it be that they can tell us what the deficit will be for the whole year, when their “compromise” is only good for 6 months, from October 1 until March? Anyone????
So business owners are about to get a double “whammy”, IF the tax cuts are allowed to expire.
I know this is off topic, but for goodness sake, how low will Harry Reid go?
http://michellemalkin.com/2012/08/01/reid-romney/
He’s spreading rumors heard in a phone call from someone who he doesn’t even know?
The indoctrination continues, just spread lie after lie until the lie is spewed as if it’s the truth.
Like if you are born in the United States, no matter the citizenship of your parents, then you are eligible to be President.
Or that the Constitution is the law of the land……….yeah right.
EAT MOR CHIKIN
JS,
I would put money that the Audit the Fed bill will NEVER see the light of day in the Senate.
But Paul did the right thing to keep bringing the bill up. It would have been better if it would have passed the many times it was brought to committee back in the 90’s however.
I hope I’m wrong.
IB……….Re 8:08 PM…
What do you expect from something that lives under a rock?
IB……….
As the election draws nearer you are probably going to see more and more Chick-Fil-A type of complete insanity. Hell, Now the mayors of TWO sexual deviate centers are trying to THREATEN the owner of Chick-Fil-A from opening stores in San Francisco,and Boston, both cities are notorious centers of SEXUAL DEVIATES. And in all probability both mayors are “VERY GOOD FRIENDS” of BAWNEY FWANK. All of these people are a sort who keep a TUBE OF VASELINE,and a BAR OF SOAP in their pockets 24/7. These items are essential for playing DROP THE SOAP.
It is alleged that annoucements of Obama’s Hawaii birth were placed in two Hawaii newspapers, the Honolulu Advertiser and the Star Bulletin, and I believe the dates posted for both were Sunday, August 13, 1961. (Please correct me if the annoucements in the two newspapers did not appear on the same day.) But something really odd strikes me about all this. Why has no actual, original, copy of either of these newspapers shown up anywhere? Where are they? Surely someone somewhere must have an original of one or both of the issues of these newspapers. Surely there must be a library somewhere, or some private citizen, that has genuine copies of these issues. But where are they? Why have none turned up?
This is the single biggest issue in this story so far that keeps leading me to believe something is fishy with this. Surely by now someone would have produced a genuine original newspaper providing definitive proof that the birth announcements actually ran as the Obama team is reporting. That none have so far been produced leads me to believe that there is a problem in the story.
IB…………..
I am wondering what people like MMMMSSSS. Harriet Reid will do when the national debt reaches the QUADRILLIONS. Their money will ALSO BE WORTHLESS. I wonder if Harriet has given any thought to that.
I like this idea a lot.
http://www.csmonitor.com/Commentary/Opinion/2012/0801/The-best-pick-for-Romney-vice-president-The-one-no-one-s-talking-about
Gianni………….
There are libraries in the US who specialise in the preservation of past issues of Newspapers from all over the world. They once reduced the pages and put each page on microfilm. I would think that they use computers now to store such data. It is possible that even the LDS Church,at Salt Lake City,might have a copy of such newspapers. I seem to remember somebody on this blog stating that the Library of Congress has copies. I don’t remember who posted the information, but I seem to remember it having been posted that the info was found there. I find myself a bit skeptical about that though because when did it become important for the library of Congress to collect samples of world newspapers.
I.B.,
I also agree Ron Paul’s bill to audit the fed was the correct thing to do, as well as his aggressive fight not to give up on it.
However, like you, I have some doubts as well. First, I don’t think the Fed is going to allow a full audit, even if it’s the law. They will pull an Eric Holder big time. There will be more “Black–out” lines on the Fed Audit than that of a UFO report. In the name of national security of course. 🙂
Philo-Publius | August 2, 2012 at 8:37 am |
http://sphotos-b.xx.fbcdn.net/hphotos-
ash3/557027_331484790272902_1569286322_n.jpg
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Philo, let’s hope so!
Left-Wing Activists Admit Allen West Terrifies Them
“If we don’t take him down now, he’s raising millions of dollars, and he’s going to set what the new normal is for the Republican Party.”
http://pjmedia.com/blog/left-wing-activists-admit-allen-west-terrifies-them/2/
Philo-Publius | August 2, 2012 at 8:37 am |
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Philo, let’s hope so.
First post failed.
Rush To Ancestry.com: Find Obama’s College Transcripts And B.C.
http://www.westernjournalism.com/
This is great, and funny stuff from Rush. Too bad it’s true. Slave trade in Kenya?
http://www.youtube.com/watch?v=5rIOxv3ls7E&feature=player_embedded
Jonah | August 2, 2012 at 10:03 am |
Left-Wing Activists Admit Allen West Terrifies Them
“If we don’t take him down now, he’s raising millions of dollars, and he’s going to set what the new normal is for the Republican Party.”
http://pjmedia.com/blog/left-wing-activists-admit-allen-west-terrifies-them/2/
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Jonah,
Good, that they are scared of West, and the truth. It is fitting that the liberals are in panic mode, and are getting more desperate every day.
They used to be the democrat party, now it has been taken over by the communists, and they have good reason to be afraid of West.
The Most Important Press Conference Ever Held at Any Time in U.S. History: Part I
Wednesday, 01 August 2012 00:00 James Simpson
2955 readings
By James Simpson for Right Side News
The Vetting: Obama, Radical Islam and the Soros Connnection
http://giveusliberty1776.blogspot.com/
Bob,
It’s apparent why this Most Important Press Conference didn’t get more news coverage. It was held July 19th at the National Press Club, and this is the first I’ve heard of it. It is loaded. Thanks for the link.
Gianni | August 2, 2012 at 12:21 am —
oldsalt79 | August 2, 2012 at 12:40 am —
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Comment by ladysforest at ORYR:
http://obamareleaseyourrecords.blogspot.com/2012/04/cbs-news-video-child-in-hawaii-had.html?showComment=1335631615301#c4342309294843748925
myveryownpointofview said…
“Ahh……those birth announcements again. Listen to me please; not every child whose birth was registered in Honolulu was announced in the newspapers. FACT.
Some were announced in both papers, some in only one paper. Some, not at all. Then – as now – a simple announcement could be requested by a family member. Now, however, the newspaper claims you will need to provide proof before they will print the announcement.
There used to be an archive maintained by the newspapers that was available to the public. That was “closed” to the public around the same time as the announcements were “discovered”.
And oh yes, we were able to prove that the stories by both Lori Starfelt and “KOA” about their amazing first ever discoveries of the obama birth announcements were complete fabrications. Why fabricate the story of the discovery if the material is 100% legit?”
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“UPDATE 7/18/2012 UPDATE BELOW”
“The image below was provided to me a few days ago by GregNH – a reader here. He was in HI, and doing research on an unrelated issue, but noticed a little something unusual:”
http://myveryownpointofview.files.wordpress.com/2010/05/gregs-film-box.jpg?w=746&h=591
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ladysforest @ myveryownpointofview:
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“Round Pegs In Square Holes”
“This is a well intentioned attempt to abbreviate my post “Extra, Extra, Announcing Obama’s Birth”.
*After the first postings of the freshly discovered obama birth announcements, many noticed that the appearance of the obama announcements changed considerably over a short period of time. Much like the COLB did. The examples of this are in the original post,
[—]
*The microfilm box in the Library Of Congress, Star Bulletin Aug 1-15, 1961, had the original reference numbers scribbled out. If you were to look closely, you’d notice that it appears there was an attempt made to alter the original numbers…like when you got a D on a report card and tried to change it to a B. At some point the altered numbers were scribbled over and rewritten in black ink. Out of a total of roughly two dozen film boxes that I handled this was the only box that was so altered.”