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Fed Chairman Is Optimistic About U.S. Economy

Fed Chairman Is Optimistic About U.S. Economy

Old Feb 14th 2007, 4:43 am
  #1  
Earl Evleth
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Default Fed Chairman Is Optimistic About U.S. Economy

Wednesday February 14, 10:16 AM EST


WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress
Wednesday that the economy should grow modestly this year despite
lingering pain from a housing slump and he stuck to the Fed's forecast
that inflation will continue to ebb.

Still, Bernanke wasn't prepared to declare victory and close the door
on the possibility of further interest rate increases. Even with
recent improvements in "core" or underlying inflation, the situation
remains "somewhat elevated," he said. Core inflation excludes the more
volatile categories of energy and food.

Bernanke, delivering the Fed's first economic report for 2007 to
Capitol Hill, offered a mostly upbeat assessment of the economy's
outlook. Besides improvements on the inflation front, the Fed chief
also cited some signs of stabilization in the ailing housing market.

"Overall, the U.S. economy seems likely to expand at a moderate pace
this year and next, with growth strengthening somewhat as the drag
from housing diminishes," the Fed chief said in prepared remarks to
the Senate Banking Committee.

Currently, interest rates are at a level that is "likely to foster
sustainable economic growth and a gradual ebbing of core inflation,"
he added.
 
Old Feb 14th 2007, 5:41 am
  #2  
GW Chimpzilla's Eye-Rack
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Default Re: Fed Chairman Is Optimistic About U.S. Economy

Earl Evleth wrote:

> Wednesday February 14, 10:16 AM EST
>
>
> WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke told Congress
> Wednesday that the economy should grow modestly this year despite
> lingering pain from a housing slump and he stuck to the Fed's forecast
> that inflation will continue to ebb.

If inflation was measured the same way it was in the 1970s, it would stand at an
even 10%

The housing slump is far from hitting bottom -- foreclosures were up 25% in
January. The unregulated housing loan market has imploded badly: more than 21
subrime lenders have recently closed their doors. <http://ml-implode.com/>.

Americans savings rate has fallen below zero.

The trade deficit is at an all-time high. Global oil production peaked in May,
2005.

The economy is fundamentally flawed.
>
> Still, Bernanke wasn't prepared to declare victory and close the door
> on the possibility of further interest rate increases. Even with
> recent improvements in "core" or underlying inflation, the situation
> remains "somewhat elevated," he said. Core inflation excludes the more
> volatile categories of energy and food.
>
> Bernanke, delivering the Fed's first economic report for 2007 to
> Capitol Hill, offered a mostly upbeat assessment of the economy's
> outlook. Besides improvements on the inflation front, the Fed chief
> also cited some signs of stabilization in the ailing housing market.
>
> "Overall, the U.S. economy seems likely to expand at a moderate pace
> this year and next, with growth strengthening somewhat as the drag
> from housing diminishes," the Fed chief said in prepared remarks to
> the Senate Banking Committee.
>
> Currently, interest rates are at a level that is "likely to foster
> sustainable economic growth and a gradual ebbing of core inflation,"
> he added.

--
There are only two kinds of Republicans: Millionaires and fools.
 
Old Feb 14th 2007, 6:14 am
  #3  
-Viking
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Posts: n/a
Default Re: Fed Chairman Is Optimistic About U.S. Economy

On Wed, 14 Feb 2007 18:41:16 GMT, GW Chimpzilla's Eye-Rack Neocon
Utopia <[email protected]> wrote:

>If inflation was measured the same way it was in the 1970s, it would stand at an
>even 10%

Any cite for that? I think it's higher--12% to 16%.
 
Old Feb 14th 2007, 6:18 am
  #4  
"Bill Bonde ( Not endorse
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Default Re: Fed Chairman Is Optimistic About U.S. Economy

Viking wrote:
>
> On Wed, 14 Feb 2007 18:41:16 GMT, GW Chimpzilla's Eye-Rack Neocon
> Utopia <[email protected]> wrote:
>
> >If inflation was measured the same way it was in the 1970s, it would stand at an
> >even 10%
>
> Any cite for that? I think it's higher--12% to 16%.
>
It's actually about 300% a day. Don't you see the folks with their
billion dollar note filled wheelbarrows heading off to do someone's wall
paper, or to buy a chiclet?



--
Thus, if the problem of technological hopelessness is caused by absence
of care, both by technologists and anti-technologists; and if care and
Quality are external and internal aspects of the same thing, then it
follows that what really causes technological hopelessness is absence of
the perception of Quality in technologists and anti-technologists.
Robert Pirsig, "Zen and the Art of Motorcycle Maintenance"
 
Old Feb 14th 2007, 6:18 am
  #5  
-Viking
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Default Re: Fed Chairman Is Optimistic About U.S. Economy

On 14 Feb 2007 09:43:47 -0800, "Earl Evleth" <[email protected]>
wrote:

>Even with
>recent improvements in "core" or underlying inflation, the situation
>remains "somewhat elevated," he said. Core inflation excludes the more
>volatile categories of energy and food.

And housing. And insurance. And entertainment. And just about
everything else. Tracking inflation as general cost-of-living
increases, we believe it's actually running at 12% - 16%. Your
comments?
 
Old Feb 14th 2007, 6:20 am
  #6  
"Bill Bonde ( Not endorse
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Default Re: Fed Chairman Is Optimistic About U.S. Economy

Viking wrote:
>
> On 14 Feb 2007 09:43:47 -0800, "Earl Evleth" <[email protected]>
> wrote:
>
> >Even with
> >recent improvements in "core" or underlying inflation, the situation
> >remains "somewhat elevated," he said. Core inflation excludes the more
> >volatile categories of energy and food.
>
> And housing. And insurance. And entertainment. And just about
> everything else. Tracking inflation as general cost-of-living
> increases, we believe it's actually running at 12% - 16%. Your
> comments?
>
Who is 'we'?


--
Thus, if the problem of technological hopelessness is caused by absence
of care, both by technologists and anti-technologists; and if care and
Quality are external and internal aspects of the same thing, then it
follows that what really causes technological hopelessness is absence of
the perception of Quality in technologists and anti-technologists.
Robert Pirsig, "Zen and the Art of Motorcycle Maintenance"
 
Old Feb 14th 2007, 7:36 am
  #7  
GW Chimpzilla's Eye-Rack
Guest
 
Posts: n/a
Default Re: Fed Chairman Is Optimistic About U.S. Economy

Viking wrote:

> On Wed, 14 Feb 2007 18:41:16 GMT, GW Chimpzilla's Eye-Rack Neocon
> Utopia <[email protected]> wrote:
>
>>If inflation was measured the same way it was in the 1970s, it would stand at
>>an even 10%
>
> Any cite for that? I think it's higher--12% to 16%.

A financial news website which I do not have a bookmark on. I think they're the
same one which is continuing to calculate M3 money supply after the Fed stopped
publishing it.

--
There are only two kinds of Republicans: Millionaires and fools.
 
Old Feb 14th 2007, 7:40 am
  #8  
GW Chimpzilla's Eye-Rack
Guest
 
Posts: n/a
Default Re: Fed Chairman Is Optimistic About U.S. Economy

Bill Bonde ( Not endorsed by Hootia and the Blowfish ) wrote:

>
>
> Viking wrote:
>>
>> On Wed, 14 Feb 2007 18:41:16 GMT, GW Chimpzilla's Eye-Rack Neocon
>> Utopia <[email protected]> wrote:
>>
>> >If inflation was measured the same way it was in the 1970s, it would stand
>> >at an even 10%
>>
>> Any cite for that? I think it's higher--12% to 16%.
>>
> It's actually about 300% a day. Don't you see the folks with their
> billion dollar note filled wheelbarrows heading off to do someone's wall
> paper, or to buy a chiclet?
>
>
>
Good time to refinance with a new option ARM and use the extra cash to buy a
Dodge Ram250 4X4, isn't it?

--
There are only two kinds of Republicans: Millionaires and fools.
 
Old Feb 14th 2007, 8:00 am
  #9  
asclero
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Posts: n/a
Default Re: Fed Chairman Is Optimistic About U.S. Economy

"Bill Bonde ( Not endorsed by Hootia and the Blowfish )"
<[email protected]> wrote in message news:
[email protected]...
<snip>

> Who is 'we'?

Feb. 13, 2007

PHIL DAVIS
Associated Press

TAMPA, Fla. - Genevieve Chandler has been visiting the Lowry Park Zoo
since she was a kid, but the tour she got the other night was
definitely not the G-rated fare of her childhood. Among the things
Chandler, 30, and her date learned on their "Wild at Heart" zoo tour:
Male pigs have a unique corkscrew endowment and impressive, um,
output; manatees have orgies and don't really care if their partners
are male or female; and a male porcupine has only one four-hour window
a year to mate - very carefully, of course.

Valentine's Day is the time of year when zoos around the nation seek
to woo a new adult audience with risque tours that couple champagne,
chocolate-covered strawberries and candlelight dining with impressive
facts about how animals do the wild thing.

Credit for the concept goes to Jane Tollini, a former penguin keeper
at the San Francisco Zoo. Tollini conceived the idea two decades ago
while watching her penguins' courtship ritual, which culminates in
what she describes as "bowling pins making love."

"The keepers get there early and we see things that other people don't
see," Tollini said. "And I went, 'My God, that's fascinating.' You
know the old Peter Sellers line, 'I like to watch?' You kind of go,
'Oh my, my, my. How big? How many? How far?' It was unbelievable."

She set the ritual to Johnny Mathis - the makeout tunes of her
generation - pitched it to her bosses and a new zoo tradition was
born. The idea soon spread to other zoos.

San Francisco calls it "Woo at the Zoo." New York City's Central Park
Zoo calls it "Jungle Love." Zoo marketing folks in Boise, Idaho, named
the tour "Wild Love at the Zoo."

Zoos charge about $50 per person for the tours, and crowds are kept
deliberately inmate. Many zoos, including Lowry Park, have added
additional nights to handle Valentine's overflow.

"It's a fundraiser, but it's definitely not our largest," said Rachel
Nelson, Lowry Park's director of public relations. "It's a way to
introduce a new audience to the zoo."

Tollini puts it more bluntly.

"Sex sells. No matter what," Tollini said. "I wish I had a nickel for
everybody that has copied me. But not every city is as liberal as San
Francisco and can get away with what I do."

Even in San Francisco, zoo sex tours are mostly all talk and no
action. Animals do it when they please, or, in some cases, when their
human keepers deem it appropriate.

Tour guides in Tampa warned of possible manatee make-out sessions. But
the giant mammals were content to munch on vegetation while the tour
group ate a candlelight dinner in front of the zoo's massive aquarium
windows.

"Manatees are not particular," Nelson said. "We have only males right
now and they don't seem to care."

Despite the blunt talk on the tour, many in the Saturday crowd in
Tampa were coy about their reasons for attending.

"I really like the zoo and I thought it was a nice thing to do with my
boyfriend for Valentine's Day," Chandler said.

Her most memorable statistic: "whales have like 10-foot-long
whatevers."

Hillsborough Community College professor Mara Manis said the evening's
unique educational twist attracted her to the tour.

"People always look to do something on Valentine's Day. It's one of
those holidays where everything has been done so many times. It's so
forced." Manis said. "And this is different."

Her date, landscape architect John Tate, made it clear he hoped to
cash in on the "King of the Jungle" title he won earlier in the
evening. His moves were deemed the best in a contest showcasing how
some male animals must win their mates with elaborate dances.

"This is the only time of year I have free license," Tate said,
smiling.

Statistics about whale endowments and monkey love may not prove useful
on the human dating scene, but a scent-marking experiment with big
cats could prove useful when selecting a cologne to wear - or not to
wear - on a tiger tour in India.

"Apparently," Nelson said, "tigers prefer Obsession."
 
Old Feb 14th 2007, 4:30 pm
  #10  
Planet Visitor II
Guest
 
Posts: n/a
Default Re: Fed Chairman Is Optimistic About U.S. Economy

"Bill Bonde ( Not endorsed by Hootia and the Blowfish )"
<[email protected]> wrote in message
news:[email protected]...
>
>
> Viking wrote:
>>
>> On Wed, 14 Feb 2007 18:41:16 GMT, GW Chimpzilla's Eye-Rack Neocon
>> Utopia <[email protected]> wrote:
>>
>> >If inflation was measured the same way it was in the 1970s, it would stand
>> >at an
>> >even 10%
>>
>> Any cite for that? I think it's higher--12% to 16%.
>>
> It's actually about 300% a day. Don't you see the folks with their
> billion dollar note filled wheelbarrows heading off to do someone's wall
> paper, or to buy a chiclet?
>
Actually, you're speaking of Zimbabwe. See --
http://www.busrep.co.za/index.php?fSectionId=&fArticleId678522


Planet Visitor II
Official publisher of AADP Official dictionary
http://www.planetvisitor.name/dictionary.html

>
>
> --
> Thus, if the problem of technological hopelessness is caused by absence
> of care, both by technologists and anti-technologists; and if care and
> Quality are external and internal aspects of the same thing, then it
> follows that what really causes technological hopelessness is absence of
> the perception of Quality in technologists and anti-technologists.
> Robert Pirsig, "Zen and the Art of Motorcycle Maintenance"
 

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