Monday, March 16, 2009
Is Bernanke right about the economy turning around in 2009?
The chairman of the Federal Reserve Bank says he actually believes the recession could turn around this year. He's also pissed off about the more than $100 million in bonuses that bailed out insurer AIG is paying its top executives.
Is he too optimistic? Do you believe the economy will turn around in 2009? And is Bernanke, who has a Wall Street background, being disingenuous in his anger over the executive bonuses?
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hFirst, I am a firm believer of the power of positive thinking. So I try to remain as hopeful for the future as my experience, logic and common sense will allow. :-)
Although I find the dollar value of the stimulus package astounding and somewhat shameful, I do lean to the Keynesian economic school of thought and believe the government needs/needed to intervene with the markets to create requisite demand for goods and services; reduce the barriers to entry for the small businesses.. et al. We are barely 3-weeks in since the bill was signed, only time will tell if this 1 bill will undo the economic disaster that took 8 years to create. There are really too many factors and messy politics on the state & federal level to be sure exactly when the economy rebound. However, I remain cautiously optimistic that it can happen within the next 12 to 18 months.
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