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View Diary: State and local government lay-offs headed for record levels in 3rd quarter (56 comments)

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  •  Bernanke (3+ / 0-)
    Recommended by:
    JeffW, Meteor Blades, Eric Nelson

    This must be why the Bernank said today that growth will be better in the second half of the year.

    Unbelievable that this guy is Fed Chairman. I just hope he knows he is lying (for the good of the economy) and not a believer in what he is saying.

    I have said from early on that any growth that does come will be offset by losses in the public sector, meaning that overall growth will remain weak at best for some time.

    "I can live with doubt and uncertainty and not knowing. I think it's much more interesting to live not knowing than to have answers which might be wrong". Feynman

    by taonow on Tue Jun 07, 2011 at 06:52:59 PM PDT

    •  Better than the miserable 1.8 percent... (5+ / 0-) was in the first quarter and the 2% it's shaping up to be in the second quarter?

      Five months ago, Bernanke was saying we could see 4% GDP growth in 2011. Getting there would require 6% growth in the 3rd and 4th quarters. We haven't seen that kind of growth for a decade, a single quarter, plus four quarters out of 40 in the '90s.

      Don't tell me what you believe. Tell me what you do and I'll tell you what you believe.

      by Meteor Blades on Tue Jun 07, 2011 at 07:06:30 PM PDT

      [ Parent ]

    •  Bernanke is an idiot (2+ / 0-)
      Recommended by:
      JeffW, pot

      He is the same guy who did nothing to stop Paulson from letting Lehman Brothers fail, which crashed the economy.  Geithner too.  

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