Bernanke is CLUELESS

Said he is 'surprised' consumers are being so cautious. Hmm... why would we be so cautious with such encouraging signs in the economy ; like no new jobs, price jumps in gas and food, and a spastic financial and equity market?? He's freakin' CLUELESS because he lives in a DIFFERENT WORLD where you never go broke, lose your house or can't pay your bills!!

Merrill Lynch,MorganStanley vs Bernanke 1/4%

Bloomberg.com sez:
Dec. 10 (Bloomberg) -- The U.S. will slip into a "mild'' recession next year, Morgan Stanley said in its latest research, joining Merrill Lynch in predicting a downturn for the world's largest economy. "A mild U.S. recession is now likely, with no growth for the year ahead,'' Richard Berner, chief U.S. economist for Morgan Stanley in New York, said in his weekly note to clients today. "Financial conditions are tighter, the weakness is broadening into capital spending, and global growth is slowing.''

Bernanke and crew duly allowed the equity market to assume they would act boldly to stave off dollar losses...but then wimped out with only a quarter-point cut. Dow drops along with investor confidence. Back to reality, guys: the Fed always keeps one eye on inflation.

Deef's Recession Probabilty: 100%