Posted by: tristar3research | March 16, 2009

Jaundiced View: Bernanke on 60 Minutes

Talk about having smoke blown up your *ss! Here’s some good ones from Benny & the Jets:

– U.S. economy to recover in 2009!

– AIG is too big to fail and those execs deserve their bonuses!

– Stimulus is important for all economies- forget reform and reregulation!

“Weaseling out of things is important to learn. It’s what separates us from the animals … except the weasel”. Homer Simpson

THE FACTS: In the NSS Category
“The reluctance of foreign investors to buy U.S. assets is a concern for the dollar going forward,” said Matthew Strauss, senior currency strategist, at RBC Capital Markets in Toronto.

– U.S. industrial output fell to its lowest level in almost seven years in February and manufacturing in New York state slumped further this month, according to data on Monday that pointed to a worsening economy.

– Adding to economy’s problems, the U.S. Treasury said foreigners were net sellers of U.S. securities in January, a worrying development at a time when the government is rolling out a massive spending plan to break a 14-month recession.

– The Federal Reserve said industrial production fell 1.4 percent, following a drop of 1.9 percent the prior month and worse than market expectations for a 1.1 percent decline.  Compared to the same period a year ago, output declined 11.2 percent with the index now at 99.7, the lowest level since April 2002, the central bank said.

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