When Numbers Are Causing Troubles by Kamila Moravcikova

Ben Bernanke, the Board Chairman of Fed (Federal Reserve System, the central bank of the United States to be correct) said recently that Fed wasn't forecasting a recession. Well, the one thing is what Fed officials say and the other, what they are doing. All the folks there act like, well, don't worry about this, everything's fine, don't get terrified by Bush's "emergency package", maybe this year won't be the best, but it's still okay, we just cut this rate a little and cut another one a bit, we do this and we do that. No recession in sight, you can just expect few harder days at worst. Problems in the housing markets, meagre GDP growth, inflation that people are starting to worry about, crisis on the Wall Street (that hit every single Stock Exchange in the world starting with London and ending with Tokyo), sales of US goods and services abroad slowed down, week US dollar, etc, etc. (people who give a damn what's going on around had to notice something about this) and there is nothing to worry about? Or maybe statements like these are just another instrument to calm the situation down a little bit in effort not to worsen it even more? Well, all I know it's that I'm getting tired of listening to such messages and desperately waiting for any good news. Let's hope the recession or "something-like-recession" or whatever it is will pass soon and all the rates, ratios, indexes will show the right values (whichever are the "right" ones).

related story: http://news.yahoo.com/s/ap/20080130/ap_on_bi_go_ec_fi/economy;_ylt=AoI_YOM6tGRwKA0R9ha40Yes0NUE

by Kamila Moravcikova for PocketNews (http://pocketnews.tv)

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