Bernanke Calls The US Economy Faltering

October 07 00:00 2011

New York, October 7 (RainbowNewsLine.com) – Ben Bernanke has issued a statement which states that the US economic recovery is not going as planned and the US economy is “faltering” with economic woes. The statement has come on the heels of a series of bad news that have rocked the US financial markets. The news that retail sales are falling, home buying is falling, unemployment is at an all-time high and US banks may have quite some exposure to the toxic Greek debt have caused markets worldwide to plummet.

Ben Bernanke also hinted that the Fed may have to intervene in order to set the matter straight. However, Fed is running out of tricks in the book to quick fix this economy which I suffering from fundamental ailments. Bernanke hinted that an old style stimulus might be on its way.

However given the background of the situation, Mr Bernanke should have a tough time selling the idea to Americans this time round. Americans who fail to understand how more debt can solve an ensuing debt crisis are taking to the streets all over the country now. Also with the recent highly publicized raising of the debt ceiling, the average American knows that they are now borrowing way beyond their means and is skeptical about the whole issue.

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