21 Aug 2009

Best Evidence Yet That Recession Hasn’t Bottomed Out

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This is a two-part argument. First:

U.S. Federal Reserve chief Ben Bernanke on Friday said prospects for a return to global economic growth looked good “in the near term,” the clearest signal yet the world’s most powerful central banker thinks a recovery is at hand.

“After contracting sharply over the past year, economic activity appears to be leveling out, both in the United States and abroad, and the prospects for a return to growth in the near term appear good,” Bernanke told an annual Fed conference here in the shadows of the Grand Teton mountains.

Now the second part of the argument:

Note: If you’re an important person and are rushed for time, just watch, say, the last minute of the above video. It never gets old.

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