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Don’t Trust Ben Bernanke’s Forecast!
June 8th, 2010
Two words: Lehman Brothers. Should we trust Ben Bernanke’s Forecast? Heck no! These guys are terrible at economic forecasting. Monday he said that he didn’t think that the U.S. economy would slip back in to recession. My guess is that’s exactly where we are headed. If you followed their predictions, you probably would have ended up bankrupt. Here’s what he said about the housing market back in May 2007:
All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.
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