Bernanke doesn't comment on U.S. outlook in speech to students

DAYTON, Ohio Thu Apr 4, 2013 10:35am EDT

Chairman of the the U.S. Federal Reserve Ben Bernanke speaks at the London School of Economics in London March 25, 2013. REUTERS/Jason Alden/POOL

Chairman of the the U.S. Federal Reserve Ben Bernanke speaks at the London School of Economics in London March 25, 2013.

Credit: Reuters/Jason Alden/POOL

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DAYTON, Ohio (Reuters) - Federal Reserve Chairman Ben Bernanke did not comment on the outlook for the economy or monetary policy in a speech before university students on Thursday.

In a pre-recorded video message, Bernanke stressed the importance of financial education so that people can better plan for their retirements and make informed decisions when taking out loans to buy cars and homes.

The United States is still reeling from the deep 2007-09 recession which struck after a debt-fueled housing boom imploded, triggering a financial crisis.

"Among the lessons of the recent financial crisis is the need for virtually everyone - both young and old - to acquire a basic knowledge of finance and economics," Bernanke told students at a conference in Dayton, Ohio.

(Reporting by Jonathan Spicer in Dayton and Jason Lange in Washington; Editing by Neil Stempleman)

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Comments (4)
bobber1956 wrote:
He did not comment on the outlook becaues THIS:

http://www.usdebtclock.org/

is their finacial future-thy don’t have one.

Apr 04, 2013 10:53am EDT  --  Report as abuse
morbas wrote:
The US dollar is the worlds transaction and main reserve currency. With a federal debt is approaching 75% of U.S. gross domestic product, stability of the Green Back is a concern, will the USA government inflate out of the deficit? The House of Representatives has the sole authority of taxation and can look no where else to shed it’s purpose of meeting obligations.
Now, fully 85% of foreign-exchange transactions do not use the Greenback (Wall Street Journal). The dollar reign as the standard for international debt securities is under assault as foreign interests flock to a currency exchange formula for ‘virtual’ stability. In the worlds eye, we must balance expenditures visa vice revenue.
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Honorable Senator/Representative,
This is a mandate to: Nationalized income tax system that funds Federal, State and Municipalities $8.1 Trillion expenditures. A margin progressive tax, a) single income less than $300k of (Income-$30k)*(90%*(Income/$300k)), b) joint total income less than $300k of (Income-$60k)*(90%*(Income/$300k)), income 300K up 90%*(Income-[$30k single or $60k joint]): single example [$50k, 1.8%],[$100k, 13.1%],[$200k, 41,4%],[400k,83.5%] . Replaces all taxes: Federal, State, Sales, Social Security-Medicaid, Federal Corporate Share, Property, Fuel/Gasoline, and other: 62% estimate. No business taxation with provisions on ‘partnership and disregarded’ businesses to transfer funds into personal accounts as the taxable income. Ends family business inheritance taxation, except when sold for personal profit (always taxable). The proposed funds alloted 1/3rd Federal, 1/3rd State proportioned by voter turnout, 1/3 Municipality proportioned by voter turnout. Rates to be re-proportioned by The Federal Reserve mandated stable per capita monetary value and stable per capita monetary supply.

Thank you for your immediate attention,
Your constituent [Zip Code]
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Apr 04, 2013 12:38pm EDT  --  Report as abuse
bobber1956 wrote:
morbas

For a short time, 08-11, I thought this may change:

“The US dollar is the worlds transaction and main reserve currency.”

but with the Cyprus incident and now Portugal’s plight the dominoes continue to fall in the EU. Where did the BOJ come up with 1.4 trill anyway? The dollar will reMAIN the reserve currency and in that case…we are in very serious trouble. Worldwide.

Apr 04, 2013 1:03pm EDT  --  Report as abuse
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