Ben Bernanke Offers No Respite Yet

The Federal Reserve Chairman Ben Bernanke was placed under the lens of a microscope yet again when he spoke to an audience at a conference in Jackson Hole, Wyoming. His speech sounded like a rehashed version of what he had last said about the U.S. recovery growth statistics. He would not be loathed that much if he stopped printing money, diluting the American dollar, and trying to micromanage the economy.

Bernanke in Crisis

Bernanke is someone who understands what a slow growth means to a country making its way out of a recession because he is the leader of an institution that is much to blame for America’s woes in the past 10 years. The Feds have stated that they don’t see any reason to work something out to revamp and energize the economy just yet. The figures from the second half of the year are expected to reduce the need of such intervention. Foreclosure attorneys have been called on now more than ever before because of the state of the economy. People simply can’t afford to pay the mortgages on their homes anymore.

A Stagnant Economy

Bernanke has been touched by the foreclosure crisis himself. His childhood home became a foreclosed property after the people who purchased it from Bernanke needed foreclosure attorneys as they could no longer pay for the home. This is the situation in states all over the country. A higher growth rate can change everything but at present the annual growth rate is at a measly 0.5 percent which is pathetic.

Stationary

It looks like foreclosure attorneys will continue to stay in demand and the recession will be a living evil for a longer time than anticipated in the past. With the Feds not pitching in at least till the September meeting, the economy looks like it is at an impasse.