So at a recent luncheon in Minneapolis, Ben Bernanke offered the usual explanation of the reasons behind a sluggish economy. But then he said something interesting. He indicated that consumers are depressed beyond reason or expectation.
Mr. Bernanke listed the reasons to be depressed: “The persistently high level of unemployment, slow gains in wages for those who remain employed, falling house prices, and debt burdens that remain high.”
So with this list, one has to ask Mr Bernanke where is he expecting consumer optimism?
What are your thoughts? Do you believe consumers are depressed beyond reason or expectation? Lets hear!