EconomicCrisis.US

The world, particularly the world economy, is pretty vulnerable at the moment. The recent French and Greek elections, and Germany’s unpredictable response to their results, have again raised the specter of a crisis in the euro zone that Robert Rubin, a former secretary of the U.S. Treasury, told me this week could be far worse than the bankruptcy of Lehman Brothers in 2008. Nor is everything fine in the United States, where disappointing job numbers for April have set off fears that the economic recovery may be weakening.
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The nation’s economy likely will grow faster than what most analysts are predicting, the president of the Philadelphia Federal Reserve said Tuesday in San Diego.

Charles Plosser, CEO of the branch, said during a luncheon for the Chartered Financial Analysts Society of San Diego that the U.S. economy should grow by 3 percent year-over-year in 2012 and 2013. That’s a slightly faster rate than the figure from a recent survey of professional forecasters, which said gross domestic product should rise by 2.3 percent this year and 2.7 percent next year.
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Michael Snyder: The Federal Reserve says that everything is going to be okay.  The Fed says that unemployment is going to go down, inflation is going to remain low and economic growth is going to steadily increase.  Do you believe them this time?  As you will see later in this article, Federal Reserve Chairman Ben Bernanke has been dead wrong about the economy over and over again.  But the mainstream media and many Americans still seem to have a lot of faith in the Federal Reserve.  It doesn’t seem to matter that Bernanke and other Fed officials have been telling the American people lies for years.  As I always say, most people believe what they want to believe, and many people seem to want to have blind faith in the Federal Reserve even when logic and reason would dictate otherwise.  The truth is that things are not going to be getting much better than they are right now.  When the next wave of the financial crisis hits, the U.S. economy is going to fall back into recession, financial markets are going to crash and unemployment is going to absolutely skyrocket.  But you will never hear any of that from the Federal Reserve.
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From the day he entered the White House, the biggest threat to Barack Obama’s chances of becoming a two-term president has been the battered state of the U.S. economy.

There have been new signs of trouble this spring: slower job growth, higher gasoline prices and fresh fears over the European debt crisis. Yet Obama’s prospects on the economic front may be brighter than they now look.

This past weekend brought encouraging signs that Europe is ready to take stronger action to confront its still-serious debt problems. During the spring meeting of the International Monetary Fund, which concluded Sunday, member nations pledged to nearly double the funds available to the globe’s emergency lender to address future crises.
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