Fed Officials Seem More Confident the Recession is Nearing the End - Just another day in the mortgage mess

If I were to compare Chairman Bernanke and former Chairman Greenspan, I would say Chairman Bernanke is the "real" thing. I have followed Chairman Bernanke closely along with his book. I knew we were not in the beginning of the recession a couple of months ago, when Vice President Biden came out saying this Administration misread the economy and President Obama stated we were in the beginning of the recession. I knew this could not be right.

Moreover, more importantly, who cares when the end of the recession happens. I would rather focus on when a recovery is going to begin, that is forward looking. Focusing on when the end of the recession is going to happen seems so "old school" and backward looking. We need to be forward looking and focus on when a recovery is going to begin. The end of a recession does not justify the means. Think about it, just because a recession ends does not mean a recovery starts at that point. Therefore, the start of a recovery seems more important than trying to time the end of the recession. I care about people having prosperity and growth in their lives; and the only way this is going to happen is if a recovery begins, not the "end of a recession". Just my opinion.

http://www.federalreserve.gov/newsevents/press/monetary/fomcminutes20090812.pdf

Stay tuned...I have more to share. Just another day in the mortgage mess!