One year ago, on 60 Minutes, Ben Bernanke uttered that now famous phrase.

Watch CBS Videos Online

Category: Federal Reserve, Television

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

13 Responses to “Happy Anniversary, Green Shoots”

  1. Chief Tomahawk says:

    Is Ben Bernanke’s psych exam (assuming he’s taken one) publicly available?

    I know such a question is (usually) uncalled for, but he has managed to wrap his arms around Wall St.’s creative financial chicanery despite not seeing the problem in sub-prime in 2007, and come up with green shoots. That’s like so whack I can’t help but think “whack job”.

    And please no one tell me this is any more believable than Alice’s trip down a rabbit hole!

    We have double digit unemployment (close enough, especially if you count the disenfranchised, etc.), a vacant store or two or three in every strip mall, and a house or two or three for sale on every block. With the lack of demand there is no way for pricing power to be maintained. Green shoots?! Only in the fertile soil of off-balance sheet transactions!

  2. The Window Washer says:

    Oh please!!!!!!!!!!!!!

    We all know why Uncle Ben was seeing green shoots.

    http://blogs.usdoj.gov/blog/archives/192

    What a year, it does bring back memories doesn’t it?

  3. Chief Tomahawk says:

    By the way, is it time for this yet?

    http://www.youtube.com/watch?v=31QUOUxqz2M

  4. b_thunder says:

    all i’ve got to say is……

    !!!!!! BOOOYAHHH !!!!!

  5. franklin411 says:

    Those were fun times. Bernanke was calling for green shoots, Obama was telling people to buy stock, and the comments section was full of nit-wits claiming they were stocking up on God, guns and gold so they could “go Galt” before the Amageddon in mid-2009.

    In this case, the first 2 out of the above 3 ain’t bad. In fact, it’s wonderful!

  6. GetReal1 says:

    The only green shoots to come out of last year are BS and more government spending.

  7. [...] The Big Picture: Happy Anniversary green shoots [...]

  8. torrie-amos says:

    meredith whitney on bloomyberg, always interesting, logic and facts are not dead

  9. V says:

    It even has its own Wikipedia page now. http://en.wikipedia.org/wiki/Green_shoots

    Unfortunately for Nouriel, “Yellow weeds” doesn’t get the same treatment.

  10. [...] Happy anniversary, Green Shoots – Big Picture [...]

  11. rootless_cosmopolitan says:

    @Franklin411:

    The comment section here was not full of “god, guns, and gold” people who were seeing “Armageddon” coming. Those people were only a very few ones. You are such a liar. I guess you need this straw man to boost your ego. Shame on you!

    rc

  12. rootless_cosmopolitan says:

    Differently to what franklin411 fantasizes, I would say, a year ago and the following months, the comment section here was filled with a tenor of skepticism towards the rally and somewhat later the acknowledgment that unprecedented stimulus by the government has to show up somewhere, but that there wasn’t any self-sustained recovery, and “green shoots” and rally will fade once the stimulus is taken away. I guess most here have been surprised how long it has lasted so far, but the judgment about the self-sustained recovery is still out. Whether it was mostly due to the stimulus, and whether there is a self-sustained recovery will be seen later this year and in 2011, unless there is a new round of powerful Keynesian stimulus by the government financed with another strong credit expansion round.

    rc

  13. VennData says:

    IMHO Franklin411 UNDERSTATES the tin foil hat crowd’s comments, as you can see from their many comments above, yesterday, the day before that… and that.. etc…

    Also, if Bush had ridden a 70% stock jump, these guys would be shouting it to the rooftops. Your guess is as good as mine on whether they’d been in for the ride or not ….but… the comments suggest they missed Obama’s bull market.

    The “Green Shoots” call was right.

    The “Obama’s socializing our nation” calls were wrong as demonstrated by the repayment of Bush’era equity stakes in banks, etc. Obama the great un-nationalizer.

    Data, apparently doesn’t permeate tin.