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This week's sign the Apocolypse is upon us...

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AP: Bernanke says economic outlook is worse

No love from Bernie today... :sad:

Bernanke says economic outlook is worse

By JEANNINE AVERSA,
AP Economics Writer
14 Feb 2008

Federal Reserve Chairman Ben Bernanke told Congress Thursday the economy is deteriorating and signaled a readiness to keep on lowering a key interest rate to shore things up.

Bernanke also told the Senate Banking Committee that the one-two punch of housing and credit crises has greatly strained the economy. And he forecast sluggish growth in the near term. Bernanke also noted that hiring has slowed and that people are likely to tighten their belts further because of high energy prices and plummeting home values.

"The outlook for the economy has worsened in recent months, and the downside risks to growth have increased," Bernanke said. "To date, the largest economic effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past two years or so."

Bernanke also told senators that the "virtual shutdown" of the market for subprime mortgages given to people with blemished credit histories or low incomes ? and a reluctance by skittish lenders to make "jumbo" home loans exceeding $417,000 ? have aggravated problems in the housing market.

Unsold homes have piled up and foreclosures have climbed to record highs.

"Further cuts in homebuilding and in related activities are likely," Bernanke cautioned.

cont'd...
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GoodLifeSean;1062588; said:
On that topic, how in THE Hell does Billy "the mullett" Ray Cyrus' daughter have a sellout concert tour. I'd rather funnel a nest of earwigs into my ear canal than listen to that crap.
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Thankfully my daughter cries at the sight of both Hannah Montana AND LazyTown. :groove:
 
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:rofl: :slappy:
NEW YORK (Hollywood Reporter) - The USA Rock Paper Scissors League is proving to have staying power in the media industry.
The championship tournament of the league devoted to the playground game is heading to Fox Sports Network as an hourlong "Best Damn Sports Show Period" special October 6.
FSN is the third network to carry the tournament in as many years; it aired on ESPN2 in 2007 and A&E the previous year.
Matti Leshem, USARPS commissioner and executive producer of the shows, called FSN the "spiritual home" of the game. The network aired the International Rock Paper Scissors Championships in 2004, also as a "Best Damn" special that Leshem executive produced, marking the first time an RPS event was televised, he said.
The third annual tourney, sponsored by Bud Light, runs June 20-22 at the Mandalay Bay Hotel and Casino in Las Vegas.
Professional poker player Phil Gordon will referee the championships for the second consecutive year. He also is a commentator on Bravo's "Celebrity Poker Showdown" and a host of ESPN's "Pro-Am Poker Equalizer."
More than 300 players will compete in this year's event, with the winner receiving a $50,000 grand prize and a trip to Beijing to compete against international champions in an event coinciding with the Summer Olympics.
Reuters/Hollywood Reporter
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OCBF and I used to joke about RPS becoming a "sport" on "reality tv" years ago. We never thought it was really possible!
 
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OCBuckWife;1181752; said:
:rofl: :slappy:

OCBF and I used to joke about RPS becoming a "sport" on "reality tv" years ago. We never thought it was really possible!
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And the video game. Hot seller these days

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