â??Weâ??ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I donâ??t think itâ??s gonna drive the economy too far from its full employment path, though.â?? â?? 7/1/2005
â??Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise.â?? â?? 2/15/2006
March 28th, 2007 â?? Ben Bernanke: â??At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,â??
May 17th, 2007 â?? Bernanke: â??While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.â??
June 20th, 2007 â?? Bernanke: (the subprime fallout) â??will not affect the economy overall.â??
October 15th, 2007 â?? Bernanke: â??It is not the responsibility of the Federal Reserve â?? nor would it be appropriate â?? to protect lenders and investors from the consequences of their financial decisions.â??
February 29th, 2008 â?? Bernanke: â??I expect there will be some failures. I donâ??t anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system.â??
June 9th, 2008 â?? Bernanke: Despite a recent spike in the nationâ??s unemployment rate, the danger that the economy has fallen into a â??substantial downturnâ?? appears to have waned,
July 16th, 2008 â?? Bernanke: (Freddie and Fannie) â??â?¦will make it through the stormâ??, â??â?¦ in no danger of failing.â??,â??â?¦adequately capitalizedâ??
September 19th, 2008 â?? Bernanke: â??most severe financial crisisâ?? in the post-World War II era. Investment banks are seeing â??tremendous runs on their cash,â?? Bernanke said. â??Without action, they will fail soon.â??
As you can see, he has been a regular Nostradamus with his predictions.
One reason I love gold, silver, and oil stocks! ^^^^