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UK vs. US news: The recession will end in 2009 or 2010, depending your news source

February 24th, 2009 ~ 2 Comments

AP coverage of Bernanke\'s recession commentsBBC\'s Bernanke speech coverage

So, Fed Reserve Chief Ben Bernanke talked about when the recession might end today. But apparently, he told people in the UK something different than those of us here in the US.

Headline on BBC: US recession ‘may last into 2010′

Headline on Yahoo.com: Stocks up on Bernanke’s report that recession might end in ‘09

The second paragraph in the AP story on Yahoo states: “…Bernanke predicted the economy is likely to keep contracting in the first six months of 2009, but that “there is a reasonable prospect” the recession will end this year.”

There’s not even a mention of “2010″ in the AP story. According to the BBC story, Bernanke said “only if” getting credit and financial markets to operate more normally again is successful, “Only if that is the case, in my view there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery,” he said.

Tags: Things to believe in

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