As expected housing starts, building permits, and consumer prices were reported down today signaling our worries about a recession turning into a depression are well founded.
Housing starts and building permits hit record lows in October according to the Commerce Department report released today.
Housing starts were down 4.5% to an annual rate of 791,000, setting [...]

I posted two videos recapping the Bernanke speech this morning in Jackson Hole, WY in interviews with John Makin of American Enterprise Institute and Ethan Harris of Lehman Brothers since no cameras were allowed.
Bernanke Speech Address Inflation
Video Part 1 - Interview with John Makin of American Enterprise Institute

Video Part 2 - Reaction with Ethan Harris [...]

The Fed decision today to hold rates at 2 percent was expected. The Fed decision and the statement outlining the reasons show Bernanke’s lack of courage and leadership in my book.
Fed Decision Lacks Vision
The statement of the Fed said inflation worries in the future were “highly uncertain”.
Uncertain my eye…there is nothing [...]