Federal Reserve Chairman Bernanke says that the worst is probably over. He says from a 'technical perspective' it is over, but people will continue to feel the bite. He feels the contraction that started in December 2007 is over and we will see a swing slowly towards recovery.
My question is, how can this be true when there are already reports of increasing credit card debt defaults, as well as another round of mortgage defaults on the horizon?!
Let me know if you think we are out of the recession yet!
