Recovery underway: Bollard

Once again there is a recovery on the way according to  our own NZ Bernanke.
Of course there is no recovery on the way unless the central bank are about to spend the 9 billion they were given of the bail out money the New York Federal reserve was given to bail out their buddies on say serious job creation and helping out the idiots who thought that house prices would always go up.

With over 400 banks on the high risk list, foreclosures rampant, dairy and crop prices slumping and no real production jobs in sight the US is not going to be our economic saviour any time soon.

Apart from that the Federal Reserve is holding the worlds economy to ransom with their thread to collapse the economic (read financial system) system if required to open their books and show where the 700 billion went to.

A dire situation as both Bollard and John Key full well know.