Welcome to the club. The rest of us already knew this who have been paying attention and not wish and hoping for a miracle or change
Posted on 06/01/2011 11:34:16 AM PDT by BenLurkin
Peter Yastrow, market strategist for Yastrow Origer, told CNBC there is an “almost near panic going on with money managers and people who are responsible for money” over the direction of the market and the economy at large.
“Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,” Yastrow said. “We’re on the verge of a great, great depression. The [Federal Reserve] knows it.”
Welcome to the club. The rest of us already knew this who have been paying attention and not wish and hoping for a miracle or change
It would give Obama an excuse to pursue even more socialist infrastructure “investment” schemes to “save” the economy.
A great “great depression”, that does not sound good.
Knowing who Obama was when he was elected I predicted he would be impeached within four years with the Democrats helping to try and save their sorry hides. It still may happen yet.
Agreed, but on the bright side it would probably doom Obummers re-election effort.
In a right-side-up world, this pathetic leader should be tried for his treasonous and willfull behavior to destroy our economy.
But I am reminded we don’t live in such a make-believe reality.
May God, for our sake, still see fit to bestow His Tender Mercies of old on our families. This is just what it might take to turn this wayward, ungrateful nation back to God.
You may be right on impeachment. If we are sinking as fast as I think we are at this point, it is going to be a bloodbath this Summer or Fall.
I personally thought that Obummer had so much Gov’t money floating around that this day wouldn’t come for another year or two. How he even bungled giving away so much “free” money to everyone as a short term boost is a shock to even me.
After urinating on small businesses for the past 2 years and only focusing on Wall St and shoring up unions....
What else was expected ?
Oil future’s still over $100 a barrel. Dollar’s still generally going down. It’s the debt. This economy is an economy running high on debt with little manufacturing (sustainable revenues).
77,000 feds paid more than governors Government salaries put under scrutiny
http://www.freerepublic.com/focus/f-news/2728143/posts
And that doesn’t show employees who get a little less but nearly as much or the total number of state, county and municipal employees.
and Obama thinks he was scrooood when this network popularized the phrase “tea party”...
The great depression started when Clinton started exporting jobs, Bush put job exporting on steroids and Obama keeps it going. The country’s economy has been tapped out after being held afloat using credit cards, homes as ATM machines, constant wars, and stimulus efforts.
If people don’t have a paycheck, they are unable to buy. If they are unable to buy, we have a depression. The great recession will morph into the great depression as Washington continues to support the world with troops, trade and treasuries.
I don’t think Obama even runs for 2nd term because the Dems will feel he his unqualified...
The concerted freeze against hiring on Dec. 1st, 2007 brought oil down a little for a short time, BTW. That lowered freight fuel a tiny bit for a short time, but it did not have the expected effect of crashing the Chinese economy to bring Chinese product prices down.
Time for strategic retreat?
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