Posted on 06/01/2011 10:52:24 AM PDT by Hojczyk
Obama is the worst jobs president since the Great Depression. More than 40 million Americans are now receiving food stamps, a record.
Thanks to Obama’s failed economic policies ony 38,000 private sector jobs were created in May.
chief economist today announced that we are on the verge of a Great, Great Depression. CNBC reported:
Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.
“What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,” he said. “They can not find a yield and you just don’t want to be putting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.
“We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake.”
Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.
“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.
You really believe the phony GDP numbers the government publishes?
Oh man, you say it like you believe the data coming from Uncle Sugar or something.
It's an election year, the MSM loves O-bozo, you don't think they'd report stories to hurt their leader do you?
The federal reserve has pumped billions upon billions into the markets, monetized it's own debt to keep the can tinking down the road.
All the signs are (were) there of yet another downturn in the economy.
All of us Freepers knew this in 2008.
It was true then and ZERO has only made it worse, while the MSM whistles past the graveyard. . . .
I am inclined to believe the gdp numbers. 80% of folks are still working and sales are still happening, albeit folks are paying more attention to costs and such. This is simply the fruits of globalization.
That’s real upbeat!
The work ethic today is completely opposite what it was during the Great Depression. It was vital to most of the WPA workers then to be sure that they earned what was 'paid' so that they could maintain their dignity and earn 'honest' money.
Today, the 'morals' dictate that you get all that you can with the minimum of effort...stealing is even acceptable. Honest effort and achievement is laughed at...you're a sucker.
I am certain that the Marxist and his evil cohorts would want nothing more than a World War, starting say, May 2012.. They most likely believe the sheeple will then be afraid to change leaders in such a time of turmoil.
One thing is certain, the 2012 election will be like no other in history -- the Marxist is determined to remain as pResident, so as to complete the destruction of the United States.
There will be a significantly lower population in the post-war restored republic, perhaps 10%-20% who won't make it.
I’ve always liked much of the WPA art. It’s plenty valuable and needs to be largely sold off so the gov’t can realize its return on “investment” of the 30’s.
Given the state of the economy why would anyone want to give Obama a second term? However, the Republicans may succeed again in nominating a McCane/Bob Dole type candidate to please RINOs and “moderates” and give us another four years on the road to economic perdition.
Cancel visas for visiting foreign nationals taking American jobs of all kinds.
****
Yes, and also stop providing free health care to them and all who they bring with them into the U.S. It’s getting pretty old taking care of their 80 year old Indian and Asian relatives who have never paid a dime into the system. I think if we did, we’d see Medicaid cut by 2/3.
And illegals.
But we keep saying ALL of this.
What do you believe is “neo-Keynesian” economics?
0baminomics in action.
next up the "great leap forward" "barefoot" doctors, and backyard steel/aluminum smelting
funny how they always get revised lower... not saying they are complete lies... just saying 1.5% growth can become 3.2% then it gets revised down to 2.5%...
What “Chief Economist” said this?
Yank, better look South. In Dixie, we’ve had it with this fake republic.
We all know the unemployment numbers are bogus.
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