While Barack Obama and fellow Marxists dream on about a “Summer of Recovery,” the cold, hard facts paint a far less rosy picture for the American economy.
In fact, rather than a double-dip recession which had Obamamites scared witless what with elections just around the corner, there is a growing fear that huge federal deficits, reckless and irresponsible spending, and other fiduciary malpractice committed by liberals may lead to much, much worse trouble.
As reported at the reference, in part:
“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.”
Amazingly enough, while the financial news keeps getting worse, liberals like Obama, Harry Reid,Nancy Pelosi and others remain in denial and continue to call for increasing the debt ceiling while spending more.
What will it take to convince the Left that the policies pushed by Obama, Reid, and Pelosi are the cause, at least partially, of the problem rather than the solution?
Reference
http://www.cnbc.com/id/43236764
