Today, CNBC, a media outlet that was an unofficial arm of the 2008 Obama campaign, rang the fire alarm on the US economy. Below, CNBC refers to "near panic," a "sputtering" economy, "low yields," on the verge of a "Great, Great Depression." No, this isn't FOX News, Glenn Beck, or even Rush Limbaugh. It's... brace yourselves, folks... it's from N... B... C.
01 Jun 2011 | 11:06 AM ET
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... 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.
"We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."
If this Republic is to survive, we need to elect a president in 2012 who will operate using a playbook unknown to the Left:
The document upon which politicians swear to the Creator to protect and uphold. And then, in the case of Barack Obama, promptly ignores.
The Constitution. Faith, family, individual liberty, private property rights.
Not big government, unchecked entitlements, mandated light bulbs and shower heads; not Europe-lite.
The Constitution. Thousands of years of human experience codified into a single document that created the greatest system of government ever seen on the face of the Earth. Not perfect, because no system is perfect, but the most perfect ever created.
We need to elect a president in 2012 that will protect all Americans, not the racial separatist groups, not the race-baiters, not the imploding welfare state addicts, not the politicians addicted to unlimited power. A president who will protect all Americans and, by logical extension, the American system of government itself.
It's 2012 or never.