Wednesday, June 01, 2011

But, Melvin, he's so historic: 'we’re on the verge of a great, great depression'

LC writes:

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.

Oh, my.

Wall Street Baffled by Slowing Economy, Low Yields: Trader

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 Constitution.

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.


mlytle said...

Well, I don't like Obama either, but the Right has done nothing for us either, both parties let the major corporations and banks fleece us.

I noticed your comment said nothing about reining in the out of control military budget. So, you just want us fleeced by a different group then the current one.

So who cares?

directorblue said...

@mlytle -

So you don't have kids?

Nephews or nieces?

You're not willing to step up and protect this country from the tyranny (fast in the case of Democrats, slow in the case of RINOs) gradually encroaching on us?

Forget the military budget - it's a pittance compared to the entitlement programs.

We need to return the federal government to its constitutional boundaries.

Socialized medicine ain't part of those duties.

Defense is.

Defense is actually affordable.

"Free health care for all" can't be paid for, ever.

feeblemind said...

I hope 2012 is not too late.

Even if there is a GOP Presidential victor, he will need a House majority and probably a filibuster proof Senate, and even THEN, the repubs will need a mighty dose of resolution. Something they are sadly lacking now.

All in all it sounds like a long shot.

Anonymous said...

Could somebody please explain why Obama is supposed to be so invincible?

What has he done besides letting others take out OBL?

Anonymous said...


Well, I don't like Obama either,

Then why are you shilling for him?

but the Right has done nothing for us either,

You mean besides reigning in out of control entitlement spending and protecting the nation from the threat of Islamic and Communist aggression?

both parties let the major corporations and banks fleece us.

Spoken like a true Marxist, trying to sound like a moderate – rolling snakes eyes on that one sparky

I noticed your comment said nothing about reining in the out of control entitlement spending.

So much for your credibility pal.