Obama is the worst jobs president since the Great Depression. More than 40 million Americans are now receiving food stamps, a record.
Thanks to Obamaâ€™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.
â€œWhat weâ€™ve got right now is almost near panic going on with money managers and people who are responsible for money,â€ he said. â€œThey can not find a yield and you just donâ€™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.
â€œWe 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. Thatâ€™s a huge mistake.â€
Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.
â€œInterest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,â€ Yastrow said. â€œWeâ€™re on the verge of a great, great depression. The [Federal Reserve] knows it.