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Wednesday, June 1, 2011

Market Strategist: "We Are on the Verge of A Great, Great Depression and The Fed Knows It"

As the economy begins to stall, there are those on Wall Street who are sounding the alarm.

According to an article in the Wall Street Journal, a Market Strategist for Yastro Origer claims we are on the verge of an economic collapse larger than the Great Depression and the Federal Reserve knows it:

"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......

....."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.


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