Excerpts from CNBC.com...
Wall Street Baffled by Slowing Economy, Low Yields: Trader
"What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,"
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. We’re on the verge of a great, great depression. The [Federal Reserve] knows it."
WOW! Only 38,000 jobs added to the economy in May!? What gives? Obama, and all our liberal buddies claim the stimulus has worked beautifully! Obama said it hahttp://www.blogger.com/img/blank.gifs worked "as planned"! Could this then have been the plan all along? to ruin the U.S. Economy?
Another question. Is Wall Street truly 'baffled,' or is that merely CNBC's take; that they themselves are baffled? If this is the case then I can't see how CNBC, at least, could be said to be waking up. They're still sipping the kool-aid.
Over at Drudge Report is the following list of bad economic news, in red.
Dow tumbles 200 Points
Private Sector Jobs Grew By Only 38,000 in May
Planned Layoffs Up
Manufacturing Slows
Obama bailout of GOV'T MOTORS to cost taxpayers at least $14B
Fair Warning, Liberals... if your man Obama continues this trend you're gonna lose next year.
And how's this for a sign of the times? Talk about Washington disconnect!!!
Congress Mulls Cuts to Food Stamps Program Amid Record Number of Recipients
Prepare for More Money Printing: Analyst
Too many people are on Food Stamps, so cuts need to be made (a 39% increase under Obama)... oh, and by the way, QE3 is at the door, wanting to make things worse for the people on Food Stamps, and those who are not, alike.
Welcome to Obama's America.
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