Economic slowdown fears thrashed Wall StreetWednesday, a day that saw one market strategist telling CNBC that we're headed toward a greater calamity than the Great Depression.
Perhaps Peter Yastrow of Yastrow and Origer was just having a bad day, considering the Dow plunged 280 points due to a realization that the economic "recovery" might be illusory. Or maybe, he and others are finally voicing fears shared by "fringe" market observers.
"Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything," Yastrow told CNBC. "We're on the verge of a great, great depression. The [Federal Reserve] knows it."
Yastrow also said there is confusion about where to invest money, but cautioned bears against selling stocks due to their relatively high dividend yields. [continue reading]
Eric Ingemunson's commentary has been featured on Hannity, CNN, NBC, Inside Edition, and KFI's The John and Ken Show.
Eric was born and raised in Ventura County and currently resides in Moorpark. He earned a master's degree in Public Policy and Administration from California Lutheran University. As a conservative, Eric supports smaller government, less taxation, more individual freedom, the rule of law, and a strict adherence to the Constitution.
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