By the Left Coast Rebel
The market's down big today and
U.S. companies hired far fewer workers than expected in May and output in the manufacturing sector slowed to its lowest level since 2009, raising concerns that the U.S. recovery is running out of steam.Margo D. Beller at CNBC (m) thinks that Wall Street is "baffled" by the weakness of our economy:
Economists slashed their forecasts for Friday's closely watched U.S. payrolls report after private-sector job growth tumbled to just 38,000, its lowest level in eight months.
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.Even the Messiah cannot escape the simple fact that his policies suck and have created the biggest "recovery" that isn't with the worst job market since....well since anyone can recall.
"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.
"We 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. That’s a huge mistake."
Although, it's not like our Leader was sold to the gullible public as the One to give them free goodies and shower them with cash from heaven (where He came from), right?: