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Analyst on CNBC: "We're on the Verge of a Great, Great Depression."

Posted on the 01 June 2011 by Jc_refuge
See the 6:15 mark in the video at the page above. 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. ... We’re on the verge of a great, great depression. The Fed knows it.
"We have many, many homeowners that are totally underwater here and cannot get out from under. The technology frontier is limited right now. We definitely have an innovation slowdown and the economy’s gonna suffer."

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