Jun 2011 | 11:06 AM ET
“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.”
“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.”
However, he said he wouldn’t sell stocks.
“Any bears out there better be careful because the dividend yields on these stocks look awesome relative to all the other investment vehicles out there,” Yastrow said. “So bears are going to have to find a new way to express their discontent with the U.S. economy.”
- Near “Panic” (fellowshipofminds.wordpress.com)
- Echoes of the great Depression- Wall Street tumbles as economic woes persist (theextinctionprotocol.wordpress.com)
- Dow Tumbles 200 points: “We’re on the verge of a great, great depression. The [Federal Reserve] knows it. (atlasshrugs2000.typepad.com)
- Peter Yastrow Tells CNBC ‘We’re on the Verge of a Great, Great Depression’ (VIDEO) (blippitt.com)