CNBC Sounds the Economic Alarm

RUSH: This morning on CNBC Squawk on the Street, the guest here is the research chief economist from Argus, his name is Richard Yamarone. Might be Yamarone, I didn’t hear the name pronounced. The cohost, Mark Haines, says, ‘You, sir, are a pessimistic?’

YAMARONE: I’ve been traveling the country a lot in the last four weeks talking to small businessmen all over the country in different degrees. Chambers of commerce, rotary clubs, they’re all telling me there’s no stimulus, there’s no reason to hire, let alone increase capital spending. There’s no incentives. Any tax incentives that we got last year expired in December. There’s no reason to carry on. They’re not worried about hiring workers. They’re worried about staying in business. So this is what I’m getting and it was that that forced me, those conversations I was having with what runs this country, by the way, the small business.

RUSH: That’s CNBC today. They’re not worried about hiring workers; they’re worried about staying in business. There aren’t any incentives. This is purposeful, folks. It’s time to face the facts. Nobody in their right mind who wanted to really help the US economy would do 10% of what this president has done. It is purposeful to create more crisis to create more demand for government solution and thus more dependence. If you’re trying to sell health care, if you’re trying to sell the concept of nationalized health care, what better circumstance could you have than people losing their health care, because they’re losing their jobs? And we’re now at nine-and-a-half percent unemployment and he doesn’t care the impact on the country of all this. The worse the better; the more chaos the better. Obama’s got a chip on his shoulder about this country. He and all of his friends, administration buddies and so forth, far left radicals have a real problem about the unjust immorality that has always been this country.

Now, Obama, I’ll give you an example, in a nuanced interview, AP calls it, he said affirmative action — now, listen to this — affirmative action can be made an afterthought when problems such as malnutrition, poverty, and substandard schools are dealt with and everybody has a level playing field, which means never. There will never be a level playing field. It cannot be mandated, it can’t be created because people are different. Malnutrition? Where is he talking about, malnutrition? Substandard schools? I thought the stimulus — I expected to see smiling workers with their little Obama hats hammering nails, building schools and roads and bridges and fixing all of the dilapidated infrastructure of the United States. It isn’t happening. None of it is happening. We gotta deal with substandard schools, poverty, malnutrition, and then after that we gotta get a level playing field and then maybe we can make affirmative action an afterthought.