I don't know any Yiddish (although my grandparents all spoke it as a second language and my great-grandparents spoke it natively), although it's certainly the case that "oy vey" and "oy gevalt" are common expressions of dismay or exasperation (the latter being more intense than the former).

As best I understand it, Yiddish is a dialect of German spoken by Eastern European Jews (and their diaspora), and when I've seen it written down, it's always been with Hebrew letters. These days, a certain amount of Yiddish has made its way into standard U.S. English usage, particularly in New York, although it tends to focus on the basic one or two-word expressions, not anything as long as the quote, above.

My favorite, for what it's worth:

Q: What's the difference between a schlamiel and a schlamazel?

A: A schlamiel is the one who drops a piano out of the window. A schlamazel is the one it falls on.