By Greg Hunter
Fed Chairman Ben Bernanke gave testimony to the U.S. House Budget Committee a couple of days ago. His preposterous statements seemed to go unquestioned by the Committee. So, I am going to tackle the highlights, ask a few questions and make several statements of my own that I think should have been made by our Congressmen. (more…)
By Greg Hunter
USAWatchdog.com
Gold hit another all-time high yesterday! According to gold website Kitco.com, “. . . investors continue to seek out the precious yellow metal as a safe-haven asset amid heightened financial, economic and geopolitical uncertainty. One market watcher in a wire service report summed up nicely gold’s recent price action, saying “it’s a warm blanket on a cold day.” August Comex gold closed up $4.80 an ounce at $1,245.60 after hitting a new high of $1,254.50 in early trading.” (more…)
USAWatchdog.com
A buddy of mine, who is a business broker, recently told me, “I have never in my life seen more broke people.” I told that little quote to a car salesman I was talking with over the weekend, and he told me, “Don’t I know it! I am in the car business, and I see it all the time.” Those are not the words you hear from the front lines of business that say a so called “recovery” is at hand–quite the opposite. (more…)
By Greg Hunter
There was a lot of talk this week about an improving job market. It seems everybody is talking up a turnaround in the labor market. Some CNBC anchors, yesterday, put their usual optimistic spin on the topic of May payroll and unemployment numbers due out today. Guess what? The numbers are already looking pretty good but not that good! (more…)
By Greg Hunter
President Obama finally took ownership of the oil gusher in the Gulf yesterday. A National Commission on the BP oil spill has been formed by the White House and will be headed by former Senator Bob Graham of Florida and former EPA Administrator Bill Reilly. In prepared remarks, the President said the ongoing calamity off the coast of Louisiana, “. . .is now the greatest environmental disaster of its kind in our history. Their job, along with the other members of the commission, will be to thoroughly examine the spill and its causes, so that we never face such a catastrophe again.” (more…)
By Greg Hunter
I am seeing increasing chatter and stories on the Internet about a coming collapse or calamity. Below is a list of dire predictions put together on Rense.com. I have started with just the first two. The people making the predictions are legitimate and big thinkers. (more…)
By Greg Hunter
The runaway gushing oil well in the Gulf of Mexico is an unmitigated national emergency. The mile deep, broken well is vomiting oil at a rate of at least 56,000 barrels a day according to Steven Wereley, an associate professor of mechanical engineering at Purdue University. That is 10 times higher than BP’s 5,000 barrel a day estimate. (more…)
By Greg Hunter
Both the House of Representatives and the Senate have passed their versions of financial reform legislation. Now, the process of reconciliation takes place between both bodies of Congress to iron out a final bill the President can sign into law. There is plenty in the bill such as new consumer protection, increased power given to regulators to prevent systemic risk, and new powers to oversee the $600 trillion derivatives market. (more…)
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