Latest Posts

Freeze BP’s Assets Now!

By Greg Hunter’s

USAWatchdog.com   

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…)

Too Big to Fail Means Too Big to Exist

By Greg Hunter’s

USAWatchdog.com   

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…)

FDIC Insurance Fund Still $20 Billion in the Hole

By Greg Hunter’s

USAWatchdog.com   

While the stock market was beginning its 376 point plunge yesterday, the Federal Deposit Insurance Corporation was quietly putting the best face it could on a banking system in serious trouble.  (more…)

There Are Some People You Just Can’t Help

By Greg Hunter’s

USAWatchdog.com   

A producer friend of mine from my investigative correspondent days at ABC used to say, “There are some people you just can’t help.”  I think it meant that some people were in so deep, were so blind, or were just too block-headed to listen to reason that no matter what you did, or how hard you tried, you would not be able to help them.   My friend is an excellent journalist and producer.  He also has a law degree from Duke University.  I have always been a lot more impressed with his degree than he was.  (more…)

The Same Big Fat Greek Problems are Coming to America

By Greg Hunter’s

USAWatchdog.com

 

We would all like to think the U.S. will not suffer the same problems as Greece.  I am talking about drastic spending cuts to just about everything.  Teachers, police pensions and social programs are all going to take big cuts whether the Greeks like it or not.  It is not just the Greeks in financial trouble, but all of Europe.  You know it is bad when former Fed Chief Paul Volcker says, “You have the great problem of a potential disintegration of the euro.”  (Click here to see the full Reuters story.)  There is no way a pro like Volcker would say that if it was not already a distinct possibility.    (more…)

Is the Financial System Corrupt?

By Greg Hunter’s

USAWatchdog.com 

Recent headlines coming out of the financial world have been jaw dropping.  Here are a few: US faces same problems as Greece, says Bank of England (The Telegraph), World markets rattled by Goldman fraud (The Economic Times), Goldman Sachs faces criminal investigation (Guardian UK), Government Probe into Wall Street Sales Widening (Fox Business), (more…)

Gold Is Money

By Greg Hunter’s

USAWatchdog.com 

The Western financial world is officially in full panic mode.  A nearly $1 trillion bailout of Greece confirms that fact.  Our very own Federal Reserve is providing billions to the effort, but this is much more than a bailout for Greece.  It is a bailout for banks holding Greek debt and the debt of other European nations teetering on default.  (more…)

Earth Day: An Assault On Man

By Brian Sussman

Guest Writer for Greg Hunter’s USAWatchdog.com   

(Mr. Sussman is a Radio Host in San Francisco, CA and has recently released an new book called “Climategate.”)

In recent weeks while addressing Tea Party rallies here on the left coast, I ask the assembled patriots what appears to be an odd question: “Would all those from the former Soviet Union please raise your hands?”  A notable number of hands are always raised — the San Francisco Bay Area is home to a diverse population.  I then ask another curious question: “What does April 22 signify to you?”  Without exception, someone will shout with great displeasure, “Lenin’s birth date!”   (more…)

The Canary is Dead

Greek Riots

By Greg Hunter’s

USAWatchdog.com   

In the early days of coal mining, canaries acted as a warning that odorless poisonous gas was present.  If there was a dangerous gas build-up, the canary would be the first to keel over.  You can use the “canary in a coal mine” metaphor to describe the situation in today’s financial world.  Greece is the canary.  (more…)

Inflation and Bailouts Go Hand in Hand

 By Greg Hunter’s

USAWatchdog.com 

Pick a financial fire and you can be sure the U.S. government will hose it down with gallons of money.  AIG, General Motors, Chrysler, insolvent states, FDIC, Fannie, Freddie and all the banks are just a few of the blazes Uncle Sam has sprayed money on. (more…)

Gulf Oil Spill Spells Higher Prices

By Greg Hunter’s USAWatchdog.com 

A little more than a month ago, President Obama took a big step toward weaning the country off foreign oil.   His bold plan, announced at the end of March, included opening up 167 million acres along the Atlantic coastline as well as parts of the eastern Gulf of Mexico and the northern coast of Alaska for drilling.  (more…)

Nouriel Roubini Talks Doom Again

By Greg Hunter’s USAWatchdog.com 

They call NYU economics professor Nouriel Roubini–“Doctor Doom.”   He got the moniker because his ominous predictions, a few years back, came true.  I really hate the “Doom” name.  I think he should be called “Doctor Right on the Money.”   So, when Roubini talks I listen.   It seems the spotlight is off the U.S. for the moment because of Greek debt and rumors of default.

(more…)

Public Employee Unions Work Against The Public

Greg Hunter’s

USAWatchdog.com   

Unions in this country got started because industry took advantage of workers.  But these days, it seems to be the other way around.  I am not talking about unions in the private sector.  Private sector union workers should be free to get what they can.  If private sector unions get too much (health care, pensions and pay), it is the fault of company management.     (more…)

Housing Sales and Inflation Surge

By Greg Hunter’s USAWatchdog.com 

The big news in the economy last week was new home sales jumped 27% in March.  It was the best monthly increase percentage wise since John F. Kennedy was in office.  What the mainstream media did not tell you was new housing starts jumped up from a very low level– like the lowest level in history!  This chart from shadowstats.com illustrates the point:    (more…)

Failure Is the Only Reform We Need

By Greg Hunter’s

USAWatchdog.com   

There was lots of talk this week about financial reform for Wall Street.  The President gave a speech yesterday on the legislation that is making its way through the Senate.  Obama said, “It is essential that we learn from the lessons of this crisis so we don’t doom ourselves to repeat it and, make no mistake, that is exactly what will happen if we allow this moment to pass (more…)