Weekly News Wrap-Up 12.23.11

Payroll Tax Cut Extension and Ron Paul and Martial LawGreg Hunter’s USAWatchdog.com 

We have a deal on extending the payroll tax cut–for two whole months.  It may put a few extra bucks in the pockets of working Americans, but it is an accounting nightmare for business. This isn’t much of a fix to the ailing economy, but we really don’t have much in the way of leadership on either side of the aisle.  Also, the EU has kicked the can down the road for a little while longer by extending more loans to troubled insolvent banks.  It won’t crash during the holiday season, but all bets are off for 2012.

Meanwhile, on this side of the pond, Fitch is threatening a debt downgrade for the U.S.  Why is this ratings agency going to follow the path S&P has already taken?  The answer is, of course, too much debt, which now stands at more than $15 trillion.   Looks like Romney and Paul are fighting it out at the top of the Iowa polls, while Newt Gingrich takes a dive.  Speaking of Congressman Paul, he says America has been set up for martial law because of the recent passage of the National Defense Authorization Act (also known as indefinite detention.)  North Korean leader Kim Jong Il died this week and will be replaced by his 28 year old son, Un.  He will be backed up by his uncle.  People in the region are breathing a sigh of relief because this nuclear armed country will make a conflict free transition.  All these stories and more from Greg Hunter’s USAWatchdog.com on the Weekly News Wrap- Up.

Comments
  1. Don Stafford

    Newt is down in Iowa but you failed to mention that he still leads in a national poll by a significant number (seems like it was Rassmusen).

    • Greg

      Thank you Don for the clarification. You do know that if Newt does poorly in Iowa his national numbers will take a hit.
      Greg

  2. Art Barnes

    Greg, may the real reason for the season Bless you and yours this Christmas. God Speed. Art B.

    • Greg

      Merry Christmas to you and yours.
      Greg

  3. Sam

    Dear Greg,

    On another site, where they had the story about the $40 tax “cut,” I asked, “Is this all this lousy president can afford?” Of course my comment was censored! “Free speech” under Chairman Barak!

    • Greg

      Sam I’ll post your comment. I see nothing wrong with it. This is your opinion and all views are welcomed here.
      Greg

  4. Margaret O'Keefe

    Greg, Thanks for the solid reporting. I really enjoy the weekly news wrap up, and recommend it to friends. Merry Christmas to you and your family.

    • Greg

      Thank you Margaret for the support and promotion!!! Merry Christmas!!!
      Greg

  5. Jeff S.

    Hooray!!! Congress to the rescue!!

    I’m… so… thrilled…

    Merry Christmas, Greg! Thanks for keeping us informed!!

    • Greg

      Jeff S.
      Thank you for supporting this site! Merry Christmas.
      Greg

  6. Mark Wilson

    National Defense Authorization Act is for martial law alright
    but obama will put the House and Senate in indefinite detention
    then obama will do what he wants. Then we will have no one to speak for the people.

    • g.johnson

      well mark, then perhaps it is time for the people to speak for themselves.

  7. Sean

    The number of reports and sites like USA Watchdog have been increasing for years, warning of the pending economic collapse etc and the failing markets. I think this is fantastic. What I’m not seeing is any feedback from risk managers, investment strategists, and other knowledgeable economists on the right places to move large portfolio’s into safer harbors. Thousands of people are talking about what’s coming, but outside of a rush to physical gold or silver, I’m not seeing anyone offering tangible or realistic solutions.

    So here’s my question: Does anyone have an actual clue on how or where to shelter a modestly sizeable portfolio that would be rediculous to convert to coin?

    I don’t see any advise on this level in any of the market blogs that I follow who are warning on 2012 problems. Financial planners who I’ve been speaking with locally are still obsessed with following typical trend profiles and market analysis etc and I simply don’t trust them, having been majorly burned in the past by sticking to the advice of an experienced planner. I fully understand what’s probably coming but I’m not a financial planner and I’m nervous as hell about making the right moves.

    I’m very serious and would appreciate any realistic suggestions or links.

    Thanks.

    • Greg

      Sean,
      My advise is to buy productive farm land. A retired banker near my mother’s home just bought a few hundred acres of very good crop land. The crops can pay the taxes if it is rented out to a farmer. Anyone else?
      Greg

      • Paul

        Greg –
        Excellent advice! Also, I’d suggest a root cellar to store preserves and vegetables over winter. No power bills!

      • david

        100 acres of farm land here in indiana just auctioned for $13,500.00 per acre, not many can afford that.

        • Greg

          David,
          This is a rush to physical assets and nothing more.
          Greg

  8. Luis Chavez

    Greg

    Thank you for your time and effort to keep us inform.
    Merry Christmas.

    Luis Chavez Romo
    Queretaro, MEXICO

    • Greg

      Luis,
      Merry Christmas to you and yours too!
      Greg

  9. Paul

    Greg, I listen to you on Alex Jones the other day. Thank you for your reporting, and have found another excellent site where truth resides. I have been a Deputy, Police officer for ten years in Florida. In 08 our entire dept. was disbanded. My unemployment ran out early this Dec. My prayer is too find work soon, and for people to wake up, we are in deep trouble. I myself will fight the N.W.O. by whatever means! Merry Christmas to you and family.

    • Greg

      Thank you Paul and God speed on getting that job man!!! I’m pulling for you.
      Greg

  10. M SMITH

    Greg, over at Harvey Organs blog, a person commented that, Harvey was scaring people in the way he was presenting what is really going on with the banks & the general direction the world economics was headed. I went on reading other news & later went back to http://harveyorgan.blogspot.com/ only to find others had defended the way Harvey told the truth. It was refreshing to know others are not being fooled by the lack of coverage by the MSM on the most important news of our lives!

    Greg, again the attacks on Ron Paul by high profile reporters gets louder. Chris Wallace & others say all sorts of crap that is not true. These hard line progressives from Fox do not want a person who can’t be bought off, they say he is so weak on defense that it would put our Nation at a higher risk of a attack, but never said by who! They also fail to say we are & have been under attack from within for over a 100 years. They fail to admit the attack on the U.S. Constitution are from the same group of progressives who brought us the federal reserve banking cartel. They fail at telling the fed is owned by a group of banking families who pay no taxes on the massive profits they make and fail to tell that the fed set up the IRS and their agents to collect taxes to ensure they control the government at all levels. They fail to tell that Ron Paul’s voting record is based on the Laws set by the Constitution and a strong military is to protect the U.S. from any one who declares war on the U.S. or attacks the USA. They fail at all levels of reporting the truth when it comes to Ron Paul and what he stands for. These progressives fear the loss of rubbing ebows with the power elites than reporting the hundred of bills passed into law that are all un-constitutional. None would on the panel would answer what SOPA & the NDAA Act means, they danced around these questions, I wounder why? It’s as you said , the MSM turns from the real major stories & then attack the people who will stand up for what is right.

    Merry Christmas to you & family.

  11. Steve

    I’m coo coo for cocao puffs, i’m coo coo for cocao puffs…. nice new mike Greg, sounds great!!

    Merry Christmas to you and your family. And buckle up for a Happy New Yesr.

    • Greg

      Thanks Steve.
      Merry Christmas to you and yours too!
      Greg

  12. Glenn

    Hey Greg, just wanted to wish you and your love ones a very Merry Christmas. All the best to you in the new year. Let’s hope it’s a kinder world for us all.

    glenn

    • Greg

      Thank you Glenn and Merry Christmas to you and yours!
      Greg

  13. Jan

    Greg
    The two month payroll tax cut is a joke and you are right an accounting nightmare for employers. Why extend it only two months? So the politicians can use it for a political football until the election?

    Merry Christmas! Relax and enjoy the season. There will be lots of news to report between now and next Christmas.

    • Greg

      Jan,
      Merry Christmas to you and Thank you for your involvement in this site.
      Greg

  14. Nebob

    Greg,
    Good job!
    I listen to your weekly wrap up every Sunday morning!
    This world has gone absolutely crazy!
    Keep up the fine work!

    • Greg

      Nebob,
      Thank you for your support!!
      Greg

  15. Wayne

    Greg…as I mentioned in another post the likes of you, Jim Sinclair, Celente, AJ, Chapman, Stadtmiller, etc. are the real MAINSTREAM MEDIA now! These other noisemakers on various national networks are nothing more than a collection of info-babes, useful mediots & denying-distracting-disninformation specialists. Keep yanking on that curtain because they’re about to be unmasked.

    • Greg

      Thank you Wayne. I and others are trying to pull it down and stomp on it!
      Greg

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