Weekly News Wrap-Up 10.5.12

Greg Hunter’s USAWatchdog.com 

The first Presidential debate is wrapped up, and it looks like Republican challenger Mitt Romney scored a big victory against President Obama.  Romney zinged Obama a couple of times and looked way more prepared than the President.  When Obama brought up the nearly $3 billion in tax credits given to oil and gas companies, Romney fired back with $90 billion to green energy companies, most of which have failed or are not making a profit.  Romney also scored points describing the way “Obama Care” was pushed through without bipartisan support in Congress.  When Romney was Governor of Massachusetts, he pointed out he got bipartisan support from a deeply Democratic state. It seems, every week, there is a new wrinkle in the Middle East.  This week, Syria and Turkey traded shots across their borders.  Syria fired mortars into Syria, and Turkey shelled Syrian troops.  Turkey says this is the 8th such attack from Syria since the 18 month old civil war began.  The Syrian army is shooting at Syrian refugees that have fled into Turkey.  Turkey says it does not want war, but it’s still shooting.  This is a nasty little development because Turkey is a NATO member (North Atlantic Treaty Organization).  Syria has apologized and says it will not happen again.  Syria shot down a Turkish reconnaissance plane in June.  By all accounts, it looks like the Syrian conflict is spreading, not shrinking.  Finally, the Fed announced another round of money printing this week, and Gold and Silver prices popped.  Bill Gross of PIMCO (with $1.3 trillion under management) says if the U.S. keeps printing money, stocks and bonds will be worthless, and Gold and Silver will be the few investments worth having.  Gross says the U.S. government is hooked on “budgetary crystal meth.”  Finally, crops in the Midwest have taken a big hit this summer because of the drought.  Soybean crops have been reduced because of lack of water at the right time.  Expect food prices to be up next year because soy is a key ingredient in many food products.   Join Greg Hunter as he gives his analysis of these stories and more in the Weekly News Wrap-Up.

Comments
  1. Bill Britt

    Thanks again Greg
    Wished you did it daily . Keep up the great news service.
    Bill

  2. art barnes

    Greg, Iran has an real hyperinflation situation which was overshadowed by the FED printing & the debate this week and got little attention. The Washington Post is reporting 40 percent inflation in just a few short months. Some protest reported and much discontent. I suspect that Iran’s government might do something to provoke a war if its people start to become unmanageable. As you said the middle east in the news every week. Iran’s hyperinflation is part sanctions and part government reduced subsidies for food and basic staples; this is so because its oil revenue has been cut to about 1,000,000 barrels a day, mostly to China, but that is about $90,000,000 per day for a country of 75,000,000 people; Iran simply can’t afford to subsidize its economy any longer with reduced oil revenue causing commodities to rise. Was is on the horizon because you can’t expect the ruling government to go quietly to the desert and munch on almonds and curse Zion allowing its people to go western with its Ipods and short skirts. One week your wrap-up I predict will only talk about the middle east.

  3. Mister Salty

    I’m voting for Gary Johnson and I am an old world conservative (paleo-con).

    Paleoconservatism…
    Tradition, limited government, civil society, anti-colonialism, anti-corporatism and anti-federalism, along with religious, regional, national and Western identity.

  4. jay2

    WOW Greg. Oh my G… This is the most important wrap up ever done. It should be run on national tv every thirty minutes. Chemtrails are causing the drought/ low yeild in crops. turks are key to peace in the middle east,and pollitics are laughable at best.(At best!) Great work my friend..Great work.

    • Greg

      Thank you Jay2 and James for the comments.
      Greg

    • JEFFREY

      … right on jay2 about the chemtrails and weather control to ruin the crops ! Why can’t people just look up and open their eyes ; what’s this synthetic stuff in the air these days too … ? Jeffrey PS- THANK YOU GREG FOR BEING TRUE TO THE BEST OF YOUR ABILITY TO HELP US KNOW

  5. james

    How about those magic unemployment numbers? Me thinks the feds need to put a new $300.00 pair of AA batteries in their $600.00 four function calculator.
    James

  6. Henry

    Great weekly report Greg! It’s pathetic that Gary Johnson was excluded from the debate. The people controlling our so called democracy definitely work diligently to control the message. As you’ve pointed out in the past, Ron Paul was given similar treatment during the campaign. Someone once said, in times of deception, telling the truth is a revolutionary act. Can’t have that..
    On another note, I don’t understand why 15 year mortgage rates are at record lows. With money printing and inflation, seems like lending money at a fixed rate would be a losing proposition because the money you’ll be paid back with won’t be worth as much as the money you loaned. What am I missing?

    • Greg

      Henry,
      The Fed has stated it is buying mortgage-backed securities to the tune of $40 billion a month. it is doing this to suppress interest rates and it’s working. Of course there is a cost to all of this and it is inflation. Thank you for your comment and support.
      Greg

  7. Jan

    Greg,
    I think every state needs an open Primary to break the power of the two party system. In my state I have to be registered with one party or the other or I cannot vote on my candidate of choice. What choice?

    The public seems to want to vote for the President, like they are voting for Prom King. The MSM tells them the “most popular” and they vote because no one wants to vote for the loser.
    I sure wish more people would have voted for Perot, he was right on the money and how the wealth and our jobs would be sucked out of the country. Everything he predicted is today’s reality.

    • Greg

      I think you are correct Jan. Thank you for weighing in here.
      Greg

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