Weekly News Wrap-Up 2/1/13

10By Greg Hunter’s USAWatchdog.com 

The Middle East and North Africa are hot and getting hotter in terms of war and conflict.  Pick a country from Mali to Egypt or Yemen to Syria; there are wars and rumors of war.  Israel jet fighters attacked a convoy in Syria this week.  Israel says it was missiles to be used against Israel.  Both Syria and Iran say they will retaliate.  The U.N. says it is “gravely concerned” about the escalation of violence.  Russia, which is backing the Assad Regime in Syria, calls the situation “unacceptable.” 

Meanwhile, the Iranians are speeding up their nuclear enrichment program.  Henry Kissinger warned recently that crisis involving Iran’s nuclear program is drawing near.  How near is anyone’s guess, but the sings are there for war to break out in the Middle East and North Africa that could threaten oil shipments coming out of those regions. 

Back here in the U.S. there was a surprise contraction in GDP of .1%.  The mainstream media is saying it’s no big deal, but it is a very big deal.  The economy should be taking off like a rocket.  Consider the Fed is pumping out $85 billion each and every month to infinity, along with the Fed policy of suppressing interest rates for everything.  Along with that, the government has been allowing phony accounting since 2009.  We should be hitting 10% growth, and the economy should be circling Mars.  Instead, we are getting a contraction?  This is the best spin the government can come up, a -.1% contraction?  What is the real number, -1% or maybe -2%? 

Is the Fed going to increase the money printing, or decrease it in light of this most recent contraction?  I’m going for turning up the money presses to an even higher speed.  “Bond King” Bill Gross of PIMCO thinks the same thing.  This company has $1.3 trillion in assets.  He wrote a post on his company’s website called “Credit Supernova.”  In short, he thinks the credit and money printing expansion is going to go on until it explodes.  What is he telling his people to buy?   His answer is “. . . gold . . . (or) anything that can’t be reproduced as fast as credit.”  

Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.  

Comments
  1. Rev. William Joslin

    Great report as usual Greg! I wish I could afford to donate this month, but, unfortunately, I’m a bit tapped out after donating to the NRA and GOA to help defend our second amendment rights. But, I do appreciate all your hard work. When I am able to I will send another donation to help you in your important mission. On another note, that’s great advice about getting into tangible assets. We are in the process of purchasing some ajacent land and expanding our homestead. They can’t print real estate, right? Thank you for all you do!

    • Greg

      Rev.
      Thank you for being a part of this site!
      Greg

  2. Brody

    Hi Greg,

    Another week of news as it should be reported. You mentioned WW3 which I do believe is coming quick, but I also feel its already started. Like the names of wars passed, the “great war” the “Phony War” I beleive our children will be thaught this was the “secret war.” Think about how many nations are all involved in the same mess in the same areas of the world right now and have been for some time. But you are right, its only a.matter of time before the mercury rises more and blows the lid off this underplayed time of history.

    • Greg

      Thank you brody for adding your perspective!
      Greg

  3. jc davis

    The spin is already in the making. I saw this on yahoo.
    “Frankly, this is the best-looking contraction in GDP you’ll ever see,” said Paul Ashworth, chief U.S. economist at Capital Economics. “This isn’t the start of a new recession.” Like the music on the titanic. Greg thanks for such a great week of educational articles. There should be a WARNING sign on your site that reads. DANGER ENTERING THIS SITE WILL EXPAND YOUR MIND. Have a safe weekend.

    • Greg

      JC Davis,
      That’s like saying someone is a great looking corps in the morgue. Thank you for the comment and MSM spin quote.
      Greg

  4. jim H

    Happy Friday Greg and fellow watchdogs.
    I don’t think there is any question that everything Greg said in this video is true. My big question is the why and how. Here are 10 minutes out of a very good 69 minute video by a great Patriot who left us but his parting message is clear.
    http://www.youtube.com/watch?v=h9Wsb4qBckU
    For several years I struggled with whether there were dark forces doing horrible things hidden behind good motives or if all this truly went down the way we’ve been told by our officials and media. One thing for sure, if one understands how to compartmentalize (set things up so the right hand doesn’t know what the left hand is doing), much can be accomplished.
    I do know since deciding in favor of the dark force issue it’s freed up much time for me to follow the money.

    • Greg

      Thank you Jim H for the comment and the link.
      Greg

  5. Albert Tesla

    WWII worked wonders for us during the great depression, and WWIII will work wonders for the collapsing global economy. All of this is one intricate, beautifully planned play.

    • Greg

      Albert Tesla,
      I think you are spot on man! Thanks for the comment.
      Greg

  6. tsuki

    Dear Greg,

    You might find this interesting. Successful defiance of the USA is not allowed.

    FBI Agents invaded Iceland in August of 2011 to investigate Icelandic citizens involved with Wikileaks. Parliamentarian Birgitta Jónsdóttir is afraid to travel outside Iceland for fear of arrest by the US, or worse.

    http://www.clevelandleader.com/node/20013

    When the Icelandic government found out, the FBI Agents were expelled.

    Note to the FBI…Wall Street is closer than Iceland.

    • Greg

      Tsuki,
      Thank you for bringing this to us. Good perspective and I love the last thing you said, “Note to the FBI…Wall Street is closer than Iceland.”
      Greg

      • al

        Re: wall street

        Pls note that it is difficult to arrest your boss.

  7. art barnes

    Greg, GDP contraction, oil prices on the rise, national unemployment percentage up again, 38,000 more claims for unemployment insurance this week, debt ceiling kicked down the road once again, etc.;this doesn’t look like a recovery and it isn’t. The MSM must go into overtime to control & spin this into “nothing new” here or “not that bad”. Our forth branch of government is out in force beating the “chicken in every pot” misinformation. Wait till the “street” finally decides its numbers must have something to do with reality, the crap will hit the fan leading to war as the elite will not go down alone.

    • Greg

      Thank you Art.
      Greg

  8. Troy

    LET ISRAEL FIGHT IT’S OWN WARS SAY I!

    ‘things you can sink your teeth into’ That’s what we are seeing all around the world right now, and if you can’t pay for it, buy with the point of a bayonet.

  9. Diane Carol Mark

    Morning Greg,
    “…the world is going to be thrown into war.” Well, I’d say that we’ve been at war for a very long time, and this is a possible broad escalation in a series of wars. And, you’re right. We can tag it as “an unprecedented new war”, if it occurs.

    When I turned on Prison Planet Nightly News last night as usual, I was shocked at the headlines and had to replay the first few minutes of Melisa Melton’s intro about 4 times. “This is the nightly news?!” I thought.

    As if we don’t have enough issues to deal with on our planet. It’s a time to come together as an entire human family to heal our global enviornment so we have a healthy planet to sustain us, our children and grandchildren, all the animals and other more-than-humans … like that term, more-than-humans :) But, some folks who seem to be calling the shots are more-than-brain dead, instead!

    Just one of the big questions is, “Why is it that those ‘more-than-brain dead’ people are in the position of calling the shots, while those of us (yes, I do include myself) who have a conscience, are as aware as possible, are relatively enlightened, do speak up and are engaged in numerous beneficial conversations, are in leadership positions in our communities, are educated in the true sense of the word (in values), aren’t yet able to turn the tables and take the reins?!?”

    :) Diane

  10. frosty

    Greg,

    If we have a WW-III, I doubt whether it will be as good for the economy as some believe it will be based on what happened with WW-II. WW-II was fought “over there” while WW-III will likely include attacks on our home soil. Furthermore the weapons of WW-II were primitive compared to those that would be used today.

    Here’s what Albert Einstein had to say about it.. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.”

    Under that scenario, I don’t think we will have to worry as much about Bernenke and the Federal Reserve as we will about spiritual issues that we currently so proudly ignore today.

    • Greg

      Frosty,
      You are correct sir. War, especially the kind of war that is coming will Not be good for the economy or for just living life.
      Greg

  11. earltwitty

    All I know is I’m out a ton of money staying out of the stock market. (If I sold the shares). No use getting in now it’s due to dump. It all seems to good to be true.

  12. Steven

    Greg,
    Another great report.
    Very scary times ahead for the whole world.

    • Greg

      Thank you Steven. Don’t give up hope. Just spend everyday trying to put you and your family in the est place possible.
      Greg

  13. Sean S

    Right on Greg.

    But these GDP numbers are only preliminary estimates so the finalised numbers to be released later could well be worse.

    According to the official statement:

    “The Bureau emphasized that the fourth-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see the box on page 4
    and the “Comparisons of Revisions to GDP” on page 5). The “second” estimate for the fourth quarter, based on more complete data, will be released on February 28, 2013.

    The decrease in real GDP in the fourth quarter primarily reflected negative contributions from private inventory investment, federal government spending, and exports that were partly offset by
    positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased.”

    All this money printing which is designed in part to weaken the dollar and promote exports (the big salvation they are banking on for the US economy)is seemingly not working. Instead of exports being up for the quarter they are down.

    As usual no one in the main stream media is calling into question the validity of the real GDP figures (ie. GDP adjusted for inflation). The inflation adjustment factor that is applied to the nominal GDP calculation is ludicrously/unrealistically low so the “real GDP” figures that are officially trumpeted each quarter are statistically overstated and invalid. Thus when you see a positive “real GDP” figure of,say, +2%, it is really nothing more than a reflection price inflation in the raw data that has not been entirely factored out because of a phoney deflator that is being used. It is not growth at all.

    Every time we see the real GDP figures announced we should be publicly querying their validity.

    Another excellent article this month by Bill Gross. Thank you for highlighting it. People should also be reading Mr Gross’ January article entitled “Money for Nothing Writing Checks for Free.”
    http://www.pimco.com/EN/Insights/Pages/Money-for-Nothin-Writing-Checks-for-Free.aspx
    When people of the calibre of Bill Gross are issuing the warnings they are, in my view you really had better stop, listen and pay attention.

    • Greg

      Sean S.
      Thank you for your comment and for adding great content to the site!!
      Greg

  14. Mike Preslar

    The “Brain Dead” calling the shots aren’t really brain dead. They know exactly what goes on behind the scenes. It’s like George Carlin once said, “It’s a big club, and you ain’t in it.”

    Wouldn’t it be amazing to wake up one day to Mainstream Media headlines that said;

    Unemployment 22-23%
    Inflation 12%
    The FED pumping $85 Billion a month into failed Banks and Bonds
    U.S. Unfunded Liabilities over $223 Trillion
    2012 Deficit over $6 Trillion
    U.S. Black OPs invade 75 Nations
    Goldman/Sachs and JP Morgan Chase take over U.S. Treasury

    Do you think Americans would finally wake up?

  15. DAVE

    Hi Greg
    I believe in the coming world war but as in the past the govt. has always been ahead of the curve so on that note what would work best for the elites?The middle east would be a nice distraction and would raise GDP but it wouldn’t solve our debt issue’s.So what would be the perfect war?
    We all know that the previous wars were engineered via false flags.Recently HLS has warned of impending cyber attack that would take out financial markets,utility grids,ect.Think about it.Would this not be ideal??Just like 811 ,this would wipe out a lot of money.It’s always hard to speculate but i still believe this to be there best out.your thoughts
    Thanks Dave

    • Greg

      Dave,
      We live in a crazy lawless world. Nothing would surprise me. You just got to be ready for anything. Thank you for your thoughts.
      Greg

  16. jc davis

    Iran has a new jet fighter.
    http://news.yahoo.com/ahmadinejad-unveils-irans-newest-fighter-jet-072733644.html

    • Greg

      JC Davis,
      These are not stupid people. Thank you for the content and link.
      Greg

  17. Mickey

    Greg, what the hell is going on, fairewinds.org has been attacked for their reporting on the Nuke plants in the US & japan/404! The people who try to shut up fine folks like you & those like the people/experts on nuclear power at fairewinds who only tell the truth are being hit hard, what is the NRC hiding? Many must be getting very scared of be exposed for their dirty deeds!

    How long befor the people wake up? GOD Bless all of you who stand up for our GOD given Rights!

    • Greg

      Mickey,
      I hope these folks pay to have folks standing by to fix problems from attackers and hackers.. I do, and it is well worth it when something goes haywire. My site was “404”ed about two weeks ago. Having backup 24/7 technical help is a hidden expense of any well protected site. Thank you for your reporting and thank you ( and everybody else) for supporting the site.
      Greg

  18. Fred

    Math don’t lie but when the formula is so complicated, it is like that to hide something. Like our tax system that provide so many loop holes only for the rich to pay less. Got to love the way government kept changing the formulas to make things look better then they really are. If GDP were to increased by 1% but inflation is 8%, what we really have is GDP contraction of -7%. Oh yeah and anyone who has been buying groceries knows inflation is not 2-3% that the gov want you to believe, it is more like 7-9%. It seems like every trip I made, the price kept going up.

    The guns of war is already loaded and cocked. It will be fire right before the moment of economic collapse to divert attention and shift the blames.

    Last – I’m working my donations to USA watchdog into by budget much like a utility bill – a very necessary one. I can only hope everyone try to do the same. Fighting for liberty is a continuous process for the devils never sleep. Hack, I gladly skip few McDonalds and Starbuck, need to loose few pounds any way.

    Thanks Greg for your hard work and dedication.
    Fred.

    • Greg

      Fred,
      According to Shadowstats.com your 7% to 9% inflation calculation is spot on. (This is what it would be if it were calculated by the Bureau of Labor Statistics using 1980 methodology.) Thank you for supporting this site and for your kind words.
      Greg

  19. Jeff C

    Thanks Greg, for another ‘spot-on’ weekly news wrap.

    • Greg

      Thank you Jeff C for the support!!
      Greg

  20. Ken

    I guess it’s inevitable,the fact that history repeats itself. But this time, if it happens or maybe I should say when it happens, the war will be different, the leap in technology is frightening. Sometimes the feeling of hopelessness is overwhelming when looking at what’s going on in the world. No, I’m not a “gloom and doomer”, I am a realist and I am preparing in every way I can as we all should be. I’ve sent many people to your website, and have had mostly good responses from them. So maybe there is a little more hope than I thought. To all, stay strong and true and thank you Greg.

    • Greg

      Ken,
      Thank you for sending folks to the site. The viral promotion is the best thing!!
      Greg

  21. Fred

    “Meanwhile, the Iranians are speeding up their nuclear enrichment program.”

    So what? Good luck to them. If they get a “nuclear deterrent” maybe everyone will leave them the heck alone.

    • Greg

      Fred,
      What complicates the situation are the proxies Iran is supporting to attack Israel (Hamas and Hezbollah.) What the Israelis are afraid of is a dirty bomb or close range nuclear bomb supplied by Iran. The whole thing is a complicated mess with plenty of sin to go around. Celente is correct: The world is going to war whether we like it or not. Thank you for your comment.

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