Talks, last weekend, in Turkey over Iran’s nuclear program have produced yet another round of discussions in Iraq scheduled for about this time next month. The West wants Iran to stop enriching uranium and shut down its not-so-secret underground facility. Nothing but a new round of talks May 23rd has been agreed upon. Israel is not included in the negotiations but said that Iran got a “freebie” in that Iran is free to enrich uranium without a single concession. Negotiators are the U.S., Germany, France, Britain, China and Russia.
The so-called “recovery” story is constantly being pushed by the mainstream media. The latest sign the “recovery” is not really a recovery comes from the housing sector. An unexpected 2.6% drop in existing home sales threw cold water on the recovery story. At bet, the recovery is uneven, but that’s what you get when you bail out Wall Street with printed money, mass layoffs and government sanctioned accounting fraud. Companies can value assets at whatever they think they can get for them in the future so depreciated assets look pretty good on paper, and there’s no stopping bonuses because of fantasy accounting.
The EU debt crisis just went from bad to worse with news Spain is in deep trouble, and so is Italy. Could this be the one, two knockout punch for European banks? One fund manager says central banks will print money for bailouts, but there will still be bankruptcies and panic coming soon. He predicts gold will go higher? Greg Hunter of USAWatchdog.com gives his analysis on these stories and more in the Weekly-News Wrap-Up.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.