Weekly News Wrap-Up 5.4.12
By Greg Hunter’s USAWatchdog.com
Is Israel preparing for war? It was reported, this week, that six reserve battalions were called up because of increasing tensions on both the Syrian and Egyptian borders. The Israeli government gave the okay for an additional 16 more reserve battalions if needed. A battalion can be as many as 1,200 soldiers. In Syria, the White House says it’s time to try another tactic because the cease-fire is constantly being violated by the Assad government. It did not say it was going to resort to military action.
A top Russian general threatened to strike NATO missile-defense bases in Eastern Europe before they are operational. It is not clear whether he was talking for the Russian government or just out of line. At any rate, it is an interesting look inside the thinking of top military commanders in Russia. President of France Nicolas Sarkozy is 6 points behind in the latest poll. His competitor, François Hollande, is anti-austerity. This will only add to the uncertainty in the Eurozone debt crisis. Spain is the latest country to plunge into trouble, and Italy is not far behind. Egon von Greyerz, the head of Matterhorn Asset Management, says the situation we are going into is “much worse than 2008.”
Finally, back here at home, lots of soft numbers coming out about the economy in housing autos and unemployment. The economy looks like it’s rolling over, and the signals coming out of the Fed are coming down to printing more money to keep the banks and the economy from going under. I think lots more money printing is a sure bet in an election year—damn the inflation. Greg Hunter’s USAWatchdog.com brings you these stories and his analysis in this installment of the Weekly News Wrap-Up.