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.

Comments
  1. Scott

    Greg,

    Great observation on Krugman. He has a lot of sway with progressives and liberals, so like you imply, the Banksters at the Fed might be using him to soothe any fears they might have about another round of massive counterfeiting. I heard him state he thinks inflation is great for the economy. No need to save. Borrow and spend!

    Nowadays, I question anyone who gets a Nobel Prize. He deserved his about as much as O’bomb’em deserved his Peace Prize.

    • Greg

      Thank you Scott.
      Greg

  2. Brent

    Greg, you nailed it regarding Krugman. He does not even believe what he is saying. As Gerald Celente puts it….Harvard, Princeton, Yale….bullets, bombs and banks.

    • Greg

      Thank you Brent.
      Greg

  3. art barnes

    Israel is not bringing up reserves because of Egypt and Syria, but because of Iran. It is a shot over the bow to the Administration that Iran is again stalling with talks and more talk. I believe the President’s and his Administration has secretly a “containment” policy concerning Iran; meaning, Iran will be allowed to go nuclear but will be contained instead of stopped. Israel in my mind understands this and therefore will not wait forever for the U.S. to act (because it won’t under a containment policy) and is getting ready to act. If a country has time to prepare for war the reserves have to be called up for service especially if it is believed to be more than a short skirmish.

    The Russian general is another example of a country without leadership and stability, in all probability the loud mouth spoke after a bottle of vodka and fish eggs to impress his mistress and friends at a Mayday celebration.

    Finally Greg, you are so right the FED is going to fed the pigs again with the working American be damned. Remember that the average working Joe’s first and basic enemy is inflation, especially when wages are not rising and employment hours are being lost. The FED is not a friend of the working class, but the investor class. Maybe as basic Americans we should become aware of just who are friends are and who they are not.

    Finally, nice work again this week Greg, your a great American.

    • Greg

      Art,
      Yes but the reports say it’s to reinforce the borders with those countries. I did mention how it may be in response to some action the IDF takes against Iran but your are correct. In the end it is because of Iran and the Israeli fear of an attack by their proxies. Your points are well made and well taken. Thank you for you involvement with this site.

      Greg

  4. Jim

    Sorry but I am dropping you from my bookmarks for your comment on the Russian preemptive strike. Missile bases in Poland to protect against Irainian missiles. LOL. What a joke. Do you think only NATO and the Empire have a right to defence.

    • Greg

      Jim,
      This story was widely reported. I am sure the bases are for any incoming missile. If Russia is free to develop the same defensive missiles. Sorry you are leaving. All the best to you.
      Greg

  5. SilverPhoenix2012

    Thanks again Greg!

    Inflation in the form of “demand pull” indicates a growing economy, and that could be construed as good…however, Krugman didn’t mention the inflation we face is “cost push” inflation, which has been driven by the devaluation of our currency.

    In the near future we will see Krugman trying to justify “a little inflation” as it approaches 25%!!

    Keep up the hard work of informing the Sleeple!

    • Greg

      SilverPhoenix2012,

      “cost push” inflation” True that! Thank you for making this point here.
      Greg

  6. George Too

    as half the population of tax payers are not paying any taxes, i do not think they care about or understand inflation…which in an election year is going to kill the productive part of america

  7. Paul

    Krugman is nothing but a counterfeiter and a thief.

    Accommodation, monetary easing and low interest rates are robbing the thrifty and frugal of their life savings. These victims are the very people that did all the heavy lifting until the carpet-baggers saw their opportunity. The weak housing, auto and retail markets are not the cause of economic woes, but rather the result of botched government policies. A pox on all their houses, I’d say.

    • Greg

      Paul,
      Amen brother!
      Greg

  8. xxxxx

    I’m not leaving your site. O hell the world is just warming up and people do what people do.
    What we got here is a bunch of people who can’t are won’t grow a potato. They sit around and watch dancing with the stars and wonder if the welfare check will be in the mail and the Bankers waiting for Q3.
    I’m still fighting with my family over, if 9/11 was a inside job.
    If 9/11 was a inside job nothing much matters when you talk about money matters. But what the hell bring it on, let’s get the draft fire back up. Let some women become Seals and drop them out over Iran
    The hardest thing in my 62 years of life has been not getting killed over some worthless lying banker war. Peace

    • Greg

      XXXX,
      Happy you will be around for more fireworks. In reality I think we are heading towards QE 4. “Operation Twist” I feel was QE3 but what do I know. No doubt, we are getting another round of money printing no matter what number. You definitely got that right man!!!!! Thank you for your comment and support!
      Greg

  9. Pieter

    Hi Greg,

    I can only find it amusing talking about Israel attacking Iran. Do you really believe Israel has the recources or the capabilty to do this succesfully. I always miss the iranian side of this all. I only hear always this argument that Iran wants to wipe Israel of the map. Now if
    we stay with statements just have a look what Israeli,s presidents have stated in the past, really shocking beyond believe. http://www.1lit.com/islam/israel-zionist-quotations.html

    Therefore let us be fair and look at both sides of this story. The most intresting story about Iran-Israel is that the neigbours of Iran have no problem at all with Iran and doing for centuries trading etc. I think most ppl have no idea how old Iran is, it has been there for thousands of years.

    This story about Iran just comes in the msm if they need to stirr up business. The present economic situation is so bad that a bankrupt nation like the US is now helping the other bankrupt continent Europe. At the end when all economics fail then our politicians will start more war.

    I working in central asia I can see what ppl in west just ignore to see, a booming and reviving economy which is starting to take back their place in the world. China, Russia, Iran, India and others are now bypassing the west system Swift etc and deal direct in own currencies or even gold/good bartering. This if of course bad news for our banksters as they can,t make money on this system.

    The only reason that the war with Iran is not there as it could be downfall for both US and Israel and they are aware of it too of course.

    I hope ppl start reading some more history as it did not start only after W2.

    regards,

    Pieter

    • Greg

      Pieter,
      I only reported on Israel calling up 6 battalions of reserve soldiers (and possibly 16 more). I also speculated that this may because they might attack as Netanyahu has repeatedly hinted. I think an attack from Israel and or the U.S. would be an unmitigated disaster and I have spelled out the consequences many times on this site. You are correct, the BRICS are in the process of bypassing the U.S. dollar and we have threatened them all with possible cut off from the SWIFT System. I think this is a far bigger threat to the U.S and the dollar’s reserve currency status. Thank you for your real world reporting from central Asia. I always appreciate your input.
      Greg

    • COOL COUNTRY

      Americans are systematically deprived of news about the Iranian people in Iran. They do not know the Iranians are friendly, decent and an OUTGOING people. The Iranians ALSO have a Space program and even a major National Super-Computer program. (Sound FAMILIAR?)

  10. Michael

    With regards to Iran, the Obama administration will execute military action inconjuction with Israel before the election. Obama will get twofer for this in that he be able to demonstrate his “support” for Israel and most importantly guarantee his relection. Americans will not vote against a sitting President at a time of war especially against the evil Iran. This scenario is “blinding glimpse” of the obvious.

    • Greg

      Michael,
      If that is the better of two choices then we are doomed. I hope you are wrong, but I fear you are correct.
      Greg

  11. Paul

    It’s not military action or war – Kinetic intervention is the Orwellian “new speak” term.

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