Weekly News Wrap-Up 6.29.12

By Greg Hunter’s USAWatchdog.com 

The Affordable Care Act, or Obama Care, has been upheld by the Supreme Court.  As I was watching the mainstream media on television yesterday, the left appeared absolutely giddy.  One of the so-called fact checkers said it would cost around a trillion dollars over the next 10 years.  Fact checkers?  The GAO (Government Accounting Office) came out in March of 2012 and said it would now cost at least $1.76 trillion and likely $2 trillion over the next ten years.

This comes at a time when the country’s debts have ballooned to around $16 trillion.  Shouldn’t we be looking for ways to cut an already bloated budget instead of increasing it?  Meanwhile, the House of Representatives voted to hold Attorney General Eric Holder in contempt for not turning over documents in the “Fast and Furious” gun running case.  Seventeen Democrats joined the Republican controlled House on the contempt vote.

This is a monster constitutional issue as the Legislative Branch is equal to the Executive Branch of the U.S. Government. New tougher sanctions are set to ratchet up in July against Iran because of its nuclear program.  In Syria, there are reports of British boots on the ground there and military assistance being given to the rebels by the U.S.  The trading loss of JP Morgan has now reportedly turned into a $9 billion loss.  The EU is still a gigantic mess, and they are no closer to solving the problems.  Now, there is talk of the European Central bank cutting rates to 0% or below.  In the end, the Eurozone is facing default of its biggest banks or massive money printing.  I’m going with money printing.  Greg Hunter analyzes these stories and more in the Weekly News Wrap-Up.

Comments
  1. art barnes

    Meanwhile, out here on the Western Front, the City of Stockton, CA is filing for bankruptcy, homeless are on every highway with signs for food, more small businesses close every day & homes are continuing being foreclosed upon, all the while the esteemed CNBC states we are in recovery. If so, we have the largest unemployment, lowest GDP, highest debt ever recorded, & the poorest wages (increases) in the history of any recovery; I think CNBC has redefined the word “recovery”.

    As to Iran, as your source so astutely outlined, Syria first, then Iran, and it won’t take that much longer as Syria is on the brink
    with bombs going off within a stones through of Assad’s Palace.

    Every week gets a little more discombobulated doesn’t it. Any dummy
    can foresee we are headed for some rough seas with a boat that is not that sound. Thanks for you blog, your work will be acknowledged as insightful sooner than most think. Thanks again.

    • Greg

      Thank you Art,
      I left that out, but it is an important signpost!!
      Greg

  2. Jim H

    Thanks Greg. Yes things are still moving along in the direction of Global Investor’s (Globalist) wishes. Not sure if the wishes of we the people have really meant much for some time. When a small group of people control most of the wealth, information, technology and resources it causes doubt in my mind as to the validity of any “facts” or “figures” coming from any “Experts”. Can they say we are in recovery when we aren’t, that all the puppet Leader’s we installed over the years are now evil or our medical system is one of the best! Yes they say these things but anyone who has lived abroad for 20 years will call BS on all of these. Still believe we will evolve in a good direction at some point and the world consciousness will shift toward people/planet before profit. Until then, Happy Friday!!!

    • Greg

      Thank you Jim H. Have a nice weekend!!
      Greg

  3. slingshot

    You say more informative news in fifteen minutes than most major news networks say in a hour. Without commericials I might add. Weekly News Wrap-Up getting longer.
    The smirk on J. Dimon’s face just grew as the news of 9 billion loss by JP Morgan loss hits the street. Eric Holder is in Congressional Contempt because of Five Democrates that were held hostage, by the NRA saturated districts, according to a Network Commentary Group. The President deals with, “This is not a Tax”, is reminisant of, “Read My Lips. NO NEW TAXES”, by George Bush Senior. Maybe, “I am not a Crook” is in the future. Betcha George Bush, the junior is saying, “How do you like me now?”. Truer words ever spoken by Nancy Pelosi, “We have to pass this bill to see what’s in it”. Guess we are going to find out the ramifications to the economics of the country. “The economy is doing fine”, remember that one. Least we forget our Vice President’s remark to President Obama of, “This is ****ing great” on a live microphone. Maybe better to be remembered by that passage, rather than, Potatoe-Potato.
    Really, if it was not all that serious , it would be comical.

    • Greg

      Thanks Sling for the support!
      Greg

  4. Slay Tryanny

    Did anything happen with Janet (butch) Reno during the Waco hearings? No, is anything going to happen with Eric ( Murrah Building in Oaklahoma city Liar)? No. Why do people not get it. The people in power of this country could care less about the people, or what the people have to say. You think voting is going to make a difference? I wish. The fact is it is not.

    There is no Political answer to this mess, Mitt romney? Obama? give me a freaking break! If God is back as the leader of this nation, then we can expect results, NOT UNTIL THEN! Believe in him or not, it doesnt matter, its his creation and he makes the rules! A Politician cannot be trusted ever Throw the bums out? Sure, and just how i ask, physically would be my guess. Be afraid? Afraid of what? They are nothing more than men and women, and i use the term lightly. You will lose everything you have, really, The only thing i cherish at this time of my life, is knowing that the evil scumbags are destroyed, so that my grandchildren can live free as i have for 52 years. Get your houses in order! The time for talk is over. There is no try, only do! Thanks Greg, keep on keeping on! Your friend, Paul.

    • Greg

      Thanks and Jeff for the comments.
      Greg

  5. Jeff C

    Thanks Greg – Another realistic summary of what’s truly important and what “should be” in the news.

  6. George Too

    Great weekly news wrap up! not much sand left in the hour glass

  7. Pierrrot

    You have a car… You pay for an insurance in case of !

    You have a life… You pay for an insurance in case of !

    It’s as simple as that !

    Your country has been at war for just about 90% of it’s existance since 1778. Cut there !!!

    • joe

      Apples and oranges…Pierrot…apples and oranges. One is a privilege tax for something you own and drive on public roads, one is a tax just for being born. What’s next, taxing air or taxing the ability to watch a sunset? Allowing the government to penalize (tax) a person for NOT doing something is ludicrous. Next obama will be taxing people for not eating broccoli or following muchelle’s diets (while she and her husband eats ribs and fries).

      Can’t wait to vote against these wackos!

      • Pierrot

        No insurance…
        You get hurt…
        You go to hospital…
        They take care of you (by law)…
        Everybody else pays for you (by law)…

        THAT is socialism !!!

  8. Diane Carol Mark

    Hey Greg,
    Kindly turn up the volume when recording. The volume is coming across so low that the only way I can hear you well is to use headphones.

    Thanks, man!
    :) Diane

  9. Don

    Greg Howdy! :)

    I’m still reading/viewing your reports, they’ve been Great!

    I’m sure you & others have seen there has recently been an overload of critical info being released.

    There are plenty of people concerned about these pressing issues that you & others raise & most/many of us are searching for any little way we can to join forces or stand alone & revolt against these Anti-American/Anti-Human policies of Wallst/London/DC banking/political trash.

    (The most recent was yesterday’s SCOTUS upholding a clearly illegal mandatory healthcare law.)

    Any good luck & here a few links I liked viewing today.

    Cya, Don

    The Truth Behind Pensions with Carl Herman

    http://www.prisonplanet.com/the-truth-behind-pensions-with-carl-herman.html

    The USSC upheld Obamacare by, basically, twisting the Constitution into a pretzel, crapping on it, whizzing on that and then eating it.

    http://market-ticker.org/akcs-www?post=207908

    FRYING DUTCHMAN – ‘humanERROR”
    Posted on June 29, 2012 by stacyherbert| 20 Comments
    Stacy Summary: Found this via Sean Lennon. Love it. Look at what the terminally insane have done to us.

    http://maxkeiser.com/2012/06/29/frying-dutchman-humanerror/

    • Greg

      Thank you Don for the comment and for adding content!
      Greg

  10. Paul

    Greg –
    As your northern neighbor (Canadian) my experience with socialized (i.e., taxed) healthcare shows it’s a very bad idea. We have here a bureaucratic single-payer monopoly on health care with no interlopers allowed. Availability of care is poor – obviously rationing is at work. Costs are horrendous and spiraling out of control – eating up 40% of government budgets.

    I’d say that Obamacare is really just another war – a war on illness.
    And the track record on most of America’s wars isn’t exactly stellar. Wars on terror, drugs, homelessness, poverty, hunger and no child left behind have all been an abject and expensive failure. We need to understand that bureaucracies are not created to solve problems, but rather to exacerbate them to ensure their own survival.

    • Mitch Bupp

      Hi Paul, If you look at what happens in a marketplace when government money enters it in a big way? The corporations know how to milk the proverbial cow!

  11. ONTIME

    Methinks the delerium be exhibited by the leftist,is a fools folly.

    The largest tax increase in history, anywhere, all on one party’s shoulders, the Republican majority in the house awaiting the TAX bill to reconsider it’s fate. Compounded by the hobbling of the chief obstructionist Eric the racist Holder, being held in contempt, facing civil court on criminal charges of what might be treason, murder, obstruction of a congressional investigation…All of this in a election year full of ire from the right, who now will have might on it’s side…..I believe the Deemers need to come to Jesus.

  12. Carax

    Not impressed with Obamacare but neither am I impressed with the American health care system as it stands now. If you happen to have a great job with a great insurance plan when you have to have that big operation, the system’s great, if you have no job or a useless insurance plan or none at all because you can’t afford one, you lose your home, if you have one, to pay for it, or you die in a ditch. America is a joke. Left, Right, both the same scam, two branches of a one party system where only the political class and the rest of the elite get all the benefits while they talk about “democracy”.

  13. Marcel

    The U.S. is being destroyed economically by design by the globalist enemy within who have long ago taken over the nation.
    How else do you think a nobody,staple banger became president ?

    http://www.homelandsecurityus.com/archives/6231

  14. Edward Ulysses Cate

    From “Whatever Happened To Raoul Wallenberg” by Morris Wolff
    Page 262:
    “I [E. J. Kessler, journalist] have uncovered some information in the Reagan Library in California about Roberts’s unusual involvement in the Wallenberg case and his role in the possible cover up. . . . It is a story of scandal and misbehavior by our own government in your [Wolff’s] Wallenberg case.”
    Page 263:
    “. . . much more than just poor judgement . . . It goes to the very character of the man. It shows him to be indecisive and devious. He lacks guts. He failed to do his duty — and that was to advise his President to follow the law. As Assistant White House Counsel he had no choice.”
    Page 266:
    “The [Roberts] hearings without my [Wolff’s] testimony were tepid, boring, non-controversial, rigged and banal. Roberts rode smoothly through a cream puff hearing with no one asking any of the tough questions. He was handled with kid gloves. The questions were removed in advance and not invited to testify.”
    Geez, and now Roberts is in the Chief Justice chair, making horrendous decisions affecting our future. We were sold out a long time ago, even back to Reagan’s days.

  15. Russ

    Whew, what a week. Good job keeping up on it Greg. Thanks for the wrap up.

    • Greg

      Thank you Russ and the weeks will not get any easier from here on in.
      Greg

  16. ncdirtdigger

    Thanks for your terrific reporting Greg.

    • Greg

      Thank you NC for supporting this site!
      Greg

  17. Mitch Bupp

    Our leaders have been conditioned by the idea that government money is the answer to everything. If they don’t, the FED doesn’t make money or policy …

    both parties are in “contempt” of the American people; without holding previous administrations account to the law this has become as systemic issue without accountability?

    GAAP and real accounting will expose the ponzi as the house of cards it is! It will never happen until they want to pull the plug!

    Iran/Syria the last two dominoes to fall under the plan General Wesley Clark talked about… it is damning evidence.

  18. Steve

    How do you say HELP, loud enough??

    I don’t care for Donald Trump, here is what he had to say:

    Let me get this straight. We’re going to be “gifted” with a health care plan we are forced to purchase and fined if we don’t, which purportedly covers at least 10 million more people, without adding a single new doctor, but provides for 16,000 new IRS agents, written by a committee whose chairman says he doesn’t understand it, passed by a Congress that didn’t read it, but exempted themselves from it, and signed by a Dumbo president who smokes, with funding administered by a treasury chief who didn’t pay his taxes, for which we’ll be taxed for four years before any benefits take effect, by a government which has already bankrupted Social Security and Medicare, all to be overseen by a Surgeon General who is obese, and financed by a country that’s broke.

    What the hell could possibly go wrong?”

    • Greg

      Good stuff Steve. Trump is not a billionaire because he’s dumb.
      Greg

  19. niphtrique

    Curiously many countries spend 9% of GDP on health care while the US spends 15%. So it seems better to copy a foreign system completely. But that will not happen because the US political system is corrupt and far more corrupt in most democracies except for countries like Greece probably.

  20. Meatdawg

    Eric Holder should be arrested and thrown in jail for “Fast and Furious”. F&F is not a distraction, it is a major crime that goes all the way to the top. F&F is a diabolical plot to destroy our second amendment by killing hundreds (thousands?) of Mexicans and who knows how many American and Mexican law enforcement officers so they can blame legitimate gun dealers. The Obama regime never intended to monitor the thousands of arms that crossed the border. Yes, I agree our debt is a bigger deal, especially if we lose the dollar as the world’s reserve currency, but that is intentional as well. Obama is using the Alinsky method to destroy this country’s economy and drive us into third-world globalist/Marxist serfdom. Obama hates this country and is doing everything he can do to destroy it at the behest of his Gobalist Masters!

    • Greg

      Meatdawg,
      Maybe he should be but he won’t. Congress will get the docs right after the November election.
      Greg

      • Meatdawg

        Thanks for the reply Greg, you’re a standup guy for allowing a truly open website that allows for a diversity of opinion and a free-flowing stream of ideas and opinion. The fact that you take the time to respond to your readers speaks volumes about your sincerity and dedication to truth. Call me a cynic but I think the Holder hearing was largely Kabuki. The Republican CON-gress has no intention of seriously prosecuting Holder or Obama on the Fast & Furious issue, if any more documents are forthcoming they’ll be virtually useless. One hand washes the other in Washington DeCeit as far as corruption goes and both parties have to make the appearance of pursuing “justice”. Thanks.

        • Greg

          Meatdawg,
          You said more in one paragraph than I say in an entire post. Bravo, you are spot on!!
          Greg

  21. Elizabeth Hanson

    Hi Greg and Friends—

    I’ve been studying about this new trade agreement “TPP”– They say it’s NAFTA on steroids. It will allow banks to remain deregulated and invest beyond any laws when they go to foreign countries. It allows Pharmaceuticals to have stronger monopolies and increase prices. It allows foreign corporations not follow our laws if they come here. Greg… could you please look into this. It’s very frightening. http://www.citizen.org/documents/release-controversial-trade-pact-text-leaked-06-13.pdf
    Elizabeth

    • Greg

      Elizabeth,
      This sounds terrible. Thank you for posting it here.
      Greg

  22. Elizabeth Hanson

    To me, it seems like solutions include public banking, local economies and succession. I will probably move to the first state that secedes. I don’t like what’s happening; this corporate fascism is not for me.

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