WNW 193-Greek Debt Crisis Conclusion, Economic Propaganda, Iraq Finger Pointing
Greg Hunter’s USAWatchdog.com (6.5.15)
The Greek debt crisis looks like it will be coming to an end. I don’t know if it is this month, but it is definitely this year. Everybody is worried about a Greece default, but a default has really already happened. If you have to loan a country money to pay its debts, isn’t that a default. The bankers have piled the debt on Greece, and it can never be paid. Greece says it cannot make its 300 million euro payment to the IMF (International Monetary Fund) and wants to bundle the debt and put off the payment until the end of the month. I think the Greeks are going to get that last 7 billion euro loan package, and it will officially default this fall. They say a Greek default is priced into the markets, but the folks I talk to say when the default is officially realized, it will cause big financial problems. Maybe this is why, a few weeks ago, Bank of America said the markets were in the “Twilight Zone,” and it was time to hold “higher levels of cash and gold.” My friend Gregory Mannarino of TradersChoice.net says the bond market is signaling big trouble coming. That is why the 10-year Treasury rate has shot up above 2.3% in the last few months. Mannarino told me that the stock market has topped, and the bond market is the place to continue to watch. When the bond market gets out of control, the economy will tank, and the Fed will not be able to stop it. Mannarino will be on next week.
The economic propaganda seems to continue at an unrelenting pace. Just last week, there was a .7% contraction in the first quarter GDP, and this week, the main stream media (MSM) was back at it with this headline that says “Economy picking up steam.” The day before, the same newspaper ran a headline that said “Stingy Spenders Hold back Growth.” Which is it? Are we growing or contracting? I think the economy is clearly contracting, and the MSM continues to lie to try to make things look better than reality. Oh, and by the way, if you think the recent car sales numbers are a sign of good health—think again. The latest vehicle sales numbers, which are the highest in 10 years, were only possible through record amounts of credit and record amounts of months of payments. Some car loans last as long as 84 months. The average is 67 months. By the way, folks are going to have a lot less money to spend on car payments because health care providers across America have announced rate increases of as much as 40% are coming because of Obama Care. It was supposed to be cheaper—that is one of the many lies by Democrats to get this economy killing train wreck passed.
Here is some more MSM propaganda. The headline reads “NSA Data Collection Ended.” While that is true that the USA Freedom Act has ended so-called meta-data collection, the spying has not. The NSA can now legally record your calls and use the information. It just cannot keep the meta-data; so, the headline is misleading. It is a step in the right direction, but a very small one. You still have the secret courts and spying on all Americans. This new law just made what was illegal and unconstitutional legal. The writer of the old Patriot Act, Jim Sensenbrenner, said the law he wrote never authorized mass data collection on all Americans, and of course, federal courts ruled what the NSA was doing was illegal. Looks like whistle blower Edward Snowden was spot on when he revealed this program. Maybe they should drop the charges and allow him to come home. Maybe they should stop spying on us and worry about hackers breaking into the IRS and the Federal government and stealing data on millions of people. Both things happened just this week.
The strategy of the Obama Administration to defeat ISIS in Iraq is failing miserably. There is a lot of finger pointing going around, and not much is going to change with the policy. Here in America, news of ISIS fighters is increasing, and that, too, looks like another Obama Administration failure in the making. Heaven help us all if it fails as bad as the strategy in Iraq.
Join Greg Hunter as he talks about these stories and more in the Weekly News Wrap-Up.
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About the Author
Greg Hunter
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.
Have No Fear— God Almighty Is With You!
MORE than 50 years ago, shortly after the first nuclear bombs exploded, Nobel Prize-winning scientist Harold C. Urey said of the future: “We will eat fear, sleep fear, live in fear and die in fear.” Today, our world is, indeed, glutted with fear, and no wonder! On a daily basis, newspapers herald forth horrifying accounts of terrorism, violent crimes, and mysterious illnesses.
As Christians, we know what such conditions mean. They indicate that we are living in “the last days” of this wicked system, which the Bible foretold would be characterized by “critical times hard to deal with.” (2 Timothy 3:1) Our confidence is thus strengthened that the true God will soon bring about a new world in which righteousness will dwell. (2 Peter 3:13) In the meantime though, try to fear not and pray fore rain in California, so the grapes can grow and they can make more wine.
And I heard a voice in the middle of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see you hurt not the oil and the wine.
A measure. ‘The word choenix signifieth a measure containing one wine-quart and the twelfth part of a quart.’
◄ Revelation 6: 5-6►
http://biblehub.com/revelation/6-6.htm
Many commentators consider oil and wine to be luxury items, but this is false. In ancient times, olive oil and wine were staples of the Mediterranean diet along with grain, as Deuteronomy 7:13 and 11:14 indicate (see also II Chronicles 31:5; 32:28; Nehemiah 5:11; Hosea 2:8, 22; Joel 1:10; Haggai 1:11). A person, though, cannot live on oil and wine as he can on grain, yet, as science is just now discovering, they do provide additional and necessary nutrition. These items are available during the third horseman’s rampage, but the average man will not have the means to purchase them, since all his money is being spent on flour for bread!
Apparently the powers that be will be crying not to hurt the olive oil and the wine because things will be so tight even for them, so don’t stop the finer things on account of the wretched masses!
http://www.bibletools.org/index.cfm/fuseaction/Topical.show/RTD/CGG/ID/3335/Do-not-harm-oil-and-wine.htm
Revelation 6:6 (CEV) | In Context | Whole Chapter
6 I heard what sounded like a voice from somewhere among the four living creatures. It said, “A quart of wheat will cost you a whole day’s wages! Three quarts of barley will cost you a day’s wages too. But don’t ruin the olive oil or the wine.”
So continue to pray for rain in California, olive’s come from there too, I thunk?
Thanks Gertie, I also visit Gregs website, and find the comments like these encouraging and show, on your part a settled faith. Isa. 32:17 say’s and the work of righteousness shall be peace and the effects of righteousness quietness and assurance forever. Gregs site is one of the few I visit. Thanks for what you do Greg both in commentary and faith encouragement.
Your on track with car loans – this is where they are pushing the money.
Doesn’t matter that these people can’t pay the loans.
Same story as the housing problem back in 2008.
Car houses what next.
I got it Mars.
Just think how much they can loan out with Mars investments.
One thing you missed – the trade deficit was at it’s lowest level.
http://www.marketwatch.com/story/us-trade-deficit-shrinks-to-lowest-level-since-2009-2015-04-02
Hmm – doesn’t that mean imports are down?
If we are importing less then we are spending less?
Can’t be we are exporting more.
Strong dollar means less exports – weak dollar means more exports.
And for reasons beyond the realm of the twilight zone we have a strong dollar.
So then people are spending less as that’s the only way we could have a lower trade deficit.
But of course the people at these news services never went to school and really can’t seem to put 2 and 2 together.
Greg
Great WNW
Hi Greg
About that ruling: Small step in the right direction resulted a big step in the wrong direction, namely the “Freedom act”.
For average American whatever whatever Obama is doing is a failure, at least seems like that. But what if Obama is doing his masters biding?
My 2 cents
Oracle 911
Wow Greg… at about 12 mins you were saying how they spy on ALL Americans but ignore the IRS hacking, FED employee hacking, etc. That is an all telling point you made there Greg. Especially when you pointed out how the Russians tipped us off about the Boston bombers but they did nothing. My Gosh, I HATE incompetence. To think Putin was trying to help us…. It reminds me of Jerry McQuire… “help me, help you” quote. I mean WTH. Just 20 years ago I used to respect our intel for keeping us safe….oh how it has de-evolved… that they have reached the point of actually making us less safe than if they weren’t even involved (with some exceptions of course as there still are a few good ppl in there.) Nevertheless……. It is insanity. Great work Greg.
@RichM : My input on this spying and hacking is its just a disguise for predictive modeling which explains why they missed the Boston bombers even after warned by Russia.
Catching terrorist is just the marketing buzz words required in order to sell all of this spying to the public.
These computer models have been in use for 25 to 30 years and would be amazed if all large governments of the world are not using these for economic predictive modeling. However, they need the ability to setup wide spread dragnets in order to collect all the information required for them to be accurate.
Wes,
Maybe they didn’t miss, I mean the Ruska’s did warn us about those two goof-balls! Could you imagine if we could get along with our supposed enema’s? Shades of Ronald Reagan, now that would be novel! How bout if we just showed some respect instead of ridicule? Shades of Knut Rockne! Where’s the Gipper when ya need him?
http://www.google.com/url?sa=t&source=web&cd=1&ved=0CAwQqQIwAA&url=http%3A%2F%2Fwww.bbc.co.uk%2Fnews%2Fworld-europe-33009034&ei=RVFxVb_FDMn1oASWsYPoAg&usg=AFQjCNGBDx_oy3VeLgEa-95llJqQiP7HLg
They are smiling. Things are great. Don’t worry. Conversation goes like this: How much can we get from the ECB and how far can we kick the can?
By the way, thank you Greg for everything you do. Your great devotion for telling the truth. I always pay my debts, it’s time to pay up.
How do I donate to your site?
Thank you in advance for your support Brian. We have PayPal or snail mail, here’s the donations link: https://usawatchdog.com/donations/
Greg
Adding to Greg’s auto loan stats;
Nearly $1 trillion in auto loans
Average credit score 552
13% of auto loans have NO FICO score!
With car loans, higher rents, higher insurance premiums, rising gas and food prices, they expect the consumer to spend more in the second half and “drive economic growth”?
Wont happen- the comsumer is tapped out and set to begin another cycle of defaults
Ok, how can you get an auto loan with no credit score, I can’t get a loan without a credit score, I can’t get a mortgage loan without a credit score. What’s wrong with this picture? Am I the wrong color, have the wrong last name, make too much money?? I have no police record and I pay my taxes every year, and I pay my bills on time, so WHY CANT I GET A LOAN WITH NO CREDIT SCORE?? Sorry for shouting but that just pisses me off!!!
While mortgage lending is tight auto lending is loose as can be. You CAN get a car loan though from some companies with no credit score!
Add to the consumer debt burden:
$1.3 in student loans;
$889 billion in credit card debt;and nearly $500 billion in stock margin margin debt and they expect the consumer to spend MORE?
Brother Smaul, you can also throw another $350 million in housing boom HELOC loans getting ready to go into the 10-ye. fully amortized phase, meaning the payment will balloon. Keep up the good work. Thank you for your valuable analysis. Best always. PM
Paul
Indeed toss Helocs on to the pile of debt.
Here in my “Bankruptcy in America” piece I break down the 30pct increase in consumer debt since 2009. It stands at $3.3 Trillion
https://smaulgld.com/bankruptcy-in-america/
Greg: Another awesomely truthful WNW.
Here’s what I think may be a checklist for our mind- boggling problems created by Them:
– A very probable bond collapse looms which would be disastrous at best..
– A major stock market correction/ crash also imminent.
– Greece may default soon triggering possible domino effect beyond the EU.
– U.S. Dollar as world reserve currency in serious jeopardy( would mean death of dollar and a serious lowering in U.S. Standard of living, right?
– Globally coordinated QE central banking nightmare.
– TPP about to kill off what’s left of our domestic manufacturing.
– Our national debt is in the multi- trillions and counting.
– The multi- trillion derivative time bomb may blow up( and U.S. tax slaves areon the hook for them).
– Jade Helm in ten states beginning soon.
– U.S. stoking possible hot wars in ME, China, Ukraine. . ?
– All this plus no real jobs, huge household/ debt, no recovery for the working people. No future for our debt- laden grads.
Did I miss anything?
All of this is dovetailing now. . As you say: ” it’s too stupid to be stupid, right?
This is beyond the realms of science fiction!
Pray & prep I guess. . .
Appreciate you ( and those fellow very smart dogs on here woof!),
DD xx
Dolly –
That’s nationally. Now factor in the global macro financial/economic nightmare!
Venezuela in hyperinflation with a failed currency and being backed up by a loan from China.
Argentina using the USD since the local currency is now considered worthless.
Brazil suffering not only a weak currency, but also a drought just as bad as California’s.
Australia and Canada with massive housing bubbles that are beginning to pop.
China with a huge stock market bubble, to go along with their huge real estate bubble.
A Greek debt default and imminent banking failure, taking down CDO derivatives.
European currency crisis threatening the Euro Zone stability.
A bi-polar world developing, as Eurasia squares off against the west.
Add in a little environmental disaster, such as droughts, floods, earthquakes, etc.
Mix in a pinch of macro/political military action – Ukraine, Syria, Yemen, etc.
And last but not least, – a new war! On cash itself! Line up for your injected chip.
What ever happened to common sense?
Seriously folks.
18 plus trillion and counting?
Ability to continue printing to soon become very difficult.
The free lunch is over.
It is time to bring back HONESTY to our system.
YES it will get ugly as people realize that production is what creates the ability to support ourselves.
This state of denial must end.
Mike, you know what happened to common sense. The government told the masses they could have their cake and eat it, too. The masses both wanted to hear and believe this BS, so they continued to vote for the politicians who put it out. And the politicians rewarded them. It’s called vote-buying and self-enrichment on the part of the politicians. Another word for it is “corruption”. And all of us lose in the end. Best always. PM
Amen Dude, Amen
PS: Just realised forgot to add to the list that the biggest ( zombie) banks are insanely over-leveraged/ insolvent and those bail- ins are still on the menu!
Why do I have this ill feeling in my gut that somehow Americans will be fleeced to keep Greece living beyond their means. DC is a puppet of evil globalists. When was the last time DC did anything in America’s best interest? That is not a rhetorical question? When?
Diane … I couldn’t help but note the ‘ poor us ‘ connotation with the word fleeced. If the US of A offers up billions to the Greeks, you know 2 things for sure … 1. There will big strings attached ( read strategic or cronycorpapitalism ) and 2. They will abuse their global reserve currency privilege to just print the money out of thin air.
Not buying the US as victims meme, sorry.
CrazyCanuck When the Fed prints we Americans suffer. Under the new laws all Americans are liable for the currency the fed prints. All the way down to retirement plans.
Sorry, bud; I can’t let that one pass. The lady is expressing her hyperfrustration at the fact that sensible Americans realize that we have lost control of what is supposed to be government by the people. This happened because of the very political corruption and abuse she is decrying. This isn’t a “victim” site; cut her some slack. PM
Greg,
Another top notch wrap up after a stellar week of great work.
Have a nice weekend.
Thank you for your support!
Greg
Interesting … Bank of America says to hold more gold … and Russia announces it will increase its gold reserves by nearly 40% … and the price of gold immediately falls??
I guess we have to wait for Bank of America to say sell your gold … and for Russia to say they will be decreasing their gold reserves by 40% … for the price of gold to rise!!
Looking at the gold chart … http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&b=5&g=0&id=p06879310564 … perhaps (as hope springs eternal) the Bank of America and Russian gold news will provide us a bottom from which gold could advance to the $1450 level? … but the reality is … it’s that time of year again (sell in May and go away) … so we may be in for more back and forth bottoming … until August-September!
Hi Greg,
It is amazing that the MSM keeps parroting how great things are when all you have to do is open your eyes when you are out and about to see what is really going on. There are so many things going on “quietly” that you do not hear reported on the MSM that signal bad times ahead, much of which you alluded to in you WNW.
The MSM was so quick to point out falling gas prices a couple of month ago, but where have they been on the recent increase? All I hear is crickets. Here in Reno, NV, regular unleaded got to a low of about $2.39, now it is back up to $3.19, yet there is no mention anywhere of the 33%.
As carnage starts to ensue in the bond and treasury market, mortgage rates on a 30 year fixed have been quietly going up over .25% in the past couple of month. That translates to roughly a $50 per month increase in payment on a $250,000 mortgage. No mention of that either.
Everyone who took HELOC’s during the height of the boom 10 years ago are now starting to see their payments reset as well. Most HELOC’s have a 10 year draw period where the payment is roughly interest only. After the draw period, they convert to a 20 year fixed where the payment will close to triple if you have only made those interest only payments. That will create a problem akin to all of the 3/1, 5/1, and 7/1 ARM’s that reset around 2008-10 causing the last mass foreclosure wave.
Realtors in this area are pushing the bigger is better mantra yet again. My neighbor just sold his house that he bought in 2011 (at $218,000) for $335,000. He is having a house built where his base price is $400,000 before options and it is only about ~300 square feet bigger. Even though he is putting over $100,000 down on his new property, he will still be financing over 50% more than he had before. Add in higher property taxes, higher HOA fees (gated community he is moving to), and higher insurance and his payment will most likely be at least 50%-60% more. I tried having this conversation with him and his thought process is, “If it crashes, I would rather lose equity in the house I really want.” I hope that he and his wife have been getting good raises at work to account for higher bills.
I am in the inflatable sporting goods (balls and such) industry. Our FY2016 started in April. If the economy was doing so great, why am I seeing a 17% YOY sales decline after only two months? Due to their low cost and intrinsic health benefits, sporting goods are generally one of the last items that people cut from their budget. During the last downturn, we only saw a 5% YOY decline (2009) for one year and were flat for the others (2010-11). Compared to last year, I am running with 2 fewer employees and giving our hardly any overtime. Last year by now, my crew was 2 people larger and they were all working 50 to 60 hours a week.
Everything that I see leads me to believe that this will not end well and the process of it ending has already begun. Keep up the great work.
Tom
Thank you Tom!
Greg
Tom –
Thanks for the view from Reno, Nevada. You’ve got balls being in the retail sector…
Sam
Greg – thank-you for your work. You look tired so rest up this weekend. We need you to be fully fit to continue your stunning interviews and focus on economic and geopolitical issues
Greg,
Good wrap up of the weekly events. Your description of the Greece debt canary was hilarious – LOL! You should’ve worn a pirates hat and a patch over your eye. Anyway, nothing surprises me anymore and after 6 1/2 years I can truthfully say the Obama Administration is the worst of our lifetimes if not on record! What a legacy he’ll have…..
Greg,
Love the Canary that is dead and then stuffed to pretend to be real. I just get a kick out of your NWN reports. I look forward to your take on them.
I need help out there. I am a nube or is it newbe whatever, I don’t understand the bond market. I have heard Greg Mannerino talk about watch the bond market. To me it is like saying, “Now watch for a signal at the intersection. ” Doesn’t say it will turn red, yellow or green. I don’t’ get it. I hear all these terms, such as naked shorts, puts, etc. Holly Weight Watchers I am an art educator and don’t understand. I’m sure it is a plain as the nose on my face, but someone explain. Please!!!
Southern Girl,
I know you have heard that when interest rates go up bond prices go down and vise versa. If you buy a bond that pays 5%, and rates go down to say 4%, that means you locked in a rate that is no longer offered. So, if you paid, let’s say $100 for that bond, you can sell that bond at a premium. Let’s say you can sell that bond with a locked in rate for $110 instead of the $100 you paid for it. The world has had a nirvana of declining rates sine the early 1980’s. Got it? Now, rates are at bottom and have nowhere to go but up. So, if you buy a 5% bond today (for $100) and rates go up to 6%, you either have to hold that bond to maturity (and take your chances with inflation) or sell it. Instead of getting your original $100 price, you would have to discount that ($100 5%) bond. The only way you could sell a 5% bond when bonds are paying 6% is to discount it. So, instead of getting your principal back, you would only get (let’s say) $90 for the bond you paid $100 for. Imagine banks stuffed full of low interest rate bonds that are used as bank reserves or collateral. When interest rates go up the value of all that collateral that is in the hundreds of trillions of dollars loses value. Are you with me? Then, imagine a world where banks are leveraged 50 to 1. You do not have to have a large move in interest rates to wipe out a banks collateral relative to the enormous leverage. This means banks can go bankrupt in a hurry in a rising rate environment. This is why the powers have been surprising interest rates for so long, and that party is about to be over. I have tried to make this really simple, and I have not even discussed the outrageous derivative positions around the world. I hope I have helped you understand. By the way, this sort of scenario has never happened on a global basis in all of recorded history.
Greg
Ok Greg,
Thank you!! I get it now. Esepecially if bonds are used as collateral like that.
I never saw that angle before. Bonds as collateral. Now I see why they have to keep interest rates down!! It is pure desperation!!
Thank you for that explanation Greg!!
Bonds are the foundation of a capitalist economy, much more so than even stocks, but, as Greg’s excellent analysis shows, they are designed for a “stable money” (non fiat) environment. I’m 62 and can’t recall a “stable money” environment for the past 50 years. Best always. PM
WD
This is how your money will disappear when the bond market explodes this year.
http://www.economicpolicyjournal.com/2014/11/warning-bank-deposits-will-soon-no.html
The next G20 meeting is 11/15/15. I have already posted the letter to the G20 by the Financial Security Board entitled “Post Crisis Agenda Moving Forward”.
CHECKMATE!
Need another chart to see where we are in the financial hyper hole? How about this one?
https://ycharts.com/indicators/us_misery_index
If you can’t see it now, there’s no sense in posting anything else. Back to my make shift water reservoir project. Time is short.
Paul & Jerry… I thank you both!!
J,
It looks like misery index is going down?!
Paul & Jerry…
Wow, I always saw stocks as the foundation of the economy. Incredible!! Now I see why we are in so much trouble!!
I see why small moves will devestate this foundation!!
Jerry, the bail-in is real and on the books. It’s just a matter of “when” not “if”. This is a clever strategem regarding deposits, clearly designed to cover confiscation with the cloak of normalcy and acceptability. You have been at the vanguard of exposing the deception of the financial establishment from the get-go. Many thanks and best always. PM
P.S. Notice there is no talk of appreciation, merely the dings to be taken with “fluctuation” meaning “depreciation”. And so it begins. PM
Greg,
Thanks so much for answering my question. I really needed the simple explanation.
SG,
Great because I was hoping I would not mess it up and write something to help you understand. I had the hardest time understanding the bond market.
Greg
Great explanation Greg. Thanks. You do look tired. Hope you get a good rest this weekend.
S. Girl …
Casey says the bond market is Red right now…
https://us-mg5.mail.yahoo.com/neo/b/message?sMid=3&fid=Inbox&sort=date&order=down&startMid=0&filterBy=&.rand=1372081538&midIndex=3&mid=2_0_0_1_3256629_AGJUimIAACOQVXHnugsQCL2wBtw&fromId=
S. Girl … if you have a problem opening the above site try this one … https://www.caseyresearch.com/articles/bond-markets-are-cracking
Greg- Thanks for all you do! It is certainly your calling and ministry. Quick question. I am selling my home. My wife & kids want an upgrade. Should I rent or buy given the dire circumstances we face?
David H,
I don’t really have enough information to give you a good answer. I don’t know where you live or if you have the house you currently own paid for, your finances, job stability, savings or debt situation. In general, I would not go on the hook for more debt, and I would try to own everything I have clear title. The banks are going to be looking for collateral when this bond situation blows, and collateral will, no doubt, be physical and not anything paper. This is why you want clear title to everything. If you miss a payment, the banks will come and take everything not nailed down. I hope this helps you.
Greg
Wow! Another angle I didn’t see coming. As this onion peels away I see this wretched horizon out there.
Thank you again!
It will be over soon I suspect.
The constant paper scam is nearly run it’s course.
The world is building a physical only competitive trading system that will soon out weight this paper scam and the market will establish a new supply/demand price fix.
The power of velocity is about to take over the direction we head on PM pricing.
The principle of “it works until it does not work anymore” is beginning to show.
This week’s take down of PM prices had to be expected with news we have seen recently.
Likely short lived but I fully expect further downward effort.
The point I make is that with the recent change and transfer of a significant portion of the physical trading gone to the east, it must be getting very very difficult to play this juggling act.
PHYSICAL east supplies will soon negate the Western paper shuffle one would think.
The stretched elastic band must be nearing the snapping point.
The party is indeed over and hangover is about to set in.
Greg,
Nice wrap up.
Agree that our intelligence apparatus is clearly not working FOR America but is working AGAINST America and for global [domination] interests. Has been this way since at least WWII I’m afraid; some would argue since before WWI. Methinks they have largely created ISIS and other domestic terror events to justify expanding fascist control(s) – all with by funding by the American military/police state (under DOD program 1033 (http://en.wikipedia.org/wiki/1033_program) – by the Amerikan taxpayer. Ahh to be king(s)..
On the economy – we ARE in fact picking up steam!! Unfortunately, only AFTER the plane has turned downward..
The pilots have informed us that they have some bad news and some good news.. The bad news is that we have no idea where we are going, and that we may in fact may be headed downward. But fear not – the good news is that we are making excellent time !!
That’s a wrap up Greg. I have a friend 63yrs age. He works part time for UPS. He said he only works there for the insurance. The younger (other) part timers are there 3 weeks @ min wage and walk of the job. I feel this is the normal in the job work force. Those working are excepting lower wages for the skill they do just to have insurance. Your predictions are coming true yet it is hard to pat one on the back when there kids are going hungry. Love you and your site.
Thank you J.C. I wish I was wrong but to be forewarned is to be forearmed. It blows this year.
Greg
Ok, I have to say it, politically incorrect it may be, but that cartoon at the top of the page is FUNNY! Sad, but true….
A comment about Obamacare. Over here, in Japan, we have nationalized health care. My mother, an American nurse, worked over here in hospitals for 25 years. She thought the system crazy. (Ironically, a few years back Japan’s health care system was voted best in the world0- probably by people with an agende as opposed to people who knew the system like my mother). I avoid hospitals like the plague. The few times I have gone to hospitals over here, the doctors usually recommend furhter tests and even operations. I always choose option #3- the exit- and I am healthy- so their tests and operations were not necessary. So how much of the medical profession is just rolling along, not on medical needs, but on financial needs, docs need money, so they recommend unnecessary procedures. There is a joke among the Japanese over here about thier own medical system- it goes like this. Older folks regularly go to clinics almost on a daily basis. So one day this old group has gathered at the clinic for their medical tests- all except Mr. Sasaki. Somebody asks, “Where is Mr Sasaki?” Another replies, “He couldn’t come today, he is sick.”
When the world sees the truth behind the Japanese econom I wonder what the yen/dollar rate will be.
Fan,
Thank you for the street reporting from Japan.
Greg
Your Mr. Sasaki joke would be funnier if it wasn’t the truth!
Greg;
Excellent Report
Greg,
I hate to sound like a broken record, but all is not doom and gloom. This country is and always has been blessed by God because it was the first nation on earth to foster the nurturing assertion of equality in all things both in actual practice and before the law. First, it was the erasure of royalty as a dividing line between us during the revolution in 1776. Next it was the eradication of racial superiority in the years 1861 to 1865. Today, we finally are erasing the dividing lines around sexual orientation. The US is the only nation where the individual can be whatever the individual wants to be. The course we are on begs celebration and overdue optimism for the future. Today, homosexuals can stand with us as Americans. Today, transexuals can enjoy the comforts of freedom and liberty. When we look back 50 or 100 years from now, we will see the turning point of our greatness truly coming into fruition. Together, we are all changing the world. In 2016, we will look to new leadership to carry the baton. I wont say who I am voting for because I realize that you want to vote for someone else, but the polls already sho who is ahead and who I believe will change the world for the better. God Bless the USA !
REPROBATE Gina.
http://www.merriam-webster.com/dictionary/reprobate
Gina,
You male troll. I thought (hoped) we had heard the last from you. Your agenda seems to be not of God, at least OUR God. You have the agenda of the elites- Agenda 21. Gee! Let’s think about this. We are a nation that was dedicated to God. Then you sight all this mumbo gumbo about being freed from our royals of England. You seem to have forgotten your history. What about in the 1960’s with the fake war in Vietnam that claimed the lives of our military. How about the Feminism war? You know the one that was totally produced by he elites to get the children away from their mother and the influence of her motherly care. Let’s wreck the family and oh, by the way how about abortion???? Let’s convince mother’s there is choice and she can feel free to KILL the unwanted fetus (human) in her womb.
What you fail to understand is we were created in the likeness of God. God didn’t say, “Hey! if you don’t like the way I created you, well then feel free to change.” You know maybe God made a mistake….NOT. It is you who try to cram down Christians throat your agenda. Not happening.. We will be praying for your lost soul. Too bad you cannot find the peace we have in Christ Our Savior. Go in Peace and do not visit again….
What do you have a problem with in Agenda 21 ? It is not an extermination program as some of you Right Wing conspiracy theorists think. It is a stewardship program to promote conservation of our planet and promote equality for all. Even George “W” Bush supported it. It has to this day complete bipartisan support and Congress as well as most think tanks (Rand Corporation, Project for the New American Century, John Birch Society, Brookings Institution, Council on Foreign Relations, Hastings Center and Cato Institute) endorse it. Now what have you to say my dear ? By the way, my favorite presidential candidate also endorses it. And her name aint Carly.
Gina or Jim you are a paid troll and you and I both know it. This is your last comment here.
Greg
Greg,
I am not a paid troll. Who would pay me to make a comment ?
Greg,
The rebuttals to Gina are priceless, and I enjoy reading them … for what it is worth. They often give me an additional angle to discuss when I am at my ‘dyed in wool’ socialist sister (PhD in social equality garbage) house. They, the Gina’s, freely drink the ‘kool-aid’ and believe this utopia garbage … and only they, the elites, have the answers. And all I see are the results of other elites … Stalin, Hitler, Mao, Pol Pot, Castro etc., and the hundreds, and hundreds of millions dead … go Adam Smith
Being whatever you want to be has consequences. The “way” you support has detrimental consequenes.
Yes Gina and i’m looking forward when old age and death are done away with, we will be able to do the Macarema together! I mean it’s great your outlook but few share your enthusiasm and sad to say even less share mine. But I’m an eternal optimist and I plan to stick around through thick and thin, the doom and gloom you spoke of, cause I have an insatiable curiosity for love, life and happiness!
Gina don’t go, I don’t care if your a man woman or alien, Greg’s pretty tolerant and everybody’s welcome as long as they behave themselves, just don’t get uppity! Then we wont have to pity you!
IN THESE dark days, Gina, many people see little cause for rejoicing. When tragedy strikes them or someone they love, they may feel like ancient Job, who said: “Man, born of woman, is short-lived and glutted with agitation.” (Job 14:1) Christians are not immune to the stresses and strains of these “critical times hard to deal with,” and it is not surprising that faithful servants of God sometimes become discouraged.—2 Timothy 3:1.
Still, Christians can be joyful, even when under trial. (Acts 5:40, 41) To understand how this is possible, consider first what joy is. Joy has been defined as “the emotion excited by the acquisition or expectation of good.” Consequently, if we take the time to count our present blessings while meditating on the joys that await us in God’s promised new world, we can be joyful.
Everyone has some blessings for which to be grateful. A family head may lose his job. Naturally, he is concerned. He wants to provide for his loved ones. Still, if he is physically strong and in good health, he can be grateful for that. If he finds employment, he will be able to work hard. On the other hand, a Christian woman may have been stricken with a debilitating illness. Yet, she may give thanks for the support of loving friends and family members who help her face her illness with dignity and courage. And all true Christians, regardless of their circumstances, can rejoice in the privilege of knowing, “the happy God,” and Jesus Christ, “the happy and only Potentate.” (1 Timothy 1:11; 6:15) Yes, Jehovah God and Jesus Christ are supremely happy. They have maintained their joy despite the fact that conditions on earth are far different from what God intended in the beginning. Their example can teach us much about how to maintain our joy.
In the garden of Eden, Adam and Eve enjoyed radiant health and had perfect minds. They had productive work to do and ideal surroundings in which to do it. Best of all, they had the privilege of regularly communicating with God. It was his purpose that they enjoy a happy future. But our first parents were not satisfied with all these good gifts; they stole the forbidden fruit from “the tree of the knowledge of good and bad.” This disobedient act laid the groundwork for all the unhappiness that we, their descendants, are experiencing today.—Genesis 2:15-17; 3:6; Romans 5:12.
However, God did not allow the ungrateful attitude of Adam and Eve to rob him of his joy. He was confident that the hearts of at least some of their offspring would be moved to serve him. He was so confident, in fact, that even before Adam and Eve produced their first child, he announced his purpose to redeem their obedient descendants! (Genesis 1:31; 3:15) In the centuries that followed, the majority of mankind walked in the footsteps of Adam and Eve, but God did not turn his back on the human family because of such widespread disobedience. Rather, he centered his attention on the men and women who ‘made his heart rejoice,’ those who made a real effort to please him because they loved him.—Proverbs 27:11; Hebrews 6:10.
What about Jesus—how did he maintain his joy? As the mighty son, in heaven, Jesus had every opportunity to observe the activities of men and women on earth. Their imperfections were obvious, yet Jesus loved them. (Proverbs 8:31) Later, when he came to earth and actually “resided among” humans, his view of mankind did not change. (John 1:14) What enabled the perfect Son of God to maintain such a positive view of the sinful human family?
First of all, Jesus was reasonable in his expectations both of himself and of others. He knew that he was not going to convert the world. (Matthew 10:32-39) So he rejoiced when even one sincere person responded favorably to his Kingdom message. Although the conduct and attitude of his disciples sometimes left much to be desired, Jesus knew that at heart they really wanted to do God’s will, and he loved them on that account. (Luke 9:46; 22:24, 28-32, 60-62) Significantly, in prayer to his heavenly Father, Jesus summarized the positive course that his disciples had taken up to that point: “They have observed your word.”—John 17:6
Without doubt, all of us would benefit from reflecting on the example set by God and Christ Jesus in this respect. Can we more fully imitate them perhaps by not becoming overly concerned when things do not work out just as we had hoped? Can we follow more closely in Jesus’ footsteps by maintaining a positive viewpoint toward our present circumstances, as well as by being reasonable in what we expect of ourselves and others?
Yes, even in these troublesome times, we can be joyful in worshiping our happy God. We have many reasons to respond to Paul’s encouragement: “Continue to rejoice, . . . and the God of love and of peace will be with you.” (2 Corinthians 13:11)
As the Bible promises, all of sickness, death, and old age will be done away with after Armageddon. Then we will live on a paradise earth forever in perfection.
(Isaiah 25:8) . . .He will actually swallow up death forever, and the Sovereign Lord Jehovah will certainly wipe the tears from all faces. And the reproach of his people he will take away from all the earth, for Jehovah himself has spoken [it].
(Revelation 21:4) . . .And he will wipe out every tear from their eyes, and death will be no more, neither will mourning nor outcry nor pain be anymore. The former things have passed away.”
(Revelation 21:1) . . .And I saw a new heaven and a new earth; for the former heaven and the former earth had passed away, and the sea is no more. . .
Well, in the new system of things there will be no more sickness, old age (we will live forever) and death will actually cease to exist!
More scriptures to back this up…
Isaiah 35:5 & 6: “5 At that time the eyes of the blind ones will be opened, and the very ears of the deaf ones will be unstopped. 6 At that time the lame one will climb up just as a stag does, and the tongue of the speechless one will cry out in gladness. For in the wilderness waters will have burst out, and torrents in the desert plain”
Revelation 21:3-5: “3 With that I heard a loud voice from the throne say: “Look! The tent of God is with mankind, and he will reside with them, and they will be his peoples. And God himself will be with them. 4 And he will wipe out every tear from their eyes, and death will be no more, neither will mourning nor outcry nor pain be anymore. The former things have passed away.”
5 And the One seated on the throne said: “Look! I am making all things new.” Also, he says: “Write, because these words are faithful and true.”
Isaiah 25:8: “He will actually swallow up death forever, and the Sovereign Lord Jehovah will certainly wipe the tears from all faces. And the reproach of his people he will take away from all the earth, for God himself has spoken [it].”
Revelation 20: 14: “And death and Ha′des were hurled into the lake of fire. This means the second death, the lake of fire.”
This symbolic “lake of fire” means the second death, which is another way of saying that there will be no more death or grave…there is no return after the second death…the end! Satan and his followers will experience this second death as well. A complete end, no more existence to plague wo-mankind!
Revelation 21:3,4 sickness will be no more, neither with death, nor mourning, nor outcry, nor pain be any more. The former things have passed away!
What a wonderful hope and a reason to be alive!
And also one of my faves: Psalms 37:9-11 how the wicked will be done away with and the meek and righteous will inherit the earth.
As promised in the bible all things will passaway like sickness, we will get a renewed body and death will pass away. all heartache will be gone.
Yes Gina, were both nut’s, especially me, thank God, but we got hope!
Gina,
One more thing, how much do you think Bruce Jenner was paid. He surely needed something. What was it? Money, fame, another reality show. The agenda of the Elites is to suppress the Natural Law and support Man’s Law. God made laws for us to follow. The Elite do not follow our God. Their god is perverse and wants to make all of it’s followers the same.
The elite want population reduction….abortion, gay marriage, transsexuals, etc. With this two of the same sex cannot reproduce….therefore fewer children. But they won’t stop with that. The gay men are going to want their own child…man’s law cannot change that…so they will bring in science to do the job with a willing woman.
You cannot change Natural Law. Enough said, we are not sheeple that you can carouse into the fence of your choice. We remain God’s children. Find somewhere else to troll.
Gina … you are in need of a hero … not the “fallen” Hillary you think is an angel … you should be holding out for the true white knight Christ … https://www.youtube.com/watch?v=OBwS66EBUcY
Accepting mental illness as choice is not God’s will and out doesn’t make a country great. Mental illness should be treated, not encouraged. No one will look back on the changes being forced upon us by a very small minority as a good thing. It will be pointed to as the start of the decline that destroyed a one great nation.
What does everyone here think of little Rand Paul and his opposition to the Patriot Act Does anyone believe that he is sincere or just trying to garner support from us sheeple?It seems that the powers that be will force either the hag Hillary or the skull and bones Bush on us regardless of what we want. Sad situation in this country even to imagine such an abomination Greg. God help us all
Frederick,
He took a lot of heat from some big wigs in the GOP. I don’t think he would have tried this as purely a political stunt. I personally think he was sincere. Bravo Senator Paul for fighting the good fight!! I think they should drop all charges on Snowden as well and bring him home.
Greg
I agree with that about Snowden why doesnt someone start a campaign to do just that Greg?
Frederick,
I’m a huge fan of Rand Paul since he, like his father, believe in the Constitution and the rights of the people. The more I read into the Patriot Act the more I feel it was constructed for the American people than the terrorists. Our rights are being ignored every week and Obama is nothing more than a globalist IMHO. We need defenders of our sacred documents that are the foundation of this great nation.
Hillary is more of the same and a complete joke. Jeb is a mainstream favorite due to his family, but I hope if Rand wakes enough people up he can make a serious run for the Whitehouse. To me Dems and Cons are different sides of the same coin. We need a different direction period!
Mark I totally agree with all that you wrote Lets get Rand elected brother god bless buddy
His father it’s currently shilling on TV for a convicted scam article. Not big on some one selling their reputation to help someone like that take advantage of gullible people
I wholeheartedly agree!
He released a lot more classifed info than NSA stuff. He is not justified in that
Bob,
Either is the NSA for illegally and unconstitutionally spying on all Americans. Maybe they can cancel each other out. Snowden is not a criminal. He was a whistle blower and that pissed some very important people off.
Greg
I liked Ron, even worked in his network. When it comes to the MIC Military Industrial Complex Rand is wrong for supporting what is wrong at its base. Yeah he speaks better then Ron, but his politics will never get my vote. In fact I am still bitter at how the RNC did Ron Paul. Changing the rules at the last minute burnt me from ever voting again. I count my pennies. My dollars are counted as solders… My time is invaluable. RNC destroyed the republican party.
Brother JC,
RNC=Establishment=status quo=vested interests. George Wallace (1968) called the Republicans and the Democrats “Tweedledee and Tweedledum” with not a “dime’s worth of difference” between the two. And now you see the problem. We let 40 years’ worth of alternatives wither and die and the country with it for the sake of the vested interests and their ilk who put themselves first. Best always. PM
Greg once again another excellent week! great interviews, and really good information. Because of your channel I no longer watch MSM. Because of the impending crash Can I ask if it is possible for you to do a week of prepper shows? I think it would be really useful, as I believe that it has now sadly come to the point of regular people getting fully ready.
Thank you Al, I will consider.
Greg
Would like to second that, Greg! The people that care about these things need to learn all that they can about survival and helping each other. And, don’t be offended, but please get some rest in a nice peaceful place, Greg. You look tired, Brother. Can’t do everything……got to preserve your well being. Folks need you for the long run. Thanks for your dedication!
Greg, Maybe interview James Wesley Rawles … DB
Did anyone else’s local tv station talk about the Fed going to raise interest rates this year? Mine did, (in downstate Illinois) and they said “what you need to do is buy a home now at these low rates before the interest rises this summer or fall”. They ended the report by saying “analysts predict that the interest rate could raise to 6% by 2017″… At which point I almost spit my drink out. It’s amazing how everyone in the MSM is such a willing participant in the Great Deception.
I also thought it was interesting how they are harping on China stealing all of these gov employee people’s data. Sounds like the are lining China up to compete with Russia to be the next Great Satan or something…
BTW, great WNW, Greg. :).
Very interesting Anne. I would have spit my drink out too. My first thought on this:
Perhaps this goes back to Greg’s point above (which I agree with), anything not free and clear will be fair game to cover banks’ loss of collateral. If that’s the backdrop then:
people who have any savings not in play and want something tangible may be frightened (by talk of rising interest rates) into buying a house (tangibility) with a substantial mortgage (better now that rates are low than later when they will be 6%) and so the equity they put down will be fair game when things go down (as their property is not free and clear). Perhaps just another way of getting savers to put money into play so it can be fair game later??
I was talking to a real estate agent just yesterday and he (I’ve known him for a while and he is knowledgable of this market and sincere) was spouting the same narrative (which I think he believes) – I asked why things are selling so quickly in this area this spring (in a few days rather than a few weeks or months as has always been the case around here). His response: rates are going up later in the fall so people are buying anything and quickly. (My one neighbour took 18 months to sell his house 2 years ago. My other neighbour sold it in three days last week with competing offers. Same style house.)
So, either people are realizing the need for tangible assets and paying cash for real estate (how many can actually afford to do that??) or, more likely people are leveraging themselves to the hilt to get into the market before higher rates happen. And therefore exposing themselves to risk…
“The economy is picking up steam” is actually true. Steam is a form of hot air.
About the “Stingy Americans” article, can’t remember where, but an article was about the comments that people wrote to/about the author in the online version. I do not advocate violence, but it is worth having a look-see.
Great wrap-up Greg! Since I don’t follow mainstream anymore, seeing some of these headline articles is now a form of humor.
I found this article interesting… Will this contribute to a 2015-2016 Housing Market Crash, increased foreclosures, lower interest rates on Mortgages, and decreased spending altogether to sink the economy further?
Thoughts?
I found this article interesting… Will this contribute to a 2015-2016 Housing Market Crash, increased foreclosures, lower interest rates on Mortgages, and decreased spending altogether to sink the economy further?
https://homes.yahoo.com/news/265-billion-wave-thats-crush-130038955.html
Thoughts?
Thoughts?
None of this looks good – Where to go? Where to turn? Get ready to duck!!!
Hi Greg,
I like your site and your reporting. Interviews are cool as wel, however, I miss one thing… and that is the solution how we can overcome these problems.
Everyone in the interview keeps talking how markets will collapse and gold will rise and stuff like that, but how can we benefit from this? Or at least how can we protect our current savings?
Should we buy physical gold, silver, land or smth else? If yes, where and how can we do it in the most sufficient way?
I miss this kind of info on this site!
Otherwise, great work! Keep up with it!
Just my 2 cents… mike
Mike,
No solution will be possible until after the crash. Do you hear a single candidate wanting to fix the financial system and the criminal bankers? Of course not. We cannot fix the system until the rule of law is reestablished, and it starts with criminal bankers.
Greg
Great Wrap-up once again, Greg!
Here is some truth music:
https://www.youtube.com/watch?v=yXZYZAkbPCo
The Chicoms hacked into a government computer system recently and obtained personal information on millions of employees included their security clearances. Some say; so what! What are they going to do with it? Probably nothing…for now. More importantly it was a shot across our bow, warning us to leave them alone to pursue their ventures in the South China Sea or maybe our power grid may be next. They are showing us/the world, what they can do. They own us in more ways than one. We have to face it…our greatness is waning due to this administration and if Clinton is able to buy her way into the WH ….start learning Mandarin.
My mother died 2 weeks ago. She was 18 months short of 100 years old. She was born in 1917, the year of the Russian Revolution.
She had a 7th-grade education as a result of the 1930s depression, went to work in Brooklyn. English was not her first language but she spoke it better than those born here, with a slight Brooklyn accent.
She was Greta Garbo gorgeous for most of her adult life. Had 9 children total, always looked like she just stepped out of the shower. Always smelled faintly of Shalimar. I never saw the woman sweat.
She avoided doctors, outlived the few she had. Outlived all of her family save one sister. Outlived all of her friends. Nothing rattled her. She sat in bed at night in her last years “counting her silver coins”. She won these in a casino in Vegas in 1958.
I went on Gerald Celente’s site one day and listened to him tell the story of his own mother’s passing. He lost it at one point, and so did I. He described what the world was like and what people were like at one time in this country. I understood him completely. I was born in September 1950. I experienced good portions of that world or I lived it through my elders’ tellings.
Diversity back then was rolling up the Persian carpet in the living room, pulling out the accordion and dancing like a bunch of Cossacks until my dad came home. He insisted we be Americans. Only our American selves ever left that house. We “kept our Croat” in the living room.
Mom did not speak English at home when any of her sisters or brothers were around (and they were always around). It was her way of shielding us from grown-up concerns. No one in their right minds would dirty their kids up on the Jenner and the Lady Gaga ilk of this world. You’d be a moose head on the wall if you tried.
Mom prayed a lot. I remember rosary sessions in the dining room as a kid all through Lent, going to pray before every last manger of every RC church in the city at Xmas time. When my husband died, she told me “I say a rosary for Don every day.” Knowing this helped me beyond any other sort of support anyone could give me. Mom referred to today’s Mass as the “hippy-dippy” Mass. The church changed. She never did.
I hold out hope that after our meltdown we can somehow get back to the lives we had before gov’t got in the middle.
Donna,
I am sorry for your loss, and thank you for sharing this story with us.
Greg
Donna
My sympathy to you on the loss of your mum and what a delightful story about an extraordinary women.
I really enjoyed reading this and being reminded that there are so many wonderful people in this world and from such different and fascinating backgrounds.
This reminded me of the tragedy that still persists in the western world and particularly with the Anglo American alliance where they annually invest billions in warfare and bloodshed on global scale. The social and economic repercussions of this perpetual warfare never ends for the countries like Vietnam, Iraq, and Libya to name but a few that are the victims of this macabre agenda. Each year the AAA adds another victim to the list. In 2014 it was the Ukraine. In 2015 they are stirring up trouble in Macedonia. Which country will be next on there murderous hit list?
People like Hilary, Kerry and Nuland have blood all over their hands and yet are seemingly proud of their role. Even worse they seem to rise up through the political ranks not in spite of their butchery but seemingly because of it.
Cheers
Col
D Casey writes: Bond Markets Are Cracking
“There’s chaos in European bond markets.”
“German 10-year bonds yields have climbed to 0.9%, from the record low of 0.049% in April. They haven’t sold off that hard since October 1998, when hedge fund Long-Term Capital Management imploded.”
“The bond rout is partially European Central Bank chief Mario Draghi’s fault. On Wednesday, he spooked markets when he warned “prepare for higher volatility.””
“Many, including Draghi, believe bond yields are rising because inflation is picking up in Europe. But we think it might be because the Greek debt crisis is finally boiling over.”
“Signs are ominous. European officials are holding an alarming number of “emergency” meetings in Brussels. And Greece has become the first developed country to ever miss a payment to the IMF.”
“It‘s getting harder to ignore the reality that Greece will have to default eventually.”
“The turmoil has even spread to the United States bond market. Treasury prices have tanked and liquidity is drying up. And for the first time in 2015, 10-year Treasuries are now down for the year.”
“The Casey Report warned readers in May that: It’s time to exit bonds and watch from the sidelines.”
I too no longer listen to MSM.
It is reporting that is either incomplete or just plain BS.
I also believe that in the coming months GOLD will be released from it’s shackles and will be set free.
Physical trading will over rule the paper game and the paper game with go the way of the dodo bird.
Once gold returns to it’s proper standing we will begin a very quick process of bringing back truth and accountability to a revised fiat monetary system.
If you do not think something is about to go down ask yourself why…
is Greece taking to Moscow this weekend?
Why is Canada in the Ukraine this weekend?
Why is the USA in Germany this week?
This is like an old Western movie.
Are they preparing to place the wagons in a circle and loading their guns???
Hug someone you love today.
Things are going to get very hairy soon.
Greg: our system is so corrupt! see these two interviews:
Confessions of an Economic Hitman with John Perkins =
https://www.youtube.com/watch?v=Cora2zzVl3o
https://www.youtube.com/watch?v=y-a6jzU0YgQ
al