Weekly News Wrap-Up 9.30.11
By Greg Hunter’s USAWatchdog.com
Germany brings Europe and the world back from the edge of a financial abyss. It voted to expand the EU bailout fund. This is not over by a long shot. Things are much worse that in 2008. For one thing, 3 big U.S. banks have been downgraded, and there were no banks downgraded in the last calamity. On a political note, Herman Cain has been climbing in the polls right along with Ron Paul. In a recent national poll, Cain loses to Obama by only a few percentage points, and Paul ties or beats President O. I predict Cain, at the very least, will be a VP candidate if he does not win the Republican nomination. Unemployment numbers are down but not really, and the Occupy Wall Street Protest is gathering steam. I don’t know why anyone would be angry at greedy bankers that wrecked the world economy and got off scot-free. Greg Hunter from USAWatchdog.com delivers these stories and more in the latest installment of 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.
“Germany brings Europe and the world back from the edge of a financial abyss. It voted to expand the EU bailout fund.”
This can only be a temporary fix in my opinion. You can’t fix a debt problem by adding more debt. What is needed are currencies not issued by private central banks and not based on debt.
Lynn,
You are so correct. It will only be temporary. Thank you for weighing in.
Greg
Greg, H. Cain has a personality that is hard not to like, honest, sincere, straight shooter, who won’t change with a fart in the wind. Frankly, he is a breath of fresh air. I don’t believe Mr. Cain is a blimp on the screen either. One thing is for sure, no matter who is nominated or who wins the economic slowdown will continue until the printing stops and we can reboot the computer. Thank you for your work.
Bank of America is going to start charging it’s customers $5 dollars a month to use their credit cards.
This tells me that they are really struggling to raise money and something is wrong. What could it be?
It’s apparent that there was a great deal of criminality among the bankers, but why would they make loans that had a high probability of failing? It doesn’t sound like sensible fiscal policy to me. Maybe the politicians pushed them into this mess with the Community Re-investment Act, spawned by Liberal thought and signed by Clinton. The bankers aren’t the only ones whose heads should roll; the policians are just as much, or more, liable. Fiddlin
The banks did what Cheney believed in, debt don’t matter. All the money printing and bad loans was to keep the sheep happy and fat. Would the citizen have back these useless war if they had to pay as they go,I think not.
Herman Cain is a Keynesian fiat currency supporter and was a Federal Reserve Banker. Ron Paul is a Defender and law abiding supporter of the U.S. Constitution. Ron Paul is from the same school of thought as taught by the great Austrian Economist, Ludwig Von Mises. It will be more of the same with Cain. It will be true hope and change with Ron Paul in 2012. Change for the good of the people, not the fiat Fed banking system.
I am normally a political atheist and in fact believe that our current system democracy – of party politics – has served its purpose and must be replaced with something more evolved. As such I rarely pay attention to issues such as US presidential nominees. I did pick up four years ago on the rousing sweep of Obama’s speeches and expected something visionary. But look at the debt ceiling raises during his tenure…Further, the Bin Laden really worried me. They trespassed onto Pakistan and assassinated him – no attempt to arrest or anything. He approved this and it seems contrary to justice.
This brings me to Ron Paul. I can’t say whether everything in his presidency would be perfect. I think of him as a kind of chemotherapy for the world’s cancer. He is the only one who is talking about the solutions that are really needed. The world needs a really radical treatment. I do think we need a body like the U.N. for instance. I do think that there may be situations where the might of the world should crush an aggressor. So on a long-term basis we need more than just the views of Dr. Paul. But in terms of short-term treatment something does need to be done about these illegal wars, the 700-900 military bases and the economically perverted systems in the West…
The 5 dollar bank fee seems fair, for now. I see the banking system will have a big price war soon. We all know information is one of the cheapest things to ship around. Some smart kids will build a system that won’t need the dead weight of all the old guys and investors sitting on the board. The old banking system is going down and that’s not a bad thing.
Bob,
I think smaller banks are going to take some market share.
Greg
Hey Greg, that recent scene of that poor young woman getting pepper sprayed by NY’s finest was shamless to say the least. In the end the meek will inherit the earth.
If the worlds citizens do not rid themselves of the IMF and fiat currency central banking monetary system, we will are be the slaves of these criminals. At least Argentina’s Presidente Kitchner has it right, end the IMF. She has big kahunas. We need a global mindset such as hers.
Well, the ECRI has called it a Recession, based on forward looking indicators. So, that’s fairly “official.” There’s more:
http://globaleconomicanalysis.blogspot.com/2011/09/ecri-calls-recession-based-on-contagion.html
Mountainaires,
Thank you for the content. Happy to have you back. It has been awhile.
Greg
When the government fears the people, there is liberty. When the people fear the government, there is tyranny. Thomas Jefferson (1743–1826)
My family will suport Ron Paul for president as long as he follows and suports the Consitution and the bill of rights and Suports the Military and Border Patrol for homeland defense and I hope he disbands most government agencies like Homeland Security, Union Control of Federal and state Workers, Teachers, USDA, Department of Education, etc. Cut Welfare and other Government grants and loans to foreign countries. Force foreighn indebpted countries like Germany, Europe, Asia, Iraq, Afganistan, Iran, etc to pay us back with 10+% interest!
Force Pay back the money stolen from America from large corporations off shores. Ron Paul must help return all rights to speech, property, free speach, and get far left comunist and socialist judges out of our courts.
People who don’t understand the difference between Rule of Law, and Rule by Law, are destined to be slaves.
I prefer the government performs only its most basic functions: foreign policy, protect its borders, … Over the last decade I have begun to feel as though those preferences put me in a minority.
Hi Greg
I’m from South Korea and I have become your fan.
Every weekend I look forward to reading your post to learn the truth.
The below address is about the debt of the US illustrated getting more easy understanding how it is dangerous. Thank you!
http://www.sharegoodstuffs.com/2011/08/ever-wondered-what-us-debt-looked-like.html
Moon,
Good to have on on the site.
Greg
Great video Greg….we need to put these good ole’ boys in jail. at the very least…and why did nobody get fired except the Merril Lynch guy with the million dollar office makeover
Thank you George!!
Greg
Greg,
Why do so many new stock investors sign away their voting rights by signing the proxy vote cards? Instead, they should organize into large investment clubs and appoint a representative for each board meeting to which they have given temporary proxy rights. Then finance his trip to meetings. This would be at least a small step in curbing the power of board members to give themselves big paychecks and bonuses. I can’t understand how people believe the statement “without the big bonuses, we would lose our talented leaders”. Was it talent that crashed the market?
OG,
Good question!
Greg