By Greg Hunter’s USAWatchdog.com 

Haven’t heard much about Occupy Wall Street (OWS) lately, but it is still going on.  The official premise is to protest greed and corruption on Wall Street.  Unofficially, I think it is a bunch of people who have awoken to the fact they have been financially screwed.  Yes, I know the Communist party, Nazi party and unions are all trying to hijack and latch onto this movement, but I think, at its heart, it’s much more than that.  (more…)

By Greg Hunter’s USAWatchdog.com 

What is going on in the world today is both frightening and historic.  It is frightening because the amount of debt accumulated is orders of magnitude more than ever before.  It is historic because the way this finally shakes out will be considered a major turning point in modern history.  I see this, but most people in the world are either in denial, delusional or just a victim of disinformation by the mainstream media (MSM).  (more…)

By Greg Hunter’s USAWatchdog.com  

Will the people of Greece vote on the 130 billion euro bailout plan?  Not now, according to the Greek Prime Minister.  The people will be heard even if it comes to more intense protests in the streets.  For now, the sovereign debt crisis and worldwide financial meltdown are on hold, but not for long.  (more…)

By Greg Hunter’s USAWatcdhdog.com

The Prime Minister of Greece, George Papandreou, has called off a vote by the people of his country on whether to accept a 130 billion euro bailout and stay in the EU.  Earlier this week, the Prime Minister thought that would be a good idea and, today, not such a good idea.  People there are asking for his resignation.  There is talk that the Greek government could collapse.  Meanwhile, the G20 meeting in the South of France at Cannes is consumed by the EU debt crisis.  World leaders are looking for ways to stop a domino-like financial collapse. (more…)

By Greg Hunter’s USAWatchdog.com 

On Monday, I said at the end of my post, “I think someday we will “grow” our way out of the economic mess we are in but not before a very big fall.”  I didn’t think the fall would come the very next day–but it did.  Two monster nukes exploded on the financial landscape.  They are the surprise MF Global bankruptcy and the equally surprising Greek referendum on the second bailout package.  Kaboom and kaboom!!!  I see not one, but two giant mushroom clouds on the horizon, and destruction is headed our way.  Anyone underselling these two bombs is on some pretty heavy Prozac.  This is a turning point, and the turn is decidedly bad. It’s a global financial crash. (more…)

By Greg Hunter’s USAWatchdog.com 

Last week, the government announced the economy (gross domestic product, GDP) grew at a 2.5% rate.  The mainstream media (MSM) hailed this as some significant turnaround.  Businessweek.com reported, “Buoyed by a resurgent consumer and strong business investment, the economy expanded at an annual rate of 2.5 percent in the July-September quarter, the government said Thursday.  (more…)

By Greg Hunter’s USAWatchdog.com  

Stocks soared this week as the EU agreed on a deal that will address its sovereign debt crisis.  The Dow was up nearly 340 points to 12,200, but is the debt problem really fixed?  NO WAY!!!  There is just too much debt to deal with.  Any solution will need mountains of freshly printed currency.  That’s why gold and oil were also up big this week.  (more…)

By Greg Hunter’s USAWatchdog.com 

When I first heard of the deal to fix the European debt crisis, I thought, “Is the EU Sovereign Debt Problem Really Fixed?”  This is a complicated solution and mainly addresses sour Greek debt.  Bankers are supposed to take a 50% cut in value of their bonds, which means taxpayers in Europe will subsidize the rest of the losses.  There is also a new agreement on the European Financial Stability Facility (EFSF) or bailout fund that should raise it up to around $1.4 trillion (1trillion euros).  Of course there are really no real details on where that money is coming from.  (more…)

By Greg Hunter’s USAWatchdog.com 

I was surprised to see the Dow only off a few hundred points yesterday considering all the problems European Union finance ministers are having getting a sovereign debt rescue plan together.  A 200 point loss on the Dow dramatically underestimates the amount of damage that could be done if the EU debt crisis goes haywire.  Maybe everyone is thinking the Federal Reserve will ultimately backstop Europe but, then again, the Fed can’t bail out every bank.  (more…)

By Greg Hunter’s USAWatchdog.com 

The meeting yesterday in Europe to come up with a plan to stem the sovereign debt crisis turned sour.  Zero was accomplished, except to put even more fear into the world over an impending financial meltdown that will likely be worse than the 2008 mushroom cloud.  (more…)

By Greg Hunter’s USAWatchdog.com

It only cost one or two billion bucks to get rid of Libya’s leader, Muammar Gaddafi.  Was it worth it?  He pled for his life, but was killed anyway.  Did NATO want him dead?  Would a war crime trial embarrass the West?  We will never know.  The EU sovereign debt crisis is at an impasse.  The debt of Spain was downgraded and France may be next in line for a cut.  Some very big French banks are in trouble.   (more…)

By Greg Hunter’s USAWatchdog.com 

The U.S. stock market surged yesterday on news the European Union (EU) would deploy a two trillion euro rescue fund to help get its sovereign debt crisis under control.  This news was so good even battered Bank of America stock jumped more than 10%.  Crisis averted?  Hold on, not so fast.  (more…)

Things are not looking good for European banks or, for that matter, U.S. banks.  Bankers are cutting expenses and laying off workers in droves as their profits go up in smoke.  The bankers got what they wanted years ago—almost all regulations cut.  They ran wild, and it blew up. This has brought the world to the brink of insolvency.  Many banks are going to fail as governments can’t save them all.  One of the things that will likely emerge from the ashes of failed private banks will be public banks.  In this scenario, some banks will be re-engineered to be more like utilities.  (more…)

By Greg Hunter’s USAWatchdog.com 

What started out as a little insignificant protest that the mainstream media tried to ignore (or at least downplay) has turned into a global phenomenon in a little less than a month.  One of the many headlines that featured the protesters of the Occupy Wall Street (OWS) movement this past weekend said “From Tahrir Square to Times Square: Protests Erupt in Over 1,500 Cities Worldwide.” (more…)

By Greg Hunter’s USAWatchdog.com  The alleged Iranian plot to kill the Saudi Ambassador in Washington D.C. has put everyone on edge even though it was foiled.  Secretary of State Hilary Clinton says it is a “dangerous escalation.”  The U.S. government considers this an act of terrorism and this could spark another war.  This could cause $200 barrel oil almost overnight and wreak havoc on the fragile world economy.  Speaking of the economy, Europe is a mess and it appears that the EU is going to have to print lots of money and let some banks fail as it braces for a Greek default.  (more…)