By Greg Hunter’s USAWatchdog.com 

The “you know what” hit the fan today with sharp selloffs of just about everything.  The Dow was off nearly 400 points–ouch!  So much for the so-called “recovery.”  Gold made a significant comeback after being down nearly $80 at one point, but it still took one on the chin.  Yesterday, Fed Chief Ben Bernanke admitted that the world economy was in the tank and headed lower when he said there were “. . . significant downside risks to the economic outlook, including strains in global financial markets.”  (more…)

By Greg Hunter’s USAWatchdog.com  Have you heard about the Wall Street protest in lower Manhattan called “Occupy Wall Street”?  It started Saturday, and it basically is a protest against greed and corruption in the financial markets. The Wall Street protests really haven’t gotten much attention from the mainstream media (MSM).  I wouldn’t call it a media blackout, but it sure looks gray to me.  (more…)

A few weeks ago, the Telegraph UK did a story about the sharp drop in foreign holdings of U.S. Treasuries.  One of the big buyers of American debt is, of course, China.  There are those that think China is forced to buy our debt otherwise its economy will collapse.  Until the Treasury releases what is called “TIC” data  (Treasury International Capital) in November, we really will not know what is going on. (more…)

By Greg Hunter’s USAWatchdog.com 

It doesn’t seem that anyone is worried much about another enormous bailout to stabilize the world financial system that kicked off last week.  According to one top European banker, many of the biggest banks there are insolvent.  The problem is so large that the European Central Bank along with the Bank of Japan, Bank of England, Bank of Switzerland, and the U.S. Federal Reserve will all team up and bailout Europe—again. (more…)

Greg Hunter’s USAWatchdog.com 

Looks like the Federal Reserve will print trillions of fresh dollars to head off another financial meltdown.  Europe will be bailed out for the second time in 3 years!!  In the last crisis, the Fed handed foreign banks $5 trillion, and now those banks are in trouble again.  Speaker of the House John Boehner is putting down Obama’s jobs bill. (more…)

Greg Hunter’s USAWatchdog.com 

Treasury Secretary Tim Geithner said yesterday that European states “are going to have to do more” to solve their enormous debt troubles.  To that I ask, “more” of what?  That can only be “more” money printing.  Mark my words, more debt and fiat currency will be the ultimate answer to the European debt problem.  It is either that or let the banks and some countries in Europe go under.  If Greece was the only country to default and leave the EU, then that would not be all that bad.  The real problem is all the other heavily indebted countries that are levels of magnitude more of a problem than little Greece. (more…)

By Greg Hunter’s USAWatchdog.com 

It is hard being a front runner, and just weeks after entering the race for President, Governor Rick Perry now knows it.  During the Republican Presidential debate on Monday night, Perry was hammered for signing an order in Texas four years ago requiring pre-teenage girls to be vaccinated against the human papillomavirus.  HPV is a sexually spread virus that can cause cervical cancer.  (more…)

Greg Hunter’s USAWatchdog.com

This is a take-off on a commercial produced last November by Citizens Against Government Waste.  It was so controversial that major networks would not air it.  In this version, Congressman Ron Paul is inserted.  It is totally unofficial and not produced by the Paul campaign, but it is just as powerful as the original version.   I thought this would be fun to watch in now that the second Republican debate is behind us. (more…)

By Greg Hunter’s USAWatchdog.com 

The head of the International Monetary Fund, Christine Largarde, said Friday the world economy is entering a “dangerous new phase.”  Lagarde is referring to a debt bubble, the likes of which the planet has never seen before, and the possibility that it could all unravel at any moment.  Uncertainty over the debt crisis in Europe is what caused the Dow to crash more than 300 points at the end of last week.   What is Lagarde going to do about the debt problem? (more…)

By Greg Hunter’s USAWatchdog.com

I watched the Republican debate last night and thought Ron Paul did pretty good.  Romney did surprising well and Perry also did OK.  So who won?  If you watched the coverage afterward, you would have thought Dr. Paul was out having dinner with Sarah Palin (platonically of course.)  Very little was mentioned about his performance.  So the mainstream media (MSM) did it again. (more…)

By Greg Hunter’s USAWatchdog.com 

Last Friday, the Federal Housing Finance Agency filed lawsuits against 17 of the largest banks and financial institutions in the world.  FHFA is seeking a total of $196 billion in restitution from these institutions for not disclosing risky mortgages sold to Fannie Mae and Freddie Mac that went sour. (more…)

Greg Hunter’s USAWatchdog.com

There is big trouble in Europe with their sovereign debt crisis and insolvent banks.  Deutsche Bank CEOJosef Ackermann gave a stunning speech recently where he said, “It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels.” (more…)

By Greg Hunter’s USAWatchdog.com

This is not going to be a long post today.  Everybody is going to be out cooking on the grill and having fun.  I just want to clear up one little number the Bureau of Labor Statistics (BLS) put out on Friday.  The BLS reported “zero” net jobs were created last month.  According to John Williams of Shadowstats.com, the jobs picture was more dire than reported. (more…)

By Greg Hunter’s USAWatchdog.com

Irene was the big story this week.  It was bit over hyped by the MSM for some areas and under-hyped for others.  It did cause several billion dollars in damages.  Isn’t it funny how the mainstream media is all hands on deck for a storm that caused several billion bucks but it will hardly report the recent disclosure of $16 trillion in Fed bailouts during the financial crisis?  Gaddafi has a week to surrender.  (more…)

Last week, the Federal Reserve announced that it was not starting a third round of money printing (QE3).  (Don’t worry, it is only a matter of time before the money printing will begin again in earnest.)  Fed Chief Ben Bernanke put that thought out after the much awaited Fed meeting in Jackson Hole, Wyoming, wrapped up.  I say QE3 already started when the Fed locked in 0% interest rates for the next two years.  The economy is in the tank, and the Fed admitted it is guaranteed to stay there.   (more…)