Greg Hunter’s USAWatchdeog.com

I have been telling you the economy is not in any kind of real recovery for more than a year.  Sources I have been quoting have been proven right, and all the economic cheerleaders dead wrong.  Reuters reported yesterday, “Data showing a double-dip in home prices, pessimistic consumers and a slowdown in regional manufacturing raised concerns on Tuesday that the economy’s soft patch could become protracted.” (more…)

By Greg Hunter’s USAWatchdog.com

New inflation figures were released by the government last week, and the news was not good.  The headline inflation number was 3.2% in the 12 months that ended in April.  That is more than a percent above the Federal Reserve’s “target” rate of 2% and the first time it has been more than 3% in over 2 ½ years.  Of course, the accounting gimmicks used by the Bureau of Labor Statistics (BLS) understate true inflation, so things look better than reality. (more…)

By Greg Hunter’s USAWatchdog.com

Last Friday, I wrote a piece called “Could America be Pushed over the Economic Edge?” It was about how Libya, Japan or even covert economic warfare (from America’s enemies) could push the U.S. into another financial meltdown.  I received a one sentence email from my friend Jim Sinclair that said, “We are way over the edge right now.” His message gave me a sinking feeling. (more…)

What is going on in the Middle East is breathtaking and frightening at the same time.  The unrest and outright middle east revolution is not going to be a pathway to peace and prosperity.   Libya is sliding into a bloody civil war.  The military is in control of Egypt.  Riots and protests are intensifying in other countries in the region.  Meanwhile, the price of oil is spiking because of fears of supply disruption. (more…)

By Greg Hunter’s USAWatchdog.com

Barack Obama addressed the country for the third State of the Union address of his Presidency this week.  In broad terms, he talked mostly about innovation, education and jobs.  To be fair, he also briefly touched on the deficit, the two wars we are fighting and unity.  But because so much emphasis was put on education, it sounded more like an address to a local PTA (more…)

One of the headlines in yesterday’s USA Today read, “Foreclosures take biggest dive in years in November.” That would make you think things are getting better in the rent vs. buy arena. When you read the story, you realize things are just taking a breather and about ready to get worse.  Why does the mainstream media feel it has to spin stories to make the economy look better than reality?  I think this is a blatantly dishonest headline.  Why do I say that? (more…)

By Greg Hunter’s USAWatchdog.com  

I was on the nation-wide radio show, Coast to Coast AM, for 3 hours early Monday morning.  Ian Punnett filled in for the regular host, George Noory.  Punnett is a pro, and he guided me through many subjects I have been writing about for the past several weeks on USAWatchdog.com.  I write about the economy, politics and the mainstream media the most, and we covered them all in my interview.  The comments and emails in the last 24 hours have been massive and daunting.  (more…)

By Greg Hunter’s USAWatchdog.com

What is happening in the economy is signaling enormous changes for the U.S. and the world.  The scale of what the Federal Reserve is doing is unparalleled in human history.  No country has ever produced so much money and so much debt in such a short amount of time.   The Fed has embarked on another round of money printing (Quantitative Easing or QE2).  (more…)

The piece you are about to read is from our friend, Ellen Brown.  Her posts are on the long side, but heavy on detail and fact.  This is what I love about her—she backs up her work.  This piece is a great addendum to the post I did Monday called “The Fed’s Biggest Fear.” Their biggest fear is, also, the biggest financial problem facing America.  It is the mortgage mess and the layers of fraud, taxpayer rip-offs and the extremely leveraged banks.  (more…)

By Greg Hunter’s USAWatchdog.com 

I was dumbfounded by the headline “Recession Ended in June 2009” that came out earlier this week.  The National Bureau of Economic Research (NBER), which is a panel of academic economists, called an end to the longest recession since WWII.  (more…)

By Greg Hunter’s

USAWatchdog.com

 A little more than two months ago, banking analyst Meredith Whitney said on CNBC, “Unequivocally, I see a double-dip in housing.  There’s no doubt about it . . . prices are going down again.” I’d say unequivocally she was spot on.  A few of the hellish headlines dragging the economy down include: Existing home sales dropped 27.2 percent from June. That is a record drop and a 15 year low.  One in ten mortgage holders in America face foreclosure, according to a new report by the Mortgage Bankers Association.   U.S. home prices fell 1.6 percent in the second quarter from a year earlier as record foreclosures added to the inventory of properties for sale.    (more…)

By Greg Hunter’s

USAWatchdog.com   

There is hardly a day goes by I don’t hear some spin about the economy and how the so-called “recovery” is progressing.  Last week’s job numbers is a classic example.  It seems the jobless claims fell to an eight week low.  (more…)

By Brian Sussman

Guest Writer for Greg Hunter’s USAWatchdog.com   

(Mr. Sussman is a Radio Host in San Francisco, CA and has recently released an new book called “Climategate.”)

In recent weeks while addressing Tea Party rallies here on the left coast, I ask the assembled patriots what appears to be an odd question: “Would all those from the former Soviet Union please raise your hands?”  A notable number of hands are always raised — the San Francisco Bay Area is home to a diverse population.  I then ask another curious question: “What does April 22 signify to you?”  Without exception, someone will shout with great displeasure, “Lenin’s birth date!”   (more…)

By Gene Tunney

Guest Writer for Greg Hunter’s USAWatchdog.com  

“Pay no attention to that man behind the curtain” is one of my favorite literary quotes. Today I have a vision of Obama and Congress, in place of the Wizard of Oz, telling the American people to please ignore the economy, unemployment and forget about what the Federal Reserve is doing in secret.

The “Wizard(s)” tell us we need to focus on health care. The government will take care of the people of America as we are too stupid to know what is good for us. After all, our politicians would NEVER put their petty self-interests ahead of the people.  When they do, it’s our fault!   We fail to vote the corrupt bastards out even in the face of overwhelming evidence. We fail to vote on the issues that need to be fixed now such as the economy, unemployment, Social Security and Medicare.  Global Warming is not an immediate issue.  Let’s concentrate on something that will impact all Americans in the next ten years instead of something that MAY happen in one hundred years.

If we ignore the economy and the extreme deficit spending, we are ignoring “that man behind the curtain.”   While ignoring these issues is easy, they increase in severity. If we keep our proverbial heads in the sand for much longer, we risk oblivion and we will deserve what we get. The American public holds as much of blame as the politicians. The politicians that want to do the right thing and propose legislation to fix the economy, Social Security or Medicare programs are crucified, while the politicians pushing the USA toward a “financial Armageddon” are rewarded with re-election.  Does anyone think that we elect and are governed by the best and the brightest? It is sad that most Americans are willing to trade a little comfort now at the expense of our children’s and their children’s future.

In my youth, I envisioned most of the American people as sheep being lead to slaughter by evil politicians. Imagine my surprise upon the epiphany that most of us are lemmings.  We eagerly follow our leaders off the cliff at a dead run and, when we get close enough to see our peril, we cannot stop because of selfish momentum. The entire country sees the precipice yet, almost unanimously, we continue our run toward it.

Our currency and our government Treasury bonds might someday end up worthless.  I hear you.  “What do you mean the U.S. dollar and U.S. government bonds might be worthless?  How can that be?  Everybody knows that U.S. Treasuries are a safe investment.” The answer is simple. We owe more now than we can ever repay, yet we continue to print and spend money.  Total obligations for the U.S. according to USA Today are “a record 63.8 trillion dollars.”  If the U.S. was audited like a public company, we would have been forced into bankruptcy by our creditors’ years ago.

Even using the pie in the sky revenue projections of the Obama administration we show a significant shortfall. That’s before you factor in another TRILLION or TWO for the proposed healthcare legislation.

We need decisive action now on the economy, spending, Social Security, and Medicare. We DO NOT NEED universal healthcare, the carbon tax and any increase in deficit spending. We need to elect Statesmen, not politicians.  And most of all, we need a public that cares about the future of the country and its children instead of the newest trinket or bobble that the current politicians toss them. We should have acted twenty years ago. We are so close to the edge that I can see fellow lemmings topple over the cliff.  I know if you look closely, you can see them falling too.

I am angling toward the edge of the herd, taking steps to protect my assets and the future of my wife and children.  Please turn away from the precipice and run toward a solvent nation, responsible government and personal freedom. Fellow lemmings, remember that when you run off that cliff, you carry your children and their future with you. Act now or continue to ignore “that man behind the curtain!”