Weekly News Wrap-Up 1.25.13
By Greg Hunter’s USAWatchdog.com
Debt and guns are really the only two topics in Washington D.C. this week. The House of Representatives passed a bill that will suspend the debt ceiling until mid-May. It’s has a cute little clause called “No Budget No Pay,” but I think that’s just a side show gimmick. The real deal is the Republicans are throwing a political hot potato over to Harry Reid and the Democrats in the Senate. They are basically saying okay, your turn to come up with a budget, the debt ceiling is off the table for now. I also think there are some in both parties that know all too well how serious the economic situation really is. According to John Williams at Shadowstats.com, this is Congress’ last chance to fix the budget problems. If nothing is done-again, Williams is predicting some serious negative fallout for the dollar and U.S. markets. I’ll have an in-depth interview on Monday with him. You will not want to miss this.
Senator Diane Feinstein unveiled a new assault weapons ban. She wants to make dozens of guns illegal. It will never get through Congress, but isn’t the timing odd? The economy is teetering on the precipice of another meltdown, and she wants to take guns away from law abiding citizens. Meanwhile, zero legislation on the state of mental health in this country. Zero investigation on all of these psychotropic drugs pharmaceutical companies are handing out like cough drops, and zero prosecutions on big bankers that have committed trillions of dollars in fraud and crime against the American people. This is a crime spree that is unprecedented in U.S. history. Senator Feinstein should be spending her time trying to figure out a budget and raising a stink about crooked bankers getting off with massive crime. They illegally kicked millions of people out of their homes!!! The President did nominate a former prosecutor to head up the SEC, Mary Jo White. Watch the Republicans and Democrats put up a stink over this nomination.
The Saint Louis Fed has just anointed the latest so-called “recovery” the weakest in history. If you have been watching and reading this channel, it should be no surprise. I’ve been saying that since I’ve been on the internet. Mind you, this is with massive deficit spending and massive Fed money printing, and all we have is a “weakest recovery in history.” This should scare the heck out of everybody. There is no real recovery.
As a side note, look at Apple stock yesterday. It got killed down more than $60 in a single day. My friend, Gregory Mannarino (a former Bear Stearns floor trader), says what’s been going on in the last few years is nothing more than a giant pump and dump. He is calling for more heavy selling and shorting of the market by Wall Street. Why invest for 20 years to make money when you can short the market and make a fortune in 20 days? Look out below for all of you “long term” investors. Join Greg Hunter as he gives his analysis of 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.
The headline in Salzburg Austria is “Billions lost in blind flight of the Land into disaster, it seems some burocrat lost billions of the public money investing in AAA derivatives. They call it the greatest debt crisis since 1945 and the fall of the Third Reich.
Johann,
Thank you for your comment and Headline!!!
Greg
Johann: Do you have a like to share. Sounds like something we would never hear in the main stream media
Just think what the people of America could do if your News, and ‘Real’ Journalists like you, was available on prime time TV. Thank you once again Greg for being a voice in the wilderness.
Mike Preslar,
I am happy you are hearing it and I thank you for your kind words and support.
Greg
Great wrap up Greg. Prediction time: I look for a H.A.A.R.P. activated earthquake, hurricane, or some other major event caused by haarp in the next 2 weeks. All criminals have a pattern/schedule they follow. To catch a criminal good cops use a calendar. Love this site.
Thank you JC Davis for your support!
Greg
We can always count on you, Greg, to hit us with the truth, no matter how hard it is to take. This was your best of all, and they are all excellent.
I enjoy immensely reading everyone’s comments.
You have so many knowledgeable people adding insight.
Great place to come for honest insight what’s happening and what’s coming.
I am eagerly looking forward now to Monday’s interview.
Rebecca,
Thank you for your kind words and most importantly for your support!!
Greg
Greg: the gun control issue is merely one of many distractions to deflect from the dark cloud hanging over the global economy. What is amazing is the total disconnect between propaganda (or disinformation) and reality.
1a. According to all MSM financial sources, the Eurozone is fixed; nothing to worry about. The reality is that the Euro is on life support and will soon flatline.
1b. Japan is a basket case and the unreported radiation levels may require a total evacuation within a decade. And, this country cannot exist economically without a trade surplus, and now that is disappearing. Methinks that the economic implosion of Japan will be the tipping domino.
2. US Housing is in a recovery, although many sales are to investors. The reality is that the organic first time buyer necessary for any sustained recovery is no where to be found in sufficient quantity and will cease to exist as the burdens of student debt enslavement and part time only employment totally deny any possible mortgage approvals.
3. The latest jobs report is laughable, as 360,000 formerly employed just miraculously disappeared (abducted by aliens?). Naturally, the stock market ramped, totally oblivious to real fundamentals such as margin compression and a declining income customer base for all things retail and/or discretionary.
Just a few examples of the disconnect; there are many more.
Andy B,
Thank you for adding your perspective and analysis to this post!
Greg
Greg, 2013 is shaping up to be just like everyone in alternate media predicted, nothing fixed, no real solutions, and focusing on side items such as guns & and women in the military instead of the 800 pound gorilla in the room (economy/debt).
As to “pump & dump” almost the highest market of all times with this economy, what planet is Wall Street living on? Of course its going over another bubble cliff soon, just as soon as they start the “dump”. But beware the cliff Wall Street, sometimes you can’t control the dive.
One more rant Greg, the universal background checks both side of Congress is favoring as well as the NRA is a disguise to learn everything about you as well as hold the application up to infinity. I would like to see what’s entailed in the checks. You do know whats coming don’t you, mental health check prior to approval, just wait and see. No problem one might ask, we shall see who can pass on of those if they are bent in favor of denial. Every time another shooting incident happens the noose tightens on the Second Amendment until its of no protection.
Art Barns,
it’s not a “rant” if it makes sense and you make perfect sense!!!
Greg
The inaugural festivities were, in my opinion, incredibly inappropriate in a time of much misery in our country; there are millions who still suffer without work, wonder where their next rent/mortgage payment is coming from, and whose lives have been devastated by the second great depression.
If Obama and his party-goers had been smart, they would have scaled back (in a large way) the show of pomp and coronation and saved the American taxpayers gobs of loot in the process!
Having a super-star, like Beyonce, show up in an expensive designer gown and wearing 1.8 million dollar emerald earrings is just “sticking it to” the poor and under served in our nation.
Obama (& Co.) should have been more sensitive to our times and taken the high-road to simplicity for his final inauguration. He (and his cohorts) could have had a perfectly elegant time with a simple ceremony and dinner.
This event, coupled with his reported $7 million dollar Hawaiian holiday (what happened to Camp David? I’m sure it is lovely there and wouldn’t have cost the taxpayers mega-bucks for his relaxation), has put us in further unnecessary debt.
I almost feel like we are living in the era of Henry VIII; let the peasants starve while we feast.
Samantha,
many will starve and I hope I am wrong. Thank you for your comment.
Greg
Havent u noticed hes an a-hole?? U thougt he was going to scale it back?? I’m honestly surprised this man did not have Michael Jackson dug up from the dead to have him perform. rest in peace Michael
Greg,
One day I’d be nice to read something uplifting. Nonetheless, I find myself reading more of usawatchdog.com and sites like this. I find they put things together in a way which doesn’t happen in the MSM. I used to think I was kooky for feeling like somewhere there is about 5 or 6 people that secretly control how things really work, but now I don’t feel as kooky.
You are not kooky or irrational or a conspiracy nut just for raising the issues as questions. They are not being answered elsewhere. For example, we keep hearing how low inflation is officially, and yes, the price of gold recently hasn’t been doing well. Still, every real person who actually shops for food and energy or almost anything else knows the inflation rate is much higher than offically reported. I can’t explain the gold prices recently, but you and your guests point out what the MSM doesn’t have the courage or sense of responsibility to humanity that you do on this matter. I compliment you for the service you do.
Having said all that, this is what I’d like to know from your guests:
* How do you valuate the price of gold? (This is not to doubt their predictions, but I’d like to know myself)
* When will this crash happen?
* I, and many others, have a lot of debt. Can we still protect ourselves also?
Thanks,
Ben
Ben,
I valuate gold this way: Gold is wealth with zero counter-party risk. You should not measure it in dollars but in the amount of ounces you own. As to when? Please watch Monday’s interview with John Williams. I can say only one thing this is NOT a problem for the “kids” and “grand kids.” That’s 80’s and 90’s talk. The problems we face are in the very near future. As far as protection, The time to do that is running out quickly, but I say buy as much physical silver as you can. If you cannot afford that at least buy storable food. Not because there will not be any but because it will never be cheaper. Never give up. You are not alone.
Greg
Gun control just looks like a list of Department heads and State people , looking for more government spending programs.
HOURS OF reporting by MSM of some collage football kid who lost a girl friend , who never was. Crazyyyyyyyyyyyyyyyyyye
Keep digging and telling the truth Greg. The greater the threat the govermant becomes to the Constitution the greater the threat the Constitution becomes to the Goverment.
Thank you Keith. Good words!
Greg
Hey Greg,
Time has proven that giving anything in concession to the Liberals has been worthless: they immediately forget and demand more. The House of Representatives should stand pat on a firm agenda and demands which result in Administrative compliance. (Ha.)
150 assault weapons? Really!?!?? I didn’t think there were that many out there. I think the Democrats won’t be happy until they make criminals out of most Americans. And, like you said – it’s the timing.
And as for White as prosecutor – it’s coercion. Once on the Team – targets are cherry-picked for under-the-bus tactics and all the window dressing the Administration needs for PR.
Finally, I took all equity out of a life insurance policy (paid-up and fully self-sustaining) because I believe the meltdown will take even these companies down. Or if they would survive – what will the Dollar be worth to my widow in a few years??? Hidden Occult symbols are incorporated in the Poker playing cards deck – so much so, that it can be used for Fortune-telling (the Minor Arcana of the Tarot). This was done because they knew that human vice would never die; thus perpetuating and propagating such esoteric symbology. Similarly, fallen human nature can be relied upon to cripple or destroy all the good that hard-won responsible labors have achieved in America. It is a total shame.
Charles H.
Hate to tell you this but there is plenty of sin to spread around to BOTH parties. Republicans voted for the NDAA. It could not have passed the House without their support. I am not scolding you and I appreciate your support and comment. I actually agree with you on the gun and others you mentioned in your comment. Thank you for weighing in.
Greg
Mahalo Greg!
Thanks for checking in Troy.
Greg
Hi Greg
Great week reporting and looking forward to Shadow Stats.If possible ,Marc Faber would be a nice guest to have.Keep up the good work
Thanks Dave
Thank you Dave,
I am trying to get Dr. Faber. Good idea.
Greg
And “all is well” – http://www.foxnews.com/world/2013/01/25/european-banks-to-repay-early-183-billion-huge-ecb-3-year-emergency-loans/
This is fast becoming wildly distorted – Fed picks up another $35 BIllion… chump change – http://www.ny.frb.org/markets/soma/sysopen_accholdings.html
Greg;
There is no question of “if” there will be a global economic collapse; it is only a matter of “when.” I can hardly believe they have held it together for this long… but there are now signs everywhere that this ponzi scheme bubble is leaking all over. I know John Williams is predicting hyperinflation by 2014; I read an article the other day where Jim Rickards is predicting hyperinflation starting by the middle of THIS YEAR…L pray that, along with the suffering that will occur; there will be many acts of compassion in the coming collapse.
Thanks for speaking the truth in a world of deceit,
Jessica
Thank you Jessica for your comment and support.
Greg
Hi Greg: Another fine wrap-up. Have a good weekend and remember the three golden rules:
1. He who has the gold makes the rules,
2. If you don’t hold it, you don’t own it.
3. If you allow someone else to hold it they will
do whatever the hell they please with it.
Let’s see if Germany ever gets their gold back from the USA or France. I hope you and all other commentators never let this story go away. The MSM would love to see it just disappear. Don’t let it.
John in Philadelphia
Thank you John in Philadelphia. Good rules!!
Greg
Hi Greg,
I just wanted to say I agree with EVERYTHING you said in this video. However, what do you think is going on in the stock market? The market is now rallying everyday, and the DOW is ready to take out all time highs of 2007 very soon. I now have lots of people laughing at my face on another more mainstream forum I post on frequently because of it. Everyone on there say that the recovery has now really taken hold. I feel I live in two alternate worlds anymore. As always, keep up the good work, but honestly I am genuinely confused at this point.
Brent,
A few statistics. We have record numbers of Americans on food stamps nearly 48 million. That’s almost 1 in 6. The Fed is printing $85 billion a month to prop up the banks and the U.S. government. It is “open-ended.” Interest rates are set to near 0% for a key rate through mid-2015. Accounting rules have been suspended for mark to market assets since 2009. Although housing is up recently it is still off nearly 70% from its peak. Part of the $85 billion a month is for the express purpose of suppressing interest rates. (30-year mortgages are less that 3.5%) What happens to the economy if and when the Fed cannot or will not suppress interest rates and that rise to a modest 7%? Yes, the stock market is up, but only because of all the money printing (QE,QE2, Operation Twist and QE to infinity.) What happens when the money printing stops? What happens to the dollar if it doesn’t? Did you see what happened to Apple stock in the last 2 days?–down more than $70. More selling to come when the “dump” part of the “pump and dump” kicks into high gear. Are You watching what is happening to this debt ceiling crisis? Nearly $17 trillion deficit and they cannot cut. The annual real deficit was nearly $7 trillion in 2012 according to John Williams NOT $1.1 trillion. It was $5 trillion in 10 and 11 (see USA Today for back up.) Ever seen that before? Your friends are living in a fantasy world. They are going to be getting a frying pan of hot grease in the face for a wake up call. They will be crushed with the skillet as well! It is a math problem, and the math adds up to a very bad picture.
Greg, you rock!! I wish I could debate those fools on that forum like you could. I listen to Alex Jones daily, but even he has not mentioned the huge bullish market on the stocks. Thanks again my friend for the good information.
Thank you Brent for your support and kind words.
Greg
We are basically done. I really don’t know what to do other than keep working and paying bills and taxes. I am trying to prepare, but it is hard when your spouse and others just don’t see the urgent need. I will get ready in 2013 both on food and finances. This might seem extreme to my family, but they will realize the dire straights not too far from now.
Ugly,
Do not waver. Your family will need you. Lead.
Greg
Greg, big cheers for what you put up.
Nothing I look forward to more than your Friday News Wrap Ups!
Thanks for the efforts, and all the great people you get in the show.
Many regards from across the Pond
Cheers
Thank you Alexander. It usually take me between 4 to 6 hours to put together one of the “Wrap-Ups.” It’s nice you appreciate it!!!
Greg
Great report Greg
Smoke and mirrors all around us. More than ever before. I guess we shouldn’t expect much more from a system measuring social health using factors like “gross domestic product, consumer price index, stock market levels, economic growth, employment and globalization”. I just have to wonder where we would be if social health was measured using disease rates, poverty levels, wars, resource waste, crime rates, literacy and legal and illegal drug use. A man can dream, can’t he?
My father supported a family of 6 in 1953 as a flight test photographer’s assistant. Since there has been a steady downgrade to our standard of living in this country which if continued can only end with consuming slaves and these will be the lucky ones.
Thank you Jim H for the comment and for sharing your perspective.
Greg
**
Under this loosened “MACT” rule, industry will get to triple the hydrogen chloride and triple the particulate filth they may dump into the air. The White House crows that Obama’s bending over on this rule will save corporate polluters $1.5 billion (£945 million) a year. Yippee!
Last year, the White House proudly posted the statement of EPA’s Administrator Lisa Jackson that her proposed boiler pollution rules would help “prevent 17,000 premature deaths [and] 120,000 cases of childhood asthma symptoms.”
Then, last month, the White House posted the REVISED EPA death count. The weakened boiler rule will now, “avoid up to 8,100 premature deaths and 52,000 asthma attacks.”
Do the arithmetic. Obama’s climb-down on the rules will kill at least 8,900 people, and permit at least 68,000 asthma attacks compared to the original rule.
The deadly assault on unarmed Americans followed an Executive Order issued by Obama, after lobbyists stormed the White House, to cut costs to lung-choker industries.
If children die from gunfire, Obama has tears for TV. But if your child suffocates in industrial goo, neither Obama nor the news give a flying fart if your kid chokes or croaks.
So, rather than take away assault rifles, we’d save far more children by taking away the President’s easy access to executive orders.
And the Republicans? Obama killing 9,000 more asthmatics annually is just not enough for them. So, to placate these GOP industry stooges, Obama threw them the severed head of his EPA chief, Lisa Jackson, pushing her to resign.
Here’s a real life-saving proposal: Rather than spy on gun buyers, the FBI should do background checks on Congressmen – and if they have a history of taking donations from polluters, ban them from voting on life-and-death laws**
http://www.gregpalast.com/assault-gun-ban-weapon-of-mass-distraction/
There’s more on that site.
** AndyB says:
January 25, 2013 at 9:56 am
Greg: the gun control issue is merely one of many distractions to deflect from the dark cloud hanging over the global economy. What is amazing is the total disconnect between propaganda (or disinformation) and reality.
**
3. The latest jobs report is laughable, as 360,000 formerly employed just miraculously disappeared (abducted by aliens?). **
Greg,
I wish we could get someone like John Williams to take a real look at the demographic stats.
I want to know if the US population is really growing or getting smaller as I suspect.
As Andy points out above another 360000 people fell off the planet.
One way to check the data is to find out how many coffins are being sold, how many funerals & cremations are being performed.
I suspect the real death count in the US is currently 4 to 6 million a year so that the Fascist Wallst/London Banks/Insurance can kill off the Retirement Plans promised to the Baby-boomers, but those plans have already been looted using Derivative scams & there’s nothing left in them.
Greg,
You are right! Senator Diane Feinstein, as well as all the Congressional members, should really spend their time on more important issues. According to Gallup Polls (Jan. 7-10, 2013), the percentage of Americans think the most important problems facing this country are:
Economy in general – 21%
Federal budget deficit/Federal debt – 20%
Dissatisfaction with government – 18%
Unemployment/Jobs – 16%
Lack of money – 5%
Taxes – 4%
Healthcare – 4%
Ethics/Moral/Religious decline – 4%
Guns/Gun control – 4%
…
http://www.gallup.com/poll/1675/most-important-problem.aspx
Economy is our number one concern! Remember one of the famous quotes said in the 2012 presidential election: “It is all about the economy, stupid!” Yet other issues like gun control, as well as the endless problems with gay rights, abortion and terrorism, are dividing the country and let the politicians get away from urgent economic questions.
You said, “Why invest for 20 years to make money when you can short the market and make a fortune in 20 days?” That is one of the reasons why American manufacturing is declining. Why invest in a factory and worry about capitols, labor, taxes, production, sales, and many other problems when you can gamble in Wall Street fast and furious for a quick fortune (or misfortune for many)?
Last week PBS Frontline 2013 “The Untouchables” reminds us that the Wall Street crooks are still on the loose and how incompetent (and reluctant) the Justice Department wants to pursue prosecutions criminals. If journalists can find more evidences and talk to more whistleblowers than the Justice Department, don’t you think it is very disturbing and suspicious? (http://www.pbs.org/wgbh/pages/frontline/untouchables/)
Shortly after the Frontline special report aired, Lanny Breuer, the DOJ Criminal Division Chief who headed up the investigation of the banks and mortgage companies, announced his plans to leave his DOJ job. (http://www.washingtonpost.com/business/economy/doj-criminal-division-chief-stepping-down/2013/01/23/e4331e32-64e0-11e2-b84d-21c7b65985ee_story.html)
In the Frontline interview, Breuer was more concerned about the financial health of the big banks (if any banker is prosecuted) than doing his job to pursue justice and prosecute the criminals. In Wall Street, bigger is not just better, bigger is untouchable!
Ambrose
Ambrose,
Love this closing quote. “In Wall Street, bigger is not just better, bigger is untouchable!” Thank you for the comment and links to back it up!!!!
Greg
Greg, hopefully I get to see people like you every night on TV and actually talking about something useful and right.
Also the last comment, bigger is untouchable. Just look at the smoking industry and you can already understand.