Weekly News Wrap-Up 12.14.12
By Greg Hunter’s USAWatchdog.com
The Fed made it official, this week, with continuation of money printing to infinity. The Federal Reserve is now engaged in $85 billion a month in pure QE. It is continuing to buy the sour mortgaged-backed securities at a rate of $40 billion a month from the big banks, and it is now directly buying $45 billion a month of U.S. government debt. The Fed says it is to spur employment, but my sources say it’s propping up the banks and the government at the expense of the dollar.
The so-called “Fiscal Cliff” of tax increases and spending cuts are staring us all in the face. The President says “one way or another, taxes are going up.” He thinks the GOP will fold and give him higher rates, but I would not be so sure. Why doesn’t either party talk about this ongoing banker bailout the Fed is conducting? We could save a lot of money there couldn’t we? The best we could hope for is a can kick into next year. I just do not see a grand deal by December 31st.
What I do see are plenty of employers cutting people back to less than 30 hours a week and laying off people to avoid the requirements of Obama Care. Look for unemployment to spike next year. The only reason why it’s going down in the official government numbers is because hundreds of thousands are no longer counted in the work force every year.
Syria fighting continues with no peace in sight. The two sides are not even talking—just killing each other. More than 40,000 Syrians have died in the civil war. Russia is arming the Assad government, and the U.S. is arming the rebels. The rebels have clear links to al-Qaeda and folks in the U.S. are starting to wake up. Some people want the funding to the rebels cut off, but that is not likely to happen. President Obama granted recognition to the rebels. Of course, you will not hear much about the al-Qaeda/rebel link on the MSM.
Finally, you are not hearing about the drought conditions, but there is still a severe drought going on in much of the country—especially the Midwest. The winter wheat crop is suffering, and the Mississippi River is so low barge traffic is threatened. This is a big deal because it looks like the drought is going to continue into 2013. Look for food prices to continue to go up—dramatically.
Join Greg Hunter as he gives his analysis of these stories and more in the Weekly News Wrap-Up.
I always look forward to your weekly wrap up Greg! The drought is horrible. Texas is doing a little better than last year, but, we’re slowly slipping back to where we were. Personally, I think a drought is the worst kind of weather there is. And I agree, food prices are going to skyrocket.
As far as the fiscal cliff issue, I wonder if it isn’t being hyped up so that when people are worried about going off the cliff, they will welcome the cuts to whatever programs they decide to cut (Medicare, Medicaid, SSI, food stamps, etc…). But, no talk about ending our perpetual wars.
Have a great weekend Greg! Thanks for your insight. Loved the farm you were at. Very peaceful looking place. I’d want to be there when all of this comes crashing down.
The overall situation just keeps getting worse with no end in sight….it’s very depressing. I feel as though we are on the same glide path as Greece X 100.
I used to talk to friends about what kind of bad times our kids will likely see and experience in the future, but now I feel that the bleak future we all predicted for them has fast forwarded to the present. It looks like we are all going to experience hell on earth together.
When it all comes crashing down, I’m just not sure what to expect. The populace in this country seems acutely in denial of true facts and reality. That is a recipe for big trouble.
The bailout money system has been going on before 2009. We just didn’t hear about it. Inflation, cheap money for the banks it’s just out in the open now. Then companies like GE and Boeing get fat government open ended, no bid contracts more buckets of money.
The money planers could pull it off. 2% inflation,higher taxes, Pentagon cuts and home grown energy.
Were are you going to move to find a better environment. Seattle is building and improving. Maybe the Seattle planers are trying to slow the growth down with a little weed time.
I wish it was this good in the 70s when I was getting started.
Ya it might all go to hell, but it might just creep along and improve and fall back and creep again.
People need things and that’s the market place. not some old World Banking Family trying to control the money flow.
The big banks can fail now, all the people need is a simple serves bank. The banks seem to owe each other,let them figure it out. The pension funds that are worth two cents have got out of the financials by now.
If I was governor of Washington state I would start a state bank and have very good open banking with Asia. Be the first Brick state.
As long as stock prices keep moving higher I don’t really think Uncle Ben cares about the employment numbers. Little Timmy Geithner was slick enough to see the constant money pump isn’t woring anymore as each new round of stimulus now creates a high (this time a lower high) that the market can begin selling off from. Maybe there really is no other solution than to send Uncle Ben on a parade thru the streets of Dallas, Tx with the top down on his limo, Greg 😉
“Russia is arming the Assad government, and the U.S. is arming the rebels.”
The fundamental problem here is that these arms from Russia and the U.S. are being financed by the same folks. Always has been, always will be. Why? Simply because it’s so profitable to the bullies with means. Ordinary good folks have no idea what’s being done in their name.
Thank you Greg! Keep it up man. I appreciate all the updates.
Our government will never relent. They know it’s over and are racing to plug holes in the dam. The whole thing is a farce and will in short time implode. They fear the masses will find them out–the shear out right theft of everything. The mafia must look with amazement at how clever they have been. But the cement shoes are going to fit everybody as the crooks steal our entire lives from us right before our eyes. When the time is right, very soon now, the American people are going to awaken from this deep slumber and all hell will break loose. They will want not just a pound of flesh—but deep red blood————
The ponzi must be continually FED (LMAO)how ironic FED and fed …. The FED has been diluting the American dollar since their inception why would it change policy now? Thomas Jefferson was right that the citizens of this country will end up poor because of a central bank …. The wealthy have been transferring wealth from the people by using inflation .. look at government programs tied to inflation and the answer is obvious ….. The FED is screwing every American with inflation and people don’t realize it.
If the government is keep phone and email records then investigating the FED should be easy but those who control the gold make the rules….
folks in the U.S. are starting to wake up.
It is about time. They have a lot to wake up to.
Have you ever noticed when Michel Moore/Bloomberg & CNN’s Pezhead Morgan speak out about taking away another American’s “Right” that another senseless shooting follows shortly afterwards?
One idea as a “Liberal, Ron Paul/Libertarian leaning American” I can think of is to exile that type of American hating trash to somewhere like North Korea or Saudi Arabia.
Notice that there’s always football, schools & churches close by where those mass shooting & child rapes occur.
In almost every case of mass shootings, child rapes & DUI wrecks there is a MickyD’s & a Walmart near by & old bags & wrappers laying about the area.
Connecticut, isn’t that one of those 50 states in which their citizens make their living off Military Industrial Complex, Prison/Drugwar Industrial complex & the Medical/Doctor/Big Pharm/bio-tech’s GMOs industrial complex & that their Senators/Congress people support the deaths of millions with never ending wars against all of us people of the world?
Yes, the recent shooting is another tragic event just like another tragic car wreck.
But keep in mind the larger picture, the Jap/GE nuke plants disaster is still leaking radiation on us all, ( Lung/Colon cancers for millions), & the gov/BP’s oil well is still out of control leaking in the Gulf of Mexico to name a few ongoing government/corporate caused disasters such as this ongoing Wallst/London financial collapse.
Hey, I got an idea, maybe we could get together to ” form a more perfect “Union” & vote to elect intellectually honest people who really represent “We the People’s” interest & fix this phk’ed up mess!
LOL;) Aw, never mind, the wife wants me to clean the toilets this afternoon.
Appreciate your views on Coast to Coast AM radio, but you MUST understand better the big banks addiction; having destroyed our economy 5 years ago they still try to continue the derivatives trading that an addict in denial would repeat. Which of course requires re-funding every 2 months or so, thus the Feds QE policy keeps everyone (on Wall Street) happy and calm. None of the new money ever seems to trickle down to the ordinary guy for an ordinary loan. The Idiots of Congress merely comply with whatever the in crowd suggests and we are stuck with the sorry results for the next decade. The bigger the disaster, the better the Dems like it.
Greg, Rice out for proposed Secretary of State is big political story out yesterday. Why does Kerry want that job one might ask? He old, well established in Senate, and rich do to his present wife, and is campaigning for the job. Time will tell, but the old double for Kennedy has a plan in mind, you can bet on that. As to the FED printing on to infinity It doesn’t care about our jobs, if it did it would have warned and been vocal about jobs going overseas for the last 40 years. Hell, a blind man could see the result of the offshore jobs exodus. At first is was just blue collar, now its professional. A hospital in the area emails its e-rays to India for an Indian doctor to review and send back the report, a $300,000 doctor is not staffed any longer, which means that doctor who once had the job can’t spend that money around here. Now one can see that its not just blue collar going to Asia and Asia minor any longer.
Another side issue of the week is that many well known conservatives such as Mark Levin is calling for a new speaker. That pressure on the Speaker cannot help but stall an agreement. The speaker was just about to cave in and was outwardly hinting at it last week when the tide turned against him and he squared back again. Probably will be some kind of can kicking deal.
Lastly Greg, you are right in your belief that many employers are going to go part time to avoid the 30 hour rules of Obama Care, and, unemployment is going north on the graph. Next year I predict will not be pretty for America. Thank you for your website, your work, your brave reporting, and your insight, its refreshing to read real no-spin.