What is going to happen when the greatest economic bubble in the history of the world pops? The mainstream media never talks about that. They are much too busy covering the latest dogfights in Washington and what Justin Bieber has been up to. And most Americans seem to think that if the Dow keeps setting new all-time highs that everything must be okay. Sadly, that is not the case at all. Right now, the U.S. economy is exhibiting all of the classic symptoms of a bubble economy. You can see this when you step back and take a longer-term view of things. Over the past decade, we have added more than 10 trillion dollars to the national debt. But most Americans have shown very little concern as the balance on our national credit card has soared from 6 trillion dollars to nearly 17 trillion dollars. Meanwhile, Wall Street has been transformed into the biggest casino on the planet, and much of the new money that the Federal Reserve has been recklessly printing up has gone into stocks. But the Dow does not keep setting new records because the underlying economic fundamentals are good. Rather, the reckless euphoria that we are seeing in the financial markets right now reminds me very much of 1929. Margin debt is absolutely soaring, and every time that happens a crash rapidly follows. But this time when a crash happens it could very well be unlike anything that we have ever seen before. The top 25 U.S. banks have more than 212 trillion dollars of exposure to derivatives combined, and when that house of cards comes crashing down there is no way that anyone will be able to prop it back up. After all, U.S. GDP for an entire year is only a bit more than 15 trillion dollars.
Barack Obama is not the only one feeling the heat from a series of recent scandals.
Apparently, news media generally sympathetic to the president’s agenda are plunging as well.
According to Deadline.com, “after double-digit gains during last year’s presidential election, May 13-17 saw the progressive-aligned [MSNBC] hit new lows as the IRS scandal erupted and revelations that the Justice Department secretly obtained AP records became public.”
MSNBC recorded its least-watched and lowest-rated total-day results of the year last week, with 350,000 viewers on average and 94,000 in the adults 25-54 demographic.
A US Senate committee had passed a bill that would allow, if signed for the Obama administration to supply arms to Syrian opposition — a move that could threaten the entire region if these weapons end up in terrorist cells operating on the ground.
The Senate Committee on Foreign Relations 15-3 vote showed bipartisan support among US politicians for arming the rebels.
It remains uncertain if the full Senate will vote on the legislation that calls to “provide defense articles, defense services, and military training” directly to the opposition on the ground Syria who “have been properly and fully vetted and share common values and interests with the United States.”
“I don’t think that this resolution, this bill will gain traction in the House of Representatives, and if it does we will have to wait and see if Mr. Obama signs this bill,” historian Gerald Horne told RT.
“They went into our computer servers at Fox News, went around our security, pulled things out and didn’t tell us they’d done so!” – Shepard Smith, Fox News
Just days before President Obama is scheduled to make a major policy speech announcing his legal justification for his use of drones as a means of summary execution, the U.S. has ramped up the remote control war in the Yemeni theater.
In a pre-dawn strike Friday night, May 17, drones piloted by U.S. officials (military or CIA) launched several missiles at a truck traveling on a road north of Ja’ar in the Abyan province of Yemen. At least four and as many as seven people were killed with many others wounded.
An AFP story reports that “the truck was carrying grenades and explosive belts” and that all the ordnance was destroyed by the missiles.
The AFP and other major media accounts of the story also reported that all those killed in the attack were “suspected militants” associated with al-Qaeda in the Arabian Peninsula (AQAP), the local branch of the global terrorist network.
Devastating tornado in Oklahoma begs the question: Why don’t schools and families build tornado shelters anymore?
A mile-wide tornado with 200mph winds tore through the suburbs of Oklahoma yesterday, killing 51 people and broadcasting a rude reminder of the fragility of human life and human civilization. Here at Natural News, our hearts go out to the family members of those killed in the storm, and we hope some lessons can be learned from this that will save other lives in the future.
But wait a second, you can’t stop a tornado, right?
Of course you cant. But you can prepare for a tornado, and here’s where we get into a discussion that the mainstream media won’t dare touch because it’s not “politically correct” to have an intelligent discussion about any of this.
But here’s the question we need to ask if we’re going to save lives: How many of those who were killed in the tornado knew there was a tornado warning in place but did nothing to move to a safe shelter? Obviously this question doesn’t apply to all the children who were killed, as they are not responsible for their own actions. (Their parents are.) But how many adults actually took the tornado warnings seriously and sought adequate shelter?
A majority of Americans have clearly indicated that they believe the IRS intentionally targeted Tea Party groups. In a Washington Post/ABC News poll released Tuesday, 56 percent said they believe increased IRS scrutiny on conservative groups was deliberate, with only 31 percent saying they believed it was an “administrative mistake.”
In addition, 74 percent, described the tactics as inappropriate, with 51 percent saying they feel actions are criminal. Just 20 percent said they felt the IRS actions were appropriate, with 44 percent believing the agency acted within the law.
More Americans also believe that the Obama administration is attempting to cover up the scandal, with 45 percent suggesting that the White House has not disclosed all the facts, compared to 42 percent who say they trust the government on the matter.
The White House claimed this week that they were aware of a Treasury inspector general report into the improper targeting, but that they refrained from notifying the President himself.
BIS and IMF attacks on quantitative easing deeply misguided warn monetarists … Monetarists across the world have warned that the International Monetary Fund and the Bank for International Settlements are making an historic error by calling for a withdrawal of emergency stimulus before the global economy has fully recovered. The BIS warned against “ever more monetary policy activism” to keep the global economy afloat. It called on the US, Britain, Japan, and the eurozone, to restore interest rates to normal levels “sooner rather than later.” – UK Telegraph
Dominant Social Theme: We know what we’re doing but we’re just having a little argument.
Free-Market Analysis: Is this more evidence that monetary policy is merely made up as it goes along? Now we have the spectacle of three of the largest central banks in the world expanding money printing while two of the largest monetary-policy institutions attack those same programs.
What can we make of this? What is stranger is that the BIS is the policy arm of the central banking community and certainly has some oversight. The IMF, too, may be seen as a coordinating body with considerable monetary power. The bosses, in other words, are jawboning their employees.
Weather patterns are becoming increasingly erratic and the ground under our feet is becoming extremely unstable. So precisely what in the world is going on here? Is this the beginning of a trend? Could it be possible that we are entering the worst period for natural disasters in U.S. history? The tornado that just hit the town of Moore, Oklahoma is already being called one of the most destructive tornadoes that America has ever seen. That tornado came almost two years to the day after the deadliest tornado in U.S. history hit Joplin, Missouri. But of course it is not just tornadoes that seem to be getting more powerful. Giant sinkholes are appearing at an unprecedented rate, earthquakes are becoming more frequent and more powerful, 6 of the 10 worst years for wildfires ever recorded in the United States have all come since the year 2000, and the western part of the country is experiencing the worst stretch of drought since the days of the Great Depression. Is all of this just some sort of a giant coincidence? If not, what is causing these changes?
On this past Sunday morning, Chris Wallace of Fox News grilled the administration’s newly anointed flak catcher, White House Senior Adviser Dan Pfeiffer.
One critical question was how Obama spent that long night of Sept. 11, 2012, while his charges were busy dying in Benghazi.
“With all due respect,” asked Wallace, “you didn’t answer my question. What did the president do that night?” This was a good question and one that prompts a careful look at the time line.
At 3:40 p.m. Washington time on Sept. 11, 2012, U.S. ambassador to Libya Chris Stevens in Benghazi called his No. 2 man, Greg Hicks, and told him, “We’re under attack.”
(All times cited will be EDT, six hours earlier than Libyan time).
At 4:05 p.m. the State Department Operations Center issued an alert to all relevant agencies, “U.S. Diplomatic Mission in Benghazi Under Attack.”
At 4:25 p.m. a six-member CIA team headed by Navy SEAL Tyrone Woods arrived at Stevens’ compound from the nearby annex.