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Weekly News Wrap-Up 6.27.14

Friday, June 27, 2014 15:10

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(Before It's News)

TND Podcast Spotlight: Greg Hunter’s USAWatchdog.com

Iraq is the top story, and the crisis there is boiling over. At its core, this is a religious war between the Sunni and Shia Muslims. One big problem–the U.S. has armed and supported both sides. We have sent military advisors to help the Shia majority government that is being helped by Iran. ISIS was armed in part by the U.S. in Syria; and, now, the Obama Administration is asking Congress for $500 million to aid the so-called rebels in Syria. I have been telling you that a large percentage of the Syrian rebels are al-Qaeda and not “moderate.” ISIS (Islamic State of Iraq and Syria) is an offshoot of the Syrian rebels. This week, the President said that when it comes to attacking the ISIS rebels, you just can’t “play whack-a-mole.” It is much deeper than that because Saudi Arabia is also arming these rebels. You think they might stop taking U.S. dollars for their oil if the U.S. attacks the people the Saudis are supporting? On the other hand, Iran is threatening any “petrodollar country” that is helping ISIS. This is a not so veiled threat to Saudi Arabia. The U.S. is in a damned if we do, damned if we do scenario. If we help the Iraqi government, we will be helping the Iranians; and the Saudis will, no doubt, stop oil trade in dollars. If we do nothing, ISIS might take over Iraq and a terror army will have its own country. This is an enormous mess, and it will spike oil prices and might even start WWIII.

The Ukraine crisis has been an on again off again cease fire situation and no real end in sight after the pro-Russian separatists downed a Ukrainian military helicopter killing all on board. I don’t think the Russians are going to invade—at least, not at the moment. They look like they will continue arming and helping the separatists, and that might draw more sanctions. I said might. Obama said that if the Europeans refuse to impose new sanctions, then he won’t either. The President couldn’t look any weaker in Ukraine and Iraq for that matter.

The economy plunged in the first quarter even greater than we were told according to the latest government revision to GDP. It shrunk -2.9%, not -1%. When you consider the “official” GDP in the fourth quarter of 2013 was a positive 2.6%, the fall is stunning quarter to quarter. That is a 5.5% cliff dive in GDP. Listen to how the mainstream media (MSM) spins this. First, the AP headline says“Analysts shrug off economic downturn.” Really? This is no big deal, and they just “shrugged it off.” The article goes on to say, “Harsh winter contributed to the biggest contraction since the depths of the recession 5 years ago.” The MSM is delusional and dishonest. Look for the second quarter to be negative as far as growth.

Click here to read the rest of Greg Hunter’s write-up and to access the active comment section.

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About Greg Hunter: Greg is the producer and creator of Greg Hunter’s 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. Greg Hunter’s 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. Greg encurages feedback and welcomes comments. You may also support USAWatchdog.com by clicking here to donate. Reprinted with permission.