Saturday, November 2, 2013

Weekly News Wrap-Up 11.1.13

Obama’s Approval Rating, Israels Warning to Iran, Fed Money Printing and More    By Greg Hunter’s 
My top story this week is Israel and the warning it issued late last week about Iran’s nuclear program.  A report says Iran may have enough nuclear material to produce a bomb in as little as a month.  Iran has repeatedly said its program is for the peaceful production of energy, but many countries in the West, including Israel, don’t buy it.  Israel’s deputy defense minister said, “Israel will not stand by and watch Iran develop weaponry.”  That is a not-so-veiled threat of possible future military action.  In another development, Iran may have a new reactor on line that might be very difficult for Israel to bomb.  Once the reactor is on line, bombing it will have catastrophic consequences because of the high amount of radiation it would release.  Remember, we are talking about a month’s time frame or so.  This is a totally under-reported story with global consequences. 

The Federal Reserve decided this week to not taper QE, or money printing.  The Fed is printing $85 billion each and every month to prop up the economy and the big banks.  Renowned money manager Peter Schiff went on record this week and said not only will the Fed not taper, but it is likely to increase QE.  Why?  The economy is looking like it is getting ready to tank.  For example, home sales, retail sales and consumer confidence took big tumbles this past week.  Retail sales are down a whopping 9% from August to September.  9% in one month!!  What do you think the effect of higher health insurance premiums are going to have on the economy? 

Speaking of tanking, President Obama’s approval ratings have sunk to new all-time lows.  Obama Care is a very big reason why.  Not only is the website a mess, but doctors are opting out, millions are losing their health care plans and many are paying much more and getting much less.  NBC broke a story that said the government knew that millions would be dropped from health coverage.  The Obama Administration is spinning this by calling these plans “Bad Apple” health care policies.  In fact, the plans were made illegal with Obama Care.  The President said repeatedly, “If you like your doctor, you can keep your doctor.  If you like your current insurance, you can keep your current insurance.  Period.  End of story.”  No, that is not the end of the story.  This was a major talking point by the President, and many people feel the Obama Administrating purposely lied to people to get the Affordable Care Act passed.  There was no way it would have gone through if they came clean and said millions would lose their health insurance.  Many would be paying much more and get much less coverage and your doctor would be opting out of the plan.  In New Your alone, 77% of doctors are either opting out of Obama Care or thinking about opting out.  Many of my sources think Obama Care is going to collapse under its own weight.  It is unfixable.
Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-up.