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Obama Care and Budget Fight, Government Shutdown, Fall 2013 Crop Report & More!

  • Obama Care and Budget Fight, Government Shutdown, Fall 2013 Crop Report & More! 
    by Greg Hunter’s 
    It was a big week of fighting in Congress over Obama Care.  Some Republicans want to stop it, like Senator Ted Cruz filibustered for 21 hours to argue his point against it.  Truth be known, many Democrats are afraid the negative impact the Affordable Care Act is going to have on the economy.  Many people have already been cut back to part-time because of the law.  Statistics clearly show a rise in part-time employment and a decrease in full-time employment.  Some states are reporting a doubling or tripling of health insurance premiums; but, hey, no worries for some big companies, unions and Congress.  Folks like that are exempted from Obama Care.  If it is so good, why do so many want out of it, including the IRS who will be implementing this.

    Meanwhile, the fight over the budget and the debt ceiling rages on.  I know many I have interviewed think Congress will get it together and kick the budgetary can down the road for at least a few months; but, this time, I am a little worried the government will shut down.  This isn’t going to be like the shutdowns in the 1990’s.  The U.S. had a balanced budget, and the economy was going full blast with IPO’s, innovation job creation and productivity gains.  We had very little war in that era as well.  Now, just the opposite, and a shutdown this time could have some real negative effects on interest rates, the dollar and our global image.

    Speaking of global image, the new President of Iran, Hasan Rouhani, just turned down President Obama’s offer to have a face-to- face meeting over its nuclear program.   The former President of Iran would have jumped at this.  What gives?  Is Obama viewed poorly?  Has President Obama’s handling of the Syrian conflict made him look weak?  Is the world taking him seriously?  I applaud him for giving a speech at the UN offering to talk to Iran.  Anything to try to avoid war, but I find it a bit troubling that the new President passed on a face-to-face with Obama.  Not good.

    Finally, I am here in Missouri, and I have good news to report about the crop situation.  It looks like the crops will be pretty good this year.  Yields were way down last year, and prices went up because of it.  This year, there was a 180 degree turnaround.  Many of you asked questions about whether these crops were GMO, and the answer is yes.  Nearly all corn and beans have some sort of genetic engineering, such as drought resistant or bug resistant.  I am told farmers do not have a choice in planting seed without any GMO.  You either plant what they have or you do not plant at all.  Farmers have little choice.

    Join Greg Hunter as he gives his analysis on these stories and more in the Weekly News Wrap-Up.

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September 28, 2013 - Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , ,

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