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Weekly News Wrap-Up Embrace the Suck, Japan and China War, Ukraine Protesters, US Will Have A Detroit Moment and More

by Greg Hunter, USAWatchdog:

The latest budget deal that House and Senate leaders have come up with can be summed up by saying it really is more of the same. There are little spending cuts and little in tax increases. There is something in it for everyone to hate. The Tea Party did not get any meaningful spending cuts, and the liberal Democrats didn’t get much in the way of tax increases. Minority Leader Nancy Pelosi told Democrats, “Embrace the suck.” Speaker of the House John Boehner told conservative members, basically, to shut up. Who cares if the deficit has grown more than $3 trillion in just three years? At some point, the world is going to figure out the U.S. is not serious and is never paying back all this money. That’s when the entire country will have a Detroit moment.

The fight over the Senkaku Islands between Japan and China is far from over. Some are predicting there could be military conflict as early as January 2014. Both countries are having economic problems, and war could be started for political reasons. China and Japan are the number one and two foreign holders of U.S. debt. The U.S. economy could suffer a knockout blow if either country starts selling its Treasury bonds.

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