Billionaires Dumping American Stocks
In the latest
filing for Buffett’s holding company Berkshire
Hathaway, Buffett has been drastically reducing his exposure to
stocks that depend on consumer purchasing habits. Berkshire sold
roughly 19 million shares of Johnson & Johnson, and reduced
his overall stake in “consumer product stocks” by 21%. Berkshire
Hathaway also sold its entire stake in California-based computer
parts supplier Intel.
Fellow billionaire
John Paulson, who made a
fortune betting on the subprime mortgage meltdown, is clearing
out of U.S. stocks too. During the second quarter of the year,
Paulson’s hedge fund, Paulson & Co., dumped 14 million
shares of JPMorgan Chase. The fund also dumped its entire
position in discount retailer Family Dollar and consumer-goods
maker Sara Lee.
Finally, billionaire
George Soros recently
sold nearly all of his bank stocks, including shares of JPMorgan
Chase, Citigroup, and Goldman Sachs. Between the three banks,
Soros sold more than a million shares.
Read more:
Billionaires Dumping Stocks,
Economist Knows Why
The Middle East is about to Explode
From
HAARETZ: The
White
House declined Israeli Prime Minister Benjamin Netanyahu's
request recently to meet U.S. President Barack Obama
during a UN conference in New York at the end of the month.
Obama is making Israel the enemy and not Iran. Iran has
identified Obama’s bluff by ignoring everything Obama said
publically and continuing its nuclear weapons program daily.
Obama told Israel just to wait until the sanctions are in
place and negotiations are finished. While Israel waits, Iran
gets closer to building a nuclear weapon. From
THE HILL:
President
Obama has invited Egypt's new president to meet him
in New York when the United Nations General Assembly convenes
in September, an administration official confirmed to The
Hill. The invitation to
Mohammed Morsi, a member of
the Islamist Muslim Brotherhood, a group with a
violent past, could raise concerns among lawmakers who have
questioned continued U.S. support for Egypt. Obama has
completely turned against Israel and is now supporting the
Muslim Brotherhood.
He invites Morsi to the White
House after he rejects Netanyahu, while the Muslims attack
US embassies throughout the Mideast. The Muslims
are energized for war because they do not believe America will
support Israel during the next Arab-Israeli conflict.
Read more:
http://www.digitaljournal.com/article/332837#ixzz26fvXWtBD
WASHINGTON – Prime Minister
Benjamin Netanyahu criticized
certain American columnists saying that they "set a new standard
for human stupidity" for writing that a nuclear
Iran may "stabilize the
Middle East".
Netanyahu responded: "I think Iran is very different, they
put their zealotry above survival, they have suicide bombers all
over the place, I wouldn't rely on their rationality."
According to Netanyahu: "Since the advent of nuclear weapons
you've had countries that have had access to nuclear weapons who
always made a careful calculation of cost and benefit but Iran
is guided by a leadership with an unbelievable fanaticism.
"It's the same fanaticism that you see storming your
embassies today. You want
these fanatics to have nuclear weapons?"
Your Tax Dollars are Refurbishing Mosques Overseas
WASHINGTON, D.C. —
A Channel 2 Action News investigation found that the State
Department is sending millions of dollars to save mosques
overseas. This investment has received criticism as the United
States makes an effort to slash nearly $4 trillion in government
spending.Plenty of outrage following the announcement made
Thursday afternoon by a government commission that suggested
huge cuts to the budget, including eliminating the interest
education for home mortgage. This juxtaposed with
the
United States investing millions to refurbish mosques as a
good-will effort in Muslim countries has upset many taxpayer
groups.
“We are spending money we don’t have. This is all on a
gigantic credit card right now,” said Jared Thomas, a taxpayer
advocate.
Millions more dollars
have been sent to places like Cyprus. The State
Department displays before and after pictures of mosques
refurbished with U.S. tax dollars.
Is it time to go home
yet?
Melissa