Archive - Dec 6, 2014 - Story

It seems rather appropriate that just seven days after the US government hit a whopping $18 trillion in debt, mainstream financial media has picked up the IMF’s recent World Economic Outlook report, which puts the US economy as #2 in the world. China obviously has its own substantial problems, but over the last several decades one thing is for certain - China (and Asia in general) is a place where production and savings are valued. The universal law of wealth is to produce more than you consume. The West has completely broken that.

Overnight, two hostages including an American photojournalist, 33-year-old Luke Sommers, who was held for more than a year by al Qaeda's Yemen branch, as well as a South African teacher, Pierre Korkie, were killed in a botched rescue attempt by US special operations forces. This was the second rescue attempt in as many weeks. According to the WSJ, Luke Somers, 33 years old, was killed by militants, U.S. Defense Secretary Chuck Hagel said Saturday. Several members of al Qaeda in the Arabian Peninsula, or AQAP, were also killed in the raid.