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Puerto Rico Governor: $72 billion debt ‘is not payable’

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“The debt is not payable,” warned Puerto Rico Governor Alejandro García Padilla. Governor Padilla sat down with the New York Times and simply stated that the $72 billion in debts cannot be paid back. "There is no other option. I would love to have … [Read more...]

Video: LearnLiberty explains ‘Everything Has Its Price’

Money

If you ever watched professional wrestling in the early 1990s then you may remember Ted DiBiase, the Million Dollar Man who famous claimed "everybody has a price." Well, in this case, everything has a price, and that's a good thing says LearnLiberty, … [Read more...]

The audacious words of Greek PM Alexis Tsipras

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The financial situation of Greece only deteriorates, and this isn't boding well for Greeks. Not only are banks closed Monday, but they may be shut down for at least six days. Moreover, Greeks are only allowed to withdraw 81 euros from ATMs this week … [Read more...]

Week in Review: Jun. 22 to Jun. 28

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In case you missed any of this week’s articles, here is a round-up of some of the most read pieces written by the Economic Collapse News staff: We should be grateful for Wal-Mart (hot) Report: 3 reasons why Federal Reserve may postpone 2015 rate … [Read more...]

Chart: 30 most expensive cities for expatriates

Digital World

The World Economic Forum released new data Thursday that listed the 30 most expensive cities in the world for expatriates. Surprisingly, No. 1 on the list was Juba, South Sudan. This was followed by Luanda, Angola and Zurich, Switzerland. The … [Read more...]

Want to know why millennials aren’t getting jobs? 5 weird things millennial applicants do in job interviews

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Human resource professionals and hiring managers have a lot of interesting stories pertaining to their interviews, particularly with the crop of millennial professionals. Everything from eating lunch throughout an interview to having their parents … [Read more...]

Video: This is what happens when you threaten taxi monopolies

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Monopolies don't like to be threatened. When you do, they behave like savages who must resort to violence and chaos as opposed to civilized debate and increased competition. This kind of behavior can be found in France, which used to be one of the … [Read more...]

Question: Why aren’t companies banning Nazi memorabilia as well?

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Since South Carolina announced that it was taking down the Confederate flag from public spaces because of the devastating shooting in Charleston, an array of companies reacted by confirming they're also removing Confederate products from their … [Read more...]

Forget the Hamilton-$10 idea! Let’s abolish fiat currency altogether

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Last week, United States Treasury Secretary Jack Lew announced his intentions to replace Alexander Hamilton's face on the $10 bill with a woman. This is in response to the initiative to kick out Andrew Jackson from the $20 bill and substitute him … [Read more...]

Warren Buffett: Derivatives are ‘weapons of mass destruction’

financial crisis

Despite the term derivative being thrown around a lot on mainstream media outlets and on alternative news websites, most people are really unaware of its meaning. For something that is worth a quadrillion dollars, everyone should know what it is. … [Read more...]