Archives for July 2013

Report: 4 in 5 adults have been unemployed, on welfare throughout lifetime

Just how bad is the situation for the average American today? With Wall Street receiving bailouts from the federal government and the Washington elite leading luxurious lifestyles on the taxpayers’ dime, one must ask the question: what about a lower- … [Read more...]

Thailand becomes first country to ban bitcoins, central bank rules it’s not a currency

Bitcoin issued a statement on its website Monday explaining that it had delivered a presentation to officials at the Thailand central bank to educate them on how it operates in order for the bitcoin to be traded in the Asian country. Despite their … [Read more...]

White House won’t pick next Fed Chair until fall

Despite the growing debate and endless speculation as to who the next chairman of the Federal Reserve will be, the White House has confirmed that President Obama will not tap the successor of Ben Bernanke until the fall. A White House official … [Read more...]

6 ways to prepare for the economic collapse and bankruptcy of the U.S. government

With the bankruptcy of Detroit and the coming financial meltdown of various cities across the country, many are concerned that the United States government is also on the verge of complete collapse. It is no surprise, though: $17 trillion national … [Read more...]

Plastic bag bans in U.S. cause jump in shoplifting rates

Cities across the United States and other places around the world have implemented bans on plastic bans. This environmental initiative has led to unintended consequences, such as consumers getting sick because they continually use their tote bags and … [Read more...]

Watchdog: 306,000 borrowers in Obama housing program re-defaulting, 10% at risk

The Special Inspector General for the Troubled Asset Relief Program (SIGTARP), a watchdog for the housing assistance initiative in 2009, concluded that close to half of the mortgages that were modified at the height of the housing collapse have … [Read more...]

Report: Welfare recipients using food stamps to buy food for overseas relatives

It has been discovered that New York welfare recipients are using their Electronic Benefit Transfer (EBT) cards to purchase groceries and then ship them in giant barrels for relatives in the Dominican Republic, Jamaica and Haiti, according to an … [Read more...]

Detroit suffers economic collapse, files for Chapter 9 bankruptcy

And down goes the city of Detroit. Following the decision to file for Chapter 9 bankruptcy, Michigan Republican Governor Rick Snyder and the bankruptcy specialist appointed to handling the case defended the move and blamed the Motor City for the … [Read more...]

Ben Bernanke admits not knowing much about gold prices, ‘not literally’ printing money

Speaking to the Senate Banking Committee on Capitol Hill on Thursday, Federal Reserve Chairman Ben Bernanke discussed gold prices. The yellow metal, which is considered a hedge against inflation and the destructive monetary policies of the nation’s … [Read more...]

High demand for ‘Cronuts’ creates black market for latest food craze

It’s simple economics: when something is banned or it costs way too much money then the entrepreneurial spirit or those who understand the market tend to create an underground economy with the item in question. The latest black market good is not … [Read more...]