Archives for October 2013

5 scary facts about the enormous national debt

This Halloween, be afraid, be very afraid...of the national debt. This year marks the second annual Halloween edition of Economic Collapse News’s “scary facts about the national debt.” Last year, it was one of the most popular articles during the … [Read more...]

Taxpayers lost $9.7 billion on bailout of General Motors

In a report issued to the Congress by the Special Inspector General of the Troubled Asset Relief Program (TARP), it was stated that the United States Treasury’s 2009 bailout rescue of General Motors has lost about $9.7 billion of the near $50 billion … [Read more...]

Poll finds Canadians still facing high debt levels, average reaches nearly $16,000

With record-low interest rates, easy access to credit and the consuming beast still within all of us, it is understandable that the debt problem is still prevalent for millions of households in the Great White North. The Royal Bank of Canada (RBC) … [Read more...]

Physical gold demand spikes, central banks to add $15 billion this year

Exiting Federal Reserve Chairman Ben Bernanke doesn’t understand gold or its prices – this is apparent considering that he feels printing money forever is a superb monetary policy. Despite the drop in gold prices this year, physical gold demand is up … [Read more...]

Report finds U.S. lags in math, reading despite immense education spending

In the United States, the average cost of a four-year degree can range anywhere from $15,000 to as high as $60,000. This is an astronomical sum and mostly funded through federal and state government student loans. The data shows that more Americans … [Read more...]

Are unpaid internships for youth now a thing of the past?

For decades, young people looking to garner work experience, learn new skills and prepare themselves for the career they have chosen would work as an intern for a law firm, media publication, entertainment outlet or a hospital. Nowadays, it seems … [Read more...]

Alan Greenspan bashes crony capitalism, predicts double-digit inflation

Former Federal Reserve Chairman Alan Greenspan is on a tour of his new book “The Map and The Territory.” During this time, he has delivered a series of statements and passages in his book are beginning to be published in the news media. Essentially, … [Read more...]

Marc Faber: Federal Reserve could increase ‘QE-infinity’ to $1 trillion per month

Throughout the summer, the mainstream media continued to state that the Federal Reserve would be tapering its aggressive $85 billion per month bond-buying program. However, that did not come to fruition – the only person it seemed to understand this … [Read more...]

Poll: Nearly half of Americans expect to retire later due to economic collapse

With a higher cost of living, rampant price inflation, a devaluation of the United States dollar and enormous public and private debt levels, Americans seem to be no longer living out the American Dream. Instead, they are living paycheck-to-paycheck … [Read more...]

Furloughed workers getting back pay Oct. 25, 1% raise next year

It seems federal government workers who were furloughed for the past couple of weeks don’t have to worry anymore about not paying their bills on time. According to a poll by the National Treasury Employees Union (NTEU) poll, 57 percent of its … [Read more...]