Central bankers and financial institutions worldwide are concerned that negative interest rates are garnering a bad reputation. The asinine monetary policy move hasn’t been greeted too well by consumers, savers and many economists. Before we get into the details, here are the central banks with subzero interest rates: ECB: Deposit rate is -0.4 percent Bank […]
Archives for April 2016
Millennials refuse to sacrifice luxuries to pay down student debt: study
Student loan debt is a massive problem for most of the Western world. In the United States, student loan debt has surpassed the $1 trillion mark, and it’s proving to ruin the lives of both millennials and seniors today. Ostensibly, the only way to tackle immense student loans is to make sacrifices. However, a new […]
U.S. government collected record $1.48 trillion in first half of FY 2016 but still runs massive deficit
It seems the United States government needs to hire a new accountant. The current regime in Washington is just terrible at adding and subtracting, or running a budget. According to data from the Treasury Department, federal tax revenues hit a record $1.48 trillion in just the first half of fiscal year 2016 (October to March). […]
Union Hypocrisy: Los Angeles unions want to be exempt from $15 minimum wage they fought for
The unions fight for a $15 minimum wage but then they don’t want it. So, they help bring on this disastrous policy and then they walk away from it. Well, that’s what unions do best anyway. What are we talking about? Well, first let’s go back to the summer of 2015. We reported at the […]
Guest post: Diminishing pensions and Social Security funds could put seniors on food stamps
By Trisha Miller Last year, over $888 billion dollars went to Social Security payments in the US. About 40 million retired workers received benefits averaging $1,342 dollars per month. 28.6% of folks 65-74 were still in the workforce in 2012. Studies approximate that by 2022 that number will rise to about 31%. Why are seniors […]