News Story of the Day: the second quarter gross domestic product (GDP) in the United States was revised downwards from 1.2 percent to 1.1 percent. The news was bad timing because Federal Reserve Chair Janet Yellen hinted that a rate hike may happen in September because of a strong economy. But should we really care […]
Archives for August 2016
Citigroup warns a Donald Trump victory will cause global recession
If Republican nominee and real estate billionaire mogul Donald Trump pulls out an impossible victory against Hillary Clinton in November then prepare yourself for a global recession. This is the latest warning from Citigroup. The financial institution believes that markets would enter into chaos and the global economy would collapse because of policy uncertainty. Here […]
Upset over EpiPen controversy? Blame the U.S. government, FDA
By: Jonathan Newman There’s a new bout of outrage over an expensive medicine or medical treatment. While the good in question changes each time, the blame always seems to fall on greedy corporations who just aren’t regulated enough. Free markets and capitalism are the scapegoat, even when nothing remotely resembling unhampered markets in health care […]
Will robots finally kill off the mail man? Switzerland testing it out
The delivery man has become obsolete. His only duties today are to deliver us junk mail, notices from the government and the occasional letter from the bank. Aside from that, the Internet has helped reduce the workload of the mail man, though unions and governments have still tried to keep them relevant (sounds like the […]
Sigh: Massachusetts to impose Uber tax to subsidize taxi industry
The taxi industry is trying to hang on to some sort of relevance. Without the use of force (government) and lobbying (politicians), the cab industry would already be extinct. Uber and Lyft are the more popular choices among consumers, but the state and taxicabs won’t permit that to happen. As part of another way to […]