debt
Did the Economy Just Stumble Off a Cliff?
The signs are everywhere for those willing to look: something has changed beneath the surface of complacent faith in permanent growth. This is more intuitive than quantitative, but my gut feeling is that the economy just stumbled off a cliff. Neither the cliff edge nor the fatal misstep are visible yet; both remain in the shadows…
Read MoreHere’s How Many Americans Are Living Paycheck To Paycheck (Hint: It’s A Lot)
Is your family forced to count down the days each month until the next paycheck arrives? If so, you’re part of a staggering, and growing, majority of households in America, the richest country on the planet, that is forced to do the same. According to a new poll conducted by Harris Poll on behalf of CareerBuilder,…
Read MoreWashington D.C. Is Essentially Just A Gigantic Money Machine
If you have ever wondered why our leaders in Washington D.C. seem to act so strangely, the truth is that it almost always comes down to just one thing. It has been said that “money makes the world go round”, and that is definitely true in Washington. This year the federal government will spend more than…
Read MoreTerrible News For Illinois: Moody’s Puts State On Review For Downgrade To Junk Despite Budget
The passage of Illinois’s budget, which is scheduled for tomorrow despite the veto of Gov. Rauner which was duly overridden on July 4, was supposed to be the critical catalyst that saved the state from a downgrade to junk status by the rating agencies, a first in US history. Unfortunately, moments ago Moody’s said that…
Read MoreThe Worst Financial Nightmare In Illinois History Erupts As State Comptroller Declares ‘We Are In Massive Crisis Mode’
Margaret Thatcher once said that the big problem with socialist governments is that “they always run out of other people’s money”, and unfortunately we are witnessing this play out in a major way in the state of Illinois right now. At this point, the Illinois state government has more than 15 billion dollars of unpaid…
Read More11 Facts That Prove That The U.S. Economy In 2017 Is In Far Worse Shape Than It Was In 2016
There is much debate about where the U.S. economy is ultimately heading, but what everybody should be able to agree on is that economic conditions are significantly worse this year than they were last year. It is being projected that U.S. economic growth for the first quarter will be close to zero, thousands of retail…
Read MoreWho’s Playing The Long Game–and What’s Their Game Plan?
Take a moment to consider the Neocon camp’s over-reaction to the inchoate challenge to its dominance posed by the Trump administration. When we speak of The Long Game, we speak of national/alliance policies that continue on regardless of what political party or individual is in office. The Long Game is always about the basics of national survival: control…
Read MoreDear America: Better Read the Fine Print on Your Credit Card Statement
What will replace the current system after it self-destructs? That’s the question. You know those disclosures on your credit card statements? That it will take 27 years to pay off your balance if you only make the minimum payment each month, and so on? You might not be aware of it, but America’s “credit card”–our…
Read MoreWhen Money Is “Free,” Discipline Evaporates; When Discipline Evaporates, Decisions Are Disastrous
The only possible output of a system lacking any discipline is self-destruction. Whatever is free is squandered. When water is free, it’s freely wasted. When electricity is free, there’s no motivation to use it wisely. The same principle holds true for money. If money is free, or nearly free, there is no motivation to invest…
Read MoreGood News: Your FICO Credit Scores May Improve Soon. Here’s Why
Your credit scores might get a nice boost this summer due to changes in how the scores are calculated. From Forbes: As of July 1, the nation’s three credit reporting agencies will remove and exclude certain negative information from credit reports. Tax liens and civil debts will no longer be reported on credit reports if…
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