Hundreds of protesters crammed the streets of Lower Manhattan, clashing with the NYPD as they attempted to march down Wall Street. Kmele Foster, co-host of Fox Business’ The Independents, met up with Pulitzer-Prize winning author Chris Hedges for a heated debate on the merits of capitalism.
The Fed and its agents rig the gold price in the New York Comex futures (paper gold) market. The bullion banks have the ability to print an unlimited supply of gold contracts which are sold in large volumes at times when Comex activity is light.
The poverty rate for children fell nearly 2 full percentage points last year, according to the US Census Bureau.
The poorest Americans now owe 156% of their pretax income to creditors, according to a new study by the Federal Reserve Bank. The poorest have more debt relative to their net worth in American history, owing $1.37 for every dollar they own.
The study, titled An Economy Doing Half its Job, said American companies – particularly big ones – were showing some signs of recovering their competitive edge on the world stage since the financial crisis, but that workers would likely keep struggling to demand better pay and benefits.
“The Makers,” features many of the prominent personalities within the maker movement. It also, however, features at least two picked straight from big business – including representatives from Autodesk who helped lead the charge for SOPA/ACTA as well as war profiteer General Electric.
#RethinkHomelessness asked our #homeless friends to write down a fact about themselves that other people wouldn’t know just by walking past them. Their answers may surprise you.
Employees of the fast-food industry demand $15 minimum wage and better workplace protections as actions expected in 150 cities across the country
According to the government figures, while a majority of people who were not always able to afford food last year were adults, 16 million children also went hungry at times, with 360,000 households reporting that their kids skipped meals or did not eat for an entire day because there was not enough money.
The only way you can get to the “lost decades” story is if you start your chart exactly when Japan was busting and America booming. Unsurprisingly, this is standard practice of the “lost decades” storytellers.
Several factors contribute to the broad sense that something in the economy is not right despite exuberant financial markets and a lower rate of unemployment. In our view, the primary factor is two decades of Fed-encouraged misallocation of capital to speculative uses, coupled with the crash of two bubbles (and we suspect a third on the way). This repeated misallocation of investment resources has contributed to a thinning of our capital base that would not have occurred otherwise. The Fed has repeatedly followed a policy course that sacrifices long-term growth by encouraging speculative malinvestment out of impatience for short-term gain. Sustainable repair will only emerge from undistorted, less immediate, but more efficient capital allocation.
U.S. government’s announced $16.65 billion settlementwith Bank of America announced on Thursday—so far the largest associated with the Wall Street-fueled mortgage malpractice that led to the 2008 financial meltdown—is more stage-acting than justice and more business-as-usual than real punishment
Retail sales are extremely disappointing, mortgage applications are at a 14-year low and growing geopolitical storms around the world have investors spooked. For a long time now, we have been enjoying a period of relative economic stability even though our underlying economic fundamentals continue to get even worse. Unfortunately, there are now a bunch of signs that this period of relative stability is about to end. The following are 14 reasons why the U.S. economy’s bubble of false prosperity may be about to burst…