Fortunately, there is one. A bevy of legal scholars are recommending that the issue be eliminated altogether by playing the Constitutional trump card. The Fourteenth Amendment provides at Section 4: T
The rollout of NFC payments in the U.S. has been so sluggish that a superior technology -- biometrics -- is about to catch up
I guess it should be obvious that we're watching an unfolding bloodbath here (even Goldman lost almost 20% in 6 months).
The Wal-Mart stores in question had "82.8 million fewer visits through the first five months of the company’s fiscal year." More than anything this is an indication of just how exhausted the US consumer is becoming if even the most beloved...
Ernest Hancock back in the studio updating us on today's news (Silver & Gold Prices - WOW!!!)
A sudden and unexpected burst in private-sector downsizing pushed the number of announced job cuts to a 16-month high of 66,414 in July, according the latest report on downsizing activity released Wednesday...
Stocks posted their worst daily decline in nearly a year Tuesday, wiping out the year’s gains and raising fresh questions about the strength of the economic recovery. Despite the seemingly positive news that President Obama signed the long-awaited
There need be only a single event that occurs at an opportune time and is pushed by the mainstream media and all hell will break loose.
It appears that GDP data revisions are not the only thing that the administration enjoys fudging with in order to make the Chinese ministry of Truth seem like a real ministry of truth.
Cloaked in the fear surrounding the debt ceiling and a possible default is the most dangerous legislation that America has ever faced. If this passes, the Super Congress will make the PATRIOT Act look like a just and fair law. When six Republicans
Former head of the Government Accountability Office and Comptroller General of the United States, David Walker has issued a stark warning following the compromise deal to raise the debt ceiling.
Barry Hess - Guest Hosting - Updates us on today's news
"Our GDP number on Friday was an indication that states and local governments, which make up 12% of GDP, are really pulling back," she added. "We're certainly in a double dip on housing," which is putting "enormous pressure on the economy."
The "month-by-month" chart shows a definite economic downturn starting full bore in the April/May time period. Usage is now falling and is well below 2010 levels and approaching 2009.
Just a day before the United States faces financial default, House lawmakers approved a compromise bill that will raise the nation's debt ceiling in exchange for trillions of dollars in federal spending cuts. The bill, approved 269 to 161, will in
Political brinksmanship with the economy? Devaluation of the world's reserve currency? An onslaught of inflation? What's next? One thing that might be "next" is a deflationary shock as about 36% of the USA economy doesn't show up on the 3rd of August
July ISM plunged from 55.3 to 50.9, or yes, "a tad above 50", on expectations of 54.9. This is the lowest ISM in two years, and confirms that the Fed's viagra no longer does anything to help the soft spot.
Let's give thanks that it's over because now the USA can get on with its systemic collapse honestly and fairly.
Apple now has more cash to spend than the US government. Latest figures from the US Treasury Dept. show the country has an operating cash balance of $73.7bn. Apple's most recent financial results put its reserves at $76.4bn.
Ending a perilous stalemate, President Barack Obama and congressional leaders announced historic agreement Sunday night on emergency legislation to avert the nation's first-ever financial default. The dramatic resolution lifted a cloud that had threa
Up until 1917, the thing that is creating so much political turmoil right now—the U.S. debt ceiling—didn’t even exist. This New York Times video takes a look at the history of the debt ceiling and why it causing so much political infighting today.
Zurich-based Credit Suisse wails and gnashes teeth at the prospect of dollar holders seeing a 50% rise in purchasing power.
The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday.
As he explained it, lots of people in Washington, D.C. expected that this would be a week marked by panic in the markets. Stocks would tank. Bonds would get clobbered. The dollar would do something dramatic. And all of this would help convince reluct
Improving Mexican economy draws undocumented immigrants home from California
Production is the End “The economic goal of any nation, as of any individual, is to get the greatest results with the least effort. The whole economic progress of mankind has consisted in getting more production with the same labor,” began econom
The U.S. debt is totally out of control — now sitting at $14.3 Trillion, raising the debt ceiling will only buy a little more time until a massive crash takes place and total chaos ensues (economic and physical), a total fall of the republic.