Employees of a Pennsylvania city, who have all seen their salaries cut to minimum wage as the mayor grapples with budget problems, are hoping a judge restores their paychecks in full.
President Barack Obama drew sharp election battle lines between himself and rival Republicans on Monday by pressing Congress to maintain tax breaks for most US families but end them for the wealthy.
In a recent column, “Can The World Survive Washington’s Hubris,” I promised to examine whether the US economy will collapse before Washington in its pursuit of world hegemony brings us into military confrontation with Russia and China.
Americans are concerned about the American dream evaporating, and, specifically, about the 99% vs. the 1%, about stagnant wages, about stagnant test scores, about insufficient spending on education (a canard), about too much spending by the federal g
Jim O'Neill has been bullish on the U.S. economy for a long time. And he continues to be bullish.
The United States could be pushed back into recession if automatic tax hikes and spending cuts take effect next year as scheduled, a potentially devastating blow to the world economy, the International Monetary Fund warned on Tuesday.
Mammoth Lakes, California filed for Chapter 9 bankruptcy protection from its creditors due to a nearly $43 million legal judgment against it. The filing follows a vote by Mammoth Lake's town council in favor of a bankruptcy filing,
Thanks to the U.S. Supreme Court, we don't even have a chance to opt out of this corrupt, failed system of patented chemical medications and overpriced surgical procedures. Now, we are forced to hand over our hard-earned money to the very same medic
US manufacturing shrank in June for the first time in 3 years, adding to signs that economic growth is weakening. Production and exports declined, and the number of new orders plunged. Comes as employers scale back hiring,
Utility crews made slow progress Sunday in restoring electricity to millions of households amid a record-setting heatwave in the eastern United States that showed no sign of abating soon.
The judge in the landmark bankruptcy of Alabama's Jefferson County sided with Wall Street creditors on Friday and sharply limited how the cash-strapped local government can use funds generated by its sewer system. The ruling, in a months-long cour
They had good, stable jobs - until the recession hit. Now they're living out of their cars in parking lots.
"The American people are angry," Sen. Bernie Sanders said in a major Senate floor speech today.
Good morning. Here's what you need to know.
What is the second half of 2012 going to bring? Are things going to get even worse than they are right now?
Stockton, California, became the largest city to file for bankruptcy in U.S. history after years of fiscal mismanagement and a housing market crash left it unable to pay its workers, pensioners and bondholders. The city of 300,000 people
Presented by Stephan Kinsella at the 2010 Mises Institute Supporters Summit: "The Economic Recovery: Washington's Big Lie." Recorded in Auburn, Alabama; 9 October 2010.
The new budget will suspend debt payments, cut employee pay and reduce retiree benefits, allowing this city of about 292,000 residents to continue providing essential services through the bankruptcy process.
US President Barack Obama, renowned as a champion fundraiser who piled up $750 million in 2008, warned supporters he would be outspent by his foe Mitt Romney in this year’s election.
The City Council in Pennsylvania's capital of Harrisburg sued the state on Tuesday to halt work by a receiver overseeing the city's fiscal recovery plan. The federal lawsuit challenges the state's takeover of Harrisburg, claiming that state lawmak
With the extension of operation twist and and the inevitable QE3, continued volatility and devaluation of the USD is the in the near future.
It has been said that there are two ways to conquer and enslave a nation. One way is by using the sword, and the other is by using debt.
Stockton, California was poised to take a major step toward becoming the largest U.S. city ever to file for bankruptcy after talks with its creditors. Negotiations aimed at averting bankruptcy may press on informally
whelming the government budget. Near-zero rates also need to be maintained because even a moderate rise would cause multi-trillion dollar derivative losses for the banks, and would remove the banks’ chief income stream, the arbitrage afforded by bor
When it comes to the economy, half of Americans in a new poll say it won't matter much whether Barack Obama or Mitt Romney wins
It is clear that while Fed-produced money has exploded, privately produced money has imploded. The net result is a level of broad money that is way below where it would have been if broad money had followed a trend rate of growth.
The new center of U.S. mortgage lending is a nondescript office building in the American heartland, far from the California subprime lenders and the New York investment banks that drove the housing market into a bust. One out of every three home l
Ratings agency Moody's downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward
Exactly three years ago, we launched this daily e-letter… and needless to say, it’s been eventful.
Good morning. Here's what you need to know. Read more: http://www.businessinsider.com/opening-bell-20-2012-6#ixzz1yKqWcX5d