US and global stock market seem to rally during natural, national and international disasters. Tornadoes, floods, terrorist attacks, the greater the loss of life, seemingly the stronger the rally. The stock market rise following a terrorist attack on Turkey's largest airport was no exception. The US S&P Spider ETN was up by 1.7% the morning after. … [Read more...]
Saudi Arabia Declared War on the American Oil Sector & U.S. Jobs
Media, American leaders remain silent. Saudi Arabia made a policy decision in 2014: Flood the world with cheap oil in order to undermine U.S. oil producers. A terrorist attack would not have inflicted as much damage on the American oil sector over the past year. U.S. companies are going bankrupt, jobs are forever lost, and everyone knows that the Saudis are guilty. Quite proud of it in … [Read more...]
Obama’s Stock Market Miracle for Wealthy Donors: Bubble for the Rest?
During the February storms that paralyzed the East Coast, killed 20 people and denied power to over 700,000, the U.S. stock market was on steroids. Misery apparently brings glee on Wall Street. Since it bottomed in 2009, the stock market has been on a meteoric rise - while economic security (and hope) has vaporized for middle and lower income class workers. The Federal Reserve was pumping $85 … [Read more...]
Fear Economy for the Ruling Class: Is the Tipping Point Near?
Paul Krugman hits a nerve with his NYT op-ed, "The Fear Economy," (December 26, 2013). The following day, the S&P, DOW & NASDAQ reached new highs, performing in 2013 like Internet stocks from the late 1990s. The Federal Reserve brags on its website that Americans accumulated over 77 trillion in assets by 2013, (largely controlled by the 0.1 percent.) Have we reached the tipping point? In … [Read more...]
Consumer Alert: Department Store Marks Up Price by 300 Percent Pre-Discount
Replacing a favorite handbag with a newer model. My handbag is the right shoulder weight and contains all the pockets I require. It was even subjected to the washing machine hot cycle on several occasions. The purse came out perfect with nary a thread exposed. I purchased my first "edition" two years ago at a department store famous for parades. It cost me roughly thirty dollars. Now it was … [Read more...]
Student Debt: Single InfoGraphic Tells a Sad Story
College students today are spending more on their education than ever before. Here's a visual look at the numbers. Guest post and image by graphic artist Maxine Wells (Gryffin.com). Tuition has risen 500% since 1985 and continues to rise each year, making it increasingly difficult to afford college. While a large percentage of full-time students take on a part-time jobs, the extra money … [Read more...]
Holiday Shopping: 5 Ways To Save Money While Shopping This Holiday Season
Save Money This Holiday Season - Avoid the Pain of Your Next Credit Card Bill. Guest Post by David Landry Jr. While joy and good cheer surround holiday shopping, there is little pleasure in discovering that you spent far more than you can afford. The sad lesson comes in opening your credit card statement the following month. To mitigate the pain, or avoid it altogether, here are five tips … [Read more...]
“Unbanked” and “Underbanked” – How US Banks Fail to Serve Nearly 60 million Americans
"Unbanked" and "Underbanked" - American citizens who lack access to secure banking services. Guest post by John Gower, NerdWallet.com. From the piggy bank to federal student loans, banks touch the lives of almost every American. Yet, nearly 60 million Americans lack access to secure banking services and/or do not have a bank account. Minorities and immigrants, in particular, often rely on … [Read more...]
The World Bank: The Bank’s Role in the Global Economy and Why it Matters
The World Bank is the largest financial backer of international development, particularly of emerging nations. Guest post by Angie Picardo A supremely powerful institution, the World Bank is also frequently criticized for its policies, initiatives and operations. Framed with successes and shadowed by missteps, the Bank has generated significant fiscal and social change for countries around … [Read more...]
Identity Thieves Don’t Need Your Credit Card or Even the Number to Steal It.
Just when you think it can't get worse, it does. According to a credit card executive I spoke with, credit card thieves run a series of numbers - something like a lottery. Master Card, Visa and American Express each start with identifiable numbers. Credit card thieves then append random numbers and keep running them through a program. Eventually, they hit the lottery - your card. You … [Read more...]