This is what happens when a major American state lets its bills stack up for two years. Hospitals, doctors and dentists don’t get paid for hundreds of millions of dollars of patient care. Social-service agencies help fewer people. Public universities and the towns that surround them suffer. The state’s bond rating falls to near junk […]
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19th Obamacare Co-Op Folds, Leaving Only 4 Operating in 2018…
Minuteman Health of Massachusetts and New Hampshire announced it is withdrawing from the Affordable Care Act exchanges in 2018, leaving only four co-ops in operation. The co-op will stop writing business on January 1 and organize a new company, Minuteman Insurance Company, instead. The company cited issues with Obamacare’s risk-adjustment program, which is the program […]
The Subtle Approach Apple Is Using to Become a Bank…
At WWDC a few weeks ago, there was a short segment where apple introduced a new feature for iMessage. In iOS 11, they now allow people send cash to one another. It’s the same thing as Venmo. They don’t charge you a fee. It’s just, “Hey Bobby, here’s $20 that I owe you from dinner […]
Supermarkets Set to Introduce ‘Surge Pricing’ in Their Stores According to Demand…
Shoppers could be asked to pay more for ice-cream on a warm summer’s day as US-style ‘surge pricing’ looks set to hit UK shops. Major British retailers are exploring using new technology to constantly change prices according to demand in shops. The model is used widely in Europe and the US and by the popular […]
Seattle’s Painful Lesson: How to Hurt Low-Wage Workers, Increase Minimum Wage to $15 Minimum Wage…
In the summer of 2014, the Seattle City Council unanimously passed a bill increasing the city’s minimum wage to $15 an hour. “No city or state has gone this far. We go into uncharted territory,” said council member Sally Clark. The City of Seattle, to its credit, actually made some effort to chart the waters […]
FLASHBACK: The Federal Reserve Cartel: The Eight Families – Part 1/4…
According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1] So who then are the stockholders in these money center banks? This information is guarded much more closely. My queries to bank regulatory agencies regarding stock ownership in the […]
California to Officially List Key Ingredient in Monsanto’s Roundup as Cancer-Causing…
Glyphosate, the main ingredient in Monsanto’s widely used herbicide Roundup, will be added July 7 to California’s list of chemicals known to the state to cause cancer, according to a Reuters report Tuesday. This news comes after the company’s unsuccessful attempt to block the listing in trial court and requests for stay were denied by […]
San Francisco Is Burning by Jon Ronson…
A series of strange and unsettling fires in the Mission District have people wondering: Are the city’s landlords using arson to drive out low-income tenants? And is this the deadly endgame of gentrification and tech-boom greed? Jon Ronson investigates the mystery. I’m sitting by the fireplace, as I told him I would be. This is […]
Qatar Lifts Development Moratorium on World’s Biggest Gas Field…
Qatar has lifted a self-imposed moratorium on development of the world’s biggest natural gasfield after more than a decade, the chief executive of state energy company Qatar Petroleum said yesterday. The giant Gulf gasfield, which Doha calls the North Field and Iran calls South Pars, accounts for nearly all of Qatar’s gas production and about […]
REPORT: How the Federal Reserve Serves U.S. Foreign Intelligence…
The Federal Reserve’s little-known role housing the assets of other central banks comes with a unique benefit to the United States: It serves as a source of foreign intelligence for Washington. Senior officials from the U.S. Treasury and other government departments have turned to these otherwise confidential accounts several times a year to analyze the […]
‘Free Wage’ Recipients in Finland Report Less Stress & Greater Incentive to Work…
Participants in Finland’s universal basic income program say they are less stressed and more inspired to find a job than when they were receiving welfare. Under the pilot program aimed at tackling unemployment, 2,000 people have been given €560 every month for two years. The participants are not obliged to start looking for a job […]
U.S. Issues Arrest Warrants for Former VW Execs over Emissions Cheating…
The United States government has issued international arrest warrants for five former Volkswagen (VW) managers in connection with the dieselgate scandal. According to the Suddeutsche Zeitung newspaper, the five are accused of conspiring to commit fraud and violating US environmental regulations. At least two were reportedly confidants of former VW CEO Martin Winterkorn. The German […]
Bitcoin Is Money…
Up 158 percent against the U.S. dollar this year, bitcoin is now the best-performing currency. Many are confused as to how this mathematical protocol can be worth more than $2,600, and why it keeps going up. The short answer: Bitcoin is money, just a little better and cheaper than the alternatives. If you don’t understand […]
Uber Founder Travis Kalanick Resigns as C.E.O….
Travis Kalanick stepped down Tuesday as chief executive of Uber, the ride-hailing service that he helped found in 2009 and built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company. Mr. Kalanick’s exit came under pressure after hours of drama involving Uber’s investors, according to […]
Illinois Comptroller: “The State Can No Longer Function”…
With just 10 days to go until Illinois enters its third year without a budget, resulting in the state’s imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic Illinois Comptroller Susana Mendoza issued a warning to Illinois Gov. Rauner and other elected […]
Barclays, Former CEO Criminally Charged Over Qatar Fundraising…
Two familiar names are in the news this morning, after the UK’s Serious Fraud Office filed criminal charges against Barclays Plc and four former executives, including former CEO John Varley, for conspiracy to commit fraud regarding the bank’s 2008 capital raising from Qatar. The SFO said Tuesday that former Chief Executive Officer John Varley, former […]
Amazon Eats Up Whole Foods as the New Masters of the Universe Plunder America…
“We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can’t have both.” —Justice Louis Brandeis With his $13.7 billion acquisition of Whole Foods, Amazon’s Jeff Bezos has made clear his determination to dominate every facet of mass retailing, likely at the […]
Related
Deloitte Audited the Fed for Eight Straight Years of the Financial Crash…
In 2006 the Federal Reserve’s books were audited by PricewaterhouseCoopers. But beginning in 2007 and for every year thereafter through 2014, the Fed’s books were audited by Deloitte & Touche. That’s a very long eight years that just happen to coincide with the greatest economic upheaval in the U.S. since the Great Depression. (Since 2015, […]
Outlook for Oil Looks Bleak, Prices Hit 7-Month Low…
Crude oil started the week with a loss, which may be extended today as U.S. shale drillers continue to add rigs, and Libya and Nigeria ramp up production, undermining their fellow OPEC members’ efforts to reduce output and support prices. Oil prices are now at a 7-month low. Oil prices were pressured when last Friday, […]
David Rubenstein Named Chairman of the Board of the Council on Foreign Relations…
David M. Rubenstein, co-founder and managing director of the private equity firm the Carlyle Group, has been named chairman of the board of the Council on Foreign Relations effective July 1. He succeeds both former U.S. Trade Representative Carla A. Hills, chairman and CEO of Hills & Company, and former U.S. Treasury Secretary Robert E. […]
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