Bitcoin is at all-time high, with its value hitting $1,197.96 per coin on Friday and with over $18 billion of the digital currency in circulation. That’s well above its previous peak, in November 2013. At that time, the currency was trading at $1,163 per coin, with $13 billion in circulation. After that previous high four […]
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California, Nestle, And Decentralization…
Nestle USA has announced that it will move its headquarters from Glendale, California, to Rosslyn, Virginia, taking with it about 1200 jobs. The once Golden State has lost some 1690 businesses since 2008 and a net outflow of a million of mostly middle-class people from the state from 2004 to 2013 due to its onerous […]
Stockman: “After March 15 Everything Will Grind To A Halt”…
“I think what people are missing is this date, March 15th 2017. That’s the day that this debt ceiling holiday that Obama and Boehner put together right before the last election in October of 2015. That holiday expires. The debt ceiling will freeze in at $20 trillion. It will then be law. It will be […]
Trump Meets with Healthcare CEO’s (VIDEO)…
Today President Donald Trump met with healthcare executives in advance of a repeal and replacement process ongoing for ObamaCare. It is anticipated that President Trump will outline some of the healthcare measures in his upcoming speech tomorrow night to a joint session of congress.
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AUDIT: EPA Employees Used Gov’t Purchase Card to Spend $14,985 on Fitness Memberships…
Environmental Protection Agency employees used their government purchase cards to spend $14,985 on fitness memberships, according to an audit by the inspector general of the agency. With the goal of assessing the risk of illegal, improper, and erroneous purchases made on the EPA’s purchase card, the auditors evaluated 18 transactions totaling $48,345 and found that […]
J.C. Penney Announces 140 Stores Closing, Offers 6k Early Retirement…
J.C. Penney has announced the closing of approximately 140 stores over the next few months. According to this Yahoo report, the company had a terrible holiday season. Department store operator J.C. Penney Co Inc (JCP.N) said on Friday it would close 130-140 stores over the next few months, and reported a bigger-than-expected drop in same-store […]
The $74 Trillion Global Economy In One Chart…
The latest GDP numbers from the World Bank were released earlier this month, and today’s visualization from HowMuch.net breaks them down to show the relative share of the global economy for each country. As Visual Capitalist’s Jeff Desjardins explains, the full circle, known as a Voronoi Diagram, represents the entirety of the $74 trillion global […]
10 Companies With the Worst Reputations…
A good reputation is a fragile thing, whether a person’s or a company’s. And, like beauty, a good reputation is often in the eye of the beholder. Corporate reputations take time to build but can be severely damaged in the equivalent of a heartbeat. Sometimes a company’s reputation rises or falls depending on the political […]
Pres. Trump, Saudi Arabia and the Petrodollar…
Obama pulled out his veto pen 12 times during his presidency. Congress only overrode him once. In late 2016, Obama vetoed the Justice Against Sponsors of Terrorism Act (JASTA). The bill would allow 9/11 victims to sue Saudi Arabia in US courts. With only months left in office, Obama wasn’t worried about the political price […]
IRS Doesn’t Tell 1M Taxpaying Americans Illegals Stole Their Social Security Numbers…
The IRS has discovered more than 1 million Americans whose Social Security numbers were stolen by illegal immigrants, but officials never bothered to tell the taxpayers themselves, the agency’s inspector general said in a withering new report released Tuesday. Investigators first alerted the IRS to the problem five years ago, but it’s still not fixed, […]
Feds Paid $1 Billion in Social Security Benefits to Individuals Without a SSN…
The Social Security Administration paid $1 billion in benefits to individuals who did not have a Social Security Number (SSN), according to a new audit. The agency’s inspector general found errors in the government’s documentation for representative payees, otherwise known as individuals who receive retirement or disability payments on behalf of another person who is […]
Crazy!: Florida Man Charged With Plotting to Bomb Target…
A Florida man has been charged with plotting to plant bombs in at least 10 Target Corp stores and then profit when the blasts caused the company’s stock price to fall, federal prosecutors have said. Charles Barnett, 48, of Ocala, had asked a law enforcement informant to put the homemade bombs on the shelves of […]
Greenspan Endorses the Gold Standard…
In his remarkable essay, “Gold and Economic Freedom,” written in 1966, Alan Greenspan stated: Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, […]
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Here’s Why Your Auto Insurance Rates Have Soared Nearly 20% In The Past Several Years…
If you’re among the millions of Americans that have noticed your auto insurance premiums skyrocketing in recent years then you may want to thank the people in your life who habitually text and drive. Since 2009, the average, annual U.S. car-insurance premium has risen over 17%, to $926 in 2016, according to trade group Insurance […]
Kraft Heinz Pulls Plug on Massive Unilever Bid…
Never mind. Two days into its public courtship of Unilever, Kraft Heinz is walking away, scuttling what would have been one of the biggest brand mash-ups ever. The food conglomerate, which is backed by investor Warren Buffett, withdrew its $140 billion-plus takeover bid for European consumer products giant Unilever (UL). “Kraft Heinz has amicably agreed […]
Scheme Tied to UnitedHealth Overbilled Medicare for Years, Suit Says…
UnitedHealth Group, one of the nation’s largest health insurers, is accused in a scheme that allowed its subsidiaries and other insurers to improperly overcharge Medicare by “hundreds of millions — and likely billions — of dollars,” according to a lawsuit made public on Thursday at the Justice Department’s request. The accusations center on Medicare Advantage, […]
Rand Paul: Repeal Now, Replace Now!…
Weak-kneed Republicans are starting to stammer, talk of delay and say we can’t repeal all of Obamacare. One GOP plan even keeps the Obamacare taxes. Another GOP plan says to blue states: “If you like Obamacare, you can keep it!” and red states will pay for it. Other GOP plans want to keep Obamacare subsidies […]
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Monopolies Are Worse Than We Thought…
Economists are increasingly turning their attention to the problem of monopoly. This doesn’t mean literal monopoly, like when one utility company provides all the power in a city. It refers to market concentration in general — when an industry goes from having 20 players to having only 10, or when the four biggest companies in […]
Mary Jo White Seriously Misled the U.S. Senate to Become SEC Chair…
Less than two weeks after Mary Jo White was nominated to become Chair of the Securities and Exchange Commission by President Barack Obama on January 24, 2013, White filed an ethics disclosure letter advising that she would “retire” from her position representing Wall Street banks at the law firm Debevoise & Plimpton. White wrote on […]
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Judge Rules Health Insurance Companies Matter More Than Taxpayers…
Largely overlooked last week in the wake of President Donald Trump’s court battle was another controversial judicial ruling. On Thursday the US Court of Claims rewarding Moda Health, an Oregon-based health insurer, $214 million for losses it took participating in the high risk insurance pools established under the Affordable Care Act. The dispute came after […]
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