You Are Here: Home » News » Economic Collapse (Page 4)

Odds for government shutdown rise to 50% as battle to raise debt ceiling expected to be difficult for Trump

When Congress pushed forward the debt ceiling debate earlier this year until October when the new budget was expected to voted up, there were medium to strong expectations of the Republicans being able to raise the debt ceiling in the same way Obama saw it raised several times during his administration.  However as the President continues to erode support from his own party and from the American people than ...

Read more

J.C. Penny becomes the new GM as its share price falls to the level of a penny stock

At one time General Motors was the most valuable company in the United States, and had more employees than any other company or government outside of the Soviet Union.  Yet within just 50 years of this triumphant achievement, GM was not only on the cusp of insolvency, but their stock price had fallen to just barely over $1 per share. Fast forward to 2017... J.C. Penney was also one of the country's greatest ...

Read more

Social Security Trust estimates it needs a $46 trillion bailout to sustain the program

According to a new report sent by the Social Security Trustee Board to Congress a few weeks ago, the nation's primary retirement program may need a bailout of $46 trillion to sustain it going into the future. To picture how big $46 trillion is, imagine multiplying the current national debt by 130%, or multiplying the country's GDP by 300%. A few weeks ago the Board of Trustees of Social Security sent a form ...

Read more

Debt balances for U.S. households now greater than just before the 2008 financial collapse

Despite Americans going through millions of foreclosures, bankruptcies, and loss of jobs just nine years ago, few lessons were learned as a combination of declining incomes and the mantra of 'it will be different this time' have led households in the United States to not just accumulate large debt balances, but as of June even surpass the totals held just prior to the financial collapse of 2008. According t ...

Read more

Job market continues on as before with economy losing full time jobs and replacing them with part time ones

Contrary to President Trump's tweets about how great the economy has been since his administration has taken over, the job markets are continuing in the same trend as before when they were under the former President, Barack Obama.  And with the BLS publishing their new Jobs Report coming on Aug. 4 which proclaimed a beat over analyst expectations, the fact of the matter is when you break down the data, once ...

Read more

EU ready to impose economic sanctions on their own member states if they don’t instill more austerity on their people

As the world economy rushes headlong towards its next potential crisis, bureaucrats at the ECB are preparing for this by threatening to fine and implement economic sanctions against their own member nations if they do not conform to demanded financial reforms recommended by the central bank. Note that the threat of fines and sanctions are being made against EU members not over approved policies, but for sim ...

Read more

Italian leadership conducting serious debate over both leaving the Euro and the Eurozone

In the U.S., QE and ZIRP policies implemented by the Federal Reserve over the past nine years have resulted in a massive divide between the halves and have nots, and at a disparity not seen since just before the 1929 stock market crash.  In fact, since the central bank chose to backstop the banks and stock markets with tens of trillions of dollars of virtually free money, the wealth redistribution from the ...

Read more

Amazon may be forcing brick and mortar businesses to automate just to survive

There is a legitimate argument to be made that the rush towards automation for businesses like McDonalds, Lowe's, and Best Buy are intrinsically tied to new government policies pushing forth an unaffordable $15 minimum wage.  However, there may be an even greater need for brick and mortar businesses to replace human labor with automation and that is from the sheer need to get much leaner in order to survive ...

Read more

With a high taxation and an overbloated welfare system, the EU continues to drive nations into poverty

Democratic Senator and former Presidential candidate Bernie Sanders loves to point towards Europe as a blueprint for his Socialist Utopian agenda.  But like nearly all collectivists, Sanders has no real understanding at all of economics and finance.  And even taking aside the Socialist failures of both Cuba and Venezuela in helping to bring prosperity to their people, the European Union doesn't have that gr ...

Read more

Kentucky Senators co-sign bill to create economic freedom zones in hard hit communities around the country

Since members of both the House and the Senate have chosen to waste their time chasing the false allegations of Russian hacking since Donald Trump entered the White House, very little has been accomplished in dealing with the problems facing the American people.  However on July 14 both Senators from the state of Kentucky appear to be finally getting off their chairs to offer some type of legislation that w ...

Read more

While the state of Illinois’ credit rating teeters just above junk, the City of Harford beats them to the punch

Despite the fact that the state of Illinois finally passed a budget for the first time in three years,  Moody's ratings agency last week stated that it probably won't be enough to keep their credit rating from falling down into Junk status.  And while this eventual move by Moody's will make Illinois the first ever state to fall into that low level of credit stability, over in Connecticut the drop in credit ...

Read more

Italian bank bailouts allowed despite EU rules because governments know you can only inflict a bail-in one time

Rules introduced by the EU last year forbid taxpayer money being used to rescue lenders without investors also taking a hit. But investors are to be protected under the deal pulled together by Rome and approved by the European Commission. - Express Over the past two weeks, the Italian government was given permission by the ECB to bailout three banks despite the fact that current rules within the European Un ...

Read more

© 2012 Secrets of the Fed