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The Department of Veterans Affairs (VA) may well shut hospitals next month because of a $2.5 billion gap in its current year’s budget. Blaming veterans’ increased demand for healthcare, the VA also admitted that it has a further funding gap for the year’s budget ending September 30. They say they have no option at the […]

Janet Yellen, the Federal Reserve chairwoman, today repeated her view that the U.S. government will be in a position to raise interest rates this year. Today, at a speech given to the City Club of Cleveland in Ohio, she said it was appropriate to begin “normalizing” monetary policy this year, as she was confident the […]

In just the last 3 weeks, a massive $3 trillion has been wiped off the value of shares in the Chinese stock market, amounting to 30% of their total value (as a comparison, this is 7 times the total debt of Greece). 1,300 listed companies, over 40% of the market, have actually suspended share-trading. Following […]

Simultaneously-released data from the Labor Department and the Commerce Department, respectively, may give the Federal Reserve reason to delay an interest rate rise this September, as many analysts were predicting. The labor force participation rate is down to its lowest level since 1977, primarily due to a 432,000 reduction in the number of people either […]

Greece’s participation within the currency of the euro is looking more precarious by the hour, let alone the day. Nothing has come from months of European negotiations and, today, police in central Athens were forced to use tear-gas on demonstrators. The people of Greece have no access to regular banking as the banks are shut. […]

The Asian Infrastructure Investment Bank (AIIB), set up with the sole Chinese intention of rivaling the World Bank and the Asian Development Bank, has held its official signing ceremony. Opposed strongly by the U.S. and Japan, the AIIB held the official ceremony that witnessed the signing of articles regarding members’ shares and the bank’s initial […]

The third (and presumably last) estimate of U.S. economic growth by the Bureau of Economic Analysis (BEA), released on Wednesday, for first quarter (Q1) 2015, showed a significant hit from current trade deficits. Nearly 2 full percentage points had to be factored into the revised Q1 rate of -0.2%, meaning the economy actually contracted when […]

New banking regulations are setting up the financial industry for bank bail-ins and massive depositor losses. The only way to protect your money could be to get it in hand and preferably out of assets tied to the U.S. dollar or any of the world’s 180 fiat currencies.   Most Americans are still fuming over […]

The “2015 Long-Term Budget Outlook”, as published this month by the Congressional Budget Office (CBO), has reported that deficits (publicly-held federal debts) have not been higher since World War II. Currently, they are equal to 74% of our Gross Domestic Product (GDP). That, unfortunately, is not the end of the story. The CBO predicts this […]

The Department of Labor has reported that the rate of inflation within the U.S. rose by 0.4% in May; this was, in most part, pushed upwards by the steep increase in the price of gas. Gas rose by 10.4% – the largest increase since June of 2009. According to the Consumer Price Index Summary, the […]