marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
bankruptcy
10/09/2020
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By Ramon Tomey
Coronavirus pandemic lockdowns worsen the “debt mountain” problem of the American middle class, which is being deliberately CRUSHED
Forty-three-year old Alysse Hopkins and her husband Ian Boschen earned a comfortable living in the suburbs of New York City. Their combined income of $175,000 covered the mortgage, two car leases, student loans, credit cards and the expense of raising two daughters. But Hopkins’ work as a lawyer representing clients in foreclosure cases and personal […]
10/06/2020
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By Ramon Tomey
More than half of US states unable to pay their debts – report
A report examining all 50 U.S. states’ fiscal health found that 39 of these do not have enough money to pay their bills. The eleventh edition of the Financial State of the States report, published by non-profit organization Truth in Accounting (TIA), showed that the total debt among all 50 states amounted to $1.4 trillion […]
04/23/2020
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By JD Heyes
McConnell says he favors allowing states to go bankrupt, but that would mean pensioners get SHAFTED
For decades, mostly Democrat-run states have won favor — and votes — among key political constituencies by padding their pensions. But as the tax base in many of these states dried up as people fled high levies and high prices — Illinois, New Jersey, and Connecticut come to mind — elected leaders were still left […]
04/12/2020
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By Franz Walker
Bankruptcies, unemployment “imminent” as coronavirus continues to batter the US
Economists from the Federal Reserve predict a wave in coronavirus-related bankruptcies in the next 12 months as the U.S. government continues to struggle with when to reopen the economy, and record numbers of people continue to file jobless claims. The claim was made by no less than three economists from The Fed — Juan Sanchez in […]
04/12/2020
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By Mike Adams
Trump’s INSANE-o-nomics: Govt. will pay Americans to sit at home and collect $15 / hour while small businesses collapse from lack of labor during attempted “recovery”
Clarification: The comments about this article led me to realize I didn’t do a good job explaining the timing of all this. The lockdowns are ending May 1st, based on current talk from the White House. Yet the “bailout money” paychecks will keep being paid to people for three additional months (at least), and probably […]
04/03/2020
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By Franz Walker
Jobless claims spike to 6.6 million, doubling last week’s record, as layoffs mount amid coronavirus pandemic
A record-shattering 6.6 million jobless claims were filed last week, according to the Department of Labor’s (DOL) weekly jobless claims report. This is more than double the number reported in the previous week, which itself also broke records. The week before, the DOL already reported a then record-setting 3.2 million jobless claims for the week, thanks to […]
10/08/2019
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By JD Heyes
The pension apocalypse begins as GE freezes benefits for 20,000 employees
One thing the Democrat Left has always been good at is spending other people’s money. Whether it’s Democrat lawmakers spending trillions of dollars our country doesn’t have or their allies in the Left-wing labor union sector forcing companies to expend money in worker benefits beyond what is reasonable, there never seems to be enough money […]
08/04/2019
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By Ethan Huff
ALERT: Free healthcare for illegals would annihilate America with an unstoppable land invasion of impoverished masses
The several dozen Democrats currently vying for the presidency in 2020 seem to be trying to out-crazy each other by promising the most outlandish things if they’re elected, including free healthcare for illegal aliens. But a former presidential adviser warns that, should this ever actually happen, it’ll spell the end of America for everyone. Doug […]
04/13/2019
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By News Editors
What went wrong with pensions — and why the whole world should be worried
The past decade was a uniquely smooth stretch of financial highway. Pretty much every major asset class – stocks, bonds, real estate, fine art, you name it – did well, making it hard for conventional investors to lose money and easy for them to earn outsized returns. (Article by John Rubino republished from DollarCollapse.com) So […]
07/09/2017
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By JD Heyes
Bankrupt Illinois just body-slammed citizens as legislature approved whopping 32 PERCENT hike in income taxes, but it won’t stop the fiscal COLLAPSE
They say desperate times call for desperate measures, but oftentimes being desperate leads to incredibly bad decisions. And the Democrat-controlled Illinois Legislature just made one. On Thursday the legislature finally passed a budget — its first since 2015 — by overriding Republican Gov. Bruce Rauner’s veto. The governor’s big hang-up with it? The budget proposal […]
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