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End of the middle class and the Fed explained: video
If an alien from planet Zenon lived amongst humans for some time and then explained the end of the middle class and how the Federal Reserve works to a second alien, it might sound something like this.
Just something sad but true in celebration of T.G.I.F. (that’s ‘Thank God It’s Friday’, in case you don’t read text or Newspeak).Read more »
Many people call the "health care" penalty/tax unconstitutional. SCOTUS somehow calls it a "tax", in a (pathetic) effort to legitimize the legislation.Read more »
MicCheckWallStreet, an offshoot of the Occupy movement, staged the demonstration at 5pm. The group's website declared that it is "time we declared independence from Citizens United" – citing the supreme court case which effectively ruled that corporations can make political contributions. A video posted to YouTube shows two people tossing the cash – which MicCheckWallStreet said was in $1 and $5 bills – out of a window above downtown Seattle. The group had signalled its intentions on its website, asking for donations to a wepay.com account.Read more »
Pulling A Fast One About Capitalism Causing All The Mess In The EconomyRead more »
If the standard financial wisdom is true – that surviving a financial catastrophe requires a 6-month cache of emergency savings – then two-thirds of Americans may be in for a nasty surprise.
Only a quarter of U.S. adults have more than six months of funds set aside and readily accessible for such disasters; 28% had none at all, according to Bankrate.com.Read more »
Secretive Internet currency’s server hacked; money stolen
Upwards of $90,000 worth of Bitcoins have been stolen from an exchange service website this week, marking the second time in nearly two months that the cyber-currency has been compromised due to a security breach.Read more »
Euro Officials Begin to Weigh Greek Exit From Common Currency
Greece’s possible exit from the euro area moved to the center of Europe’s debt-crisis debate, with officials beginning to weigh the fallout of a withdrawal even as authorities in Athens struggled to form a government.Read more »
Daniel Suelo hasn't made a penny in 12 years. He hasn't spent a penny either. He is the subject of the book "The Man Who Quit Money," by Mark Sundeen. In 2000, Suelo had $30 to his name. He left the money in a phone booth and never looked back. Since then, Suelo has lived on public lands, foraging in dumpsters and canyons for food. He welcomes the generosity of others. He doesn't pay taxes. Doesn't accept any form of government welfare. And appears relatively happy. "He is not suggesting or encouraging that anyone else live like him," Sundeen told Brown.Read more »
Half of College Grads Under 25 are Unemployed or Underemployed
Recent projections have job prospects improving for 2012's college graduates. But there's a lot more room for improvement than we're likely to see:
About 1.5 million, or 53.6 percent, of bachelor's degree-holders under the age of 25 last year were jobless or underemployed, the highest share in at least 11 years. In 2000, the share was at a low of 41 percent, before the dot-com bust erased job gains for college graduates in the telecommunications and IT fields.Read more »
Can You Fix the U.S. Budget? Test Yourself
If you haven't tried The New York Times's Budget Puzzle yet, give it a shot. It's a quick interactive exercise that lets you make all the hard decisions (or easy, politically unpopular decisions, as the case may be) to see if you can come up with a combination of cuts and taxes that balance the books.Read more »
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