One week after it was announced that the United States economy added 288,000 jobs in the month of June, which pleased economic analysts and market watchers, the state of Florida was lauded for being one of the leaders in job growth, according to a new report released by ADP and … [Read more...]
Larry Summers says technology revolution will hurt job growth
Advancements in technology and automation in the workforce has transformed the labor market and economy; some say for the better, some say for the worse. Since the time of the Industrial Revolution, machine has assisted workers in many ways and has improved the productivity levels of … [Read more...]
Marc Faber: Asset bubble to burst, U.S. economy not improving
Are asset prices in a bubble? If so, how much longer until that bubble bursts? According to Marc Faber, a legendary investor and editor of the Gloom, Boom & Doom Report, the bubble may already be in the process of blowing up. Speaking in an interview with CNBC on Tuesday, Faber, a … [Read more...]
Software CEO predicts Federal Reserve’s future will be a computer program
If both white and blue collar workers can lose their jobs due to companies investing in automation then why can’t the Federal Reserve System and central banks across the globe experience the same thing? One software executive thinks that’s what the future of banking will look … [Read more...]
Baby Boomers are overweight and not financially prepared
Baby Boomers are on the verge of exiting the labor force in very large numbers, despite the Great Recession wiping out those who were born between the years 1946 and 1964. However, they may not be financially equipped for their long-term care needs, especially considering that a … [Read more...]
Steve Forbes: Defund IRS to object to Obama’s alleged executive abuse
Since entering the Oval Office, President Obama has been accused of abusing his power and expanding the role of the executive branch by bypassing Congress, signing executive orders and, as his critics accuse of him, possibly using the Internal Revenue Service (IRS) akin to President … [Read more...]
GM, Philips nearly bought Pixar, almost stopped ‘Toy Story from being made
Over the years, Pixar has produced some of the greatest animated motion pictures ever made: "A Bug’s Life," "Toy Story," "Finding Nemo," "Monsters, Inc.," "Ratatouille" and much more. What if these films were never made and they never entered the imaginations of children … [Read more...]
ADP survey shows hiring jumped in June as 281,000 jobs added
Is the United States labor market finally starting to match the temperatures in the southeast? A new private survey of businesses suggests that the job market is beginning to heat up, which adds to projections that the U.S. economy is improving. Payroll processor ADP published the … [Read more...]
Janet Yellen confirms she won’t raise interest rates
Since former Federal Reserve Chairs Alan Greenspan and Ben Bernanke imposed artificially record-low interest rates, many investors have sought out riskier investments for greater rates of return. This has led numerous financial analysts and banking officials to call out bubbles in … [Read more...]
Bond sales set historic record thanks to Apple (AAPL), Oracle (ORCL)
Corporate bond sales ascended to a stratospheric new record in the first half of 2014, according to a report published yesterday by the Wall Street Journal, driven in part by massive debt offerings by Apple Inc. (NASDAQ:AAPL) and Oracle (NYSE:ORCL). The six month period ending on June … [Read more...]
Why a higher national debt could mean increased income inequality
The United States currently faces a near $17 trillion national debt and its annual debt payments are close to half a trillion dollars. It is projected that if interest rates remain the same then the debt will skyrocket to $1.1 trillion in 10 years. Interest rates are expected to rise, … [Read more...]
Bipartisan report claims climate change will cost U.S. billions of dollars a year
A new report entitled "Risky Business" authored by a bipartisan group commissioned by New York City Mayor Michael Bloomberg, former Secretary of the Treasury and Goldman Sachs alum Henry Paulson, and environmentalist and financier Tom Steyer claims climate change will cost the United … [Read more...]
Nearly half of Canadian baby boomers fear outliving retirement savings
It’s no secret that we’re all living longer than previous generations. With advancements in healthcare technology, consumer awareness when it comes to the food we eat and more people quitting smoking, a growing number of seniors are living well into their 70s and 80s. This is … [Read more...]
Staying with your current employer could cost you big time
In today’s intense labor market, there are various kinds of workers: the long-term unemployed, workers who have left the labor force, individuals that want more from the company they work for and those who are extending their years on the job because they were financially wiped out … [Read more...]
German gold reserve will remain in U.S after positive audit
Last year, Germany blew up headlines when its central bank – the Bundesbank – announced that it was planning to repatriate its gold from the United States Federal Reserve, the Bank of England and the Banque de France. The Bundesbank owns nearly $200 billion worth of gold, but only a … [Read more...]
Bulgarian bank First Investment Bank (FIBank) hit by second bank run in one week
A Bulgarian financial institution has been hit by a second run in one week alone. his has prompted banking authorities to issue a statement that would calm the nerves of depositors, who fear their money is in trouble amid reports that the financial system is in disarray. The bank … [Read more...]
Americans spent $185 billion on ‘obli-cation’ trips over past year
Whether we like to not, many of us are compelled to take family vacations for things like weddings, family reunions or invites from friends to experience their new cottage. In today’s economy, this is something that is very difficult to afford and new data says it’s taking a … [Read more...]
Retailers will need to focus on customer service to keep the lights on
The state of the big-box store is constantly changing. Rather than buying a product at the retail price, consumers are shopping around online and getting better deals. In fact, a growing number of consumers are participating in something called "showrooming," a trend whereby customers … [Read more...]
Don’t be shocked when your healthcare costs increase by 6.8 percent this year
In recent years, healthcare spending had slightly slowed down because of the recession, which caused consumers to become more cost conscious and to spend less on their medical needs. The Obama administration had attributed this healthcare spending reduction to the Affordable Care Act … [Read more...]
White House says economy would improve if workplace was family-friendly
The United States labor force participation rate stands at a 36-year low as the Bureau of Labor Statistics (BLS) reported it to be 62.8 percent, down from 63.2 percent in the month of March. The figures could get worse as more Americans give up looking for work, while the number of … [Read more...]
