As Debt Spirals into Trillions, Trump Backers Call for Law to Make Tax Cuts Permanent

Gary Cohn, the Goldman Sachs banker turned advisor to President Trump and now former head of the National Economic Council, says that personal tax cuts passed in recent tax overhaul legislation should be made permanent. The Tax Cuts and Jobs Act of 2017 made deep cuts to both corporate and individual tax rates, but only the […]

Californians Revolt Against $5K Monthly Rents, Bet On Ballot Measure to Halt Crisis

Renters in the Golden State have had enough. They’ve collected more than enough signatures to put rent control on the ballot this fall. The Costa Hawkins Rental Housing Act passed in 1995. The law made it illegal for a number of Californian cities to exert rent control on structures built after 1995. The law retroactively […]

Financial Abuse of Elderly Mushrooming, What to Do Now to Protect Yourself

Elder abuse perpetrated by financial scams are on the rise, to the tune of about $37 billion dollars every year. According to a study by New York State’s Office of Children and Family Services, over 5 million senior citizens are victimized by financial scams. The study’s authors called the figure “grossly underestimated.” For every instance […]

A Startling Amount of Bitcoin Owned by Global Elites Is Literally Buried Underground

A four-year-old startup with a funny name holds about $10 billion dollars’ worth of Bitcoin — about 7% of all Bitcoin in existence — in impenetrable bunkers around the world. Because rich people want it that way. The company, Xapo, is the brainchild of serial web entrepreneur Wences Casares. His clientele includes millionaires and billionaires that […]

If History Is Any Guide, It’s Time to Bail On Stocks for the Summer

During the past few months, investors have had to contend with market volatility, an increase in interest rates and uncertainty about the direction of the yield curve and the stock market. To complicate matters, those looking to take short-term profits presently face another unknown variable: May through November has historically been a six-month weak stretch […]

Overdrawn: German Banking Giant Pays Out $35 Billion in Error

Deutsche Bank, Germany’s largest bank, accidently issued $35 billion to an international exchange that wasn’t owed. The event is almost too staggering to comprehend. The market value of Deutsche bank itself is only $30 billion. Representative from Deutsche Bank categorized the event as an “operational error.” The colossal financial blunder occurred in late March 2018. The mistakenly […]

How Much You Will Pay for Healthcare in Retirement, Beyond Medicare

A report by Fidelity Investments reveals that a healthy couple retiring in 2018 need more than $280,000 to cover post-retirement medical expenses. That number is an increase of nearly 2% over 2017, when it was $275,000, yet the smallest increase in post-retirement medical expenses since 2014. The rising costs in post-retirement medical expenses can be […]

Trump Tax Cut Will Push Stocks 20% Higher, Then Recession: Analyst

Stocks will continue rising by about 20% for the next 18 months, after which a recession will hit in 2020. That’s according to Scott Minerd, the global chief investment officer for mutual fund company Guggenheim Partners. Minerd made the comments while speaking at the 2018 Milken Global Investment Conference in Los Angeles. According to Minerd, […]

Is Your State On the Hook for Billions in Unfunded State Worker Pensions?

Thanks to overly optimistic projections and plain old politics, a number of U.S. states cannot keep up with pension payment promised to millions of public sector employees. From 2015 to 2016, the pension payout shortfall owed by states grew by more than $295 billion dollars, reports the Pew Charitable Trusts. Currently, most American states that owe pension […]

Thousands Jobless On Wall Street After Robots Take Over, Predict Experts

Over half of American finance sector jobs may be replaced by next generation artificial intelligence technology within a decade. Financial technology and industry experts are predicting the mass turnover from human employees to artificial intelligence (AI) will happen. James D’Arezzo, CEO of Glendale, California-based Condusiv Technologies notes that the financial industry is beset already by “a […]