Millennials Will Crash the Economy. Good Job!

The only way a financial bubble can end is to collapse. But the more obvious it becomes that the economy is on an unsustainable path, the more vested interests will try to extend it, making the crash even worse. As a result, even though it is going to be grim, signs that they are no longer going to be able to sustain the economy are actually good news. Did you know that 61 percent of Millennials don’t own one credit card? At his Global Economic Analysis blog, Mish quotes from MarketWatch: Read more […]

Pentagon Credit Cards for Hookers May Mean “Stern Warning”

Pentagon credit cards were used to make purchases that had nothing to do with Pentagon business but, at best, were hiding purchases from spouses. Government employees are using their taxpayer-paid credit cards for hookers, gambling, “top-shelf liquor,” personal clothing, iPods, Starbucks, and countless other work-related “necessities”—it’s for the taxpayers, you know! Thus, Politico.com: “Pentagon credit cards used for gambling, escorts.” A Defense Department audit has found that a number Read more […]

The Obama Economy: Over a Third of Americans Dealing with Collection Agencies

Just how bad is the Obama economy? Associated Press reports that, according to a study by the Urban Institute, over 35 percent of people in the United States have unpaid bills or debts that have been turned over to a collection agency. These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even past-due gym membership fees or cellphone contracts can end up with a collection agency, potentially hurting credit scores and job prospects, Read more […]

Credit Card Processor Drops Gun Shop for Selling Guns

The credit card processor Authorize.net, a subsidiary of Visa, has decided to drop one of its clients for being in violation of their service agreement. What was their “violation?” They sell guns. Something that could never be known just by looking at the name of the company:  Hyatt Gun Shop. Apparently, it’s the nation’s largest gun shop. So, Authorize.net claims that Hyatt Gun Shop is in violation of their service agreement, which both parties signed over four years ago, by being a Read more […]