Forget Europe — the weak U.S. recovery puts more than 750 domestic banks at risk of failure, according to a report from Invictus Consulting Group (via Business Wire). Invictus, which stress tested all FDIC-insured banks, says 758 lenders could collapse in the next three years, forecasting a new wave of borrower defaults in the absence [...]
“There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008,” the report says, explaining that those domestic economic factors would have caused a “normal downturn” but not the “near collapse” of the global economic system that took place. Suspects include financial enemies in Middle Eastern states, [...]
At what cost will China rise? China’s rapid growth is often painted as a threat to American interests. But President Obama said today that the country’s economic progress benefits the United States and opens the door to greater international stability and humanitarian progress. “We welcome China’s rise,” Mr. Obama said at a press conference at [...]
Obama had a WH meeting with regards to START this morning. He said and I paraphrase “Russia has been critical in supporting our mission Afghanistan, securing Russian nuke material, enhancing euro security, as well maintaining strong sanctions with Iran”. Wow. This President is truly out of touch. Russia has sold AKs to those that kill [...]
Welcome to the future, where the Gubment gets paid more than the private sector…your head may explode after reading. Federal employees earn higher average salaries than private-sector workers in more than eight out of 10 occupations, a USA TODAY analysis of federal data finds. Accountants, nurses, chemists, surveyors, cooks, clerks and janitors are among the [...]
File this under Obama gets bitch slapped. “When times are tough, you tighten your belts. You don’t go buying a boat when you’re trying to pay your mortgage. You don’t blow a bunch of cash on Vegas when you’re trying to save on college. You prioritize, you make tough choices.” – President Obama “This president [...]
What’s in the Stimulus Bill – A Breakdown – The Wall Street Journal Online: “Getting to $787 Billion After a month of wrangling, 246 House Democrats, 57 Senate Democrats and three Senate Republicans voted late last week to pass a compromise economic recovery package of spending provisions, tax cuts and aid to laid-off workers and [...]