TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
TRAVELING THE WORLD, WRITING WHAT THE PEOPLE NEED TO KNOW.
Illinois, Maine, Connecticut: the end of the old fiscal year and the failure of numerous states to enter the new one with a budget, means that some of America’s most populous states have seen their local governments grind to a halt overnight until some spending agreement is reached. Now we can also add New Jersey to this Read More…
For the first time in US history a handful of US states are teetering on the edge of bankruptcy. Illinois is about to be downgraded to junk bond status, which will turn its financial problems catastrophic overnight. Illinois cannot possibly pay its accumulated debt, its unpaid Medicaid expenses and its future retirement obligations, so bankruptcy Read More…
The Pentagon overspent between $26 and $28 million on useless camouflage for the Afghan National Army (ANA), a government watchdog study found. Conducted by the Special Investigator General for Afghanistan Reconstruction (SIGAR), the study not only found that between November 2008 and January 2017 the Defense Department purchased uniforms for the ANA without ensuring the suitability of Read More…
A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s private wealth by the year 2021. America’s rich just won’t quit getting richer, Read More…
Last week we reported that as Illinois, a state which now faces over $15 billion in backlogged bills, struggles over the next two weeks to somehow come up with its first budget in three years ahead of a June 30 fiscal year end, and faces an imminent ratings downgrade to junk – the first ever Read More…
The Federal Reserve in the United States just released a new report showing that “Total Household Wealth” in the United States has reached a record $94.8 trillion. That’s an impressive figure. Even more impressive is that Total Household Wealth has increased by $40 trillion since the lows of the Great Recession in 2009. No doubt Read More…