Yearly Archives: 2015

As part of China’s plan to open up their financial markets on a global scale, members of the International Monetary Fund (IMF) are currently there to assess the suitability of the Chinese yuan (or renminbi – the people’s currency) to become one of the world’s reserve currencies. Last week, the(…)

All over America, corporations are firing staff and replacing them with “cheaper” workers, particularly in the area of information technology. Furthermore, these staff are being forced to train their replacements prior to unemployment – refusal to do so threatens their expected severance pay. A clear example of this, as recently(…)

This week, the Department of Homeland Security Inspector General released a second Transportation Security Administration (TSA) inspection report concerning the latter’s failure to properly background-check 73 individuals with clear “ties to terrorism”. This resulted in the 73 being given employment at various U.S. airports, some with major airlines. Following on(…)

Three weeks ago, Corinthian Colleges, one of the largest for-profit U.S. educational institutions, was forced to close all of its campuses because of bankruptcy, leaving 78,000 students out in the cold and the government with $200 million of federal student loan debt. Because the government forced Corinthian’s closure, the students(…)

Late last week, it was revealed that the International Monetary Fund (IMF) had serious concerns regarding the U.S. economy and the “over-appreciation” of the dollar. The IMF’s Managing Director, Christine Lagarde, spoke of a lack of “tangible signs of wage or price inflation” and “pockets of vulnerability” within the economy(…)

During the fiscal years 2011 through to 2013, the cost of keeping federal employees on administrative leave whilst they awaited disciplinary action for work-placed malpractice totaled $3.1 billion. At the end of last month, Katherine Archuleta, Director of the U.S. Office of Personnel Management (OPM), reported that the agency would(…)

It is a common occurrence in the Eurozone, and it now appears the U.S. is to follow suit. Using the term “Balance Sheet Utilization Fee”, J.P. Morgan is now charging some customers 1% to deposit their cash with the bank. This is viewed by many financial analysts as a way(…)

President Obama today expressed his continuing confidence in the Transportation Security Administration (TSA), despite recent covert tests where 95% of mock explosives and weapons were allowed through airport security. 70 U.S. airports were involved in the testing, requested by the Homeland Security Inspector General, yet only 3 of those were(…)

After the horrifying Amtrak disaster that killed eight people last week, some members of Congress have decided that one of the causes of the disaster was a lack of funding to the Northeast Corridor route – the spot where the train derailed. House Speaker John Boehner (R-Ohio), however, made it(…)