The Governor of Puerto Rico says the U.S. commonwealth territory is simply unable to pay its debt, which now stands at a jaw-dropping $73 billion. Alejandro Garcia Padrilla, inaugurated in January 2013, has called in specialist advisers to work with him, and, rather onerously, one of them is Steven Rhodes,(…)

New Obamacare clients are reportedly “sicker than expected” and insurance companies across the U.S. are seeking increases of 20%-40%+ for 2016 premiums. For example, according to both federal and industry-linked documents now appearing online, Blue Cross and Blue Shield are seeking the following hikes in their rates: 23% in Illinois,(…)

The International Monetary Fund (IMF), who the Greek nation are in default to after Tuesday’s missed loan repayment, have announced today that, under the existing and disputed bailout plans, Greece will need at least a further 50 billion euros over the next three years just to stabilize their economy. The(…)

The Bank of International Settlements (BIS) has published its annual report for 2015, and specifically criticizes the current low interest rate policies of central banks worldwide. Known as the “central bank of central banks,” the BIS stated that now there is simply nowhere to go for the world’s largest financial(…)

The Social Security Administration (SSA) Inspector General (IG) published a report on June 4, stating that a “review of 1,532 beneficiaries in current pay status as of October 2003…. found that over a 10-year period (from October 2003 through February 2014), SSA assessed overpayments for 44.5 percent of sampled beneficiaries.”(…)

The Bureau of Economic Analysis (BEA) today released their third (and final) estimate for the rate of U.S. economic growth during the first quarter of this year. Whilst the economy still contracted, the BEA has revised (again) the rate of this contraction, putting growth at -0.2%. Alarmingly, their report highlights(…)

In mid-June, the Congressional Budget Office (CBO) published its “2015 Long-Term Budget Outlook” and it makes for disturbing reading. According to the CBO, deficits, which are federal debts held by the public, are equivalent to 74% of U.S. Gross Domestic Product (GDP); this is at its highest level since World(…)

Around $3 billion of taxpayer money has been lost from the Obamacare system as payments have been made either to the wrong people or overpaid to the correct ones. “The internal control deficiencies that we identified limited (the Centers for Medicare and Medicaid Services) CMS’s ability to make accurate payments,”(…)

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(…)