Hordes Of Anti-Trump Democrats Are Lining Up To Run For Congress In 2018

If Republicans don’t wake up, there is a very real possibility that we could lose control of the House of Representatives in 2018. And if that happens, Donald Trump’s agenda will be dead in the water because the Democrats will use their majority to block everything. Trump’s surprise election victory last November was perhaps the single most galvanizing moment for grassroots Democrats in this generation. Just as the election of Barack Obama gave rise to the Tea Party movement, we are now seeing a tremendous amount of energy among liberals all over the nation. If Republicans cannot match this energy, we are going to be in for quite a shock in November 2018. (Read More...)

The Republicans In Congress Have Betrayed Us Again

I guess by now we should be accustomed to politicians lying to us. For years, Republicans have been promising to repeal Obamacare if we would just give them control of the White House, the Senate and the House of Representatives. We did that, and now they are breaking that promise. Because even if “Obamacare 2.0” miraculously gets through the Senate, most of the essential elements of Obamacare will survive. If you look at the latest Senate bill, most of the Obamacare subsidies are still in there, many of the Obamacare taxes are still in there, and most of the Obamacare regulations are still in there. On top of everything else, the bill would create an absolutely massive health insurance company bailout superfund, and that is something that the Democrats never even dared to do. The bill being pushed by Senate Majority Leader Mitch McConnell wouldn’t actually fix much of anything, and it certainly cannot be called a “repeal” of Obamacare. (Read More...)

5 Trends That Are Destroying The Middle Class In America

The middle class in America has been shrinking for decades, and our leaders seem powerless to do anything about it. Two years ago, the middle class became a minority in this country for the first time ever. In other words, the middle class now accounts for less than 50 percent of the population. But back in the early 1970s, the middle class made up more than 60 percent of the population. I have often compared being in the middle class to playing a really bizarre game of musical chairs. When the music stops playing each month, more chairs are being pulled out of the middle class, and most of us are just hoping that we will still have a chair for the next go around. (Read More...)

A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

Italy Banner - Public DomainThe Italian financial meltdown that we have been waiting for has finally arrived. For quite a long time I have been warning my readers to watch Italy, and now people are starting to understand why. Italian banking stocks continued their collapse for a fifth consecutive day on Wednesday, and nervous Italians are beginning to quietly pull large amounts of money out of the banks. In particular, Monte dei Paschi is a complete and utter basket case at this point. A staggering one-third of their loans are “non-performing”, and the stock price has fallen a staggering 57 percent since 2016 began. Monte dei Paschi is going to need a major bailout, and the same thing could be said about almost all of the largest Italian banks. But where is the money going to come from? (Read More...)

The Economic And Financial Problems In Europe Are Only Just Beginning…

Euro Gears - Public DomainRight now, the financial world is focused on the breathtaking stock market crash in China, but don’t forget to keep an eye on what is happening in Europe.  Collectively, the European Union has a larger population than the United States, a larger economy than either the U.S. or China, and the banking system in Europe is the biggest on the planet by far.  So what happens in Europe really matters, and at this point the European economy is absolutely primed for a meltdown.  European debt levels have never been higher, European banks are absolutely loaded with non-performing loans and high-risk derivatives, and the unemployment rate in the eurozone is currently more than double the unemployment rate in the United States.  In all the euphoria surrounding the “deal” that temporarily kept Greece in the eurozone, I think that people have forgotten that the economic and financial fundamentals in Europe have continued to deteriorate.  Whether Greece ultimately leaves the eurozone or not, a great financial crisis is inevitably coming to Europe.  It is just a matter of time. (Read More...)

The Last Housing Crash Is Not Even Over But Bernanke Is Already Setting The Stage For The Next One

Federal Reserve Chairman Ben Bernanke is determined to push mortgage rates to record low levels and he is encouraging the banks that the Fed regulates to make home loans more freely.  Wait a second – isn’t that exactly what caused the last housing bubble?  After 9/11, the Federal Reserve slashed interest rates and this caused mortgage rates to steadily fall.  Financial institutions were urged to help “expand home ownership” in America, and many of them started making home loans to people who never, ever should have gotten home loans.  When mortgage rates started to go back up, millions of families with adjustable rate mortgages discovered that they could not make their monthly payments.  Mortgage delinquencies absolutely soared and large numbers of mortgage-backed securities suddenly turned into garbage.  So what is the Fed doing about it?  The Fed recently announced another round of quantitative easing in which it will buy 40 billion dollars worth of these mortgage-backed securities a month.  Essentially the Fed is clearing the bad financial paper out of the system and is creating the conditions for another housing bubble.  But will we really fix our problems by going back and doing the same things that got us into trouble in the first place? (Read More...)

19 Things That All High School Students Should Be Told Before They Go To College

Don’t you wish that someone had told you the truth before you went to college?  Don’t you wish that someone had told you that college has become a giant money making scam that is designed to drain as much money out of students and parents as possible?  Yes, college can be a profitable endeavor if you pick your field of study wisely, if you can get someone else to pay for at least some of it and if you can actually get a good job in that field when you graduate.  But most high school students are never told to weigh the pros and the cons before they run off to college.  The typical high school student is simply told to get into the “best school” that he or she can and to take out whatever loans are “necessary” to pay for that education.  Our high school students are assured that those student loans will be paid back easily once they get “good jobs” following graduation.  But the truth is that there are some other things that high school students should be told before they go off to college as well.  They should be told that student loan debt can cripple them financially for decades.  They should be told that the quality of education at most U.S. colleges and universities is a total joke.  They should be told that most college graduates do not get a “good job” once they graduate these days.  They should be told that after they receive their diplomas they are likely to end up flat broke, waiting tables and living with their parents. (Read More...)