- 40% of Americans workers believe they will need over $1 million in savings to retire. Only 20% of workers have saved over $250,000. [Link]
- Bitcoin has reached a new all-time high. Bitcoin is valued at over $1,230. [Link]
- The Dow Jones closed over 20,000 for the first time. [Link]
- A Pittsburg mall once valued at $190 million sells for $100 at a foreclosure action. [Link]
- Millennial’s income is 20% less than the Baby Boomer generation’s income was at the same stage in life. [Link]
- 94% of the jobs created in the Obama economy were not full-time jobs. [Link]
- The percent of men who are in the civilian labor force is down from 87.4% in 1949 to 69% today. [Link]
- The Dallas Police and Fire Pension Fund halts all withdrawals from the fund as too many people were trying to get their share of the pension before the pension was out of money. This announcement came after $500 million had been withdrawn from the fund since August. Dallas police report that many officers have resigned over the past few months because of the problem with the pension fund. [Link]
- New Jersey plans to sell transportation bonds to the state’s pension fund. This is the state of New Jersey lending money to itself. [Link]
- Only half of 30-year-old Americans make more than their parents. In 1970 92% of 30-year-old Americans made more than their parents. [Link]
- 446,000 Americans left the labor force in November. An all-time high of 95.1 million Americans are out of the labor force. [Link]
- Central bank created inflation is leading to deceptively smaller chocolate bars. [Link]
- 69% of Americans have less than $1,000 in savings and 34% have no savings at all. [Link]
- The Dow Jones closes above 19,000 for the first time in history. The S&P 500 also set an all-time high, closing above 2200. [Link]
- Americans have a record amount of student loans and auto loans. Student loans now total $1.396 trillion and $1.098 trillion for auto loans. [Link]
- Since 2014 the US has added 547,000 food service and bartending jobs. During that period, 36,000 manufacturing jobs have been lost. [Link]
- ESPN loses over 600,000 cable subscribers in October. [Link]
- AT&T has agreed to buy Time Warner for $80 billion. [Link]
- A new oil reserve has been found in Alaska. The reserve is believed to contain up to 6 billion barrels of oil. [Link]
- Caterpillar will cut 5,000 jobs before the end of 2016 and 10,000 by 2018. [Link]
- Anti-price gouging laws are hurting those in the path of Hurricane Matthew. [Link]
- US farmers will receive $7 billion in subsidies in 2016. That is roughly 10% of the total income for US farmers. [Link]
- Harvard University endowment fund loses 2% in the fiscal year 2016. This is the largest loss for the endowment since the 2009 financial crisis. [Link]
- David Stockman, Director of US Budget under Reagan, makes an appearance on the Tom Woods Show to talk about the US economy and Trump. Stockman reports that the US has lost 1.4 million breadwinner jobs since 2000. [Link]
- President Obama has repeatedly attacked payday lenders. He has called the industry predatory and that it takes advantage of the poor. Consumers of payday lenders strongly disagree. Payday lenders often have a 98% positive view from consumers. [Link]
- The Obama economy is struggling to add manufacturing jobs. There are now nearly 10 million more government jobs than manufacturing jobs or 1.8 government jobs to every 1 manufacturing job. [Link] The number of people working in leisure/hospitality outnumber manufacturing workers by 3.3 million. The number of Americans working in food service/bars equal the number of Americans working in manufacturing. [Link]
- The sluggish US economy is not able to produce enough growth to pay out entitlements. Illinois pension funds continues to show a lack of promise, as yearly growth expectations drop from 7.5% to 7%. This means the state will need to find an extra 400-500 million dollars to make up the difference. This will likely fall on to the backs of taxpayers. [Link]
- Under President Obama, The US Federal Government has collected $20 trillion in taxes and borrowed $9 trillion in new debt. [Link]. Here is a graphic to show just what $29 trillion looks like. [Link]
- The UN is pushing countries to increase the tax on meat. The goal of the UN is to tax meat so highly that people stop eating meat. [Link]
- The FDA just put absurd regulations on the e-cigarette industry that will likely kill most of the e-cigarette companies. The new regulations, that were pushed by big tobacco, were not passed by congress or any elected officials. The regulations are also questionable as they are extensions of regulations placed on tobacco productions and e-cigarettes contain no tobacco. [Link]
- This graph show trouble ahead for the US Economy. When the Federal Reserve Bank prints a lot of money, it creates high stock prices. Those high prices outpace productivity and must eventually come back down to the level of productivity. [Link]
- Aetna is reporting it is losing $300 million each year on Obamacare insurance plans. Aetna operates Obamacare plans in 15 states and is now thinking of backing out of providing Obamacare plans. UnitedHealth, the country’s largest health insurer, made similar statements earlier this year. [Link]
- Almost Perfect Book Store is one of the first casualties of California’s minimum wage law. Governor, Jerry Brown, signed a law that will increase the minimum wage to $15 an hour by 2020. The current minimum wage in CA is $10. Almost Perfect owner, Kelly Ulmer, said, “There’s literately no place to absorb the cost.” The employees would like to keep working at Almost Prefect, but are not legally allowed to agree to work for a wage that will allow the store to remain open. [Link]
- The Cherry Industry Administration, is a bureaucratic organization written into the federal code. The Cherry Industry Administration forces cherry farmers to waste tens of thousands of pounds of cherries each year. The farmers have to just throw the cherries on the ground to rot, the cannot even be donated. [Link]
- David Stockman believes the price of crude oil is going to drop. He uses several graphs to show how much more oil is being produce than in years past. He also shows that there is more oil in US markets than in recent years. [Link]
- With the real economy struggling and the FED unable to lower interest rates, they are looking to use massive stimulus to “accelerate” the economy. The FED member described using Helicopter Money, or just money dumped on the economy, to get it going again. Read Here.
- Consumer debt added 19 billion dollars in May. Most of that debt was in student and car loans. The debt seems to taken out by the younger generations, whit parents using their credit. Read Here.
- Erik Peters breaks down why car emissions standards are pointless and achieve nothing.Read Here.
- Foreign investors are fleeing from the US real estate market. This will likely lead to downward pressure on US housing prices. Read Here.
- Young college students are being busted on small pot changers and bullied into becoming informants by police. Police threaten these students with decades in prison for selling less than $60.00 of marijuana. To avoid spending a life in jail, the students become informants and end up dead. Read the tragic stories here.
- Obama’s war on coal has destroyed the coal industry in the US. The top coal companies have lost 99.9% of their values since the president took office. Now the top US coal company will lay off 80% of its work forces. Obama’s war on coal has cost many American’s their jobs and has caused all Americans to struggle with higher energy bills. Read Here.
- Central banks are turning Western Economies into socialist states. Through quantitative easing (QE), central banks around the world have bought a significant amount of stock in companies and provide almost all the capital for loans. As this trend grows, it will give the national governments more and more control over the actions of once private companies and individuals. Read Here.
- The US Government spent 1.3 billion dollars of your tax dollars on a failed program. The program was designed to detect biological weapons. For your 1.3 billion, the government was not able to detect any biological weapons, however, the sensors did detect a dead rabbit. Read Here.