Alternative News

Student Loan Debt Growing, Along With Delinquency Rate

"Total student debt was the only type of household debt that continued to rise throughout the recent recession while most households were de-leveraging, and is now second only to mortgage debt. You’ve probably heard the 'trillion dollar' number in the news. I think the most worrying stat is the increasing rate of defaults. Actual delinquency rates are often understated because almost half of these loans are currently in deferment or in grace periods and therefore are not in the repayment cycle. Among loans that are actually subject to repayment, delinquency rates are over 30% overall and rising." Continue reading →

Continue ReadingStudent Loan Debt Growing, Along With Delinquency Rate

Caterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

"Fraudulent Chinese corporations are nothing new - we have been warning about them since late 2010. One company, however, which apparently was completely unaware of the now pervasive and proven for the past two years Chinese corporate fraud, is US industrial titan Caterpillar. This was made clear when, after hours on Friday night naturally, the company revealed that it had been misled by 'deliberate, multi-year, coordinated accounting misconduct' at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal." Continue reading →

Continue ReadingCaterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

Obama Admin. Ignores Nullification: Federal Agents Will Enforce ObamaCare

"President Obama will not wait on states to enforce ObamaCare. The Obama administration has announced its intent to disregard state laws and state constitutional amendments prohibiting the enforcement of ObamaCare. Federal agents from the Department of Health and Human Services will assume absolute control over states’ health insurance industry and regulation in states that refuse to comply with the federal healthcare mandates." Continue reading →

Continue ReadingObama Admin. Ignores Nullification: Federal Agents Will Enforce ObamaCare

Furor Growing Against Obama Over ‘Monsanto Protection Act’

"The protests come on the heels of a massive petition campaign organized by the advocacy group Food Democracy Now, which gathered the signatures of more than 200,000 people who wanted Obama to veto HR 933 in order to stop Section 735 -- the so-called 'Monsanto Protection Act' -- from being codified into law. But Obama ignored it, instead choosing to sign a bill that effectively bars federal courts from being able to halt the sale or planting of GMO or GE crops and seeds, no matter what health consequences from the consumption of these products may come to light in the future." Continue reading →

Continue ReadingFuror Growing Against Obama Over ‘Monsanto Protection Act’

The Centralization of Intellectual Control Proceeds Apace

"How has publishing in top economics journals changed since 1970? First, annual submissions to the top-5 journals nearly doubled from 1990 to 2012. Second, the total number of articles published in these journals actually declined from 400 per year in the late 1970s to 300 per year most recently. As a result, the acceptance rate has fallen from 15% to 6%, with potential implications for the career progression of young scholars. Third, one journal, the American Economic Review, now accounts for 40% of top-5 publications, up from 25% in the 1970s." Continue reading →

Continue ReadingThe Centralization of Intellectual Control Proceeds Apace

Rise of the Job Scarcity Meme

"What saps employment from an economy is monetary inflation and subsequent busts. Concentrate on reforming the banking system rather than worrying about machinery taking over. Robotics advances technology. The Luddite mentality that advances are destructive and job sapping should have been discarded a century ago. Of course, we notice the solution being advocated by people such as Martin Ford is redistributive. He wants government to get involved in subsidies that support displaced workers. Create a problem and then advocate for a government solution. The equation never seems to vary." Continue reading →

Continue ReadingRise of the Job Scarcity Meme

The Next Domino: Slovenia Government Bond Yields Spike

"The country, another relative newcomer to the euro, is struggling with its own banking problems. The IMF expects Slovenia will have to recapitalize its three largest banks this year, which could cost a billion euros. That will increase Slovenia's budget deficit, which is bad news because the country is already having trouble selling sovereign bonds on the open market in order to finance the government. So, the question is whether Slovenia will be the next EU member state to need a bailout. Slovenia's top central banker, Marjo Kranjec – who also sits on the ECB Governing Council – says it's not going to happen." Continue reading →

Continue ReadingThe Next Domino: Slovenia Government Bond Yields Spike

Cyprus’ New Reality: Cash Society Without Cash

"Cyprus’ sudden acquiescence to demands by international lenders to confiscate 40 percent or more of bank deposits over 100,000 euros ($130,000) and limit withdrawals to 100 euros per day, while keeping the banks shut, has turned much of the country overnight into a fright-filled society with many people unable to get their hands on enough cash to pay for anything except food. Credit cards weren’t being accepted because businesses believe they won’t be paid, making the instruments as worthless as the plastic of which they are made. Checks weren’t being accepted either as Cyprus has become a cash society, even if most people are cashless." Continue reading →

Continue ReadingCyprus’ New Reality: Cash Society Without Cash

Whom to Believe on Gold: Central Banks or Bloomberg?

"Based on current data, the net increase in central bank gold buying for 2012 was 14.8 million troy ounces – and that's before the final 2012 figures are in for all countries. This is a dramatic increase, one bigger than most investors probably realize. To put it in perspective, on a net basis, central banks added more to their reserves last year than since 1964. The net increase – so far – is 17% greater than what was added in 2011, which was itself a year of record buying. Whatever gold's price movements, positive or negative, central bank officials have continued adding a lot of ounces to their reserves." Continue reading →

Continue ReadingWhom to Believe on Gold: Central Banks or Bloomberg?

“Stomp on Jesus’ Name or Flunk My Class,” Says Professor. Student Refuses. Gone!

"A student in a class in the academically peripheral Florida Atlantic University was told by the instructor to stomp on the name of Jesus. Do it, or flunk. The student refused. He then protested to the administration. Result: the student has been told not to attend the class, not to talk to other students, and shut up. This has hit the press. Now there will be a huge stink. Some administrative bureaucrat has defended this action. My guess: if the instructor were white, he would not have his contract renewed. But now the administration is caught between a rock and a hard place. Either it gets accused of racism or it gets accused of blatant stupidity. I love it." Continue reading →

Continue Reading“Stomp on Jesus’ Name or Flunk My Class,” Says Professor. Student Refuses. Gone!