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Financial News from The Fiscal Times

  • Even the Pope Wants to Stop ISIS; Shouldn’t Obama? The Fiscal Times - 1 hour 25 minutes ago

    Many members of Congress are fully committed to a bombing campaign. “The threat ISIS poses only grows over time,” Senators McCain and Graham wrote in Sunday’s New York Times. President Obama, who has always stood among the war-weary, wavers per usual. “The irony of the Obama administration, it’s going to get a lot more …

  • ‘Guardians’ Tops 2014 Box Office, but Can’t Save Hollywood’s Summer

    Marvel’s cuddly sci-fi action comedy “Guardians of the Galaxy” surpassed Marvel’s grim “Captain America: The Winter Soldier” this weekend to become the summer’s highest grossing flick. Last year’s “The Hunger Games: Catching Fire” grossed $421 million, while the summer of 2012 saw Joss Whedon’s “Avengers” generate $623 …

  • Obama Hammered on Ukraine, ISIS Delays The Fiscal Times - 15 hours ago
    Obama Hammered on Ukraine, ISIS Delays

    There’s precious little that Republicans and Democrats in Washington can agree on these days. But in a rare show of unity, members of both parties blasted President Obama Sunday morning for not being quicker ...

  • President Obama is taking his time developing a strategy for dealing with the growing threat posed by ISIS – the Islamic State of Iraq and Syria – even as Defense Secretary Chuck Hagel, Sens. John McCain (R-AZ) and Lindsey Graham (R-SC), and others have raised the alarm about the terror group’s potential threats to the …

  • What ISIS Really Wants (Besides Your Head) The Fiscal Times - Sun, Aug 31, 2014 6:00 AM EDT

    President Obama continues to take heat for his comment Thursday, “We don’t have a strategy yet” for dealing with ISIS, the Islamic State of Syria and Iraq. There’s another controversy brewing that may be just as key – and it has to do with how Obama, other world leaders and the press refer to the extremist offshoot of …

  • The Key to Solving Both ISIS and Russian Aggression The Fiscal Times - Sun, Aug 31, 2014 5:45 AM EDT

    The crises in Ukraine and Iraq have little to do with one another. In Ukraine, Russia is exerting its territorial ambitions, while in Iraq, the Islamic State of Iraq and Syria (ISIS) is attempting to build an Islamic caliphate. In Russia’s case, money from the sale of energy to Europe has paid for Moscow’s rise from the …

  • Questioning the Connection Between Poverty and Crime The Fiscal Times - Sun, Aug 31, 2014 5:30 AM EDT

    It's a commonly held belief that there's a direct link between poverty and societal ills like crime and drug abuse. For generations governments and charitable organizations around the world have tried to address such ills in large measure by trying to improve the financial wellbeing of citizens. Amir Sariaslan is a researcher …

  • 9 Foods You Never Thought You Could Grill The Fiscal Times - Fri, Aug 29, 2014 9:15 PM EDT

    With summer quickly coming to a close, this Labor Day weekend may be your last opportunity to grill – so why not get a little crazy? If you're bored with hamburgers, sausages, corn on the cob and peppers, ...

  • 10 Best Spots for Boating Enthusiasts in the U.S. The Fiscal Times - Fri, Aug 29, 2014 1:45 PM EDT
    10 Best Spots for Boating Enthusiasts in the U.S.

    Whether you’re an avid boater or simply enjoy sailing a few weekends a year, purchasing a home in one of the country’s top regions for boaters might be for you.  The Miami area was chosen as the best boating ...

  • Cameron on ISIS: Tougher Talk But Still No Strategy The Fiscal Times - Fri, Aug 29, 2014 12:39 PM EDT
    Cameron on ISIS: Tougher Talk But Still No Strategy

    The contrast between U.K. Prime Minister David Cameron’s speech Friday morning about the threat posed by the terror group ISIS and remarks delivered just one day earlier by President Obama was stark. He denounced the “poisonous ideology” of the Islamist extremist group currently occupying parts of Syria and Iraq and said …

  • How a 15-Year-Old Investor Beat the Market The Fiscal Times - Fri, Aug 29, 2014 11:53 AM EDT
    How a 15-Year-Old Investor Beat the Market

    When her 15-year-old son Michael Finn-Henry set out to invest, it was with modest objectives. “I wanted to understand how the stock market works, because that seems to be where a lot of adults end up making money,” he says.

  • A Radical Way for Ukraine to Fight and Defeat Russia The Fiscal Times - Fri, Aug 29, 2014 9:30 AM EDT

    The image of Russian tanks advancing through southeastern Ukraine should be deeply embarrassing to Americans.  Not because Ukraine is of such vital national interest; In his Thursday press conference on two of the currently unfolding crises, President Obama refused to call the Russian invasion an invasion.  “Invasion” …

  • Obama Plays the Long Game with ISIS and Ukraine The Fiscal Times - Fri, Aug 29, 2014 6:15 AM EDT

    With twin crises raging in Eastern Europe and the Middle East as the month of August winds to a close, the Obama administration on Thursday made clear that it is playing the long game. It will take no hasty actions against the Islamic State of Iraq and Syria (ISIS) – or against Russia, which continued its invasion of Ukraine. …

  • Bill de Blasio vs. Rahm Emanuel on Comcast-Time Warner Deal The Fiscal Times - Fri, Aug 29, 2014 6:00 AM EDT
    Bill de Blasio vs. Rahm Emanuel on Comcast-Time Warner Deal

    The first deadline for interested parties to file formal comments with the Federal Communications Commission regarding the proposed $45 billion merger of Comcast and Time Warner Cable passed earlier this week, and the roster of those who chimed in on the deal was impressive — and, in some regards, impressively divided. …

  • Why We Like ‘Right-to-Work’ Laws More Than Unions The Fiscal Times - Fri, Aug 29, 2014 5:45 AM EDT
    Why We Like ‘Right-to-Work’ Laws More Than Unions

    As another Labor Day rolls around on Monday, a new Gallup survey of Americans’ attitudes about the labor movement shows that just 53 percent still approve of unions and their goals – while the vast majority favors so-called “right to work” laws that have greatly accelerated the decline of private-sector union organizations. …

  • Tax Breaks for Tesla? States Should Think Twice The Fiscal Times - Fri, Aug 29, 2014 5:30 AM EDT
    Tax Breaks for Tesla? States Should Think Twice

    You cannot talk about the corporate tax burden honestly without accounting for these subsidies. Tesla Motors, the electric carmaker, announced plans this year to partner with Panasonic and build a large-scale “Gigafactory” to produce its vehicle batteries. It claims that the factory, which would double world lithium-ion …

  • Another GOP Government Shutdown Could Help the Dems The Fiscal Times - Thu, Aug 28, 2014 2:45 PM EDT
    Another GOP Government Shutdown Could Help the Dems

    Democrats should be popping champagne corks over all the sudden Republican threats of another government shutdown this fall if President Obama acts on his own to overhaul immigration policy.  The current arc of the mid-term campaign narrative suggests that the GOP will narrowly regain control of the Senate for the first …

  • Nearly 35 Million of Us Will Travel This Labor Day The Fiscal Times - Thu, Aug 28, 2014 1:24 PM EDT
    Nearly 35 Million of Us Will Travel This Labor Day

    More Americans will travel this Labor Day weekend than during last year. The vast majority of travelers – 86 percent or 29.7 million people – will take a road trip, while nearly 8 percent of travelers, or 2.65 million, will travel by air, according to data from AAA Travel. The Labor Day holiday travel period this year …

  • People Are Quitting Their Jobs. That’s Good News. The Fiscal Times - Thu, Aug 28, 2014 1:00 PM EDT
    People Are Quitting Their Jobs. That’s Good News.

    Want to make Janet Yellen happy? The Federal Reserve Board Chair watches a lot of economic data as she and her colleagues on the Federal Open Market Committee make their decisions about setting interest rates and winding down the current economic stimulus program.

  • Did Mitt Romney Just Open the Door to Running Again? The Fiscal Times - Thu, Aug 28, 2014 6:15 AM EDT
    Did Mitt Romney Just Open the Door to Running Again?

    A man who has spent as much time on the campaign trail as former Massachusetts Governor Mitt Romney knows how important, and how meaningful, even the slightest adjustment to an oft-repeated statement can be. So it’s hard to believe that the most recent Republican nominee for president didn’t know what he was doing when …

  • Why We’re So Down in the Dumps About the Economy The Fiscal Times - Thu, Aug 28, 2014 6:00 AM EDT
    Why We’re So Down in the Dumps About the Economy

    The Heldrich Center is a leading research think tank that has tracked the economy and the American job force since 1997 and researched the effects of the recession. The new findings are similar to those of other recent polls and studies attempting to plumb the public’s psyche over a long and uneven economic recovery. A …

  • Don’t Trust NATO’s Plan to Counter Putin The Fiscal Times - Thu, Aug 28, 2014 5:45 AM EDT

    As Russia opened a new front in its incursion into Ukraine on Wednesday, sending artillery, infantry and troops across the border near a town called Novoazovsk, NATO Secretary General Anders Fogh Rasmussen outlined a broad new strategy to keep Russia in check. Speaking to six European newspapers, Rasmussen said the alliance …

  • Why Federal Watchdogs Are Barking More about Mergers The Fiscal Times - Thu, Aug 28, 2014 5:30 AM EDT

    Those enforcers at the Justice Department and the Federal Trade Commission, which share jurisdiction over antitrust matters, are more skeptical than ever of claims by aggressive executives that their proposed deal would create a more efficient enterprise. In addition to their heightened scrutiny, the Federal Communications …

  • It Takes a Village of Idiots to Confine Children The Fiscal Times - Thu, Aug 28, 2014 5:15 AM EDT
    It Takes a Village of Idiots to Confine Children

    It never occurred to me that my childhood was a Dickensian horror of child labor, neglect, and endangerment, at least not until recently. My folks would send me to the grocery store to pick up a few items occasionally, trusting that I would do it without a detour.

  • The 7 Best Places to Retire Abroad The Fiscal Times - Wed, Aug 27, 2014 4:45 PM EDT
    The 7 Best Places to Retire Abroad

    If Wyoming, Alaska or Minnesota – the best states for retirement – don’t do it for you, you might want to consider such overseas retirement options as Portugal, Malaysia or Ecuador. “It’s the most affordable option in Europe,” said Kathleen Peddicord, author and publisher of Live and Invest Overseas, a website with information …

  • CBO Warns Anew of Uncontrolled Long-Term Debt Risk The Fiscal Times - Wed, Aug 27, 2014 3:56 PM EDT
    CBO Warns Anew of Uncontrolled Long-Term Debt Risk

    Rejoice! The federal budget deficit continues to fall and likely will total just $506 billion by the end of the current fiscal year.  The economy’s gradual recovery from the 2007–2009 Great Recession, the waning budgetary effects of the stimulus and congressional tightening of federal spending have together reduced the …

  • Uber Revs Its Engines Against a Ride-Sharing Rival The Fiscal Times - Wed, Aug 27, 2014 3:05 PM EDT
    Uber Revs Its Engines Against a Ride-Sharing Rival

    The ride-sharing company Uber has invested a lot of time and PR muscle in cultivating the image of an innovative underdog trying to fight its way past entrenched taxi companies to deliver a better, cheaper customer experience. In an article published yesterday, Casey Newton of The Verge reported on an internal Uber program …

  • Credit Cards May Overtake Cash for Small Purchases The Fiscal Times - Wed, Aug 27, 2014 2:07 PM EDT

    While cash is still king for most of the small purchases we make, millennials in particular are increasing their use of credit cards when they spend less than $5. About two in three credit card holders use cash for purchases of less than $5, but a clear generational divide in how Americans pay for small purchases means …

  • VA Watchdog Finds Outrageous Abuses, but No Direct Link to Deaths The Fiscal Times - Wed, Aug 27, 2014 1:48 PM EDT

    Acting IG Richard J. Griffin and his investigative team documented a nightmare of abuses of patients desperately trying to get in to see a doctor and shocking efforts by VA staff and officials to cover up the long delays, but were “unable to conclusively assert that the absence of timely quality care caused the deaths of …

  • Why Amazon’s $1 Billion Deal for Twitch Was Totally Worth It The Fiscal Times - Wed, Aug 27, 2014 12:45 PM EDT
    Why Amazon’s $1 Billion Deal for Twitch Was Totally Worth It

    Google already had the functionality of YouTube streams and gaming chops with the Google Play store, and it had the money to pony up a rumored billion-dollar offer. Twitch had agreed to be bought by Amazon for $1.1 billion. Those who knew of Twitch were confused as to why it sided with Amazon rather than Google.

  • Rubio’s Rightward Drift on Immigration Continues The Fiscal Times - Wed, Aug 27, 2014 12:09 PM EDT

    In the days when he supported comprehensive immigration reform, Sen. Marco Rubio (R-FL), the son of Cuban immigrants, seemed like the one person who might be able to repair the GOP’s damage to its brand with Hispanic voters. Rubio has already disavowed the immigration compromise that he supported in the Senate last year. …

  • U.S. Military Campaign Against ISIS May Cost $15 Billion a Year The Fiscal Times - Wed, Aug 27, 2014 6:15 AM EDT

    Gordon Adams, a professor of international relations at American University and an expert on defense spending, told The Fiscal Times Tuesday that a realistic guestimate of the cost of an aggressive campaign against ISIS ranges from $10 billion to $15 billion in fiscal 2015. He based this partly on the cost of previous …

  • ISIS Invades Social Media…and Gets Turned Back The Fiscal Times - Wed, Aug 27, 2014 5:45 AM EDT
    ISIS Invades Social Media…and Gets Turned Back

    It’s hard to imagine a more compound irony than this: ISIS, a group dedicated to dragging millions of people back into a centuries-old, religion-based social order, has been using 21st century social media to advance its cause. The Islamic State, also known as ISIS and ISIL, is a group of fundamentalist Sunni Muslims, …

  • Why Obama Ignores Clear and Present Dangers The Fiscal Times - Wed, Aug 27, 2014 5:30 AM EDT
    Why Obama Ignores Clear and Present Dangers

    The horrific attacks of 9/11 emerged from a leadership vacuum similar to the one we are witnessing today. While revisionists (including Hillary Clinton and Madeleine Albright) like to claim that President ...

  • S&P 500 Crosses 2,000: Enjoy It While You Can The Fiscal Times - Wed, Aug 27, 2014 5:15 AM EDT

    The epicenter of the panic attack was the high-yield corporate bond market, which has posted a massive V-shaped rebound in recent weeks to return to the highs hit in June. The economic data is good, but not good enough to force the Fed to bring forward its timing of rate hikes.

  • The 10 Healthiest Fast Food Meals The Fiscal Times - Tue, Aug 26, 2014 5:45 PM EDT

    Want to avoid the ‘fattiest’ fast food in America but can’t quite give up your favorite chain restaurant? Gym chain Gold’s Gym, begun in Venice, California, in 1965, has partnered with well-known British chef Robert Irvine to create the first-ever “Golden Plate Awards,” which selects the 10 healthiest dishes from fast …

  • Obama’s Newest Executive Actions Would Help Vets The Fiscal Times - Tue, Aug 26, 2014 3:06 PM EDT
    Obama’s Newest Executive Actions Would Help Vets

    Already under fire from congressional Republicans for his use of executive actions to achieve policy goals, President Obama used a speech at the annual meeting of the American Legion today to announce 19 more executive actions. The raft of new actions is designed to provide active duty service members with better mental …

  • Ice Bucket Challenge Pulls In Over $88M to ALS Cause The Fiscal Times - Tue, Aug 26, 2014 12:45 PM EDT

    The ALS Association is raising so much money from its now-ubiquitous ice bucket challenge that it’s more than filling the gap left by federal budget cuts that affected ALS research funding in 2011. The federal support for fiscal year 2014, which doesn’t go to the ALS Association but funds ALS research, is $40 million, …

  • Warren Buffett to Help Burger King Avoid ‘Mythical’ Taxes The Fiscal Times - Tue, Aug 26, 2014 12:18 PM EDT
    Warren Buffett to Help Burger King Avoid ‘Mythical’ Taxes

    A couple of years ago, billionaire investor Warren Buffett was making the rounds of cable television business shows talking about how corporate taxation in the U.S. “It's a myth that American corporations are paying 35 percent or anything like it,” Buffett told CNBC. The announcement that Buffett’s company, Berkshire …

  • Trumped Up or Not, Rick Perry’s Indictment Could Derail Him The Fiscal Times - Tue, Aug 26, 2014 6:15 AM EDT
    Trumped Up or Not, Rick Perry’s Indictment Could Derail Him

    When House Majority Leader Tom DeLay (R-TX) was indicted by a Travis County grand jury in September 2005 for allegedly conspiring to sway Texas state elections with corporate money, the longtime GOP lawmaker said the charges were a “sham” and an act of “political retribution” by Democrats that wouldn’t stand up in court. …

  • Time to Focus on Underemployment, Not Unemployment The Fiscal Times - Tue, Aug 26, 2014 6:00 AM EDT
    Time to Focus on Underemployment, Not Unemployment

    Financial journalists and social media-savvy economists will write “table setters” about the monthly jobs release from the Bureau of Labor Statistics, which is due out next Friday morning. By next Thursday night, things will heat up on Twitter, as the same crowd begins offering their over-under predictions for the number …

  • The Rand Paul Doctrine: Don’t Get Involved The Fiscal Times - Tue, Aug 26, 2014 5:45 AM EDT
    The Rand Paul Doctrine: Don’t Get Involved

    At the height of the Iraq crisis, as the Islamic State of Iraq and Syria (ISIS) surrounded a mountain where Iraqi Christians and other minorities had taken refuge, one loud voice on the American public policy scene was silent. As President Obama launched air strikes that eventually allowed the Yazidis to leave Mount Sinjar, …

  • The Threat That Could Scar the Economy for Decades The Fiscal Times - Tue, Aug 26, 2014 5:30 AM EDT
    The Threat That Could Scar the Economy for Decades

    By the best measures of economic health, more than five years after the recession ended the U.S. Economic output remains depressed more than 4 percent below estimates of its potential—what could be produced if the economy were running at full employment and full utilization of other productive resources, such as factories …

  • The 2009 Stimulus Stopped the U.S. From Falling into a Deep Abyss The Fiscal Times - Mon, Aug 25, 2014 8:45 PM EDT
    The 2009 Stimulus Stopped the U.S. From Falling into a Deep Abyss

    In the first months of President Obama’s first term, with the nation mired in what would turn out to be the beginning of the Great Recession, Congress reluctantly passed a bill authorizing $787 billion in stimulus spending meant to jolt the economy back to life.   The American Recovery and Reinvestment Act, as it was called, …

  • California’s Napa Valley Earthquake by the Numbers The Fiscal Times - Mon, Aug 25, 2014 3:45 PM EDT

    The strongest earthquake to hit the San Francisco Bay Area in 25 years has dealt a damaging blow to California’s famed wine country and many of its businesses, residents, and historic Gold Rush-era buildings. ...

  • Sam Bradford Is Exactly Why the NFL Changed Its Rookie Contracts The Fiscal Times - Mon, Aug 25, 2014 2:45 PM EDT

    NFL injuries can be absolutely crushing, in more than one way. Take Sam Bradford's season-ending ligament tear, for example. The St. Louis Rams starting quarterback is out for the season after tearing the anterior cruciate ligament (ACL) in his left knee for the second time in less than a year. Bradford had been the …

  • Washington’s Once-Invincible Economy Sputters The Fiscal Times - Mon, Aug 25, 2014 1:03 PM EDT
    Washington’s Once-Invincible Economy Sputters

    It was once an article of faith that regardless of how bad the economy and job market became, the Washington, D.C., region would be largely exempt from the worst of it.  While other cities staggered through the worst of the Great Recession, Washington and the surrounding suburban jurisdictions were cushioned by the hundreds …

  • Emmys 2014: Win or Lose, It’s Netflix’s Big Night The Fiscal Times - Mon, Aug 25, 2014 1:00 PM EDT
    Emmys 2014: Win or Lose, It’s Netflix’s Big Night

    Tonight, for the 66th time, Hollywood will hand out trophies to the actors, writers, directors and producers who make television great. The Emmys are one of Hollywood’s oldest parties and are as familiar as a rerun; Hollywood will be eager to show that it can still put on a tuxedo and exude the old school glamour that …

  • Superman Comic Book Goes for Sky-High $3.2M The Fiscal Times - Mon, Aug 25, 2014 12:15 PM EDT
    Superman Comic Book Goes for Sky-High $3.2M

    An impeccable copy of Action Comic No.1, the first comic book ever to feature Superman, sold for more than $3.2 million in an eBay auction that closed Sunday evening. It’s the highest price ever paid for a comic book. This sale broke the previous record of $2.1 million, when Nicolas Cage sold his own copy of the same …

  • Financial Advisors Don’t Always Help with 401(k)s The Fiscal Times - Mon, Aug 25, 2014 9:15 AM EDT
    Financial Advisors Don’t Always Help with 401(k)s

    Americans who hire financial advisors typically make higher contributions to their 401(k) retirement plans than those who don’t and generally have clearer financial goals than their peers. With that conclusion hardly seems revelatory, what is surprising is that a hefty portion of those who pay professional financial advisors …

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