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Financial News from The Fiscal Times

  • Why Obama Ignores Clear and Present Dangers The Fiscal Times - 37 minutes ago
    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 - 52 minutes ago

    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 - 12 hours ago

    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

    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 …

  • 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

    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

    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 …

  • Burger King in Talks to Turn Canadian The Fiscal Times - Mon, Aug 25, 2014 9:00 AM EDT

    Burger King, the iconic American fast food joint, may soon be taking its creepy crowned mascot and heading north of the border in a deal to reduce its corporate tax rates.

  • Paul Ryan Stakes His Claim As GOP “Unifier” The Fiscal Times - Mon, Aug 25, 2014 6:15 AM EDT
    Paul Ryan Stakes His Claim As GOP “Unifier”

    Congressman Paul Ryan (R-WI), usually so forceful and loquacious about budget details and policy pitches, is coy about 2016 right now.  Sure, the 2014 fall midterms still lie ahead and the GOP field remains muddled – so why should the House Budget Committee Chair stick his neck out? Hillary Clinton, the presumed Democratic …

  • The ISIS Massacre We’re Not Preventing The Fiscal Times - Mon, Aug 25, 2014 5:45 AM EDT

    The world was transfixed by the plight of Iraq’s Yazidi people earlier this month, when fighters from the militant Islamic group ISIS trapped them on a mountainside and U.S. The more than 17,000 people living in the town of Amerli in Western Iraq are under siege and dozens have already died of hunger, dehydration and  …

  • The Surprising Reason Retail Sales Are Set to Rebound The Fiscal Times - Mon, Aug 25, 2014 5:30 AM EDT
    The Surprising Reason Retail Sales Are Set to Rebound

    The good news rolls on: Thanks to a strong dollar and an increase in supply (as well as economic turbulence in Europe and Asia) crude oil prices look set to drop near two-year lows, providing some relief at the pump and freeing up cash to spend elsewhere, a boon to the retail industry. This is all the more surprising given …

  • Want to Resurrect the Grand Bargain? Try Immigration Reform The Fiscal Times - Mon, Aug 25, 2014 5:30 AM EDT

    We don’t hear much about the “Grand Bargain” these days. The idea of achieving long-term budget balance through a mix of entitlement reform and revenue positive tax changes has fallen off the agenda – replaced by overseas emergencies, urban unrest, scandals and election-year politics. Recent sharp declines in the federal …

  • What a Deal Between Ukraine and Russia Could Look Like The Fiscal Times - Mon, Aug 25, 2014 5:15 AM EDT

    All eyes will focus this week on Minsk where Russian President Vladimir Putin will meet his Ukrainian counterpart, Petro Poroshenko. After coming close to armed confrontation over the aid-laden convoy Russia sent into Ukraine’s eastern region last week, the encounter in the Belarus capital Tuesday suddenly and unexpectedly …

  • With ISIS Threat, Some in GOP Want Defense Cuts Repealed The Fiscal Times - Sun, Aug 24, 2014 3:45 PM EDT
    With ISIS Threat, Some in GOP Want Defense Cuts Repealed

    For years, Pentagon officials have publicly grumbled that sequestration, combined with the removal of some $600 billion from the defense budget over the next decade, would decimate the military’s ability to confront enemies around the world. Now, with Russia and Ukraine on the verge of war and as the Islamic State of Iraq …

  • We’re One Step Closer to Boots on the Ground in Iraq The Fiscal Times - Sun, Aug 24, 2014 6:18 AM EDT

    President Obama appears to be taking a very big step on the path toward having American troops in combat in Iraq to go up against the Islamic State of Syria and Iraq (ISIS), the vicious terrorist group now in control of much of western Iraq and eastern Syria.  Fearing a threat from ISIS members who might be holding western …

  • Why Merkel Has the Clout to End the Ukraine Crisis The Fiscal Times - Sun, Aug 24, 2014 6:00 AM EDT
    Why Merkel Has the Clout to End the Ukraine Crisis

    As the crisis in Ukraine continues with Russian President Vladimir Putin’s contempt of the west growing, it’s becoming clear that German Chancellor Angela Merkel will be a key player if the crisis is to be resolved without a wider conflict.  Since the crisis began, Merkel has played the stern headmaster to the United States …

  • Tuna Gets Snagged in Food Safety Tug-of-War The Fiscal Times - Sun, Aug 24, 2014 5:30 AM EDT
    Tuna Gets Snagged in Food Safety Tug-of-War

    Consumer alert: Pregnant women should avoid eating tuna, including tuna salad sandwiches, sushi, and grilled tuna steaks, a new study from Consumer Reports says. “We’re particularly concerned about canned tuna, which is second only to shrimp as the most commonly eaten seafood in the U.S.,” Jean Halloran, director of Food …

  • How James Foley’s Death Changed the Course of Obama’s Foreign Policy The Fiscal Times - Sun, Aug 24, 2014 5:30 AM EDT
    How James Foley’s Death Changed the Course of Obama’s Foreign Policy

    Colin Powell is an American hero.He served two combat tours in Vietnam, and rose to become the first African-American Secretary of State, National Security Advisor, and Chairman of the Joint Chiefs of Staff. The Powell Doctrine is somewhat of a misnomer: It’s actually mostly the Weinberger Doctrine, articulated by President …

  • Silicon Valley’s Average Wage Goes through the Roof The Fiscal Times - Fri, Aug 22, 2014 2:52 PM EDT
    Silicon Valley’s Average Wage Goes through the Roof

    High-tech employees in Silicon Valley remain the highest paid in this industry – while those in San Francisco are seeing the strongest wage growth in the nation, as firms compete for the best talents there. In 2013, the average annual wage for high-tech workers in Silicon Valley was $195,815, according to a recent report …

  • The ISIS Dilemma Confronting Obama The Fiscal Times - Fri, Aug 22, 2014 2:30 PM EDT

    The brutal beheading of American journalist James Foley by a member of the so-called Islamic State this week generated outrage and calls for action against the radical group that has surged across the ...

  • First Superman Comic Book Auction Breaks $2 Million The Fiscal Times - Fri, Aug 22, 2014 11:34 AM EDT
    Superman Comic Book Goes for Sky-High $3.2M

    A pristine copy of the first comic book featuring Superman is on track to set a new record as the most expensive one sold at auction. As of Friday morning, there were different 30 bids for Action Comics No. 1, which is currently being auctioned on eBay, with the highest bid at $2.05 million. This is about $50,000 shy …

  • Why Obama Is the Most Polarizing President Ever The Fiscal Times - Fri, Aug 22, 2014 6:15 AM EDT

    President Obama and members of Congress left for vacation this month with the expectation of relative calm before a resumption of political wrangling this fall over immigration reform and spending measures – and before a critical mid-term election campaign.  With so much going on, The Fiscal Times asked Dan Balz, The Washington …

  • Failure to Rescue Foley Shows Special Ops Limitations The Fiscal Times - Fri, Aug 22, 2014 6:00 AM EDT
    Failure to Rescue Foley Shows Special Ops Limitations

    The failed Special Forces operation to rescue American hostages held by the Islamic State of Syria and Iraq illustrates the limitations of the use of America’s most elite troops on the most difficult missions conducted by the Pentagon. Special Operators - the SEALs in the Navy and the Green Berets and Delta Force in the …

  • Interest Rates Test Yellen’s Powers of Persuasion The Fiscal Times - Fri, Aug 22, 2014 5:45 AM EDT

    Federal Reserve Board Chair Janet Yellen will kick off the annual conference sponsored by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming, with a speech this morning that market participants across the globe will watch closely for signs of changes in the Fed’s interest rate target. The speech – her first …

  • Why Argentina’s Crazy Debt Gambit Could Make Sense The Fiscal Times - Fri, Aug 22, 2014 5:30 AM EDT

    If Argentina were in a high-stakes chess match, the country’s actions this week would be the equivalent of flipping over all the pieces on the board.  For three weeks, Argentina has been in default, unable ...

  • 4 Scams Consumers Must Avoid The Fiscal Times - Fri, Aug 22, 2014 5:30 AM EDT
    4 Scams Consumers Must Avoid

    Scams are on the rise and scammers have become very creative in finding new ways to steal money, rip off sensitive personal and financial information – and even gain access to your online social media accounts. Reports of consumer fraud have increase by more than 60 percent since 2008, while online scams have doubled from …

  • Obama’s Gitmo Transfers Were Illegal, Says GAO The Fiscal Times - Thu, Aug 21, 2014 5:00 PM EDT
    Obama’s Gitmo Transfers Were Illegal, Says GAO

    Critics of President Obama have relished calling him “lawless” and often rely on tortured readings of statutes or even the Constitution to support their point. On June 1, the administration exchanged Bergdahl, who had been held prisoner for nearly five years, for five Taliban prisoners at the U.S.

  • Rick Perry Calls for More U.S. Troops, Airstrikes Against ISIS The Fiscal Times - Thu, Aug 21, 2014 2:30 PM EDT
    Rick Perry Calls for More U.S. Troops, Airstrikes Against ISIS

    In a speech meant to focus on immigration on Thursday, Texas Gov. Rick Perry veered sharply into the arena of foreign policy, calling for a more aggressive U.S. The Obama administration has, to this point, engaged ISIS with limited airstrikes that have helped Kurdish and Iraqi forces retake the strategically vital Mosul …

  • The FDA’s ‘War’ on Artisanal Cheeses The Fiscal Times - Thu, Aug 21, 2014 2:21 PM EDT

    The artisanal cheese world in the U.S. is in danger of crumbling because of regulatory uncertainty from the Food and Drug Administration. At least one cheese maker, Uplands Cheese, has already taken action. ...

  • It May Be Time for Obama to Come Home from Vacation The Fiscal Times - Thu, Aug 21, 2014 1:45 PM EDT

    When British Prime Minister David Cameron learned that a British-sounding ISIS terrorist had beheaded American journalist James Foley, he cut short his vacation in Cornwall and rushed back to London on Wednesday to convene  emergency meetings on the situation in Syria and Iraq. President Obama, by contrast, delivered an …

  • Obama’s 3 Options for Bringing Foley’s Killer to Justice The Fiscal Times - Thu, Aug 21, 2014 6:15 AM EDT

    Now that President Obama has voiced the outrage and disgust that many felt about the murder of American journalists James Foley by an extremist fighting under the banner of the Islamic State of Iraq and Syria, what precisely can he do to punish those responsible for the heinous execution?  “The United States of America …

  • Senate Minority Leader Mitch McConnell (R-KY) famously told National Journal in November 2010, “The single most important thing we want to achieve is for President Obama to be a one-term president.” McConnell and the Republicans failed to deliver on that threat but not before the country was treated to repeated budget …

  • 30 Percent of ‘Retirees’ Would Return to Labor Force The Fiscal Times - Thu, Aug 21, 2014 5:30 AM EDT
    30 Percent of ‘Retirees’ Would Return to Labor Force

    Conducted by Reuters-Ipsos, the survey  asked 7,727 adults about their employment status and their intentions with regard to future work. This is part of the puzzle that Federal Reserve Board Chair  Janet Yellen and her colleagues will be pondering later this week at their annual gathering in Jackson Hole, WY. The theme …

  • How Toxic Fumes on Airplanes Can Impact Your Health The Fiscal Times - Thu, Aug 21, 2014 5:15 AM EDT
    How Toxic Fumes on Airplanes Can Impact Your Health

    After more than 50 years of knowing that the air you breathe on an airplane can be contaminated with hazardous oil fumes, only one type of aircraft, the Boeing 787, has been designed to provide clean air to passengers and crews.  “You could be exposed to oil fumes on a flight tomorrow,” said Judith Anderson, a staff member …

  • James Foley Did Not Die in Vain The Fiscal Times - Thu, Aug 21, 2014 5:15 AM EDT

    Regnery rereleased the seminal Bernard Goldberg book Bias: A CBS Insider Exposes How the Media Distort the News, a broadside against what would be called the “mainstream media” and its ingrained political slant. “Bias provided a clear look at the patterns of editorial bias in choice of stories, journalistic bias in the …

  • The Simpsons Marathon: 15 Episodes You Must Watch This Weekend The Fiscal Times - Thu, Aug 21, 2014 12:15 AM EDT
    The Simpsons Marathon: 15 Episodes You Must Watch This Weekend

    There is no question that The Simpsons is one of - if not THE - behemoth of pop culture. As such, we here at The Fiscal Times have consulted our resident Simpson-ologists and come up with the 15 episodes you absolutely must watch this weekend (we tried to make it 10, but that was unpossible).  For your convenience, we’ve …

  • Proposed Bitcoin Rules Threaten Emerging Digital Currencies The Fiscal Times - Wed, Aug 20, 2014 2:45 PM EDT
    Proposed Bitcoin Rules Threaten Emerging Digital Currencies

    While billions of dollars have been stored in virtual currencies such as Bitcoin few rules exist to govern their use, leaving consumers at risk and opening channels for illicit activities such as money ...

  • Strong Words from Obama on ISIS, but No Promise of Action The Fiscal Times - Wed, Aug 20, 2014 2:11 PM EDT
    Strong Words from Obama on ISIS, but No Promise of Action

    Calling the Islamic State a “cancer” that must be extracted from the Middle East, President Obama on Wednesday strongly condemned the terrorist group’s execution-style murder of American journalist James Foley. Dressed casually in a sports jacket and no tie, Obama continued to refer to the group of terrorists that has …

  • Walmart Wants to Shake Up the Health Care Business The Fiscal Times - Wed, Aug 20, 2014 1:17 PM EDT

    For some, a trip to the doctor might soon involve walking through the snack aisle while a clerk blares “price check” over the loud speaker. That’s because Walmart, the nation’s largest retailer, is looking ...

  • Reporter’s Execution Could Unleash U.S. Against ISIS The Fiscal Times - Wed, Aug 20, 2014 12:15 PM EDT
    How James Foley’s Death Changed the Course of Obama’s Foreign Policy

    The release Tuesday  of a shocking video showing the brutal beheading of American journalist James Foley by a representative of the Islamic State may wind up backfiring on the Islamic fundamentalist movement that has taken over much of Iraq in recent months. “Obama authorized military operations against the Islamic State …

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