Moody’s, one of the big three credit rating agencies, has announced new rules to be effective on September 1 that bring an additional dose of reality to the size of the funding gaps that currently exist with public pension plans.
In what analysts say is another indication that the economy will get worse in the not-too-distant future, recent filings by billionaire financier George Soros show he dumped virtually all his holdings in major financial companies like JP Morgan, Goldman Sachs, and Citigroup. His multi-billion-dollar U.S. fund also loaded up on gold, with the portfolio now holding more than $130 million worth of the precious metal.
Meanwhile, other experts like legendary investor Jim Rogers are warning of "financial Armageddon" as governments and central banks continue to print and spend currency they don't have. Some economic analysts even believe food and energy systems could collapse along with the economy in an unprecedented global calamity unknown in human history.
Selling lemonade, raw milk, or any other comestible is not a crime. That is the message of the second annual Lemonade Freedom Day. The event, to be held at the U.S. Capitol’s reflecting pool at noon Saturday, is being organized by the groups Lemonade Freedom Day and the Raw Milk Freedom Riders, both of which want the government to stop interfering in voluntary exchanges between food producers and food consumers.
Ten months after stitching together the pieces of the MF Global collapse and bankruptcy in October, 2011, the New York Times reported that criminal investigators aren’t likely to file criminal charges against the prime suspect: CEO Jon Corzine.
The prices that Americans pay for gas at the pump may reach an all-time high this summer. The average price is $3.70 per gallon, which is an increase of 30 cents since July and the climb in price from July to August was 9 percent. The increase is particularly concerning because a reduction in global demand, caused by a persistent world-wide recession, has kept demand for gas relatively low. Some have predicted that the price of gas will reach $3.90 per gallon before Labor Day. Gas prices have risen each month for seven straight months this year.