Monthly Archives: March 2013

Just before the Sequester, the Truman was scheduled to depart Norfolk for the Persian Gulf. The Pentagon canceled the trip just days before the ship set sail. Officials claimed that sending the carrier on a six-month cruise would empty their accounts. President Obama explained, “The threat of these cuts has forced the Navy to cancel the deployment. Only Congress has the power to pass a law that stops these damaging cuts and replaces them with more sensible alternatives.” It’s a … Continue reading →

One Powerball ticket worth $338.3 million was sold in a New Jersey convenience store this past week. What’s more, another customer hit five numbers and won $1 million in the same store a month earlier. The store that sells the winning ticket gets $10K for itself, but the winner? The lump sum cash payout on this $338.3 million ticket will be $221 million. There were also tickets that matched five numbers in Iowa, which is worth $2 million, and then … Continue reading →

The Federal Reserve has adjusted expectations for the 2013 economic outlook, and is now predicting that while unemployment numbers will decline to between 7.5% and 7.3%, the economy itself will only grow by between 2.3% and 2.8%. What the heck does that mean? Federal Reserve Chairman Ben Bernanke explains with caution that strong hiring may not be here to stay; and, the deep sequester cuts and international economic issues like those in Greece and Cyprus could further impact America’s economic … Continue reading →

JP Morgan Chase executives have had to testify before Congress for the past several months. The Senate is investigating over $9 billion in losses stemming from bad trading practices in their overseas division. This inquiry is about nine months old, but things have really been heating up lately. One of the biggest financial institutions in the world, JP Morgan Chase has had issues with questionable risk management practices and oversight policies. Now, they are facing accusations of misleading investors and … Continue reading →

Recently at the annual Consumer Electronics Show, this year held in Manila, the next generation of tech toys was unveiled as a slew of new gadgets were introduced to the world. As expected, many are computer components, and many are smart phones. However a few new cameras also made an appearance. The great thing about this is that these things are no longer rich men’s toys. The vast majority of all electronic goods are well under $10K nowadays, and that … Continue reading →

US military loans are no longer sacred, and servicemen and women are suffering unfair foreclosures. According to the New York Times, hundreds of military homeowners that were current on their payments had their homes repossessed anyway during the housing crisis of 2008-2012. The offending institutions were those of immense bureaucracy that long ago outgrew their personal touch: banks like Bank of America, CitiGroup, and JP Morgan Chase. While the Veterans Administration works hard to ensure that our fighting men and … Continue reading →