OPEC was producing crude oil at top rates to force the U.S. oil shale industry to back off. But oil prices have dropped, and Saudis are now in a financial bind.
California’s pension plans are reporting dismal results, and the fund is now about $100 billion short of meeting its future obligations.
There is a positive in all of the underfinanced public retirement plans: Massive implosions of pension plans will force beneficiaries to become more self-reliant and less dependent upon governments' and politicians' promises.
The Obama administration has loudly touted reports that the U.S. economy has generated 14.1 million new jobs over the past 70 months and now sits at a 5.0 percent unemployment rate, but that's a highly manipulated statistic.
Because of the existence of federal subsidies, farmers are overproducing peanuts, putting taxpayers on the hook for $2 billion.
Walmart's stock selloff has nothing to do with a perceived declining U.S. economy, but everything to do with serving customers.
Three Uber drivers could kill the nascent "gig" or "sharing" economy in its crib by suing to be deemed "employees" of the company, rather than independent contractors.
Minimum wage hikes have provided restaurant owners across the country the opportunity to tackle what many have criticized to be unfair tipping practices. Faced with rising labor costs resulting from minimum wage increases, some owners are raising costs on their foods and services and implementing no-tipping policies to help offset the increased costs for their patrons — a change that some owners are actually welcoming.