Category: Common Cents

Are American Debt Slaves Getting In Trouble Again?

Are American Debt Slaves Getting In Trouble Again?

Authored by Wolf Richter via WolfStreet.com,  The economy depends on them, but they’re cracking. American consumers are holding $1 trillion in revolving credit, mostly in credit card debt. So how well is this segment of consumer debt holding up? Synchrony Financial – GE’s spin-off that issues credit cards for Walmart...

The Great California Earthquake of 2018: First State To Default

By Andrew Solomon If only it were just an earthquake.  We could then just repair some damaged roadways or condemn a couple dozen buildings, then resume our lives.  Maybe the Bay Bridge would need a section reattached.  Or the last letter “D” in Hollywood would tip over.  We’d send over some lumber reinforcements.  No problem.  This...

If you’re mad at Trump for following the tax code, you’re a ‘freaking hypocrite’

If you’re mad at Trump for following the tax code, you’re a ‘freaking hypocrite’

By Robert Laurie I’ve argued, on several occasions that there’s no such thing as a tax loophole.  It simply doesn’t exist.  There’s the tax code as written.  That’s it.  Nothing more, nothing less. The term “tax loophole” is a loaded term used by liberals who want to imply that someone...

Student Debt Crisis: Administrative Costs Grow Twice as Fast

Student Debt Crisis: Administrative Costs Grow Twice as Fast

by CHRISS W. STREET A new study suggests that the student debt crisis was caused by college administrative costs growing twice as fast as other college expenses. Leftists scream that big industry charges high prices, engages in lots of featherbedding, and manipulates the political system for handouts. But they have been...

One Week after Brexit, Only UK Stocks Are Higher

One Week after Brexit, Only UK Stocks Are Higher

by CHRISS W. STREET Despite all the hysteria from media and political elites that claimed the UK would stagnate if British voters passed Brexit to leave the EU, it turns out that UK stocks are higher a week later while the other stock markets are still down. In perhaps the...