By Juliegrace Brufke Puerto Rico defaulted on most of its $422 million debt payment Monday, but will continue its negotiations in an attempt to try and work out a deal. The Government Development Bank (GDB) reached an agreement with several of its creditors just prior to its announcement it wouldn’t pay the majority of what it owes, according…
Craig Steven Wright is Satoshi Nakamoto by Joey Clark After years of speculation, Australian entrepreneur Craig Wright has revealed himself to be Satoshi Nakamoto, the creator of Bitcoin. In an interview with the BBC, Wright claims, “I was the main part of it, but other people helped me,” including the now deceased Hal Finney, a world…
By Kathryn Watson Federal officials spend more tax dollars on Section 8 housing vouchers than they do on cash welfare, and the program often perpetuates poverty rather than alleviating it, according to an urban housing expert. “Its incentives are completely skewed,” Howard Husock, vice president for policy research and director of the Social Entrepreneurship Initiative at…
By Connor D. Wolf Raising the minimum wage actually does little to address poverty since most poor people are unemployed, a report published Thursday concluded. Democrats have push for laws to increase the minimum wage as a way to help people rise above the poverty line, while opposition warns such increases come with unintended economic…
Texas nursing home caregivers are starting to migrate en masse away from their long-held positions and toward jobs in the fast food industry. Why? Well, according to Kron4 News: Texas has one of the lowest Medicaid reimbursement rates, which makes it difficult for nursing homes and service providers to offer competitive wages. “You know, you…
Blake Neff Wisconsin’s new right-to-work law, one of the signature achievements of Gov. Scott Walker, has been thrown out by a state judge who says the law violates the state constitution. Judge William Foust said in his ruling the right-to-work law, which prohibits unions from collecting dues from non-members, is an illegal “taking” of…
The President, the Congress, the Federal Reserve, and the rest of the smarty pants experts can sing along with Jiminy Cricket, wishing upon a star to their hearts desire; but I hope they know when their dream comes true, it will unfortunately look like the nightmare they are trying to escape. by Joey Clark …
By Michael Bastasch The Obama administration’s effort to eliminate red tape hampering American businesses has actually ended up adding $16 billion in new regulatory costs and 16 million hours in new paperwork, according to a report. The right-leaning American Action Forum found “executive agencies have added more than $16 billion in regulatory costs, up from $14.7 billion…
Shkreli Concedes on Twitter: Bernie Doesn’t Understand Economics Martin Shkreli, who became the most hated man in America for raising the price of a drug used to combat HIV, has had no shortage of media coverage over the course of several months. From buying the only existing copy of a Wu Tang Clan album for millions of…
By Michael Bastasch New car prices fell rapidly during the 2000s until President Barack Obama imposed strict fuel economy standards as part of his global warming agenda. Since then, new car prices have dramatically increased. A recent report by the conservative Heritage Foundation confirms what economists predicted for years: top-down regulations on fuel economy have…