Article by 717 Design.com The net worth of American families is shrinking. The median net worth of households grew since 1989 till about 2005 when it started to shrink and today it stands lower than 1989. The loss occurred more rapidly than the time it took to build up the household wealth. Except for 75 […]
The Social Security system in the United States will turn 80 on August 14, 2015. Social Security is the sole source of income for one in four recipients. President Franklin D. Roosevelt signed the Social Security Act into law. But more than half of working Americans doubt that it will be there for them when […]
New government in Greece came into power vowing to renegotiate Greek debt. Greece owes more than $271 billion mainly to the European Central Bank (ECB) and the International Monetary Fund (IMF). An installment of $1.72 billion is due to the IMF at the end of June 2015 and rumors are floating that Greece may default […]
Greece and the European Union (EU) are making headlines again these days. The current government in power in Greece wants to renegotiate bailout money they received from international lenders, the Euro Zone and the International Monetary Fund (IMF). Greeks put the new government in power hoping that austerity measures that make their lives more difficult […]
In February, the popular tax filing software, Turbo Tax found increased fraudulent activity in filing state returns and briefly stopped submitting returns. Taxpayers who were affected by the fraudulent activity were unable to file their state tax returns. More than 19 states were affected by the fraudulent tax filing scheme. How could a hacker file […]
Several months ago it would have been unthinkable. Oil prices continue its slide and hovering less than $50 a barrel for West Texas Intermediate (WTI) crude. However, due to various factors, price at the pump not correlate with the sliding crude prices. What will happen if the prices continue to go lower? A similar slide […]
Many expected Greece to default on its borrowings and even exit the European Union (EU) and the Euro Zone. Much of its bailout money came from the EU and the International Monetary Fund (IMF). Instead, after recent parliamentary election victory by the far-leftist party, Syriza and the new government in Greece is launching a new […]
World oil prices are continuing its slide from a record high of over $130 a barrel of Brent crude in 2008 to a $60 a barrel in early December 2014. It was less than $25 a barrel in 1987. Major economies that are feeling the pinch include oil exporting countries such as Russia, Saudi Arabia, […]
The US production of crude oil is at multi-year high and the country may take the helm as the world’s number one crude oil producer in a few years. The crude oil production boom is created by the technology that helps to extract oil from shale and more stable world crude prices. On the other […]
Next month, August 2014, the Panama Canal will be celebrating 100 years of operation. More than one million ships passed through the gates of it within the last century. The 48 mile long, 110 feet wide canal was opened for service on August 15, 1914. It takes 20 to 30 hours to navigate the canal. […]