How to Profit From the New Recession

Jul 7, 2014, 2:19 pm EST

Prepare for recession, round two.

First-quarter GDP has been revised twice. First it went from flat to -1.0%, and then was revised down again to an astonishing -2.9%. As Dr. Charles Krauthammer said in a recent interview, everyone is blaming it on the weather, as if we never have bad weather. True, this was a brutal season in regards to snow, but not so awful that it would shrink GDP by this much.

The Obama Administration has mismanaged economic policy from the outset. I’ll let other pundits determine the reason, but there are multiple glaring atrocities in regards to economic policy that have led us to this point. Read 

SBA Loans – A Crisis Is on the Way

Jul 2, 2014, 9:30 am EST

Let’s refresh our memories regarding the origin of the mortgage crisis. There had always been pressure on the federal government to make home ownership “more affordable” by loosening underwriting standards, beginning with the Community Reinvestment Act. This act was repeatedly revised, but the thrust of it was to allegedly reduce redlining of mortgage applications based on race.

Make no mistake: There is no room for race being a factor in the granting of credit. What matters with credit is nothing more nor less than a borrower’s ability to repay a loan. That comes in the form of quantitative analysis and risk management. When politics gets involved, only bad things can happen.

And they did. Read 

Supreme Court Ruling: Employers Can Refuse to Pay for Birth Control

Jun 30, 2014, 11:44 am EST

In a 5-4 decision handed down on Monday, the U.S. Supreme Court ruled in favor of a company that objected to paying for workers’ birth control under an Affordable Care Act mandate. Source: Flickr

Hobby Lobby, owned by a Christian family, argued that forcing it to pay for birth control under employee health insurance infringed on its religious rights. The court’s conservative justices agreed, finding that closely-held companies like Hobby Lobby would have their free exercise of religion mitigated by the law, USA TODAY notes.

However, the majority limited the scope of its ruling to companies owned by a small group of people, like Hobby Lobby. The majority also noted that the Obama administration has already created a work-around to provide contraceptive coverage to women who work for religious non-profits, under which insurers pay for the birth control. Read 

IKEA to Raise Minimum Wage to $10.76 in All US Stores

Jun 26, 2014, 12:02 pm EST

Furniture retailer IKEA plans to boost the minimum wage it pays its workers in the U.S.

IKEA currently pays a minimum wage of $9.17 per hour to workers in the 38 stores it operates in the U.S, substantially higher than the federal minimum wage of $7.25 per hour. IKEA will raise its minimum wage to $10.76 an hour, USA TODAY notes.

An IKEA executive says the retailer is hiking its minimum wage because it wants to “create a better everyday life for our coworkers.” Read 

Supreme Court: Cellphone Searches Illegal Without Warrant

Jun 25, 2014, 4:44 pm EST

The Supreme Court, ruled on Wednesday, that it’s illegal for police to search a person’s cellphone without a warrant.

The Supreme Court justices came to a unanimous decision regarding cellphones needing a warrant to be searched. The justices stated that a cellphone was much more than a simple social convenience and that it could hold private information, reports the Associated Press.

However, this doesn’t mean that police can’t still confiscate a cellphone. According to the Supreme Court’s ruling, police can choose to take cellphones, but will still require a warrant to look through them. To protect the cellphones from remote encryption, they can place them in a bag that blocks signal. Police can also choose to take the battery out of the cellphone, the Associated Press notes. Read 

Indiana Judge Ends State Ban on Gay Marriage

Jun 25, 2014, 2:37 pm EST

Indiana just became the latest state to lift its ban on gay marriage.

U.S. District Judge Richard Young issued a ruling that allows same-sex couple to get married.”Same-sex couples, who would otherwise qualify to marry in Indiana, have the right to marry in Indiana,” he wrote.

“These couples, when gender and sexual orientation are taken away, are in all respects like the family down the street,” Young added. “The Constitution demands that we treat them as such.” Read 

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