Feel The Bern! One of the reasons communist Bernie Sanders is doing well with Millennials is because he’s promising free college for everyone. In an ultimate twist of irony, his wife Jane Sanders was president of Burlington College in Vermont and racked up such large debts for the small school that she led it to ruin. Burlington College announced today it will close after it was unable to recover... 

On Thursday, Donald Trump told CNBC that his solution to dealing with the $19 trillion-plus national debt involves a form of default such as repurchasing existing bonds at a discount. The media jumped all over him calling his idea “insane” and warning that it would tank the economy or set off an “unprecedented financial crisis.” They are right that it would set off an unprecedented financial... 

Moscow wants Kiev to pay interest daily on its $3 billion defaulted bond, Bloomberg reports after viewing court documents. Ukraine failed to pay the debt on December 20 and the penalty fee has grown to about $66.3 million as of Friday. The Kremlin refused to take part in the $15 billion debt restructuring Ukraine reached with its foreign creditors in 2015. Russia wanted Ukraine to recognize the debt... 

Ukrainian Prime Minister Arseny Yatsenyuk declared a moratorium on the payment of three-billion-dollar debt to Russia. The Cabinet of Ministers of Ukraine supported his decision. In addition, the official Kiev is not going to pay the debt of $507 million to Russian banks (the debt was amassed by two Ukrainian companies that collaborated with Russian banks). “From today, all payments shall be... 

Startup culture and the “sharing economy” could be replacing the traditional American Dream of freedom of lifestyle choice and the ability to own a home, according to a new survey paralleling research conducted in 1986. Young white Americans have become as hopeless regarding the “American Dream” as their non-white counterparts, according to a poll conducted among US 18 to 34-year-olds,... 

The Congressional Budget Office predicts a negative evaluation of the US revenues in the coming 10 years. The analysts noted, that despite the current growth of the country’s revenues, the problem of a huge public debt still cannot be solved, that can generate a twofold deficit of the state budget by 2025. Government revenue will continue to increase, and will reach $5 trillion by 2025, which... 

The Ministry of Finance (MoF) is reporting today that British banking giant HSBC is nearing a total collapse after its having lost a staggering nearly $1 trillion due to the ongoing Great 2015 Global Market Crash and earlier today it completely ran out of cash to pay its obligations and depositors. According to this report, HSBC is a multinational banking and financial services company headquartered... 

To download this show in Mp3 format: click here. Summary: Economist and best-selling author Harry S. Dent Jr., returns with comments on the latest Grexit drama, noting a default is imminent. A bankruptcy will benefit the nation as forced fiscal responsibility curtails government profligacy. The only country to effectively ameliorate the debt problem is Iceland, which defaulted on foreign debt shielding... 

Goldman Sachs, the Great Vampire Squid that helped oligarchs and corrupt politicians hide the debt central bankers say the Greek people owe, faces legal action over the role it played in the financial crisis. The investment bank worked behind the scenes to ensure Greece followed strict Maastricht rules for eurozone membership, according to a former Goldman banker who advised indebted governments on... 

The Greek debt crisis, the expected lifting of sanctions on Iran and oil and stock market volatility will dominate the agenda of the BRICS summit which is opening today in Russia. During their two-day meeting in Ufa, the leaders of Brazil, Russia, India, China and South Africa will discuss closer industrial, technological and financial integration of their countries within the five-nation bloc. The... 

The market value of European banks has shrunk by more than €50 billion after Greece shut down its banks until July, 6, the day after the referendum on the bailout deal is held. The Stoxx 600 Banks Index fell by 4.4 percent, the biggest daily decline since November 2011, Bloomberg reports. Among the biggest losers is Portugues Banco Comercial down 9.1 percent, and Italy’s Banca Monte dei Paschi... 

Athens is likely to leave the eurozone and the EU if it fails to reach an agreement to unlock a €7.2 billion bailout installment, said a statement from the Bank of Greece. “Failure to reach an agreement would, …, mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country’s exit from the euro area and – most likely – from the... 

International Monetary Fund representatives have cut short negotiations with Greek officials in Brussels, after they failed to present a viable reform plan. The move has left Athens, due to repay €1.6 billion by the end June, on the edge of default. “The ball is very much in Greece’s court,” IMF spokesman Gerry Rice told the media during a specially scheduled announcement, before his team... 

Greece will not be able to make next tranche of debt repayment to the International Monetary Fund (IMF), as the country has no money to pay, the Interior Minister said. “The four installments for the IMF in June are 1.6 billion euros ($1.8 billion), this money will not be given and is not there to be given,” Nikos Voutsis told Greek Mega TV’s weekend show on Sunday. Asked about the... 

A new report shows that the economy of Greece under SYRIZA has slipped back into recession after having contracted by 0.2 percent during the first quarter of the current year. The report was released by the national statistics agency, ELSTAT, on Wednesday, showing the second consecutive quarterly fall in Greece’s national output, after it had grown for most of 2014, AFP reported. The downturn, the...