Economist: Social Security Bankrupt
“Social Security is insolvent,” Boston University economics professor Laurence Kotlikoff told the House Subcommittee on Social Security at a hearing on Capitol Hill Tuesday. “And it’s not bankrupt in 30 years, or 20 years, or 10 years. It’s bankrupt today,” CNS News reported.
U.S. Home Ownership Lowest Rate Since 1995
The share of Americans who own their homes slipped again in the second quarter to its lowest level in nearly two decades, according to the L.A. Times.
U.S. Financial System Threatened by Hackers
Four years ago, NASDAQ servers were compromised by Russian hackers that has Wall Street is becoming increasing concerned about the safety of their data, and the fear that one well-executed cyber attack could bring down the entire financial system.
Dow and S&P Close at All-Time Highs Based on Jobs Report
The Dow Jones Industrial average eclipsed 17,000 for the first time in its 118-years history bolstered by a jobs report where 288,000 jobs were added in June.
U.S. Economy Shrank 2.9% in First Quarter
The Gross Domestic Product fell at a 2.9 percent annual rate, the economy’s worst performance in five years. Growth has been revised down 3.0 percent since the government’s first estimate was published in April, worse than economists’ expectations.
All-Time Record Close for Dow and S&P 500; Nasdaq at 14-Year High
Wall Street is smiling going into the weekend as stock markets continued their blistering pace as the Dow and S&P 500 closed at all -time highs on Friday. The Nasdaq wasn’t far behind as it hit a 14-year high.
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