Labor

Authored by Daniel Ameduri via FutureMoneyTrends.com,

As I sat down to enjoy some smoked salmon at a recent BBQ I attended, I ended up at a table with two recent high school graduates.

To my disappointment, when I asked them what their plans were for the summer and beyond, both said they were heading to college.

With student loans and a wasteful four years in front of them, I couldn’t help but ask why.

Is there really anything that takes 4 to 8 years to learn or become an expert in?

Authored by Charles Hugh Smith via OfTwoMinds blog,

The employment rate for males ages 25-54 has been stairstepping down for 30 years, but it literally fell off a cliff in 2009.

Authored by Mike Shedlock via MishTalk.com,

Total capitulation by Governor Bruce Rauner is in the works. The taxoholics wore him down.

In the emergency session, Rauner has agreed to hike the personal income tax rate to 4.95% from the current 3.75%. The corporate income tax rate will rise to 7% from the current 5.25% rate.

For what? Nothing. Reforms are non-existent.

Another Deadline Come and Gone

We've written quite a bit over the past couple of months about the pending financial crisis in Illinois which will inevitability result in the state's debt being downgraded to "junk" at some point in the near future (here is our latest from just this morning: "From Horrific To Catastrophic": Court Ruling Sends Illinois Into Financial Abyss).

Pensions Timebomb - Pensions "Are Going To Be A National Crisis"

- America’s underfunded pension system is “not a distant concern but a system already in crisis”...

- Tax may explode as governments seek to bail out insolvent pension plans

- Illinois, California, New Jersey, Connecticut, Massachusetts, Kentucky and eight other states vulnerable