76 million Americans are struggling financially or just getting by

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Wages are finally rising. Unemployment is the lowest it’s been since 2007. Inflation remains muted.

But 31% of American adults, or 76 million people, say they are struggling to get by or just barely making it, according to the Federal Reserve Bank’s latest survey on Americans’ economic well-being, which looked at 2015.

The Fed survey highlights many of Americans’ continuing economic worries. Some 46% of adults say they can’t cover an unexpected $400 expense or would have borrow or sell something to do so. Continue reading

Union: Hackers have personnel data on every federal employee

So, basically you can now say that the CIA, NSA, FBI et al have been compromised and are now in a Chinese database for future operations.

 

WASHINGTON (AP) — Hackers stole personnel data and Social Security numbers for every federal employee, a government worker union said Thursday, charging that the cyberattack on U.S. employee data is far worse than the Obama administration has acknowledged.

Sen. Harry Reid, the Democratic leader, said on the Senate floor that the December hack into Office of Personnel Management data was carried out by “the Chinese.” Reid is one of eight lawmakers who is briefed on the most secret intelligence information. U.S. officials have declined to publicly blame China, which has denied involvement. Continue reading

Eurozone debt crisis: Greece admits it cannot make loan repayments

GREECE raised new fears of eurozone collapse yesterday after saying it could not afford an international loan repayment due next week.

nterior Minister Nikos Voutsis, whose Syriza party was elected earlier this year on a left-wing, anti-austerity ticket,  told Greek TV his country did not have the £1.1 billion expected by the International Monetary Fund on June 5.

The Greek government is being told by the IMF and EU to make more reforms in exchange for a further £5 billion in bailout cash to stave off bankruptcy.

Continue reading