Category: Economics

SEC Shut Down Zeek Over Ponzi Scheme Allegations; Not Surprised 0

SEC Shut Down Zeek Over Ponzi Scheme Allegations; Not Surprised

In the least surprising bit of news that I’ve seen today, Zeek Rewards has been shut down by the Securities and Exchange Commission (SEC) due to allegations of running a Ponzi scheme. According to the SEC, this was a $600 million scheme by a company with about a million users worldwide. In a press release issued late Friday afternoon, the SEC called the company a $600 million Ponzi scheme on the verge of collapse, alleging that company revenues were soon to dip below its cash payouts to its customers and that the company’s chief executive officer, Paul Burks, siphoned off...

Government Flown American Flags Not American Made? 0

Government Flown American Flags Not American Made?

A nation’s flag is supposed to be the symbol of patriotism. Evidently, even patriotism is being outsourced overseas. At least partly. A bill floating in limbo in Congress is meant to curb that. Currently, federal law requires that U.S. flags purchased by the federal government contain a minimum of 50% American-made materials. The legislation would require federal agencies to purchase only flags made entirely in the U.S. “from articles, materials, or supplies 100% of which are grown, produced, or manufactured in the United States.” S.1188 – All-American Flag Act was introduced by Sen. Sherrod Brown [D-OH] June 13, 2011. It...

Movie Revenues Fall Amongst Suckage Trend 0

Movie Revenues Fall Amongst Suckage Trend

It’s the end of the year and a lot of facts and figures are coming out about what happened over the course of 2011. Reportedly movie revenue this year is the lowest it’s been since 1995. Renowned film critic Roger Ebert offered up a few reasons why he thinks the industry is seeing a 16 year low. Topping his list was the absence of any real blockbuster this year,  although I do believe Harry Potter did do good numbers. Ebert’s assessment is on point. He cited high ticket and refreshment prices and competition from streaming and mobile services among a...

Hip Hop artist, Timid, and Pace Professor offer tips to job seekers 1

Hip Hop artist, Timid, and Pace Professor offer tips to job seekers

It’s been questioned whether it is economically worth it to go to college these days. Statistics say that a college grad earns more over their lifetime than someone who hasn’t attended college. However that depends on whether the degree holder can find a job at all. In the current economic situation in the  U.S. college grads looking to enter the work force to start their lives are facing bleak prospects and opportunities while carrying record amounts of student loan debt. The Obama administration has offered up its solution in the form of Student Loan Reform. Clearly something has to give and...

European Central Bank’s monetary policy game €CONOMIA 1

European Central Bank’s monetary policy game €CONOMIA

Europe’s money troubles are no secret. Due to the interconnected and interdependent economies among world nations the European Union’s economic failures will effect everyone. Of course matters of economics intricacies can be confusing. What would you do to fix the economy of the EU? Well that’s what European Central Bank wants to give you with the game €CONOMIA (Economia). Remember the U.S. debt ceiling budget tool that let you figure out who to pay? €CONOMIA is a monetary policy game on the bank’s website that puts the player in control of the interest rate. Ever wondered what monetary policy is?...