Stupidity Is Final Sign of Apocalypse

Northern Mariana Islands' fund could run out of money in 2 years

(NEWSER) - It's a high-profile milestone out of a not-so-high-profile place. The Northern Mariana Islands' public pension fund sought bankruptcy protection last month, a notable move in that it's the first such US fund to do so. The Wall Street Journal paints a picture of a complicated road to collapse for the Pacific Ocean territory, complete with a prominent Merrill Lynch fund adviser who went missing while fishing last year, a perhaps overly generous approach (when pensioners die, their kids can collect part of the payments), and a lawsuit against Merrill Lynch itself. More»

Figure much higher than expected

(NEWSER) - America's student loan debt is a lot higher than previously believed, a fact that may create a drag on the economy for years to come, according to a new report from the Consumer Financial Protection Bureau. Total debt passed $1 trillion late last quarter, officials told a banking conference in Austin yesterday, making it 16% higher than an earlier estimate from the Federal Reserve Bank of New York, the Wall Street Journal reports. More»

Turns out thou shalt not know the day nor the hour after all

(NEWSER) - America's favorite doomsday prophet issued a belated apology letter yesterday, admitting he was wrong about the rapture coming on May 21 . (No specific mention of his subsequent prediction that the world would end on October 21 , but we assume he was wrong then, too.) "We now realize that those people who were calling our attention to the Bible's statement that 'of that day and hour knoweth no man,' were right … and Family Radio was wrong," Harold Camping wrote on his Family Radio website . More»

Lawmakers plan for nationwide economic meltdown

(NEWSER) - Wyoming lawmakers are ready for anything—even the apocalypse. House legislators advanced a bill Friday to prepare for a possible nationwide economic or political meltdown, the Casper Star-Tribune reports. The legislation would create a task force to consider steps such as issuing a state currency, drafting a statewide army, and acquiring an aircraft carrier. “I don’t think there’s anyone in this room today what would come up here and say that this country is in good shape, that the world is stable and in good shape," said Rep. Lorraine Quarberg. More»

But most remain upbeat about their future: Pew survey

(NEWSER) - The economy is doing a number on those aged 18 to 34, according to a new survey from the Pew Research Center :

• Half say they have taken a job they didn't want.
• More than a third have gone back to school because of the job market.
• Nearly a quarter have taken unpaid work to gain experience.
• About a quarter have moved back in with the folks.
• More than 1 in 5 have postponed having a baby, and about the same number have put off getting married.