Daily Digest

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Daily Digest 8/21 - India In Uproar Over Rupee's Fall, Students Say No To Costly Textbooks

Wednesday, August 21, 2013, 10:37 AM

Economy

Funding cuts hit 57,000 preschoolers nationwide

Federal spending cuts are hitting 57,000 children who would have started preschool in the next few weeks. The cuts will impact an estimated 1,400 children in Louisiana.
The Administration for Children and Families reported Monday that 51,299 fewer children will begin Head Start preschool programs and 5,966 fewer toddlers will enter Early Head Start programs due to the $85 billion in federal budget cuts called sequester.

U.S. courts grapple with budget cuts for defense lawyers

Faced with steep budget cuts, the U.S. federal court system on Monday slashed $15 an hour from the fees it pays private lawyers to represent poor criminal defendants.
The Judicial Conference of the United States said it would cut rates for non-capital cases to $110 an hour from $125. For death penalty cases, the rate drops to $163 an hour from $178.

India in uproar over rupee's fall

Almost every day, Indians are waking up to alarming headlines about their currency hitting “a historic low” or a “lifetime low.” Last week, on what was dubbed “Black Friday,” the currency sank to a record level, and Indian media carried pictures of workers in Mumbai’s financial district clutching their heads in dismay.

Real halts 6-day slide as Brazil steps up currency intervention

Brazil's real gained for the first time in seven sessions on Tuesday after policymakers raised their rhetoric against currency speculators and the central bank stepped up intervention on the foreign exchange market.

Indian rupee hits new low despite bank intervention

The yield on the 10-year benchmark bond hit 9.23 percent intraday, the highest for over five years, reflecting eroding investor appetite for Indian debt as worries about the economy and potential default mounted.

U.S. Gold-Coin Sales Slump as Prices Rebound on Asian Demand

Gold-coin purchases totaled 682,500 ounces this year, compared with 753,000 ounces in all of 2012, the Mint said. Sales of American Eagle silver coins were 31.9 million ounces so far this year, compared with 33.7 million in 2012, according to data on the website.

Greek yields hit three-week highs as Germany says third bailout needed

Greek bond yields hit their highest in three weeks on Tuesday after German Finance Minister Wolfgang Schaeuble said Athens would need a third bailout and would get no more debt haircuts.

Debt Could be Killing Young Americans

And researchers found that the higher the debt of the subject, the more likely they were to report stress, bad health and high blood pressure (a 1.3 percent increase), the academics say.
Such an increase in high blood pressure correlates to greater risk of stroke and hypertension, the researchers noted.

State to begin reporting pension liabilities (West Virginia)

At the end of fiscal year 2012, the teacher pension plan was funded at $5.14 billion, or 53 percent. Fleck said 2013's figures are not complete yet, but he expects the teachers' pension plan is now funded at about 56 percent.

Long-Term Unemployment Crisis Is Historically Terrible (CHART)

The Great Recession ended in 2009, but Americans across the country are still grappling with its fallout.

Rising College Costs Send Students Online

Bloomberg’s Nela Richardson discusses the changing landscape of college education. She speaks on Bloomberg Television’s “Market Makers.”

Health Premiums Up 4% as Steep Climb Levels Off

The average annual premium for a family is now $16,351, up 4 percent from last year, according to the results of the survey released on Tuesday by the Kaiser Family Foundation. Of that amount, workers paid an average of $4,565. Premiums for individual policies purchased through an employer rose nearly 5 percent, to $5,884 annually, from $5,615 in 2012. The average contribution from the worker is $999.

Greek defence spending set for another hit

For many Greeks, austerity during a crushing economic crisis has replaced Turkey as the perceived enemy, given they are more worried about survival than the likelihood of clashing with their neighbour.

College students say no to costly textbooks

College students and some of their professors are pushing back against ever-escalating textbook prices that have jumped 82% in the past decade.
Growing numbers of faculty are publishing or adopting free or lower-cost course materials online.

N.J. red-light cameras ensnaring motorists with quick yellow lights, lawmaker says

Working with an expert in video timing, state Assemblyman Declan O’Scanlon (R-Monmouth) said today the yellow light times were shorter than what is required by law, causing drivers to be ticketed illegally.

Gold & Silver

Click to read the Gold & Silver Digest: 8/20/13

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2472
phecksel's picture
phecksel
Status: Silver Member (Online)
Joined: May 24 2010
Posts: 138
College Text Books

Hint, each new edition of the text book, is nothing more than a reordering of the same old text book.  I had one professor that took the time to identify different editions and the proper chapters for her students.

I got stuck buying one book that was "college" specific.  I actually liked the book, it was a great reference book, however, the college specific edition was very expensive.  I sold it back to the college, they paid me 50% (ouch), but then went out and bought the real book (two editions old), for like $10.  It contained significantly more content, but the chapter content was exactly the same.

I did find especially questions will be different, and if it had highlighted sections, they may be different, but for the most part, each edition is the same as the last edition.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2472
Bond fund August outflows hit $30.3 bln: TrimTabs

Bond fund August outflows hit $30.3 bln: TrimTabs

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 3193
Ouch, that's going to leave a mark

The outflows from bonds and the coincident sell-offs in the larger bond market are cause for concern....

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