The total value of the U.S. housing stock grew to a $29.6 trillion in 2016, an increase of nearly 6% and $1.6 trillion over the previous year and a new record, according to an analysis by real-estate website Zillow. Portland, Ore. had the biggest increase in value among the largest housing markets, growing more than 13% in 2016, while Los Angeles is the most valuable metro, worth a cumulative $2.5 trillion.
As of its most recent financial reports at the end of 2015, the Colorado Public Employees’ Retirement Association has dropped to 62.1 percent funded with a $26.8 billion unfunded liability — nearly seven percentage points less than the 68.9 percent funding ratio it sported before lawmakers enacted reforms in 2010.
For many employers, the current CalPERS rate for the unfunded liability is higher than the rate for the normal cost. The need to pay down the unfunded liability, which grew to $139 billion this year, is the reason for the new round of CalPERS rate increases.
Illinois state government has left the people of the Prairie State quite the stocking stuffer this holiday season: an $11 billion bill backlog that is expected to hit $14 billion by summer 2017. However, with money from a June stopgap funding agreement set to run out by the new year, nonprofit service providers and students receiving state grants may view it more as a lump of coal.
Governments of the world’s leading economies have about $7.7 trillion of debt maturing in 2017, with most facing higher borrowing costs as a three-decade bull market for bonds shows signs of running out of steam.
The Feds Are Inside Your Home (Tiffany D.)
Naturally, Alexa has become part of the current zeitgeist. For example, a recent episode of the brilliant hacker series Mr. Robot has a world-weary FBI agent asking Alexa philosophical bedtime questions and predictions. Alexa can only respond that “I’m working on that one, ask me a little later.”
Silver Prices And The Russian Connection (GE Christenson)
Silver prices reached a generational high in 2011 and will collapse even further in coming years. Why? Supposedly the crushing deflation will rule the world for several years and prices for stocks, bonds, real estate, gold and silver will crash to unbelievable lows. We have heard this before. Some prices will probably crash, but silver and gold should rise because they are real money and independent of (surging) counter-party risk.
Of course, the rules weren’t in place when Mrs. Hülst started her life savings, so how could she possibly know she would have needed receipts from the time in question, twenty or forty or fifty years down the road? That was absolutely inconceivable at the time, that the government would not honor its own cash. (Something that, for one reason or other, has always been inconceivable — despite ample data points to the contrary.)
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to [email protected]. 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."