When they need health care, insured workers are also paying more out of pocket than in 2008. Ten years ago, the average deductible in an employer-sponsored plan was around $300. Last year, the average was more than $1,330.
Of course, this is in addition to the revenues derived from the Cap-and-Trade program, a significant portion of which is devoted to the not so fast Bullet Train boondoggle. According to Legislative Analyst Office, Cap-and-Trade will add 24 to 73 cents to the cost of a gallon of gas. This will cost drivers about $2.5 to $7.5 billion. Call it $5 billion.
Overall, these proposed taxes will exceed $25 billion.
According to good government group Truth in Accounting, Wagner may be more right than he knows, and in fact the size of the state’s public pension and retiree health care debt may be larger than the state itself has acknowledged. That’s according to a recent report, “The Financial State of the States,” which assigns Pennsylvania a “D” grade and identifies $82.1 billion in unfunded debts.
The International Monetary Fund head isn’t known for breathlessness on the world stage. And yet the IMF sounded downright alarmist in its latest Global Financial Stability report, stating that “large challenges loom for the global economy to prevent a second Great Depression.”
“Over the past two decades, income and wealth inequality have increased in the U.S. as high- and very high-income households have commanded rising shares of income and wealth,” Moody’s analysts wrote in the research report. “The top 10 percent of income earners have seen their overall median net worth increase by almost 200 percent since 1995, while the bottom 40 percent of income earners have experienced a decline in median net worth over the same period.”
Moody’s and S&P Global, both rating Italy two rungs above ‘junk’, are widely expected to downgrade in late October as the new government’s outsize spending plans put it on a collision course with EU authorities.
Foreign exchange derivatives form the biggest mountain of obligations in the world financial system – a notional amount of about $90 trillion, up from $60 trillion in 2010. Breaking down the numbers….
A Reverse Bucket List (GE Christenson)
Jack Nicholson and Morgan Freeman starred in the 2007 movie, “The Bucket List.” A “bucket list” defines things we want to do before we die, before we “kick the bucket.”
A reverse bucket list—as used here—is a list of things already occurred, but we wish had not happened.
Death by Fertilizer (Paul D.)
This breakthrough solution created a crisis as large as the one it solved. Since Haber’s discovery, humans have nearly doubled Earth’s natural flow of fixed nitrogen, overwhelming the capacity of ecosystems to remove it. The resulting buildup is poisoning the planet’s waterways, creating a crisis some consider even more threatening than the buildup of carbon dioxide in the atmosphere.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
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