• Daily Digest
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    Daily Digest 10/3 – Italian Political Risk Hits Euro Sentiment, Will Brazil’s Economy Survive Its Presidential Election?

    by saxplayer00o1

    Wednesday, October 3, 2018, 2:59 PM


Economy

Consumers Feel Sticker Shock As Out-Of-Pocket Health Care Costs Rise

In 2016 the per-capita out-of-pocket health care expenditure averaged $1,093 nationally. “That’s not an insignificant sum,” said Steven Lanza, professor of economics at the University of Connecticut. In comparison, up to 57 percent of Americans reported savings of less than $1,000, according to a 2017 GoBankingRates survey. The takeaway? Average Joe and Average Jane cannot afford to be sick.

Shadow banking crisis may push India’s central bank to leave the rupee stranded

There are now more than 11,400 shadow banking companies with a combined balance sheet worth around 22.1 trillion rupees ($304 billion) and their loan portfolios have grown at nearly twice the pace of banks, according to Reuters. In 2017, such lenders accounted for 66 percent of the funding provided to India’s commercial sector, up from 44 percent the year before, according to a report from Radhika Rao, economist at DBS Group Research.

Egypt faces borrowing crunch as foreign debt market sours

Finance Minister Mohamed Maait has said Egypt was looking to sell around $5 billion in Eurobonds, possibly in the first quarter of 2019. But last month he announced a roadshow starting next week to promote bonds in Asia and Europe.
The government appears to have been waiting in the hope that emerging market turbulence would blow over.

Will Brazil’s Economy Survive Its Presidential Election?

The most immediate economic problem is plugging the gaps in Brazil’s public coffers, which pushed the nation’s credit rating deep into junk terrain and its public debt to over 55 percent of its gross domestic product, or more than twice the level of emerging-market peers Turkey or Indonesia.

IMF’s Lagarde warns of slowing global growth, possible ‘shock’ from trade dispute

Lagarde said growing global debt — in emerging and developed economies — has reached an all-time high of $82 trillion, nearly 60% higher than 2007. The buildup of debt means governments and companies are more vulnerable to “a tightening of financial conditions,” she said.

Putin backs ‘dedollarization’ plan

Under Mr Kostin’s plan, Russian companies would move away from transacting in the US currency internationally in favour of roubles, euros and Chinese renminbi, though they would not abandon them entirely.

US National debt reaches to $ 21 5 trillion in Fiscal year 2018

The national debt at the end of fiscal year 2017 was estimated to be at $20.25 trillion.

Italy sovereign, bank CDS jump after League-lawmaker mentions return to own currency

The cost of insuring exposure to Italian sovereign debt and the debt of the country’s largest lenders rose on Tuesday after an Italian lawmaker said most of the country’s problems would be solved if it returned to its own currency.

Italian political risk hits European sentiment

A fresh sell-off in Italian government debt, sent the yield on 10-year BTPs up by as many as 15 basis points to a peak of 3.442 per cent — a four-year high. It eased to 3.35 per cent in afternoon trade. As talks on a national budget between the parties of the governing populist coalition continue, Italian assets are expected to remain exposed to the process. Last week, proposals pointed to a higher-than-expected budget deficit of 2.4 per cent.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/2/18

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."

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12 Comments

  • Wed, Oct 03, 2018 - 7:12am

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2936

    Getting health insurance through work now costs nearly $20000

    Rupee hits record low, Bank Indonesia supports rupiah as oil prices …

    Nasdaq-8 hours ago

    Oct 3 (Reuters) – The Indian rupee opened at a record low on Wednesday and further weakening in Indonesia’s embattled rupiah prompted central bank .

    Tax Collections in India Raise Doubts on Lower Borrowing Plan

    Bloomberg-8 hours ago
    … ($12.9 billion) in September, falling short of the 1-trillion rupee monthly target. … Sovereign debt in India have been battered by a tumbling currency and rising …

    Turkey inflation surges to nearly 25 pct in Sept, highest in …

    Reuters-7 hours ago
    The lira has lost nearly 40 percent of its value this year against the dollar, hit by concerns about President Tayyip Erdogan’s influence over the central bank and …
     

    Indonesia Weighs Tax Cut for Bond Investors to Prop Currency

    Bloomberg-17 hours ago
    Inflows such as those into stocks and bonds have become more crucial in boosting the supply of dollars as the central bank drains its reserves to slow the …

    Congress approved $2.4 trillion in additional debt during fiscal year …

    The Hill-20 hours ago
    Congress approved $2.4 trillion in debt during fiscal year 2018, according to an analysis published this week by the watchdog group Committee for a …

    Growth of S. Korea’s household debt-to-GDP ratio 3rd fastest among …

    Yonhap News-12 hours ago
    SEOUL, Oct. 3 (Yonhap) — The ratio of household debt to gross domestic … South Korea’s outstanding household debt came to a record high of 1,493.3 trillion …

    Taxpayer advocate says pensions are ‘bankrupting’ Illinois

    Peoria Journal Star-15 hours ago
    Peoria City Manager Patrick Urich has said that the city could face a $6 million shortfall in its 2019 budget, citing rising pension costs as one of the biggest …

    Getting health insurance through work now costs nearly $20000

    CNNMoney-1 hour ago

    Employers and workers together are spending close to $20,000 for family health insurance coverage in 2018, according to a new Kaiser Family Foundation ..

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  • Wed, Oct 03, 2018 - 7:29am

    #2

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2936

    first farm in America run entirely by robots

    This start-up created the first farm in America run entirely by robots
    Co-founder and CEO Brandon Alexander claimed that Iron Ox is able to do the equivalent of 30 acres of outdoor farming in just a single acre on its robotic farm. The company wants to build more small farms near urban centers so produce is fresher upon arrival.

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  • Wed, Oct 03, 2018 - 8:16am

    #3
    Doug

    Doug

    Status Platinum Member (Offline)

    Joined: Oct 01 2008

    Posts: 1360

    definition of insanity

    https://www.washingtonpost.com/national/health-science/trump-administrat

    Quote:

    Last month, deep in a 500-page environmental impact statement, the Trump administration made a startling assumption: On its current course, the planet will warm a disastrous seven degrees by the end of this century.
    A rise of seven degrees Fahrenheit, or about four degrees Celsius, compared with preindustrial levels would be catastrophic, according to scientists. Many coral reefs would dissolve in increasingly acidic oceans. Parts of Manhattan and Miami would be underwater without costly coastal defenses. Extreme heat waves would routinely smother large parts of the globe.
    But the administration did not offer this dire forecast, premised on the idea that the world will fail to cut its greenhouse gas emissions, as part of an argument to combat climate change. Just the opposite: The analysis assumes the planet’s fate is already sealed.

    Apologize to your children and grandchildren.  Those who are adults today will carry a heavy burden of guilt to their graves.

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  • Wed, Oct 03, 2018 - 11:52am

    Reply to #3

    Michael_Rudmin

    Status Gold Member (Offline)

    Joined: Jun 25 2014

    Posts: 838

    Apologise? Not at all

    I have systematically tried to move to a right, sustainable life, nor have I stopped; and I have systematically been denied and overrun.
    Adulthood at a particular time is NOT an admission of guilt. Most of us are truly powerless on these issues. Those who are not… mut bear the guilt.
    Guilt to the guilty.

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  • Wed, Oct 03, 2018 - 11:54am

    Reply to #3

    Michael_Rudmin

    Status Gold Member (Offline)

    Joined: Jun 25 2014

    Posts: 838

    Duplicate

    Duplicate

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  • Wed, Oct 03, 2018 - 1:00pm

    #4

    rhare

    Status Silver Member (Offline)

    Joined: Mar 29 2009

    Posts: 397

    Truth is ugly

    Doug wrote:

     Apologize to your children and grandchildren.  Those who are adults today will carry a heavy burden of guilt to their graves.

    Sorry, but almost all the issues we face today can be traced back to a single root cause: over population.
    Due to that, yes you are guilty (most unwittingly) if you have children, particularly more than one.  It’s why I don’t think any of the issues will be solved no matter what effort is undertaken.  The drive to pro-create by the 7 billion plus people on the planet mean we will not change until the environment can no longer support us and the population collapses back to sustainable levels.
    So while I am sadened by our plight and try to take action in my own life, I realize that no action I take or wish others will take will make any difference.  So while you can be indignant at the Trump administration, they are in all likelyhood right based on current trends and projected population.
    The only solace that can be offered is to live in the moment, be less angry, and to love and support those around you through the trials that are coming and avoid sanctamania.
     

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  • Wed, Oct 03, 2018 - 3:53pm

    #5

    HappyCamper

    Status Member (Offline)

    Joined: Apr 16 2018

    Posts: 4

    Politicians

    The citizenry can no longer find good people to run the country because, well, you’ve got to be crazy to want the job. The current administration will never be able to fix the damage that has already been done. If we all take a good hard look in the mirror, we can see where most of our problems have come from. The only thing left is the blame game IMHO.
    https://www.psychologytoday.com/us/blog/evolution-the-self/201112/narcis
     
    https://www.huffingtonpost.com/susan-krauss-whitbourne/politicians-narci
     
    https://theswamp.media/most-narcissistic-politicians
     
    https://www.linkedin.com/pulse/politicians-narcissistic-personality-diso
     

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  • Wed, Oct 03, 2018 - 5:07pm

    #6
    sapsucker

    sapsucker

    Status Member (Offline)

    Joined: Oct 02 2011

    Posts: 11

    The Sociopath Next Door

    A very good book is “The Sociopath Next Door” and there is an audiobook on youtube.
     
     
     
     

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  • Wed, Oct 03, 2018 - 6:44pm

    #7

    pinecarr

    Status Gold Member (Offline)

    Joined: Apr 13 2008

    Posts: 1085

    CHS: "Pensions Now Depend on Bubbles Never Popping"

    Charles has a good new article, “Pensions Now Depend on Bubbles Never Popping (But All Bubbles Pop)”

    We’re living in a fantasy, folks. Bubbles pop, period. The Dow and SPX rose week after week and month after month in the 1999-2000 bubble, and again in the 2007 bubble, and so did junk bonds and housing. Everything rose in lockstep, lending support to the magical-thinking belief that this bubble will never pop because (insert excuse of the moment): housing never drops, the Fed has our back, etc.
    Bubbles pop. To avoid this reality, commentators claim this is not a bubble. Since it’s not a bubble, it won’t pop. But calling a bubble not-a-bubble doesn’t mean it’s not a bubble. Wordplay doesn’t change reality.

     

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  • Thu, Oct 04, 2018 - 2:30am

    Reply to #4

    Michael_Rudmin

    Status Gold Member (Offline)

    Joined: Jun 25 2014

    Posts: 838

    There are levels of guilt deeper than population

    As far as our family goes, our population is horizontal since the 1960s.
    I don’t think there’s guilt there.
    The guilt, from what I have seen, is elsewhere. It is with those who are charged with justice, but love murder, destruction, debauchery, drunkenness… and rule to ensure that those things dominate instead.
    And yes, the lion’s share of such guilt is on a spiritual level.
    Where are portion of that guilt stands, is where we know to set ourselves, 100% , against doing one of these things, and don’t. Anything else, and we can and will be manipulated into doing the most damage possible, believing that we are right. But the real guilt is still with the will that chooses the horror outright, for its own sake.

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  • Thu, Oct 04, 2018 - 3:33am

    #8
    VeganDB12

    VeganDB12

    Status Bronze Member (Offline)

    Joined: Jul 18 2008

    Posts: 109

    for those who like Sam Vaknin


    summary:
    1.increasing narcissism in women
    2. increasing socipathy in narcissists
    3. society wide pathological envy removing drive to improve, resulting in drive to destroy those who genuinely know more/better etc… and serious effects for society (he feels it will destroy us). 

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  • Thu, Oct 04, 2018 - 7:28am

    #9

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2936

    'Complete insanity' of Italy debt plans may lead to huge restruc

    The Italian crisis will be like Greece’s on steroids

    The Hill-18 hours ago
    Equally important is the fact that after the United States and Japan, Italy has the world’s third-largest sovereign debt market with more than $2.5 trillion in …

    ‘Complete insanity’ of Italy debt plans may lead to huge restructuring …

    Nasdaq-2 hours ago
    Italy’s2.3 trillion euro national debt dwarfs that of Greece and the euro zone bailout fund would not be able to cope with the costs of supporting its government in …

    India central bank seen raising rates again as rupee slide accelerates

    Reuters-8 hours ago
    MUMBAI (Reuters) – India’s central bank is expected to raise rates for a third time since June on Friday to combat inflationary pressures as it grapples with a …

    US workers’ health costs continue to soar; trend outpacing wages …

    Arkansas Online-6 hours ago

    WASHINGTON — American workers’ health insurance premiums and deductibles have continued to tick upward this year, outpacing wage growth and inflation,

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