Consumers trying to build an emergency fund should set up an automatic savings plan, he said. That will put a certain percentage of their paycheck into a savings account. After determining the amount they can put in that fund for each paycheck, they can then pay debt with whatever funds they can spare in their budget.
Silver: 2018 and Beyond (GE Christenson)
Governments and central banks inevitably inflate the supply of currency units (devaluation) more rapidly than the underlying economy grows. They add to the unpayable debt load, pretend $230 trillion in global debt is normal, reduce the value of existing dollars, (euros, yen, pounds) as they create more currency units, and support the narrative that “all is well.”
The SFO obtained European arrest warrants in March 2016 against five of the men who didn’t appear at a London court to face the charges. The German prosecutors made a final decision on three of the traders this week, but had previously ruled out extraditing the fourth man last year.
The SFO declined to comment Friday.
“Income alone does not determine who is in the middle,” the Weekly points out. “Palo Alto residents say educational attainment, culture and spending choices, for example, also factor into the self-identification. One respondent with a household income between $250,000 and $300,000 for a family of four wrote that his family is upper-middle class because they don’t spend more than $500 in a single purchase — except for four weeks of travel each year, housing, their children’s activities and $1,700 each month on farmers market food.”
For context, here is a chart of the black market (i.e. real-world) value of the Venezuela’s fiat currency, the bolivar: a 100,000 bolivar note is worth somewhere around 40 cents USD (US dollar), i.e. near zero. (Venezuela maintains a fantasy-official USD/bolivar exchange rate that has no relation to the actual purchasing-power value of Venezuela’s fiat currency.)
What’s Actually Behind Cape Town’s Water Crisis (blackeagle)
Today, Cape Town faces two catastrophic, extinction-level botherations. First, the rains that once fell so reliably during the winter months have tailed off. For the past three years, they have barely fallen at all—a phenomenon one meteorologist calls a once-in-628-years weather event. Second, Cape Town is one of the more unequal cities on earth, with the wealthy, mostly white, population living in toney coastal and inland suburbs, and the poor, mostly black, inhabitants shunted onto the flatlands, an hours-long commute from the city’s economic hub.
The stage is certainly being set for some sort of drought. This week as the State Water Resources Control Board considered permanent statewide restrictions on a list of wasteful water uses, members were told that, measured by a key collection of gauges in the northern Sierra Nevada, the December-through-February period has been California’s third driest on record (exceeded only by 1977 and 1991, when a “March Miracle” saved the wet season). In the central Sierra, this December through February was measured as the driest on record.
There are several reasons why this wave of litigation is happening now. Frustration with the Trump administration’s opposition to climate action has led states and cities to take matters into their own hands. Recent floods, storms, and fires have also created a sense of urgency. Because of climate change, such events will only get more severe, and if cities are going to be prepared, they need to begin the expensive process of adapting their infrastructure now.
Gold & Silver
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