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    Daily Digest 2/27 – Medicare’s Share Of Health Care Costs Will Rise, Wall Street Loses Faith In Shale

    by saxplayer00o1

    Wednesday, February 27, 2019, 9:09 AM

Economy

Medicare’s share of health care costs will rise, study says

Specifically, the new forecast estimates that the nation’s health care expenditures will rise by an average of 5.5 percent between 2018 and 2027. By the end of that period, it says, that will account for 19.4 percent of the nation’s gross domestic product, an increase from 17.9 percent last year.

Letter: City of Antioch on the Brink of Financial Disaster

As of February’s budget report, Antioch has over $161,000,000 in unfunded liabilities, with an even more potentially disastrous medical liabilities potion of the CALPers program. This is Antioch’s largest debt. The city doesn’t own enough assets to pay for its debts, nor does it have enough ongoing cash-flow to address the debt outside of the pay as you go option (Pension Payments), so, Antioch keeps increasing taxes to provide services.

Fort Worth City Vote Passes to Increase Contributions to Fix Pension Fund

Fort Worth residents voted in favor of increasing contributions to fix the $1.6 billion dollar unfunded liability for the city’s retirement fund. Mayor Betsy Price said Fort Worth is the first big city to settle a pension fund locally, without having to settle it in Austin.

Brazil’s economy almost ground to a halt in fourth quarter: Reuters poll

Reining in Brazil’s yawning social security deficit is key to underpinning confidence in the economy, but uncertainties at home and abroad are such that activity in the first half of this year may be as sluggish as the end of last year.

Wall Street loses faith in shale

While there are some drillers that are profitable, taken as a whole the industry has been cash flow negative essentially since its beginning in the mid-2000s. For instance, the IEA estimates that the shale industry posted cumulative negative free cash flow of over $200 billion between 2010 and 2014.

With 10-to-1 Leverage, Shadow Banks Fuel China’s Stock Boom

Eager to pile into the world’s most-volatile major stock market with 10-to-1 leverage? China’s shadow bankers are happy to help — and that has the nation’s policy makers worried.

China deleveraging is dead as USD34 trillion debt boom returns

China’s overall leverage ratio stood at 243.7 percent at the end of 2018, with corporate debt reaching 154 percent, household borrowings at 53 percent and government leverage at 37 percent, according to Zhang Xiaojing, deputy head of the Institute of Economics at the Chinese Academy of Social Sciences. Before that, the nation’s leverage ratio climbed at an average 12 percentage points each year between 2008 and 2016.

Janet Yellen says Trump has a ‘lack of understanding’ of Fed policies and the economy

“Well, I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability, which is the goals that Congress have assigned to the Fed,” she added in the interview with American Public Media’s “Marketplace.”

Metro Council Budget Committee meeting focuses on pensions amid $65 million deficit (Louisville, KY)

“We’ve paid our pension bills 100 percent of the time, but through no fault of our own, this $50 million bill is now at our doorstep,” Mayor Greg Fischer said at an event Monday afternoon.

“I don’t think we can cut our way into pay this big bill,” Budget Committee Chairman Bill Hollander said. “The bill is just big.”

Martin Armstrong – World Economic Outlook, Gold, Real Estate (Herman J.)

Martin Armstrong is a world renown economist and the creator of the Economic Confidence Model. He is the founder of Armstrong Economics – a public service and blog for the average person to comprehend the global economy and for professionals to access the most sophisticated international analysis possible.

Active ingredient in Roundup weed killer found in popular beers and wine, researchers say (Thomas R.)

Though the levels of glyphosate in the drinks tested aren’t necessarily dangerous, the World Health Organization said in a 2015 report that the pesticide is “probably carcinogenic to humans.” In 2017, the California Office of Environmental Health Hazard Assessment announced glyphosate “would be added to the list of chemicals known to the state to cause cancer.”

Here’s what’s left of General Electric after the $21 billion sale of its biopharmaceutical business (Thomas R.)

One of the greatest American conglomerates, GE has had a rocky few months. It was kicked off the Dow last year and has been hacking away at itself part by part.

The company had indicated last year that it would spin off GE Healthcare in an effort to shrink its debt.

Cancer patient’s treatment leaves radiation contamination in crematory (Sparky1)

Incineration “volatilizes” radiopharmaceuticals in a dead body, and the radioactive contamination can be “inhaled by workers (or released into the adjacent community) and result in greater exposure than from a living patient,” Yu and his co-authors wrote.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/26/19

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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