Inflation during the month of February alone was 80 percent, opposition lawmakers said, amid an economic crisis in which millions of Venezuelans are unable to find or afford basic food and medicine.
The contribution is almost $22 million more than supervisors deposited at this time last year. Over the same period, the so-called unfunded liability climbed by $53 million, from $3.318 billion to $3.371 billion, the county reported.
Pension costs have steadily consumed more of Los Angeles County’s operating budget, climbing from a 3 percent share of expenditures in 2002-03 to an 8.7 percent share in 2017-18, according to a report released in 2017 by the Stanford Institute for Economic Policy Research. As a result, more than a $1 billion has shifted away from other services, such as programs for immigrants, foster care and family services, according to the report.
New Jersey’s other long-term problems still loom. The state has huge liabilities in its underfunded $76 billion public pension system, which was just 49 percent funded in fiscal 2016, according to the most recent data available.
Medical debt is a leading cause of personal bankruptcy in the United States. Nearly one in five Americans have delinquent medical debt on their credit reports. That includes 1.2 million people in the Chicago area who owe nearly $1 billion, according to data compiled by Mike Antico of RIP Medical Debt.
The latest report by the Bank of International Settlements (BIS) said Canada’s credit-to-GDP gap and debt-service ratios have surpassed critical thresholds and are signalling red, pointing to vulnerabilities.
If the digital money was issued by one of the major central banks, this could even lead to cross-border panics as capital took flight from riskier assets and financial institutions in countries experiencing turmoil and into state-backed cryptocurrencies elsewhere.
Total outstanding US mortgage loans are now back at nearly $15tn, the same as at the 2008 peak. In the UK, the average London house price at the end of last year was £484,500, nearly two-thirds higher than at the pre-crisis peak.
For the first five months of this budget year, the deficit totals $391 billion, an increase of 11.5 percent from the same period a year ago. President Donald Trump’s new budget projects this year’s deficit will hit $873 billion, up a sharp 31.3 percent from last year’s imbalance of $665.8 billion.
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."