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    Daily Digest 3/27 – Canadians Feeling the Debt Burn, Negative Debt Expands to 1/5 of Global Market

    by saxplayer00o1

    Wednesday, March 27, 2019, 6:23 AM

Economy

As budget talks continue, so does debate over whether Illinois has revenue or spending problem

Despite that increased spending, Illinois unfunded pension liability in 2007 was estimated at $45.8 billion. That has increased to $134 billion in the most recent report from the Illinois Auditor General.

China’s local government debt a major risk as Beijing allows more borrowings to boost growth, says renown academic

Last year, Standard & Poor’s estimated that China’s local government’s off-balance-sheet borrowings could be as high as 40 trillion yuan (US$5.95 trillion)

World of Negative Debt Expands to One-Fifth of Global Market

The total now accounts for more than 19 percent of the market value of the Bloomberg Barclays Global Aggregate Bond Index, a benchmark of global investment-grade debt comprising everything from Treasuries to corporate and emerging-market issues.

Italy Still Is Europe’s Debt King, But France Gets Closer

France’s debt reached 2.3153 trillion euros ($2.62 trillion), just 1.4 billion euros below its southern neighbor’s. Italy’s debt as a ratio of economic output — 132.1 percent of GDP

Central banks must turn to global financial crisis tool box to tackle the next recession, says Fed’s Rosengren

“It is unrealistic to expect the Fed’s balance sheet to return to the size it was before the financial crisis,” he said.

Canadians Are Feeling the Debt Burn

Household debt in Canada, a nation generally known for moderation, has reached levels that could be qualified as excessive. Canadians owe C$2.16 trillion—which, as a share of gross domestic product, is the highest debt load in the Group of Seven economies. With the housing market cooling, a reckoning may be fast approaching.

How Can a Company with $1.8 Billion in Revenue Lose $1.9 Billion? WeWork Shows How (Thomas R.)

For a nine-year old global company, generating larger operating losses than revenues is an art, takes some doing, and requires full connivance of the investors whose money this is – but really all they want to do is sell the thing to the public at a huge valuation and wash their hands off it.

“Medieval” Diseases Flare as Unsanitary Living Conditions Proliferate (thc0655)

Hepatitis A, also spread primarily through feces, infected more than 1,000 people in Southern California in the past two years. The disease also has erupted in New Mexico, Ohio and Kentucky, primarily among people who are homeless or use drugs.

Public health officials and politicians are using terms like “disaster” and “public health crisis” to describe the outbreaks, and they warn that these diseases can easily jump beyond the homeless population.

McConnell And Senate Republicans Vote To Kill Green New Deal (thc0655)

The resolution, which was introduced in February by New York Democratic Rep. Alexandria Ocasio-Cortez, calls for “10-year national mobilizations” toward a series of goals aimed at fighting global warming. A separate fact sheet claims the plan would “mobilize every aspect of American society on a scale not seen since World War 2.”

Venezuela’s Oil Production In Jeopardy After New Blackout (Michael S.)

While Maduro points the finger once again at the United States for causing the outage, the White House has denied responsibility. Tensions between the two nations are high as the United States continues to crack down on sanctions, and Venezuela’s oil exports to the United States hit zero a couple weeks ago.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/26/19

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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