The results echoed a February report from the League of California cities that said rising pension costs were becoming “unsustainable” for some local governments….By 2024, cities anticipate that they will spend an average of 15.8 percent of their general fund budgets on pensions, up from an average of 8.3 percent today, according to the League of California Cities survey.
No plans in our index seem to have made it through the first quarter of 2018 unscathed, with estimated returns ranging from a low of -1.91% to a high of -0.03%; the Milliman 100 PPFI deficit grew from $1.332 trillion to $1.425 trillion during Q1. The losses resulted in six plans dropping below the 90% funded mark, with 15 plans now over 90% funded, down from 21 as of 2017 Q4. At the other end of the spectrum, 26 of the 100 plans now have funded ratios below 60%, with 10 plans that remain below 40% funded.
Italy’s public debt hit a new high of 2.3023 trillion euros in March, the Bank of Italy said on Tuesday. The debt was up by 15.9 billion with respect to February, the central bank said. The previous high of 2.3 trillion euros was reached in July.
In contrast to Greenspan’s rosy predictions, we now find ourselves in a worsening financial condition. The Treasury Department’s Debt to the Penny website shows the reported national debt stands at a staggering $21 trillion.
The “true” national debt is more than $104 trillion when you take into consideration unfunded liabilities.
U.S. debt levels, expressed as a percentage of gross domestic product, are on track to rise above those of Italy — long one of the world’s most indebted states — in five years, the International Monetary Fund warned last month.
The peso has weakened about 25 percent since the start of the year and has been one of the world’s hardest-hit currencies as investors flee from emerging markets.
A drop in both Venezuelan and Iranian supply could provide the “perfect cocktail” for oil at $100 a barrel next year or sooner, said analysts at London-based broker PVM.
Theoretically, a monetary system that is 100% digital may enable deeper negative rates. This appeals to certain central banks. Freely circulating paper notes and coins (cash) limits the ability of the central banks to force negative deposit rates. A digital version of cash could theoretically allow negativedeposit rates to be charged on all money in circulation within any economy.
The loans many students take out to cover their education can impair them from owning houses and saving for retirement later in life.
And many others can’t even make their monthly payments. Some 40 percent of borrowers are expected to default on their loans by 2023.
When Mother’s Day Means a Trip to Prison (blackeagle)
If a picture is worth a thousand words, a cinéma vérité documentary is worth ten thousand. Such is the case with Mother’s Day, a heartbreaking observational film from Elizabeth Lo and R.J. Lozada, which follows groups of children as they travel long distances by bus to visit their mothers in prison on Mother’s Day. The documentary’s fly-on-the-wall approach conveys a depth of emotion that statistics and interviews with experts frequently cannot; observing these children, we become privy to the trauma of growing up without a present mother. We can begin to comprehend the steep price an entire generation of youth will pay for America’s high incarceration rate.
Without Help From Uncle (thc0655)
It is doubtful anyone would by them at a price which reflected their true cost to manufacture, absent all the manufacturing subsidies, including sweetheart deals/financing on their manufacturing facilities – such as the $1.3 billion the taxpayers of Nevada were compelled to provide the billionaire crony capitalist Elon Musk to finance the battery plant for his electric luxury-sports cars. As well as the retail ones, including not only the tax breaks dangled in front of buyers of the cars but also on the “fuel” they use – the electricity – which isn’t subject to any motor fuels taxation (for the moment) and often literally given away for free (well, at taxpayer expense) at so-called public charging stations, to further nudge the electric car into general use.
The Stairway To Heaven (GE Christenson)
Prices are much higher! Severing the final connection between gold and the U.S. dollar did not create a stairway to economic heaven. Instead, the dollar lost purchasing power and an inflationary disaster occurred.
One of the big reasons why I encourage students to build an Area Study is so we have a framework through which to understand our neighborhood and broader community. Organizing community security before or during an emergency is a lot like building a house. We need expert builders, we need quality materials, and we need to have a plan. This Area Study informs our team of the conditions, the fault lines, vulnerabilities, active and potential threats, and the who, what, and where that matters during an emergency. We need to make well-informed, time-sensitive, and mission-critical decisions during a natural disaster or other emergency, so we need local intelligence to help us make the best decisions.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
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