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    Daily Digest 5/2 – Venezuela’s Oil Decline Reaches New Depths, Q1 Borrowing Set Record Of $488B

    by saxplayer00o1

    Wednesday, May 2, 2018, 2:14 PM


Proposed Harrisburg School District budget could cut kindergarten to half days

Emotions spilled over as parents and board members tried to figure out how to serve children on a budget that will be stretched even thinner over the next couple years due to increases in pension and health care costs.
One option is to raise taxes.

Venezuela’s oil decline reaches new depths

“There is a lack of machines, there is a lack of tools, there is a lack of everything,” Patrick Pouyanne, chief executive of French energy company Total, which has operations in Venezuela, told analysts in a call last week. Other executives agree. Schlumberger, the world’s largest oil services company, has described Venezuelan oil production as being in “freefall”.

US Treasury says Q1 borrowing set record of $488 billion

The Treasury Department announced Monday that the government borrowed a record $488 billion in the January-March quarter, but officials expect borrowing needs will decline sharply for the current April-June quarter.

Canadians to begin feeling pinch from increasing mountains of debt, analysts say

“The economy has never been as levered as it currently is, and the economy is far more interest sensitive than it has been in the past, to a degree that we don’t have certainty over how each interest rate hike is going to affect Canadian consumers,” said Frances Donald, senior economist at Manulife Asset Management, by phone from Toronto. “All we know is it’s going to be painful, but how painful isn’t quite clear.”

High pension costs lurk behind US teacher push for more pay

Public pension systems nationwide are facing record levels of debt, totaling $1.4 trillion, according to a recent Pew Charitable Trusts study. That puts downward pressure on wages and benefit checks as governments struggle to close the funding gap.

Venezuela stops paying $1bn debt to Canadian gold miner

Caracas turned to gold mining as a source of income after oil revenues plummeted….
But gold production, too, has fallen, from an average of nearly 11 tonnes a year in the five years to 2009, to just over 500kg a year since 2015, according to Bloomberg data from the World Bureau of Metal Statistics.

Mnuchin not worried about China retaliating on trade by dumping US Treasuries

China hasn’t ruled out using its status as America’s biggest foreign creditor as leverage in the fight over trade. But Steven Mnuchin isn’t concerned.

How Bitcoin Destroys The Economics Of Violence (Diane C.)

This clip is taken from an interview Mike Maloney conducted with Trace Mayer for the eighth episode of his Hidden Secrets of Money series. It is still one of Mike’s all-time favorite quotes on the importance of Bitcoin, but due to time constraints, it was not included in the final edit for the episode. Watch the full video here.

A sperm whale washed up on the shore of Spain with 64 lbs of plastic and waste in its stomach (ZWW)

The discovery prompted the local government of Murcia to launch a campaign against marine litter. The Murcia environmental department tweeted about a “#campaign to raise awareness about the danger of #marinetrash to #fauna” following the “necropsy of a stranded #spermwhale” revealing 64 lbs of garbage in its digestive system.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/12/18

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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  • Wed, May 02, 2018 - 7:04am



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