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    Daily Digest 5/23 – Low Oil Price Era ‘Dead,’ Economists See Potential Nightmare In New Italian Government

    by saxplayer00o1

    Wednesday, May 23, 2018, 1:57 PM

Economy

Low oil price era is ‘dead’ as crisis-stricken Venezuela risks a supply shock, analyst says

Sen joins a chorus of analysts warning about further price spikes amid the combined impact of falling crude output in crisis-stricken Venezuela, renewed U.S. sanctions on Iranian crude exports and wars in Syria and Yemen that involve major oil-producing countries.

China landscaping firm’s shares slump after bond issue falters

In another indication of rising pressures facing corporate issuers, 73 bond auctions worth 47.4 billion yuan were postponed or canceled in March, a jump of nearly 80 percent from a month earlier, according to data compiled by Reuters. An additional 81 bond issues worth 47 billion yuan were postponed or canceled in April.

New Jersey Is Heading for $2.4 Billion Shortfall Without Murphy Taxes

New Jersey Treasurer Elizabeth Muoio said structural budget troubles are accelerating, and the state is on track for a $2.4 billion deficit if tax increases aren’t in place…

Canadian students owe $28B in government loans, some want feds to stop charging interest

With Canadian students collectively owing over $28 billion in student loans to all levels of government, The Canadian Federation of Students has posted several Facebook ads about this issue, in addition to launching an online petition to have interest charges scrapped.

Economists see potential nightmare in new Italian government

In a worst case scenario, a spike in bond yields could render Italy unable to finance itself over the long term. Italy’s debt pile is almost seven times bigger than Greece’s and could prove too much to be bailed out by its European partners.

UK government looks to force open $640 million fund untouched since 1928 to pay off national debt

Total U.K. public debt now stands at £1.798 trillion, about twice the level it was before the 2008 financial crisis.

Consumer debt is set to reach $4 trillion by the end of 2018

Americans owe more than 26 percent of their annual income to this debt. That’s up from 22 percent in 2010. It’s also higher than debt levels during the mid-2000s when credit availability soared.

Women’s student debt will soon hit $1 trillion

If trends continue on their current trajectory, Kevin Miller, a senior researcher at AAUW and the author of the report, estimates that the outstanding student debt held by women alone could reach $1 trillion over the next year. If the ratio of debt owed by women versus men stays the same, then men hold about $550 billion at that time. “We’ll be keeping a watch on it,” he said.

Insurance Companies Set An Unreasonable Bar For Mental Health Coverage (Thomas R.)

My patient was resilient and determined to beat his depression. He’d been looking for months for an outpatient psychiatrist who accepted his insurance. Unfortunately, many insurers pay mental health providers so poorly and make it so difficult to get compensated that nearly half of psychiatrists don’t accept insurance at all. Now he was on a six-week waiting list.

Finnish university’s online AI course is open to everyone (Thomas R.)

Fagerlund mentioned the use of AI in the food industry to sort produce and other items at facilities as an example. And while you know that Facebook uses AI for facial recognition, a lot of people might not. Indeed, Helsinki’s course focuses on the basics, starting with defining what AI is and explaining how it can solve problems. The materials also discuss how AI is already used in the real world, and in the second part of the course, they explain how machine learning works and what neural networks are. It will apparently take you about 30 hours to complete the course, which can earn you two academic credits through the Open University if you’re from Finland. If you live elsewhere, you’ll just have to make do with a certificate you can display on LinkedIn.

Consumer Reports: We can’t recommend Tesla’s Model 3 (Thomas R.)

Even adjusting the side mirrors or changing the direction of the air flow from the dashboard vents requires interacting with the touch screen. That means extended periods of time in which the driver’s eyes are off the road ahead, Consumer Reports said.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/22/18

Provided daily by the Peak Prosperity Gold & Silver Group

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