Other cities wrestle with unpaid taxes, too, but the size of Detroit’s problem is staggering. Several factors have brought the city to the point that crucial revenues are not being collected and thousands of houses are being taken away each year — not by banks, for failure to make mortgage payments, but by the government, for failure to pay taxes. Contributing are soaring rates of poverty, high taxes despite painfully diminished city services and a long pattern of lackadaisical tax collection by the city.
The $124,421 Man (jdargis)
But in that basement on that summer day, the $12,000 grant had evaporated, not to mention the $48,000 we had anticipated when all four years of admittedly hypothetical grants were put together. Instead, we had nothing but more debt. That expected $50,000 in loans had metastasized to $100,000. Suddenly, I was on track to be in the 3 percent — that’s how many undergrads graduate with six-figure student loan debt, according to a study of government stats by Mark Kantrowitz, a financial-aid expert. (Thirty-seven percent of Tufts students have a combination of loans and scholarships, and they graduate with an average of $23,048 in debt.)
What Crude Oil Says About Silver (GE Christenson)
Crude oil prices have many reasons to explode higher and few to drop lower. The trend has been up for more than a decade. Central banks will print, politicians will instigate more wars and invasions, and each euro, yen, and dollar will purchase even less crude oil and gasoline. It is business as usual, but with an extra dollop of chaos, war, and price inflation tossed into the mix.
Why The COMEX Is Corrupt (Taki T.)
The CME owns and operates the COMEX and other exchanges as a publicly-traded for-profit corporation. As such, its main motivation and purpose is to generate profits for shareholders. While there is nothing wrong with that in the abstract, a commodity exchange is a unique financial institution in that such exchanges, at least in the US, must be authorized by Congress and regulated by the CFTC. In addition, there is a strong front line self-regulatory responsibility bestowed on US commodity exchanges, like the COMEX, to make sure all trading is on the up and up.
Complainants have to provide their name and e-mail address, the country whose law applies to the request, the name of the person featured in the relevant search results, and a list of every URL they want taken down. The key part of the form is the complainant’s explanation for the takedown since, as Google notes, the EU ruling only relates to information in its index that is “inadequate, irrelevant or no longer relevant, or excessive in relation to the purposes for which they were processed.”
When The Herd Turns (June C.)
Current best practices in risk management work only when correlations are stable. At turning points historical relationships between assets break down. The only way to effectively anticipate future risk factors is by understanding root macroeconomic causes.
Golf balls aren’t dimpled for mere cosmetic reasons. The pattern of tiny divots actually reduces drag by cutting air resistance in half. But no matter how powerful your swing, there’s only so hard you can hit a golf ball, and just so fast you can make it fly. In fact, a golf ball actually can go too fast to take advantage of its dimples because at high speeds, the dimples’ effect reverses.
The Farmland Boom Appears To Be Over (jdargis)
Farm incomes soared from 2009 through 2013, said Nathan Kauffman, an economist at the Kansas City Federal Reserve Bank. Both crop prices and land values “increased dramatically during that time.” Land on average gained more than 20 percent a year in major crop-producing states. Things were different for livestock producers, where profits sank largely thanks to high feed prices. Those prices are now falling.
Gold & Silver
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