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    Daily Digest 7/11 – Venezuela Sees Bartering Resurgence, Corporate Bond Market Getting Junkier

    by saxplayer00o1

    Wednesday, July 11, 2018, 3:04 PM


Venezuela sees resurgence of bartering as banks struggle to keep up with hyperinflation

Hyperinflation is driving Venezuelans to revert to a bartering system, as they face shortages of bank notes, food and medicine. It means residents of the once-prosperous country are finding creative ways to pay for good and services.

Venezuela annual inflation hits 46,305 pct in June – congress

Venezuelan consumer prices rose 46,305 percent in the 12 months ending in June, the opposition-controlled congress said on Monday, as the crisis-stricken nation's hyperinflation continues to accelerate amid a broader economic collapse.

Wisconsin cities on hook for $2 billion in worker retirement benefits, study shows

Henken says the problem is labor contracts from the 70's and 80's , which paid higher portions of healthcare costs, at a time when healthcare was cheaper.

"What nobody predicted at the time, and ostensibly nobody could have predicted is the extent to which healthcare inflation outpaced regular inflation, and the extent to which healthcare costs have skyrocketed."

Watsonville: Council to consider sending hotel tax increase to voters (California)

Watsonville is the latest California city eyeing an increase to its transient occupancy tax as budget deficits, largely driven by ballooning retiree pension costs that the League of California Cities have proclaimed to be “unsustainable” for local governments. Nearby, the city of Scotts Valley is sending its own increase to the tax from 10 to 11 percent to voters in November after approval from the City Council in June. Similar increases are being explored in Capitola and Santa Cruz.

Euro members consider more super-long borrowing as ECB mulls bond 'twist'

With total government debt approaching or exceeding annual gross domestic product in some countries, extending the maturity profile of that debt is one way of keeping it sustainable over time. Spain’s debt-to-GDP ratio, for example, is almost 99 percent compared with around 40 percent in 2008. It has issued a lot of long-term debt in recent years, including a 50-year bond.

One year after historic tax increase, Illinois remains in the red

One of the largest issues the state failed to address with the budget was its largest debt: $130 billion in unfunded pension liabilities. “Fundamentally we are where we were three years ago in terms of our overall situation concerning the unfunded pension numbers,” said Bill Bergman with the nonprofit Truth in Accounting. “That’s despite a huge tailwind in the stock market.”

The Corporate Bond Market Is Getting Junkier

How does that break down? Corporate bonds rated BBB now total $2.56 trillion, having surpassed in size the sum of higher-rated debentures, which total $2.55 trillion, according to Morgan Stanley. Put another way, BBB bonds outstanding exceed by 50 percent the size of the entire investment grade market at the peak of the last credit boom, in 2007.

Mayor Cantrell's promise to remove some red light cameras would mean millions in lost revenue(NEW ORLEANS)

"How do you make up that significant piece of money when you know the expenses on the city side are going to increase, when you know the police department is potentially staring at a $7.8 million deficit, when department of public works and other agencies, affordable housing need more money?" questioned Giarrusso.

These Pictures. What is Wrong (GE Christenson)

As commercial and central banks devalue the dollar “currency risk” affects the debt markets and interest rates rise. Higher rates applied to $230 trillion of global debt require larger debt service payments and “squeeze” debtors including all sovereign governments.

Starvation and Habitat Threats Stalk Killer Whales (thc0655)

In the late 1990s, there were nearly 100 of these giant whales in the population. Following the salmon, they migrate in the Salish Sea to the northern coast of British Columbia and often surface in the south at Puget Sound within sight of downtown Seattle, especially during the spring and summer months. The males, which can weigh up to 22,000 pounds, typically live about 30 years, and females, up to 16,000 pounds, survive longer — up to 50 or 60 years, although one J-pod member, Granny, lived to be 105 years old.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/10/18

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, Jul 11, 2018 - 2:06pm



    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 1941

    Antifa goes capitalist to fight capitalism

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  • Thu, Jul 12, 2018 - 6:17am



    Status: Platinum Member

    Joined: Apr 13 2011

    Posts: 2293

    First, notice that you are uncomfortable ....

    You will probably not be able to even read the first sentance of this post unless you look inside your own physical experience and notice your reaction.  This discomfort and revulsion, is the force that hides awareness of this subject from ourselves first, and second, prevents open discussion.  
    As we say in medicine, the first thing to do when you arrive at a code is to "check your own pulse."  Note the quality of your internal process.  You will not have even gotten this far unless you are watching your own reaction and can remain curious about it.   Monitor your own heart and belly.  Stay conscious.
    Philip Giraldi, a retired CIA analyst, writes for the Unz Review about the impact of Jewish Power on the USA and the harm that causes.  Are you able to look at it?  
    Understanding Jewish Power:  Who Has Created a War Addicted America?
    In this picture, the major donor to the Democratic party and major donor to the Republican party pose together at the Israel-American Conference.  Both are united in what each has publically stated as their "single issue":  Israel.

    Giraldi writes:

    ... As I climbed up the CIA ladder I also noticed something else. There was the equivalent of a worldwide conspiracy to promote threats to keep big national security-based government well-funded and in place. When I was in Turkey I began to note considerable intelligence liaison reporting coming from the Israelis and others promoting their own agendas. The material was frequently fictional in nature, but the danger was that it was being mixed in with more credible reporting which gave it traction. U.S. government consumers of the reporting would inevitably absorb the dubious viewpoint being promoted that Arabs and Iranians were fundamentally untrustworthy and were in bed with the Soviets.

    There was considerable negative reporting on Saddam Hussein also coming out of Israel and motivated by his support of the Palestinians. Some of this ultimately surfaced in the Pentagon’s Paul Wolfowitz-Doug Feith assessments of “intelligence that had been missed” which eventually became pretexts for the catastrophic Iraq War. I later learned that both Feith and Wolfowitz had a virtually revolving door of Israeli intelligence officials and diplomats running through their Pentagon offices in the lead-up to that war.
    It did not take much to connect the dots and realize that Israel, far from being a friend and ally, was the principal catalyst for the many missteps that the United States has made in the Middle East. U.S. policy in the region was being deliberately shaped around Israeli concerns by American Jews ensconced in the Pentagon and White House who certainly knew exactly what they were doing. No one should blame the Israelis for acting in their own self-interest, but every loyal American should blame the Libbys, Feiths and Wolfowitzes for their willingness to place Israeli interests ahead of those of their own country.

    It does not take a genius to figure out that the United States is deeply involved in a series of seemingly endless wars pitting it against predominantly Muslim nations even though Washington has no vital interests at stake in places like Syria, Libya and Iraq. Who is driving the process and benefiting? Israel is clearly the intended beneficiary of a coordinated effort mounted by more than 600 Jewish organizations in the U.S. that have at least as part of their programs the promotion and protection of Israel. 

    Giraldi's conclusion

    Working on my presentation, I was forced to confront the evolution of my own views on both the corruption of government in the United States and the ability of powerful domestic lobbies to deliberately distort the perception of national interests to benefit foreign countries even when that activity does terrible damage to the U.S.

    Giraldi's views have evolved, and he now sees the impact of the American Jewish Leadership (Elite), not the Israeli Lobby, as the real force shaping American Politics.
    This topic is again vitally important as we go into the Putin-Trump summit.  Watch for the MIIC representatives, (aka, the Manhattan Elites, The American Jewish Leadership), to be an active force degrading movement towards freindship.

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  • Thu, Jul 12, 2018 - 12:57pm



    Status: Bronze Member

    Joined: May 03 2014

    Posts: 534

    I've been uncomfortable for years!

    The Godfather, Part III (1990):
    Vincent Mancini: "Don Lucchesi, you are a man of finance and politics. These things I don’t understand." 
    Don Lucchesi: "You understand guns? "
    Vincent Mancini: "Yes." 
    Don Lucchesi: "Finance is a gun. Politics is knowing when to pull the trigger.”


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