Turkish credit risk climbed to the highest since the 2008 global financial crisis as President Recep Tayyip Erdogan lashed out at the U.S.
After plunging by more than 1 percent on Monday, the rupiah on Tuesday hit its weakest level since October 2015, at 14,630 a dollar, before recovering slightly.
The level of U.S. consumer debt was $618 billion higher than the previous peak of $12.68 trillion in the third quarter of 2008. It was 19.2 percent above a post global credit crisis low set in the second quarter of 2013, the New York Fed said.
The IRS says so far, it’s in the process of sending more than 360,000 names of individuals who owe $51,000 or more in delinquent taxes. The program, part of the Fixing America’s Surface Transportation Act from 2015, requires the State Department to deny new or renewal passport applications, and in some cases, revoke current passports.
Outstanding education debt in the U.S. has tripled over the last decade and now exceeds $1.5 trillion, posing a greater burden to Americans than auto or credit card debt.
For many, the payments are proving unmanageable. By 2023, nearly 40 percent of borrowers are expected to default on their student loans.
The Indian rupee fell to an all-time low Tuesday against the U.S. dollar amid worries that Turkey’s growing financial crisis could spread to other developing-world economies.
The extra yield that investors demand for holding Italian bonds over top-rated German ones rose to its highest since late May earlier on Monday, briefly rising above 280 basis points before easing back to around 275.
Argentina’s currency has lost almost as much as Turkey’s, with its peso down 37.8 against the greenback in 2018. The government has cut its full-year 2018 economic growth forecast to zero from 0.5 per cent, treasury ministry official Guido Sandleris told reporters on Monday.
Nebraska on Tuesday morning is scheduled to carry out the state’s first lethal injection and the first execution in more than 20 years, deploying an untested, four-drug cocktail that includes the powerful synthetic opioid, fentanyl.
“Camber Pharmaceuticals is recalling certain valsartan tablets because they contain the impurity N-nitrosodimethylamine in the active pharmaceutical ingredient (API),” the FDA reports. “Test results from Hetero Labs show the amount of NDMA found in its valsartan API exceeds acceptable levels; although it is generally lower than the amount discovered in the API manufactured by Zhejiang.
The process of ovulation, when a women’s egg becomes ready to be fertilized, causes a women’s average body temperature to rise less than one degree. So in order for the app to calculate a women’s likelihood of being fertile, users need to input readings from a digital thermometer that measure temperature past the two digits after the decimal.
India announced back in July that it would halt purchases of Iranian oil and gas in November. However, on Tuesday, Bloomberg reported that India was preparing to cut its imports of Iranian oil by half, in order to earn a waiver from U.S. sanctions. India plans to argue that it can’t obtain energy products from any other producer at competitive rates.
The Sleepwalkers (James W.)
The media, with the odd exception, have failed to “connect the dots” on these interconnected crises, which can be summarised as the rising tide of system failures and collapses caused by the bigger forces of the inexorable decline in the supply of readily available fossil fuels and the global impact caused by climate change.
Everyone should use caution while approaching any wild animal, particularly any animal, wild or domestic, which exhibits signs of being ill. Some signs are a tame or dazed look, excessive drooling or foaming of the mouth, difficulty swallowing, dragging hind legs and mobility problems.
Gold & Silver
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