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    Daily Digest 8/17 – Aetna To Exit Most Obamacare Plans, U.S. Real Estate Market Getting ‘Bubblicious’

    by saxplayer00o1

    Wednesday, August 17, 2016, 1:42 PM

Economy

Aetna to exit nearly 7 in 10 Obamacare plans

The company’s decision, which it blamed on heavy losses tied to the insurance plans, follows similar moves by competitors such as UnitedHealth Group, the nation’s largest insurer.

Retirees Need $130,000 Just to Cover Health Care, Study Finds

For a while, it looked as if health care costs were holding steady, but Fidelity this year says couples need to set aside a record $260,000 for Medicare premiums and all other out-of-pocket medical costs—up 6 percent from last year and 18 percent from 2014.

Pressure mounts on Portugal rating, says DBRS

DBRS’s view is closely watched because it is the only one of the four ratings agencies recognized by the ECB to have an investment grade rank for Portugal. It needs a rating of that category to qualify for the central bank’s quantitative easing program and for the ECB to accept Portugal’s bonds as loan collateral.

Saudi Companies Unable to Pay Foreign Workers Salaries in Arrears

Thousands of foreign workers in Saudi Arabia, most of them Asian, are in financial dire straits as large Saudi corporations are in arrears with their salaries, a crisis due to the freeze on many construction projects after the oil prices collapse.

Sovereign Risk Rating Downgrades Greatly Exceed Upgrades in Second Quarter, IHS Markit Says

Sovereign risk rating downgrades exceeded upgrades by a ratio of more than three to one, according to a new study by IHS Markit (INFO), a world leader in critical information, analytics and solutions. Sovereign risk downgrades outpaced upgrades by 61 to 19, based on the latest analysis from IHS Sovereign Risk Review.

Barrack Says U.S. Real Estate Market Is Getting ‘Bubblicious’

Real estate investors could be in for a shock if interest rates rise or demand in some markets continues to fall because “amateurs” are plowing money in at high prices, betting on rent increases that may not continue, said Tom Barrack, the billionaire chairman of Colony Capital Inc.

How the BOE’s Stimulus Measures Up to the ECB’s

The BOE will buy 10 billion pounds ($12.9 billion) of U.K. company debt over 18 months while the ECB has acquired 16.2 billion euros ($18.1 billion) of notes since June. The British initiative, as a “knee-jerk reaction to the Brexit vote,” is also much less lofty in its goals than the ECB, which is buying company debt as part of monetary policy stimulus that’s intended to boost inflation, said Wells Fargo & Co. strategists led by Nathaniel Rosenbaum.

Illinois’ debt amounts to $45,500 per taxpayer

Got $45,500? If you’re an Illinois taxpayer, that’s your share of Illinois’ unpaid bills, according to a nonpartisan accounting group that issued a report earlier this year.

Australia’s Central Bank Cut Rate to Boost Inflation, Growth

Australia’s central bank said inflation would remain low and the economy could grow faster, while house-price concerns had cooled, in explaining its decision to cut interest rates for the second time in four months.

Fed’s Williams says inflation target should be increased

The current target “is not well suited” for the new low-interest-rate era because “there is simply not enough room for central banks to cut interest rates in response to an economic downturn,” Williams said.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/16/16

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. 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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3 Comments

  • Wed, Aug 17, 2016 - 3:37pm

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2922

    Junk-rated Chicago Public Schools eye up to $945 million of bond

    Spanish public debt jumps above 100 percent of GDP in June

    Reuters6 hours ago
    Public debt rose by 18.5 billion euros from May to June, the data from the Bank of Spain showed. In spite of a political deadlock now in its eighth month, Spain's …

    BOJ Firepower Fizzles as Currency Market Dares Japan to Act

    Bloomberg13 hours ago
    The foreign-exchange level is a concern for Japan's policy makers because it threatens to wipe out the effects of more than three years of central-bank stimulus, …

    South Korea Plans 50-Year Bonds

    Wall Street Journal8 hours ago

    South Korea should think of adding 50-year bonds to its government debt, … sell 1 trillion won (about $910 million) of 50-year treasury bonds while reducing the .

    Junk-rated Chicago Public Schools eyes up to $945 million of bonds

    Reuters – ‎19 hours ago‎
    Escalating pension payments, drained reserves and debt dependency have pushed CPS' credit ratings to junk. As a result, investors have demanded hefty yields for the district's bonds. Even a private sale of $150 million of 30-year GO bonds by CPS last …

    U.K. Dividends at Risk as BOE Action Swells Pension Hole

    Bloomberg11 hours ago
    BT has warned that its pension deficit, which rose to 7.6 billion pounds in June from 6.4 billion pounds in March, could affect shareholders. It said in its annual …

    Maryland pension system misses earnings target

    Washington Post18 hours ago
    Maryland's public pension system missed its annual target for returns by … up like Illinois or Pennsylvania, where the unfunded liability was allowed to increase,” …

    Aetna changes add consumer pain as health care costs to rise in 2017

    USA TODAY17 hours ago
    Aetna's decision to leave the Affordable Care Act exchanges in 11 states follows dozens of similar decisions by large and small insurers across the country, …

    Kansas employees face higher out-of-pocket health costs in 2017

    Wichita Eagle20 hours ago
    The changes were determined by the state's five-member Health Care Commission, … “While no one wants to see costs increase, timely plan design changes, …

     

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  • Wed, Aug 17, 2016 - 6:22pm

    #2

    Taz Alloway

    Status Bronze Member (Offline)

    Joined: Feb 18 2010

    Posts: 461

    Are We Feeling Collective Grief Over Climate Change?

    IMO – it is not just climate change. It is human activity progressively degrading ecosystems, air/water quality, landscapes and biodiversity…

    "The deterioration of our planet—the only home we have ever known and an assurance we used to take for granted—is bound to elicit a wide range of emotions in different individuals. Mourning is personal, but as a species, could it be that we are making our way through the stages of grief as outlined by the late Dr. Elisabeth Kübler-Ross?"

    http://blogs.scientificamerican.com/guest-blog/are-we-feeling-collective-grief-over-climate-change/

     

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  • Wed, Aug 17, 2016 - 9:09pm

    #3

    Taz Alloway

    Status Bronze Member (Offline)

    Joined: Feb 18 2010

    Posts: 461

    'Boomers' and 'Stickers'

    The boomer is motivated by greed, the desire for money, property, and therefore power. 

    Stickers on the contrary are motivated by affection, by such love for a place and its life that they want to preserve it and remain in it. 

    “It All Turns on Affection”

     

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