On average, Iowa employers faced premium increases of 8.4 percent for 2018, according to the new survey by consultant David P. Lind.
Iowa employers with fewer than 50 employees faced increases of more than 12 percent. Those employers are not required to offer health insurance, unlike larger companies.
Average workers in the bottom 40 percentiles of the earnings distribution saw their disposable earnings decrease over a 16-year period: In constant dollars, annual premiums for full-time, full-year single workers rose from $415 in 1999 to $1,068 in 2015, an increase of $623 per year.
Average U.S. health expenditures rose to $10,348 per person in 2016.
Cuts to government benefits, stagnant wages and a reduction in banks’ willingness to lend to the poor have since the 2008 crisis pushed many households’ finances to the brink.
Unsecured borrowing such as credit card debt rose to a record 213 billion pounds in June.
Investors pulled 8.7 trillion won ($7.8 billion) from mutual funds dealing in short-term debt and other cash-like instruments on Friday, the biggest single-day outflow ever from such products, according to the latest data from the Korea Financial Investment Association.
It is possible for the finance ministry to cut the final size of next fiscal year’s budget to below initial requests, but this is unlikely to ease concern about Japan’s debt burden, which is proportionally the highest in the world at more than twice annual gross domestic product.
In comparison, the U.S. debt burden is around 125 percent of gross domestic product, according to the Organisation for Economic Cooperation and Development.
We’re getting dangerously close. By the first quarter of this year, household debt was at an all-time high of $13.2 trillion.
Almost 80 percent of Americans are now living paycheck to paycheck. In a recent Federal Reserve survey, 40 percent of Americans said they wouldn’t be able to pay their bills if faced with a $400 emergency.
Total debt is a whopping $169 trillion, up from $97 trillion on the eve of the Great Recession, according to the McKinsey Global Institute.
Last week, Iran’s parliament sacked the minister of economic affairs and finance, the latest in a continuing shakeup of top economic personnel. In early August Iranian lawmakers voted out the minister of labour and in July President Hassan Rouhani replaced the head of the central bank.
The stakes are high: Italy is the eurozone’s biggest government borrower. While foreigners and households sold Italian debt this summer, Italian banks were buying it at the fastest pace since the eurozone debt crisis. That means any losses in Italian bonds puts more pressure on the banks’ already modest capital ratios, driving them to buy even more debt, according to research firm TS Lombard.
Worse yet, perhaps, households are keeping far more of their net savings in cash, not less. And their net savings going to banks are almost 50 percent lower than the five-year average before demonetization. In other words, the idea that the crackdown would leave banks flush with household savings that they could lend to productive parts of the economy has been comprehensively debunked.
Turkish banks may have to pay up once again as they rush to meet $6 billion of financing deadlines amid the country’s worst economic crisis in years.
At least nine lenders have to complete annual dollar loan syndications by year-end, leaving an industry heavily reliant on overseas funding little time and few options to conclude deals often involving dozens of global banks.
Indonesia is bracing for prolonged pressure on the rupiah amid souring emerging market sentiment exacerbated by Argentina’s economic woes, the country’s finance minister said on Monday, as the local currency plumbed its weakest levels since 1998.
The rupiah hit 14,825 per dollar on Monday, the weakest since the Asian Financial Crisis two decades ago, before closing at 14,810. It has lost nearly 9 percent this year.
“These were the worst five months of my life since I was abducted,” the president said, referring to the early ’90s when he was kidnapped for 12 days by a criminal gang that demanded several million dollars in ransom.
He said that he will ask more of exporters because they “have more capacity to contribute” and had benefited from the devaluation.
He also acknowledged that a tax on exports is “very bad,” but said that it was necessary because there was an “emergency” situation.
Lake Powell is about 48 percent full, and Lake Mead is about 38 percent full. By the end of the year, Powell’s levels are projected to fall 94 feet below where the reservoir stood in 2000 when it was nearly full…..The Colorado River and its tributaries support about 40 million people and more than 7,800 square miles of farmland.
The Growing Economic Sandpile (thc0655)
I’ll be quoting from a very important book by Mark Buchanan called Ubiquity, Why Catastrophes Happen. I HIGHLY recommend it if you, like me, are trying to understand the complexity of the markets. Not directly about investing, although he touches on it, the book is about chaos theory, complexity theory, and critical states. It is written so any layman can understand—no equations, just easy-to-grasp, well-written stories and analogies.
The study was recently circulated by the National Bureau of Economic Research: “Early Social Security Claiming and Old-Age Poverty,” by Gary Engelhardt, an economics professor at Syracuse University, Jonathan Gruber, an economics professor at MIT, and Anil Kumar, an economic policy adviser and senior economist at the Federal Reserve of Dallas.
Foreigners Selling UK Debt as Hard BEXIT appears (Thomas R.)
We can see on our Capital Flow Map where we trace the net movement of capital that Britain has turned RED. We have been monitoring the significant net capital flight from Britain thanks to Theresa May. This is also one primary reason it appears that the British pound is still is a distinctive bear market trend with respect to the broader term.
Analysis of the polling also recorded a shift in support for Remain across the UK, with 112 constituencies switching from major Leave-supporting to supporting Remain. There has been a shift towards Remain in 93% of constituencies, and 341 seats now favour staying within the EU, with 291 wanting to Leave.
“Better options might be found by thinking outside of this familiar framework. Lakes Mead and Powell, after all, are essentially one giant reservoir,” the group said. “Managing — and thinking — of these facilities as two distinct reservoirs, one for the benefit of the Upper Basin and one for the Lower, now seems outdated.”
At the moment Nauru’s main industry could perhaps be described as misery and suffering, courtesy of Australia’s offshore detention policies. Since 2013, when the offshore detention and processing centre reopened, Australia has been providing about two-thirds of Nauru’s GDP of $170m by way of direct aid, visa fees and payments to the government for hosting the refugees.
“1.5 is the goal that is needed for many islands and many countries that are particularly vulnerable to avoid catastrophic effects. In many cases it means the survival of those countries. With the pledges we have on the table now we are not on track to achieve those goals,” Espinosa told Reuters in a telephone interview on Sunday in Bangkok.
Gold & Silver
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