Daily Digest

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Daily Digest 12/28 - Japan Taking 'Big Step' Toward Ending Deflation, What Americans Spend On Healthcare

Wednesday, December 28, 2016, 9:54 AM

Economy

The U.S. spends more on health care than any other country. Here’s what we’re buying.

American health-care spending, measured in trillions of dollars, boggles the mind. Last year, we spent $3.2 trillion on health care -- a number so large that it can be difficult to grasp its scale.

Growing number of Americans are retiring outside the US

She is among a growing number of Americans who are retiring outside the United States. The number grew 17 percent between 2010 and 2015 and is expected to increase over the next 10 years as more baby boomers retire.

Saudi Arabia will tax expats and hike gas prices again

In response, the government has already slashed energy subsidies and cut wages for officials. But in a new report -- the Fiscal Balance Program 2020, published over the weekend -- it warns of dire consequences if it doesn't press ahead with more dramatic measures.

Modi to crank up campaign against India’s black money

Speculation is rife that he is also seriously considering other dramatic and unusual reform measures — including possibly abolishing income tax and replacing it with a banking transaction tax.

Brazil’s Public Accounts Worsen in November as Slump Drags on

The central government’s primary budget deficit, which excludes interest payments and the finances of states and municipalities, hit 38.4 billion reais in November - its worst-ever result for the month.

S.Korea household debt burden threatens vulnerable households as yields rise

The household debt-to-disposable income ratio was at 151.1 percent at the end of the third quarter, having risen 7.4 percentage points from the end of 2015.

ECB Says Paschi Needs $9.2 Billion of Capital, More Than Target

The European Central Bank said Banca Monte dei Paschi di Siena SpA needs about 8.8 billion euros ($9.2 billion) to bolster its balance sheet, almost twice the amount the Italian lender had sought to raise in a failed capital increase.

Kuroda sees Japan taking 'big step' toward ending deflation

As the global and Japanese economies improve, "to ensure that Japan never falls back into deflation, it is necessary to achieve 2% inflation in this round of monetary easing," Kuroda said.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/27/16

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."

9 Comments

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Government Destroys Couple's Rights Over Rainwater

From ZH:

Couple Forced to Destroy 40-Year-Old Pond On Their Own Property Because Govt Owns The Rainwater

Authored by Claire Bernish via The Free Thought Project,

An Oregon couple has been told they must destroy a 2-acre pond on their land — the property’s most attractive feature — because the government said so.

Although Jon and Sabrina Carey purchased the 10-acre property near Butte Falls two and a half years ago, the pond has been in place for 40 years — but that fact doesn’t matter to the Jackson County Watermaster’s Office.

“I basically bought a lemon,” said Jon, who became teary-eyed at the edge of the partially ice-covered body of water being targeted by government, in an interview with the Mail Tribune. “That’s how they explained it to me.”

And

But the couple desperately wants to keep the stunning longstanding feature in tact, so, as the Mail Tribune reports, the Careys have “pleaded with the Medford Water Commission to adopt the pond and treat it as a municipal water source, something Jackson County Watermaster Larry Menteer has opposed because of the precedent it would set.

“The Water Commission has rights to the watershed around the Careys’ property, where dozens, if not hundreds, of ponds are located, as well as Medford’s primary source of water, Big Butte Springs.”

http://www.zerohedge.com/news/2016-12-27/government-destroys-couples-rights-over-rainwater-if-youre-honest-they-take-everythi

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Posts: 4145
China may tighten capital controls as yuan outflow continues

China may tighten capital controls as yuan outflow continues

South China Morning Post-7 hours ago
China's US Treasuries holdings fell to US$1.12 trillion at the end of October, slightly less than the US$1.13 trillion held by Japan, losing the crown of being ...

Wisconsin's Transportation Secretary Resigns, Amid Agency Facing Huge Deficit

WUWM - ‎20 hours ago‎
Walker, effective January 6, as secretary of Wisconsin's Dept. of Transportation. The DOT is facing a one billion dollar deficit and sharply differing opinions about how to address it. Walker promotes borrowing more money and delaying some highway ...

 

Mots's picture
Mots
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Posts: 196
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blackeagle's picture
blackeagle
Status: Silver Member (Offline)
Joined: May 16 2013
Posts: 223
Weird

I used to leave in places where water is not property of anyone. I have difficulty understanding how someone, or an organization, can own water or water rights, on other's property.

Here in Canada, all water bodies belong to the federal government. When someone builds a new pond, then it becomes automatically protected by federal and provincial laws (There is of course a minimum size threshold to reach - below this threshold, it is not considered as significant part of the water network).

I purchased a piece of land in 2012 with two ponds on it. These ponds, as I was informed later, were illegally built in 2003. The environment inspector informed me that these ponds are now protected and no authorization would be granted to do any modification on them (enlarge, backfill, etc...). Since the ponds are there, that a new ecosystem has taken place, it would be stupid to destroy all this life.

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
I agree, blackeagle, it is weird

I can't get my head around the government having such control over ponds on property owners' land.  Striving for self-sufficiency is challenging enough, without having to contend with such stifling regulations.

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 414
Weird

They are growing cannabis and the town/county does not like it. The water in the pond is being used to irrigate there cannabis crop. You have to read the entire article.

That said you do have to be careful about land purchaces: Mineral and ground water rights. Sometimes land is sold without the rights below ground, prevent use of ground water, or some other entity as drilling/mining righs and can put a drilling rig or other infrastructure on your property without your permission. 

 

 

 

reflector's picture
reflector
Status: Gold Member (Offline)
Joined: Aug 20 2011
Posts: 269
greg hunter interviews warren pollock

good interview.

warren pollock is truly an original thinker.

covers the election, recent events, and where the country is headed.

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 414
Re:China may tighten capital controls as yuan outflow continues

"China may tighten capital controls as yuan outflow continues"

The problem with China putting capital controls is it spooks investors and make more people seek ways to exits to avoid devaluation and capital controls.  Looks like the race to become the next greece is shaping up to be a tight race with these nations in the lead:

1. Italy

2. China

3. Japan

4. Portagal

5. Spain

6. Japan

There is a chance that when one goes the rest will fall soon after like dominos.

 

 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1447
Re: ECB Says Paschi Needs $9.2 Billion of Capital, More Than

More socialized losses for private investor gain.   Why isn't aren't Italians protesting this?   Put the bank down and sell good assets.   

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