Daily Digest

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Daily Digest 4/5 - High Student Debt Quadrupled In 10 Years, Half Of Americans Living Paycheck To Paycheck

Wednesday, April 5, 2017, 8:07 AM


Half of Americans are responsible for only 3 percent of health care costs

The top 1 percent of health-care spenders use more resources, collectively, than the bottom 75 percent, according to a new study based on national surveys. Slice the data a different way, and the bottom half of spenders all together rack up only about 3 percent of overall health care spending

Number of people who owe over $100,000 in student debt has quadrupled in 10 years

In 2016, borrowers with $100,000 in student loans or more make up just 5% of borrowers, but account for about 30% of total outstanding student debt, the data show. What’s more, these borrowers appear to be struggling more than they have in recent years.

Italy budget deficit widens in March, first-quarter deficit also higher

However, the European Commission says Italy needs faster deficit reduction to bring down its huge public debt of around 133 percent of gross domestic product, the highest in the euro zone after Greece's.

Emerging Q1 global bond issuance at record $181 bln -JPM data

Emerging market borrowers raised
a record $181 billion in global bond markets during the first
quarter of 2017, with both corporate and sovereign tallies
surpassing previous highs, data from JPMorgan showed.

U.S. households will soon have as much debt as they had in 2008

The New York Federal Reserve announced Monday that in 2017 total household debt will reach its previous peak of $12.68 trillion, which it reached in the third quarter of 2008. It’s already close: Total household debt in the fourth quarter of 2016 was nearly as high, at $12.58 trillion.

Venezuela Credit Dashboard: Default Risk Spikes as Payment Looms

If PDVSA manages to pay its debt on April 12, the company and Venezuela will get some breathing room before facing payments of $3.5 billion in October and November. The odds of a credit event over the next five years is 92 percent, according to CDS data.

EU Steps Up Efforts to Deal With $1.1 Trillion Bad-Debt Pile

European Union leaders are stepping up efforts to deal with the more than 1 trillion euros ($1.1 trillion) in non-performing debt weighing down the bloc’s lenders.

S. Korea's national debt hits record high in 2016

South Korea's national debt surpassed the 600 trillion-won (US$536.7 billion) mark to hit a record high last year due to an expansionary fiscal policy to bolster the sluggish economy, the finance ministry said Tuesday.

Half of Americans are desperately living paycheck to paycheck

Some 50% of people is woefully unprepared for a financial emergency, new research finds. Nearly 1 in 5 (19%) Americans have nothing set aside to cover an unexpected emergency, while nearly 1 in 3 (31%) Americans don’t have at least $500 set aside to cover an unexpected emergency expense, according to a survey released Tuesday by HomeServe USA, a home repair service.

Global debt hits $215 trillion in 2016, led by emerging markets: IIF

Global debt rose to 325 percent of the world's gross domestic product in 2016, totalling $215 trillion, an Institute for International Finance report released on Monday showed, boosted by the rapid growth of issuance in emerging markets.

Gold & Silver

Click to read the PM Daily Market Commentary: 4/4/17

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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Open Source Ecology 3D printers

I'm fascinated by the Open Source Ecology movement.  A Ph.D. astrophysicist, Marcin Jakubowski, (Polish) dropped out of the scientific academic life and now lives on a little farm in Missouri.  He is deeply involved in designing and building open source machinery using common parts that could be used to kick start civilization.

He has build tractors, harvesters, grinders, routers and many farm tools using common components that are nonproprietary.  The idea is that anyone with a functioning machine shop and stock metal supplies, bearings, electrical connections, etc., should be able to build a tractor and other farm equipment from these plans.

He has an upcoming workshop on building a 3D printer using the same general approach.

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US retail default rate could hit 9% in next 12 months – Fitch

EconomyDraghi damps talk of ECB raising negative interest rates

Financial Times - ‎5 hours ago‎
Mario Draghi has played down speculation his central bank could drop its experiment with negative interest rates later this year, saying there were no plans to change the ECB's commitment to keep rates on hold at least until the end of QE. Retail banks ...

European Central Bank's Draghi says stimulus still needed

The Seattle Times-5 hours ago
FRANKFURT, Germany (AP) — European Central Bank head Mario Draghi insisted Thursday that the bank's stimulus efforts were still needed, while ...

Australia's national debt soaring, now close to $500 billion

Yahoo7 News-Apr 5, 2017
Australia's national debt has grown rapidly in the past decade and is now fast approaching ... In 2007, gross Australian Government debt was $53.25 billion.

State Budget 'at its worst since Great Depression'

The West Australian - ‎7 hours ago‎
The Premier this morning said he had been losing sleep over the condition of the budget after a fresh $1.2 billion write down in forecast revenues blew out the State's unprecedented debt and deficit levels. As a consequence of the fiscal situation, the ...

"Junk"-rated debt could cost South Africa more than $10 billion in ...

Reuters UK-2 hours ago
"Junk"-rated debt could cost South Africa more than $10 billion in lost funds ... government debt, with local sovereign bonds tallying up to 1.722 trillion rand ...

China's Local Debt Nightmare Is Getting a Rerun After Rating Cut

Bloomberg-5 hours ago
Offshore debt sales by LGFVs have trailed expectations this year, with $1.2 billion sold by four issuers, down from 21 deals worth $5.3 billion in the fourth quarter ...

China's Dongbei Steel says faces "uncertainties" paying interest on ...

Nasdaq-4 hours ago
The company has been at the heart of troubles in China's debt market, defaulting ... up the sector, even as companies such as Dongbei Steel continue to default.

US retail default rate could hit 9% in next 12 months – Fitch

Financial Times-15 hours ago
The debt woes of private equity-owned Payless — it was acquired in highly leveraged 2012 buyout — had earned it a spot on Fitch's Loans of Concern list, ...


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