Daily Digest

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Daily Digest 6/7 - Household Debt On The Rise, Costs And Consequences Of IL Budget Crisis

Wednesday, June 7, 2017, 9:10 AM

Economy

List: Costs and consequences of Illinois' budget crisis

In that time, the state’s credit rating has been downgraded eight times, the backlog of unpaid bills has surpassed $14.5 billion, more than 1,500 employees at public universities and community colleges have been laid off and countless social service providers are struggling to keep their doors open as they wait up to seven months to receive payment from the state.

Oregon PERS cost-cutting proposal includes 'risk sharing' account

The so-called unfunded liability is currently $20 billion. Consequently, the PERS agency projects steep cost increases for public employers, with the obligation growing from 17 percent of payroll today to 34 percent by 2021.

4 things you need to know about the new state pension reform plan (Pennsylvania)

The bill does not address the roughly $60 billion in unfunded liability the state is projected to owe current workers and retirees. That debt, among the largest for any state in the nation, has ballooned since the state’s last public pension overhauls in 2001 and 2010.

Venezuela looks to sell discounted $5B in bonds

Unable to tap debt markets, the government has turned to a strategy of issuing bonds directly to state-controlled entities that then try to resell the debt to foreign buyers for hard currency at bargain-basement prices.The bonds picked up by Goldman Sachs in May were sold for 31 cents on the dollar, via U.K. broker Dinosaur Group.

Puerto Rico highway creditors take 'clawback' fight to court

The diversions, or "clawbacks," were imposed by the U.S. territory's government last year to keep Puerto Rico afloat as it battled $70 billion in debt, a 45 percent poverty rate and near-insolvent healthcare and pension systems. They applied to several public agencies, including HTA.

Australians curb spending as household debt balloons

With cash interest rates at a record low and house prices near record highs, the nation's household debt-to-income ratio has climbed to an all-time peak of 189 percent, according to the Reserve Bank of Australia (RBA).

Trump’s America Is Facing a $13 Trillion Consumer Debt Hangover

There are early signs that loan burdens are growing unsustainably large for borrowers with lower incomes. Household borrowings have surged to a record $12.73 trillion, and the percentage of debt that is overdue has risen for two consecutive quarters. And with economic optimism having lifted borrowing rates since the election and the Federal Reserve expected to hike further, it’s getting more expensive for borrowers to refinance.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/6/17

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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saxplayer00o1's picture
saxplayer00o1
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Illinois Bondholders Stand Pat as State Veers Toward Cut to Junk

Illinois Bondholders Stand Pat as State Veers Toward Cut to Junk

Bloomberg-13 minutes ago
Illinois's debt was downgraded to one step above junk by Moody's Investors Service ... for less than 1 percent of its $122 billion holdings of state and local debt.

Federal Judge To Decide If Illinois Should Speed Up Payments To Medicaid

WVIK - ‎16 hours ago‎
A federal judge in Chicago signaled Tuesday that she would mandate the Illinois state government to pay Medicaid providers faster, bumping more than a billion dollars in late payments to the front of an already long line of unpaid bills. While no ...

S&P affirms US debt rating at second highest

ABS-CBN News - ‎14 hours ago‎
While Congress is expected to raise or suspend the debt limit albeit "potentially with heated discussion," S&P said the debate "weighs on the economy." S&P noted the high level of US government debt, and said uncertainty about the future of economic ...

Student loan debt soars as graduates struggle to keep up with ...

WPRI 12 Eyewitness News-14 hours ago
PROVIDENCE, R.I. (WPRI) – Student loan debt is soaring. It now tops $1.34 trillion, according to the Federal Reserve Bank of New York's quarterly report on ...

Russia Confirms Venezuela Defaulted on $1 Billion

Latin American Herald Tribune - ‎5 hours ago‎
In the 2016 Protocol, Russia and Venezuela had agreed to restructure the Venezuelan debt of $ 2.84 billion, with a new schedule of payments $530 million through 2019-2021. The other $2.2 billion of the debt was to be repaid by Venezuela within five ...

 

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London Terror to Complete Brexit Coup d’Etat

London Terror to Complete Brexit Coup d’Etat (Hang the Bankers)

Quote:

The problem is that majority of citizens in the world support these long-developed and popular social infrastructures and standards. So the only way of continuing to defund, privatize and erase them is by pretending there are much more modern and flexible marketable versions for corporate and bank profit.

One way or another, and there are many ways, this process of historical reversal and laying waste to over a century of social evolution and life standards is the sum and substance of all establishment political parties in power.

It is the Great Coup d’Etat of Globalization which has increasingly spread and ruled the world. All the degenerate trends of extreme inequality, private money power over all, rising youth unemployment, pervasive state corruptions, massive dispossessions, override of long-established workers’ rights, and multiplying ecocidal production and products – the list is a vast profile of one-way degeneration of social systems across borders  – are put on fast-forward by corporate and bank globalization.  And all remain unconnected in the mass media and avoided by governing political parties.

So it may seem that the erupting new ‘nationalist’ movements in US and Britain, Eastern Europe and Russia, and so on, are the great swing back against corporate and bank globalization. This is the Great Illusion of our time.

What is hardly yet seen is that, in fact, these ‘nationalist’ movements, as in Trump US and Tory Britain racing ahead today, do nothing to connect or to solve any of these life-and-death social system problems and the cumulative pollutions and razzings of organic, social and ecological life organization across the globe.

They are only a speed up of the global ecogenocidal proceses under the pretexts of new national recovery and freedom.

One can always tell this by whether or not the ecocidal processes and products are effectively ruled out rather than accelerated in fact, and whether or not societies are so governed that more citizens become better off in life work security and free development rather than the opposite in fact.

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SITE Intelligence Claims ISIS behind Iran Attacks

The SITE Intelligence Group, run by Rita Katz, Israeli citizen, former IDF soldier, daughter of an executed Mossad agent, now turned to the private-sector intelligence services, has released a statement "from ISIS" claiming responsibility for the attacks in Iran today.

Ms Katz explains that her company uses her connections in the intelligence community to "find" videos which she sells to the US Intelligence agencies and reputable news papers.

After "finding" them, though, she puts her SITE Intelligence Logo on the videos before distribution.  Here is the statement she "found" where ISIS claims responsibility.

 

SITE is the same group that "found" the numerous fake Osama bin Laden videos and the fake James Foley and Steve Sotloff beheading videos.

The many Osama bin Ladens found by SITE Intelligence.

 

Beheadings

William Engdahl reports on the beheading videos:

On September 2, it was Katz’s SITE that released the video of Sotloff’s murder to the world. ... They claim that they discovered the video of Sotloff’s execution on what they called “a file-sharing site” and released it. Interesting, the same SITE Washington group of Rita Katz released a fake video of Osama bin Laden.

Jeff Smith, Associate Director of the CU Denver National Center for Media Forensics said “What’s most interesting is that the actual beheading that takes place in the videos, both of them are staged,” Smith in a CBS TV interview. Smith said the production value is of high quality. There was likely a director and the use of several cameras and editing equipment. “I’ve not seen a video made by terrorists of this quality…this isn’t the typical handicam video in a cave,” said Smith.

Both Sotloff and Foley videos when viewed are ... similar. In both, a black-hooded executioner, nicknamed in the British press as “Jihadi John” for his strong London accent (!), supposedly takes a sharp knife to the throat of a kneeling, orange-clad James Foley and Steve Sotloff. Then, curiously, Jihadi John begins ostensibly slashing the throats of each, not once, but six times….not a drop of blood. Both Foley and Sotloff bravely kneel, head upright, no knee-jerk avoidance reaction one would expect. Then, just when the heads should be severed, in each, there is a blackout. Next scene: body on ground, head sitting atop. Professionally staged. Look for yourself.

-------------------------------------

Having a Mossad propaganda outlet feeding false information to the US media is not really "evil."  It is simply effective and clever deception.  Basketball players use head fakes, fencers feint, football players fake handoffs, and completing gangs will leave evidence at the scene of a crime to "frame" an opposing gang.

The goal here appears to be to bring the US/NATO in to defeat Israel's enemies while Israel appears to sit quietly on the sidelines outside the fray (and blowback).

As Leo Strauss has advocated: 

  • Truth is harmful to the common man and the social order and should be reserved for superior minds.
  • nations derive their strength from their myths, which are necessary for government and governance.
  • national myths have no necessary relationship with historical reality: they are socio-cultural constructions that the State has a duty to disseminate.
  • to be effective, any national myth must be based on a clear distinction between good and evil; it derives its cohesive strength from the hatred of an enemy nation.

------------------

Sun Tzu heartily agrees and recommends the use of of deception in warfare:

All warfare is based on deception. Hence, when able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.

“The supreme art of war is to subdue the enemy without fighting.” 

“Supreme excellence consists of breaking the enemy's resistance without fighting.

“The greatest victory is that which requires no battle.”

“Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.

 

 

 

 

 

 

 

sand_puppy's picture
sand_puppy
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"Reputable" NYT uses SITE Statements

"Reputable" NYT uses the SITE Intelligence Group Statements

No sooner than I posted the above piece did I read the NYT version of the story attributing the attacks in Iran to ISIS. 

Their source:  The SITE Intelligence group statement--

The Consortium News documents time and again MSM spreading false narratives.

 

thc0655's picture
thc0655
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Posts: 1388
Unarmed British police run away from London terrorists

Following the advice of their own new public campaign ("Run. Hide. Tell.") some unarmed British police ran away from the knife-wielding terrorists.  Of course, one who didn't run away was seriously wounded.  Only on TV and movies do action heroes go up against an edged weapon unarmed and prevail without a scratch.

http://www.thegatewaypundit.com/2017/06/london-citizens-throw-chairs-terrorists-unarmed-police-ran-away/

Guardian reporter Lisa O’Carroll is at Borough Market, where she says multiple stabbings have been reported:

Witnesses said they saw two men stabbing people outside the well-known Roast restaurant in Borough market. A chef from the nearby Fish restaurant said: “I saw two guys with big knives downstairs outside Roast. They were stabbing people. The police were running away, they were community police. They were normal officers, they were running away.

http://www.thegatewaypundit.com/2017/06/london-islamists-wearing-fake-suicide-belts-first-policeman-terror-scene-armed-baton-video/

On Saturday night Islamic terrorists mowed down pedestrians on London Bridge then went on a killing spree in London. Seven people were killed and over 50 were injured.

The first police officer on the scene last night in London was equipped only with a baton.

He was stabbed in the neck and face by the Islamist killers.

Remember: the unarmed British police officer in the attack on Parliament was killed by the terrorist with a knife.

So, let's get real.  Does the public really expect unarmed police to stand and go toe-to-toe with armed terrorists determined to kill and die?  Is that a realistic expectation?  Will policies and the British culture change in a way that produces more armed police?  Will British citizens demand to become legally armed to defend themselves?

When this comes to the USA in a big way (and it will), will Americans meekly submit or arm themselves and fight back?  Forward thinking people in the US would be arming themselves and getting trained NOW.  It will be too late once a person finds themselves in the midst of an attack.  You're already more on your own than you realize.

Imagine this funny commercial, but instead of a "security monitor" at a bank robbery, imagine it's British police at a terrorist attack.  "Run. Hide. Tell."  Once again, you have to laugh to keep from crying.

https://www.ispot.tv/ad/Ant5/lifelock-fix-it

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