Daily Digest

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Daily Digest 7/19 - Insurance Set To Soar For Some In LA, Private Student Loan Debts Could Be Wiped Away

Wednesday, July 19, 2017, 9:21 AM

Economy

Health insurance rates set to soar for some in Louisiana

Rate increases averaging from 11.9 percent to 35.5 percent are on tap in 2018 for many Louisianians who buy health insurance through the federal marketplace as Republicans look to dismantle Obamacare.

Fort Worth pension woes bring second downgrade from Moody’s

Fort Worth is not alone in dealing with pension issues. State and local public pensions nationwide are underfunded by $5.6 trillion dollars, according to a 2016 report by the American Legislative Exchange Council.

Venezuela has less than $10 billion -- lowest reserves in over 20 years

Even compared to its neighbors, Venezuela's cash pile is worrisome. Brazil just ended its longest recession on record. It has $362 billion in the bank.

Argentina also just exited a recession, and it has $48 billion, according to IMF and central bank data.

As Paperwork Goes Missing, Private Student Loan Debts May Be Wiped Away

Some of the problems playing out now in the $108 billion private student loan market are reminiscent of those that arose from the subprime mortgage crisis a decade ago, when billions of dollars in subprime mortgage loans were ruled uncollectible by courts because of missing or fake documentation.

Japan gov't says to miss primary surplus goal, debt/GDP ratio to fall

Japan's government said on Tuesday that even under its most optimistic forecasts it still expects to miss its goal of returning to a primary budget surplus in fiscal 2020 as tax revenue grows slightly less than expected.

Japan Central Bank's ETF Shopping Spree Is Becoming a Worry

Its ETF buying, now targeted at around 6 trillion yen ($53 billion) annually, is the subject of continued questioning. The concern inside the BOJ coincides with its growing presence in the market. The BOJ owned about 71 percent of all shares in Japan-listed ETFs at the end of June, according to a Bloomberg analysis of data from the central bank and Japan’s Investment Trusts Association.

Jeff Sessions wants police to take more cash from American citizens (Yoxa)

Asset forfeiture is a disputed practice that allows law enforcement officials to permanently take money and goods from individuals suspected of crime. There is little disagreement among lawmakers, authorities and criminal justice reformers that “no criminal should be allowed to keep the proceeds of their crime.” But in many cases, neither a criminal conviction nor even a criminal charge is necessary — under forfeiture laws in most states and at the federal level, mere suspicion of wrongdoing is enough to allow police to seize items permanently.

Ecuador Abandons The OPEC Deal: Who’s Next? (Michael K.)

However, it isn’t Ecuador’s production levels that should be concerning. It is the psychological and political impact that a withdrawal from the deal could have on the commitments from other members. Oil analysts have long argued that compliance with the cuts will weaken over time, as has historically been the case. We now have the first OPEC member that has succumbed to persistently low oil prices, deciding that the collective output reductions are not worth the trouble. How long before other members come to the same conclusion?

City of Chicago posts deleted EPA climate change information on website (Jen H.)

"The Trump administration can attempt to erase decades of work from scientists and federal employees on the reality of climate change, but burying your head in the sand doesn't erase the problem," Mayor Rahm Emanuel said in a statement Sunday.

Emanuel urged other U.S. mayors to do the same thing.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/18/17

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."

2 Comments

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1763
Backpackers Guide to Bugging Out

I came across this nice summary written by a backpacker.  It concerns the situation where a person or small family needs to walk to a safer location a few days distant.  The author emphasizes a comfortable pack, and limiting the weight to 35#.  In the abstract, it is nice to have lots of stuff.  But the ability to move is greatly limited by a heavy pack and the chances of injury is increased.  (A twisted ankle can be life threatening in the wild.)

She/He includes amazon.com links to all of the products mentioned, so they are easy to find specific products.  (I am often frustrated by overly general advice like "Find a well made, high-quality tent that is not too expensive.")

The author includes the recommendation of a book by Joe Nobody and T. Pike, The Prepper's Guide to Cashes.  Before the crisis, drive your stuff to the bug-out location and hide it there.

I thought this was very well done and the specific products very helpful.

 

lambertad's picture
lambertad
Status: Silver Member (Offline)
Joined: Aug 31 2013
Posts: 172
Hunting for education

Sandpuppy,

I think the article you posted brings up some good points. One thing that I would add is to forget a tent and go for a legitimate 4 season backcountry setup. Kifaru, jimmy tarps, titanium goat etc have '4 season shelters'. For example, the titanium goat 6.5 vertex is a teepee that weighs in at 2lb 12 oz with stakes. You can cut a center pole out of a limb. That model covers 102 sq feet and is tall enough to stand in and comfortably sleep 3 easy. If you add a small wifi stove (also made by TG) that adds around 16 oz. You can literally have a structure with wood fired stove for less that 4 lbs. I've learned about a lot of these products through back country hunting and back country hunting websites. The idea with back country hunting is to get at a minimum 1-2 miles from any and all roads because that is where the animals are. With that in mind you have to go light, especially to pack elk quarters out of the woods on your back. 

Anyway, the 4 season setups aren't cheap but look up some YouTube videos of guys using them in extreme weather, it's pretty impressive. 

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