Daily Digest

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Daily Digest 7/26 - Venezuela’s Crises In Charts, IMF Says Calls For Stimulus End 'Premature'

Wednesday, July 26, 2017, 7:40 AM

Economy

Venezuela’s economic and political crisis in charts

Ninety-three per cent of Venezuelans said their income was not sufficient to buy the food they need, according to a survey by some of the country’s top universities. Nearly three in four Venezuelans reported suffering weight loss last year, and, of those, a 9kg loss on average. The price of basic groceries for a family is currently about 15 times the minimum wage and prices continue to rise.

Uncertainty Over Obamacare Leaves 2018 Rates In Limbo

The federal government next month is expected to release detailed info on health insurance companies raising their rates by more than 10 percent – which analysts expect to be most insurance companies across the country.

Student loan borrowers, herded into default, face a relentless collector: the U.S.

In past years, that’s when she received her federal Earned Income Credit tax refund.
The check never came.
On the phone, an Internal Revenue Service agent told her the Department of Education (DOE) was “holding back” the $8,220 refund to recoup some of her student loan debt. It would probably do the same next year, the agent told her, to recover the rest of the nearly $17,000 she owed.

IMF says ECB should maintain stimulus, calls for end are 'premature'

The European Central Bank should maintain a "firmly accommodative" monetary policy for an "extended period", the International Monetary Fund said on Tuesday, as it forecast inflation remaining below target.

Record-Low ECB Rates Are a €1 Trillion Government Windfall

Euro-area governments have saved almost 1 trillion euros ($1.16 trillion) in interest payments since 2008 as record-low European Central Bank rates depress bond yields at a the time when state treasurers are also reducing debt. That’s according to calculations by Germany’s Bundesbank

New Board Members Agree BOJ Is Far From Talking About Exit Plan

The Bank of Japan’s two new board members said it’s too early to talk about any exit from the current monetary stimulus program because inflation is far below target, echoing the view of Governor Haruhiko Kuroda.

Loan default rate for risky retailers jumps above 5%; Fitch Ratings

"The loan universe hasn't seen defaults of this magnitude from retail since the sector's previous high of 5.7% in 2009," said Eric Rosenthal, senior director of leveraged finance. Defaults are being caused by a mixture of factors, including changes in the sector such as changing shopper behavior, as well as unsustainable capital structures, said Fitch.

Something Big, Bad And Ugly Is Taking Place In The U.S. Retirement Market (yogmonster)

This new record high in U.S. Retirement assets is most certainly a good moral booster for Americans. As their retirement assets continue to increase, this provides them a wonderful incentive to fork over more of their hard-earned monthly income to feed the DARK HOLE I label the U.S. Retirement PAC-MAN Monster.

Electric Car Industry Faces A Looming Supply Shortage (Michael K.)

Yet, the many raw material supply chains for larger-scale batteries are immature relative to the potential market pull. Every few weeks the projections for EV sales steepen. Everyone talks about car and battery plants. Amidst the hype few talk about upstream mines and processing facilities. It’s like being bullish on gasoline cars and refineries, but dismissing the importance of scaling up oil to meet the demand.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/24/17

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."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
Rapid ageing could keep ECB's hand tied for next decade: ECB pap

Rapid ageing could keep ECB's hand tied for next decade: ECB paper

Reuters-2 hours ago
... over the next decade, potentially limiting the European Central Bank's ability to adjust policy, a research paper published by the ECB on Wednesday showed.

Australia's central bank chief 'very comfortable' with low policy rates

Reuters-10 hours ago
SYDNEY (Reuters) - Australia's top central banker said on Wednesday he was "very comfortable" with keeping interest rates at record lows as inflation fell short ...

Looming PERS vote on key rate will set pension fund's direction

OregonLive.com-3 hours ago
Lowering it from 7.5 to 7 percent would boost the system's deficit by about 20 percent, or $4.5 billion. In turn, that would require employers to come up with an ...

Kentucky's Credit Rating Downgraded, Citing Pension And Revenue ...

WEKU-12 hours ago
Moody's has downgraded Kentucky's credit rating because of the low ... much of its debt as anticipated, bringing Kentucky's total budget shortfall to $152 million.

Can millennials afford a future in Illinois?

Chicago Tribune-18 hours ago
The state faces an unfunded pension liability of more than $130 billion. It has a bill backlog of approximately $15 billion. And while the Prairie State finally has a ...

 

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 519
Boycott Bill

Broadspectrum's picture
Broadspectrum
Status: Bronze Member (Offline)
Joined: Mar 14 2009
Posts: 88
Clearly a Violation of First Amendment

Hello Banker Slave,

First of all, let me state I really liked the lyrics and melody to your song (if that is you) and nice picking and strumming, who ever is playing.

Secondly, I certainly don't have a mil or even the min to pay the fine so maybe I'll see you in jail.  Just kidding of course. smiley

But seriously, this bill is clearly a violation of the First Admendment.  The SCOTUS has already ruled that boycotts are a form of free speach.  And how would the GOV ever know who is doing this unless a person makes a public statement or announcment or they actually join an ORG.  I think they can get you even if you just explore the issue by going to certain web-sites.  Can any one spell NSA?  

Otherwise, I mean, if I have a garden hose company but I don't sell to IS how would "anyone" know my motivation for that if I don't say or write about it in E-mails (for the record I don't have a hose company)?

As stated by Cynthia McKinney in a video interview posted in another thread, that all members of CONGRESS upon election are to write a paragragh stating, more or less, what was previously stated in a pledge from AIPAC that all members had to sign.  But she didnt't and so that led to each member being required to write their own paragraph that states that the member will vote in favor of any bill or other form of legistration that has IS as the subject.  So they are not obligated to their Merican constituency but instead to a foreign one.  How do you like that?  Sugar with your tea?

You should find it disgusting.  But what can a person do about it.  Plenty!!!

Sincerely,

Broadspectrum

 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1755
Cyber 9/11 for the Cyber Patriot Act

The Corbett Report reports that a pre-written "Patriot Act" for the internet has already exists.  It is just waiting for the correct moment to be introduced to the public--a "New Pearl Harbor" of internet hacking that will require the government to take control of the internet for our protection.

Of course, many of you reading this editorial will already know the reason for the cyberterror frenzy: There is a pre-planned solution waiting in the wings to be revealed to the public after they have been prompted to respond to the next (virtual) false flag provocation. We don't have to speculate on this point. In 2008, Harvard law professor Lawrence Lessig told a technology conference that a cyber equivalent of the Constitution-destroying Patriot Act is on the shelf, ready to be rubber stamped into law. All it requires is a "cyber 9/11" to make such legislation politically viable.

 

 

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