Daily Digest

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Daily Digest 8/16 - Hunger Crisis Hits Venezuela, What Happens If You Don't Pay Your Student Loans

Wednesday, August 16, 2017, 7:09 AM

Economy

Hunger crisis hits Venezuela (Video)

Shortages are becoming ever more severe in Venezuela. According to the World Health Organization, hospitals lack 95 percent of necessary medicines. Many people are undernourished and they receive no help from the government.

CalPERS $100K Pension Club up 63% Since 2012, Watchdog Says

Transparent California’s report notes that the California Public Employee Retirement System (CalPERS) paid out more than $20 billion to 646,843 pensioners. Of those retirees, 22,826 earned pensions more than $100,000 in 2016. The average pension for a full-career former CalPERS employee in 2016 was $66,400.

Hartford, With Its Finances in Disarray, Veers Toward Bankruptcy

The problems in Hartford are similar to cities across the United States that have sought relief through bankruptcy: its tax base and population have shrunk and its pension obligations and debts have piled up.

Milliman: Corporate Pension Funded Status Rises $4 Billion in July

As of July 31, the funded ratio nudged 0.2% higher to 83.7%, from 83.5% at the end of June, and the funded ratio has been vacillating between 83% and 84% over the first seven months of 2017.

Bipartisan group of House members drafting proposal to avert shutdown, default

Treasury Secretary Steven Mnuchin has warned congressional leaders that the government will run out of money to pay its bills by Sept. 29 unless lawmakers vote to raise the debt limit. Funding to keep the government open is set to expire two days later, on Oct. 1, unless Congress can agree on a spending deal during the approximately three weeks it will be in session in September.

Here’s what happens if you don’t pay your student loans

If you miss a payment on your federal student loans you have 270 days to make a payment before your debt goes into default. Once federal student debt is in default, the government is able to garnish your wage, your Social Security check, your federal tax refund and even your disability benefits.

Americans have once again taken on record debt loads

For most Americans, whose median household income, adjusted for inflation, is lower than it was at its peak in 1999, borrowing has been the answer to maintaining their standard of living. The increase in debt helps explain why the economy's main source of fuel is providing less of a boost than in the past. Personal spending growth has averaged 2.4 percent since the recession ended in 2009, less than the 3 percent of the previous expansion and 4.3 percent from 1982-90.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/15/17

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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4066
ECB weakens Italy doom loop by bending bond rules

China's debt boom could lead to financial crisis, IMF warns

Telegraph.co.uk-22 hours ago
China's economy is reliant on too much debt and the enormous boom in credit ... But in the years ahead, risks will grow as China's extraordinary debt bubble ...

BOJ could overtake ECB as world's largest central bank

Nikkei Asian Review-2 hours ago
TOKYO -- The Bank of Japan's balance sheet keeps swelling, with the central bank doggedly continuing to purchase large amounts of Japanese government ...

Sovereign debt has a pretty poor record

Financial Times-15 hours ago
In fact, the history of sovereign debt is pretty poor. Carmen Reinhart and Kenneth Rogoff, in This Time is Different, count over the past two centuries 250 defaults ...

One major way US credit card debt is getting worse

MarketWatch-20 hours ago
Total household debt now amounts to $12.84 trillion in the second quarter of 2017, up 0.9% since the first quarter. Mortgage debt increased 0.7% and auto debt ...

Brazil softens budget deficit goals through 2020

Reuters-13 hours ago

Brazil's government set a new primary deficit target for this year and next of 159 billion reais ($49.7 billion), up from 139 billion reais this year and 129 billion ..

ECB weakens Italy doom loop by bending bond rules

Nasdaq-5 hours ago
Europe's economic recovery increases the chances that Draghi will next year cut asset purchases from 60 billion euros a month. Italy's net debt sales would ...

How CPS new CPS budget will affect local schools

Hyde Park Herald-2 hours ago
Funds from the state would also go toward current and past due pension .... CPS projects that the deficit for the school to be at nearly $40,000 for this year.

 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1428
Re: BOJ could overtake ECB as world's largest central bank

Crazy!   Can't Japan figure out since 1990 that its ZIRP and NIRP don't work?

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 367
Re: One major way US credit card debt is getting worse

Thanks saxplayer!

Regarding US consumer debt making a new high. Will the bubble burst happen again like 2007-2008. When Cracks started to appear in late 2007 and a full bubble pop began in Aug 2008. Who will be the next Bear Sterns and who will be the next Lehman?  

That said, I doubt the dip will be as deep. I am sure that the Fed with unleash the QE Printing presses to avoid a severe dip. Maybe Trump will pick Japan's BoJ Chairmen: Kuroda as the next Fed Chairman.

 

 

Jim H's picture
Jim H
Status: Diamond Member (Offline)
Joined: Jun 8 2009
Posts: 2379
BOJ...

Kugs... the Yen is the worst dirty shirt..  Japan's monetary system is, math-wise, a dead man walking.. there is no choice but to keep interest rates near zero, create more money through QE (since the organic demand for debt is not there) and buy shit with the money.. preferably things that help the broader system of interlocking asset value ponzi schemes....

I firmly believe that the best way to view.. and to understand the fiat money system is to view the Western-influenced central banks as one organism.  They will live or die together.  The Swiss national bank has to play ball to if it wants to survive, small fry that it is...their primary job is to help make the Euro seem like it has value.

The Yen should be worthless by now.. but it isn't.  Once one goes.. they all go.  Venezuela is just not in the club : )  

 

member221's picture
member221
Status: Member (Offline)
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Posts: 2
I have been suffering from

I have been suffering from amyotrophic laterals sclerosis (ALS) disease for the last three years and had constant pain, especially in my knees. my first sign that something was wrong, was my slurred speech. And then the inability to eat without getting choked, strangled, and coughing.Throughout my three years ordeal, i was able to walk with assistance nothing was really working to help my condition.I went off the riluzole (with the doctor’s knowledge) and started  on amyotrophic lateral sclerosis herbal formula i ordered from Health Herbal Clinic, Just 7 weeks into the Herbal formula treatment I had great improvements with my slurred speech, there is no case of constant pain and chest tightness since treatment, visit Health Herbal Clinic official website www. healthherbalclinic.  net or email [email protected] healthherbalclinic. net. This treatment is incredible!

Afridev's picture
Afridev
Status: Silver Member (Online)
Joined: Oct 11 2013
Posts: 128
Question on usawatchdog

usawatchdog.com seems to have been knocked off the air. Do others have the same issue? Did I miss something?

Yoxa's picture
Yoxa
Status: Gold Member (Online)
Joined: Dec 21 2011
Posts: 262
It comes up for me
Quote:

 usawatchdog.com seems to have been knocked off the air. Do others have the same issue?

Temporary problems could be caused by a variety of issues.It's coming up okay for me in the Canadian prairies, approximately 2 AM CDT.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4066
Thieves stealing Venezuela zoo animals to eat them, say police

European Central Bank still concerned about low inflation

ABC News-2 hours ago
FILE - In this Sept. 7,2016 file photo the headquarters of the European Central Bank is seen through flowers in Frankfurt, Germany. Germany's top court has ...

Debt auction sees yields heading deeper into negative territory

The Portugal News-6 hours ago
Debt auction sees yields heading deeper into negative territory ... Portugal auctioned €1 billion in three- and 11-month treasury bills on Wednesday at average ...

Fed members say they are not worried about stock market surge

CNBC-20 hours ago
Central bank officials addressed surging equity prices, which some prominent investors fear is approaching bubble territory. "A couple of participants noted that ...

IMF raises red flag over China's mounting debt

TODAYonline-18 hours ago
In the aftermath of the global financial crisis, the Chinese authorities unleashed a lending spree that more than quadrupled total debt to US$28 trillion (S$38 ...

Car loan timebomb fuels fears of new financial crisis as motors worth ...

The Sun-7 hours ago

This indicates customers are taking on higher debt. A Bank of England source warned: “As amounts of consumer credit increase, so do the risks, making the ..

IL schools remain in limbo due to lack of school funding

KFVS-1 hour ago
HERRIN, IL (KFVS) -. Most students in Illinois are back in class, but how long those schools will stay open remains in limbo. Districts have already missed one ...

Thieves stealing Venezuela zoo animals to eat them, say police

The Guardian-13 hours ago
Venezuela authorities are investigating the theft of animals from a zoo in western state of Zulia that were likely snatched to be eaten, a further sign of hunger in a ...

 

Afridev's picture
Afridev
Status: Silver Member (Online)
Joined: Oct 11 2013
Posts: 128
Yoxa, thanks for verifying

It still seems to be offline for me. Not sure if it's linked to me being in Sweden...

 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1428
Re:Thieves stealing Venezuela zoo animals to eat them

When does the cannibalism start? 

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