Daily Digest

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Daily Digest 1/3 - New OR Laws That Raise Taxes and Fees, The Year Of The Oil Bulls

Wednesday, January 3, 2018, 12:30 PM

Economy

Drive, Walk or Take Transit? These New California Laws Are for You

New fuel taxes and vehicle fees (SB 1): Higher fuel taxes included in the law, which aims to raise $52 billion over the next decade for road and bridge repair as well as highway and transit improvements, kicked in Nov. 1. A new “transportation improvement fee” of $25 to $175 — based on the value of a car or truck — will be added to vehicle registration fees as of Jan. 1, 2018. A new $100 fee for zero-emission vehicles will take effect in 2020.

2018 rings in new Oregon laws that raise taxes, fees

The state's gas tax jumped to 34 cents a gallon, an increase of 4 cents. The state's vehicle registration increased by $13 per year. A typical car owner will see the two-year registration fee jump to $112, from $86.

Retired Texas teachers face rising health care costs

Health care costs soared Monday for many retired educators on the state-subsidized insurance plan, with families now facing $1,000 monthly premiums and out-of-pocket costs rising across-the-board.

Michigan residents age 60 and older now almost quarter of state's population

To show the shift over time: In late 1950s, just as Michigan birth rate was hitting its peak, about 8% of Michigan residents were 65 or older. It's now twice that as the Baby Boomers hit retirement age, and the percentage is continuing to inch up every year. The U.S. Census Bureau estimates that 27% of Americans will be age 65 or older by 2050.

Tough choices faced by NYS lawmakers as they start new session

The New York City subway system, beset by breakdowns and delays, needs a massive investment. The upcoming corruption trial of a former top Cuomo adviser threatens to dim the Democrat's presidential chances. The state faces a $4 billion deficit, while ongoing conflicts with Republicans in Washington mean the state could lose even more health care funding. Then this fall, Cuomo and the entire Legislature face re-election.

Facebook will infiltrate elections and rule the world in 10 years (Matt H.)

Facebook is on track to become more powerful than the National Security Agency – so says a senior advisor to the US military intelligence community who predicted the rise of artificial intelligence and robot warfare. In less than a decade, Facebook’s growth will mean it potentially has the ability to monitor almost everyone on the planet. This will make the firm more powerful than any other government contractor in the world.

3 Threats to Amazon You Must Own Today (Tiffany D.)

But the point is, in a wide swath of industries — not just aerospace, but pharmaceuticals, chip manufacturing, packaging, chemicals, consumer goods, media, telecommunications and more — the game of M&A “musical chairs” is already underway.

2018: The Year Of The Oil Bulls (Michael K.)

The record-high long bets on both Brent and WTI, however, are a mixed blessing. On one hand, they are a clear indicator of overwhelming optimism, which could push prices even higher. However, the higher they go, the sharper they can fall, should speculators decide it’s time to take profit. Of course, there is no certainty this is going to happen, because, as DNB Bank’s chief oil analyst Torbjorn Kjus told Bloomberg, “We don’t know the type of players. If they want to have a larger part of their assets in commodities for the next couple of years, then they’re not going to sell those positions.”

Gold & Silver

Click to read the PM Daily Market Commentary: 1/2/18

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."

1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4192
Global debt is the danger: beware the butterfly moment

Global debt is the danger: beware the butterfly moment

Financial Times-10 hours ago
After the 2008-09 financial crisis, the hope was that a combination of economic recovery, inflation and austerity would shrink the debt mountain. ... from responsible to reckless: the siphoning of money into dodgy ventures such as subprime mortgages, covenant-light loans or sovereign lending based on creative accounting.

Baltimore judge rules city violated contracts by cutting police and fire ...

Baltimore Sun-12 hours ago
Rawlings-Blake overhauled the city's police and fire pension system to prevent an imminent fiscal crisis, she said. The city's pension fund for firefighters and police officers is funded at about 70 percent of the long-term costs of providing benefits. Its unfunded long-term liability is more than $1 billion. City officials say the ...

Pension costs are threatening public services all over California ...

Sacramento Bee-13 hours ago
California is great at making pension promises, but a dismal failure at properly funding them. The most recent annual report released by the California Public Employees' Retirement System shows that, as of June 2016, CalPERS was more than $138 billion in debt. The teachers' retirement system (CalSTRS) is nearly as ...

 

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