Daily Digest

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Daily Digest 1/17 - Unfunded Pension Costs Jump 20%, Financial Markets At Risk From Bubble

Wednesday, January 17, 2018, 1:04 PM


City of Santa Monica's Unfunded Pension Costs Jump 20 Percent

Unfunded pension liabilities for the City of Santa Monica jumped 20 percent in the last fiscal year, rising from $387 million to $461 million, according to a new report.

Carillion's Demise Shines a Light on U.K. Pensions Shortfall

FTSE 350 companies have about 85 billion pounds in total unfunded pension commitments, according to Hymans Robertson. That figure reached a record-high of 165 billion pounds after the Brexit vote, but has since fallen amid an improvement in the shares and bonds that make up the bulk of retirement pots’ investments.

Recent Wave of Looting Shows Extent of Hunger in Venezuela

In Maracaibo — the capital of Zulia — residents looted a supermarket after waiting hours in line to buy corn flour. Violence broke out when they were informed that only members of pro-government community councils could make purchases.

Greece Adopts New Austerity Measures to Placate Creditors

Greek lawmakers on Monday approved new measures demanded by international creditors, including cuts to benefits for large families and restrictions on trade unions, creating the basis for additional bailout funding.

Study shows 31 million people believe they will die in credit card debt

This comes as credit debt in the U.S. is reaching record highs. Last week, the Federal Reserve reported that revolving credit jumped 13 percent in November. Analysts say the rise in credit card use is a sign of growing consumer confidence.

Financial markets at risk from bubble, IMF warns

The World Bank raised similar concerns about overly high share price valuations last week – they have now reached levels not seen since the dotcom bubble in 2000 and the Wall Street Crash in 1929.

U.S. Cut to Same as Level as Colombia by Chinese Ratings Firm

The sovereign rating in both local and foreign currency for the world’s biggest economy was cut to BBB+ with a negative outlook from A- and a stable outlook, Dagong Global Credit Rating Co. said in a report Tuesday. That contrasts with New York-based Moody’s Investors Service’s Aaa and S&P Global Inc’s AA+ for the U.S.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/16/18

Provided daily by the Peak Prosperity Gold & Silver Group

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1 Comment

Uncletommy's picture
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 683
Humanism or original sin?

"Recent wave of looting shows extent of violence in Venezuela"

A bit dated, but if the shoe fits. . . : 


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