Daily Digest

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Daily Digest 2/28 - ACA Premiums To Rise 18%, The Looming Pension Fund Crisis

Wednesday, February 28, 2018, 11:23 AM

Economy

In Pictures: Thousands of Venezuelans Join Mass Exodus into Colombia

Some 3 million Venezuelans—a tenth of the population—have left Venezuela since late leader Hugo Chavez started his socialist revolution in 1999. More than 500,000 have fled to Colombia—many illegally—hoping to escape grinding poverty, rising violence and shortages of food and medicine in the once-prosperous nation.

Study: Obamacare premiums to rise 18 percent, millions to lose health coverage from GOP changes

The Urban Institute released a new report on Monday that the combination of repealing Obamacare’s individual mandate and expanding access to cheaper health insurance policies known as short-term plans will lead to the premium increase.

How California Public Pensions Fell Into Crisis

Nevertheless, CalPERS is nearing the point of no return as it attempts a series of last ditch efforts to avoid complete meltdown. The system, once funded more than 100 percent, now has only approximately two-thirds of what it needs to fully cover all its pension obligations to current and future retirees. This of course assumes that they are able to hit a very optimistic rate of return of 7 percent year over year. Critics have questioned the likelihood of this feat.

The looming pension-fund crisis

The pension funds of state and local governments and corporations are facing a total shortfall of up to $6 trillion.

Some 200 multi-employer pension plan companies face bankruptcy. And unless this fiscal shortfall is remedied, as many as 1.5 million retirees could lose their pensions.

As local Chinese governments come clean on debt, companies teeter

Companies controlled by Chinese local governments have avoided defaulting on their bonds so far. They will not continue to be so lucky.

How Chicago Ticket Debt Sends Black Motorists Into Bankruptcy

Once debt accumulates, it can last forever because there’s no statute of limitations for unpaid tickets in Illinois. Chicago motorists owe $1.45 billion in ticket debt dating to September 1990.

Financial doomsayer says Australian property prices could crash by 50 per cent in coming global crisis

“I’m talking about a second global crisis because we never solved the problems of the first one,” he said. “We have $57 trillion more debt, real estate and stocks are more overvalued.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/27/18

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."

4 Comments

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 328
Party on Garth

"Habeas Coitus" (gotta love the New York Daily News front pages).

http://www.nydailynews.com/new-york/new-york-daily-news-front-pages-2018...

read more here if interested: https://www.pressreader.com/usa/new-york-daily-news/20180227/28149645677...

The New York Post (Alexander Hamilton's favorite newspaper, BTW) is equally entertaining at times, IMO.

 

 

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 328
Bored?

Getting bored waiting for your favorite market indicator or latest purchase to go vertical or crash and burn?  Watch this for a couple minutes.  Depending when you tune-in, you may have to watch for a couple minutes before you see our wonderful home swing by.  No visitors in the passenger seat yet and no scratches on the paint so far.

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1464
Healthcare

What is going on with the Biz Associations buy healthcare policies across state lines?  And total "buy across state lines" effort?   

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 328
Fines for Being "Stoopid"

Perhaps this could be more broadly applied to the plethora of other human actions that make you wonder how some people make it through the day unscathed.  After a few hundred dollars in fines, perhaps one should be a candidate (or at least get a nomination by a concerned family member) for the (as you know, posthumous) Darwin Award, and do a small part to try to save the species as we know it.  Apparently, you can't fix stupid but nothing says you can't try to make a little money off of it.

http://losangeles.cbslocal.com/2018/02/27/distracted-walking-ban/

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