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Daily Digest 3/21 - Venezuela 'Losing The Fight,' Which Cities Will Be Hit Hardest By Rate Hike?

Wednesday, March 21, 2018, 10:44 AM

Economy

‘We’re Losing the Fight’: Tuberculosis Batters a Venezuela in Crisis

The illness — like malaria, diphtheria and measles — has surged in Venezuela during a profound economic crisis that has battered almost every aspect of life and driven an exodus of Venezuelans, including many experienced doctors.

Woman's $12,000 bee sting bill shows how high ER costs have climbed

How can a two-hour treatment for a bee sting end up costing a patient $12,000? Prices can soar when the patient goes through a barrage of tests and insurance doesn’t cover the bill, but Sylvia Rosas’ case is shining a light on the cost of health care in the country.

Louisiana state government, economy rank poorly in plethora of recent reports

TIA calculated that Louisiana has $13.7 billion in assets and owes $37.3 billion in bills. If Louisiana taxpayers were to cover its $23.7 billion shortfall, they would each owe $18,300.

CalPERS won't pull its money out of gun sellers. Here's what it's doing instead.

If ‘thoughts and prayers’ could be converted into currency, our pension fund’s $139 billion unfunded liability would have been zeroed out, long ago," he said.

CalPERS estimates that it missed about $8 billion in earnings because of its divestment decisions that pulled money out of tobacco, coal, companies that manufacture guns that are illegal in California and South Africa during the apartheid era.

Legislation requiring retired state lawmakers cover half of their health benefits advances to Senate floor (Illinois)

Illinois taxpayers are on the hook for $130 billion of unfunded pension liability with the worst funded public sector pensions of any state. Then there’s the fully taxpayer subsidized health care state government retirees get on top of that. Both promised benefits have been enshrined in the state constitution by the Illinois Supreme Court.

Which cities will be hit hardest by coming Fed rate hike?

One of the least sustainable cities is Miami Beach, Fla., where 55% of the population has credit card debt, with an average of $11,685 per household. The cost of previous rate hikes added $175 to the average credit card debt in this city.

China's `Epic' Debt Load Means Big Task for New Governor: Chart

In the last nine years, Chinese borrowers have taken on debt equal to around 100 percent of gross domestic product. That’s quite a challenge for Yi Gang, who succeeds Zhou Xiaochuan as central bank governor, says Tom Orlik, chief economist for Bloomberg Economics. It’s difficult to find examples of major economies that have borrowed so much in such a short period of time -- many that have taken on less debt faced a financial crisis and an economic hard landing.

Trump set to slap China with $60 billion in annual tariffs: report

The levies would apply to more than 100 products that were developed by stolen American intellectual property, the Post said. China is the biggest trade partner of the U.S., and the tariffs may spark retaliatory measures by the Chinese government.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/20/18

Provided daily by the Peak Prosperity Gold & Silver Group

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1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
It didn't take long for the US to rack up another trillion dolla

It didn't take long for the US to rack up another trillion dollars of debt

MarketWatch-21 hours ago
It has taken a little more than six months for the U.S. national debt to grow by a trillion dollars, a quick clip that has little precedent over the nation's recent history. Last week, the debt hit $21 trillion for the first time, rising from the $20 trillion mark it notched on Sept. 8. The debt is guaranteed to go higher, with President Donald ...

People with massive student debt hope President Trump will let ...

USA TODAY-21 hours ago
Then she fell ill and had multiple operations. Along the way, a psychiatrist diagnosed her with depression, bipolar and post-traumatic stress disorder. She often missed work and didn't have enough money to send in her student loan payments. Today her debt, with interest, penalties and fees, is more than $230,000. "I can't ...

China Inc. Feels Heat From $668 Billion Puttable Bond Cooker

Bloomberg-14 hours ago
With borrowing costs ticking higher amid Beijing's squeeze on debt, one company has already defaulted this month after investors requested they be paid back ... premium for puttable bonds, according to China Chengxin International Credit Rating Co., which expects the yield gap to further widen as defaults accelerate.

 

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