Daily Digest

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Daily Digest 6/27 - PA Mayor Declares Fiscal Crisis, Sky-High Deductibles Broke U.S. Health System

Wednesday, June 27, 2018, 10:20 AM

Economy

$47,000 air ambulance bill for their child shocks family; the insurance company said it would pay $5,000

"I don't want to bankrupt my family," said Brunner, 35, an associate pastor at a small Baptist church. "This company was our only option because of the emergency. ... We had insurance, did everything we were supposed to do, and still are left with a $42,000 bill."

Sky-High Deductibles Broke the U.S. Health Insurance System

When Carla Jordan and her husband were hit with a cascade of serious medical issues, she knew that at least her family had health insurance through her job. What she didn’t realize was that even with that coverage, a constant stream of medical bills would soon push the family to the edge of financial collapse.

Grand Jury Finds Santa Barbara-Area Pension Systems at Risk of Being Unsustainable

That study found that city pension costs throughout California will dramatically rise to unsustainable levels, and rising costs will require cities to nearly double the percentage of contributions to the California Public Employee Retirement System (CalPERS).

How China got Sri Lanka to cough up a port

Mr Rajapaksa was voted out of office in 2015, but Sri Lanka's new government struggled to make payments on the debt he had taken on. Under heavy pressure and after months of negotiations with the Chinese, the government handed over the port and 15,000 acres of land around it for 99 years in December.

Bear Market in Stocks, Weak Yuan Show China Problems Piling Up

Shanghai benchmark has fallen more than 20% from recent high, Yuan weakens to six-month low, adding to investor jitters

Global debt binge setting us up for a pounding economic headache

In its recently issued annual report, the BIS highlights that since the 2008 world economic and financial market crisis, the global debt stock has increased by more than $60 trillion to its present level of around $170 trillion.
The BIS also notes that in relation to GDP, overall global debt levels today are some 40 percentage points higher than they were on the eve of the 2008 Lehman bankruptcy.

Harrisburg mayor declares fiscal crisis

"You can't expect to fill a $20-million gap with five years of growth. It's a project that is going to take a generation. It's going to take 20 years perhaps to live without that elevated authority," said Papenfuse.

Budget Cuts Kill New Sacramento Summer School Program In First Year

The board is going into a new fiscal year with a $24 million deficit. The reason for the cuts, school leaders say is a result of rising health care costs and a state-mandated increase in pension contributions.

Montana Delegation Asks US Government to Forgive County Debt (Thomas R.)

The U.S. Coast Guard’s National Pollution Funds Center billed Powell County for that amount in 2014. County officials responded then that the county is dedicated to improving the site, appreciated the help but can’t afford the bill.

Farmers in America are killing themselves in staggering numbers (Adam)

"We're hearing from farmers on our hotline that farmer stress is extremely high," Fahy said. "Every time there's more uncertainty around issues around the farm economy is another day of phones ringing off the hook."

More Global Warming Propaganda in a WSJ Opinion Article (Randy P.)

The authors also cherry pick data by focusing on the UAH Global Average Tropospheric Temperatures report to make their case. The problem with using this data source is that there are six major sources of global temperature data which are most often referred to, and of the six, only the UAH satellite data suggests that the increase in global temperature has been only "modest".

Barents Sea seems to have crossed a climate tipping point (Randy P.)

The researchers behind the new work say that this layered structure was "remarkably stable" from 1970 all the way through 2011. But change started coming to the area even as the layers persisted. The atmosphere over the Arctic has warmed faster than any other region on the planet. In part because of that, the amount of ice covering the Arctic Ocean began to decline dramatically. It reached what were then record lows in 2007 and 2008. As a result, the Barents Sea was relatively ice-free in the Arctic summer, decreasing the fresh water present in the surface layer.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/26/18

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
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Joined: Jul 30 2009
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Minimum wage in Venezuela now 3 million Bolivars per month

 

Inflation-hobbled Venezuela triples minimum wage to $1.14/month

CARACAS, June 20 (Reuters) - Venezuela on Wednesday tripled its minimum wage to 3 million bolivars per month, equivalent to just $1.14 at the black market exchange rate, as the crisis-ridden OPEC nation struggles under hyperinflation.

President Nicolas Maduro in a televised broadcast said workers would also receive 2.2 million bolivars in meal tickets, taking total compensation to 5.2 million bolivars — around $1.98 at the black market.

Venezuela Army Sent to Enforce Food Prices as Currency Crashes

Newsweek-Jun 21, 2018
As inflation in Venezuela soars out of control, embattled President Nicolas Maduro has deployed the army to markets to enforce government-set food prices.

Venezuelan security forces killing hundreds, UN says, with rule of law ...

ABC News-Jun 22, 2018
Government security forces in Venezuela are carrying out unjustified killings ... food and medicine shortages and soaring inflation that has driven thousands to ...

Silver Spot Price - Venezuelan Bolívar (VEF)

VEF1,538,393.00

Performances
  5 days 1 month YTD 1 year 5 years 10 years Max
Silver Price per Ounce (VEF) -0.73% -1.03% N/A 770,190.87% 1,118,636.93% N/A 3,599,475.41%

1926 Venezuela 2 Bolivar Silver Coin Y# 43

shopping?q=tbn:ANd9GcRUZV_oEOS3B-2rXBa843XmIQwngkdwcKIvcxRW8sD_CfGSFWX8wpuZVyPt_7bfnTwiRIRVEQk&usqp=CAE
from Bonanza - oldmanstore's booth

Venezuela 2 Bolivar 1926Silver coin Y#43 Item Description Specifications:Composition: SilverFineness: 1.75Weight: 10gAWS: 0.2684585336054302Melt Value: $3.00Diameter: . ...

$15.00 used
+$2.75 shipping. No tax

 

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