Daily Digest

Image by fotos GOVBA, Flickr Creative Commons

Daily Digest 7/18 - Health Insurers Collecting Personal Details, Detroit Reborn At A Cost

Wednesday, July 18, 2018, 8:54 AM

Economy

In the World’s Most Dangerous Nation, Police Get a $3 Bonus

Maduro’s incentives to the graduating policemen and women come as he grapples with high desertion rates among military troops as hundreds of thousands of Venezuelans seek to flee the country, crowding cities and makeshift camps throughout the region in the largest mass emigration in modern Latin American history.

Health Insurers Are Vacuuming Up Details About You — And It Could Raise Your Rates

The companies are tracking your race, education level, TV habits, marital status, net worth. They're collecting what you post on social media, whether you're behind on your bills, what you order online. Then they feed this information into complicated computer algorithms that spit out predictions about how much your health care could cost them.

In face of strike threat, Metro says finances are 'unsustainable'

Metro says it's looking to find common ground with workers and hoping to keep talking. But it says the current financial structure is "unsustainable." Revenue has been flat, while costs for the last eight years just keep growing at about eight percent a year. Then there is $2.8 billion in unfunded health and pension liability for future retirees.

U.S. warns African nations against Chinese debt, offers 'sustainable' alternative

“Just look at any project in these countries and they’re overbuilding the size,” he said. “We try to have countries realise that they’re indebting themselves to the Chinese.”
Washburne is not the first to warn of growing debt linked to Chinese infrastructure projects.

Federal judge rules in favor of bondholders on Puerto Rico debt

A federal judge on Friday ruled the U.S. government could be liable for parts of Puerto Rico's $73 billion public debt.
Judge Susan Braden of the U.S. Court of Federal Claims ruled against the feds in a motion to dismiss a lawsuit by Puerto Rico's bondholders, who seek to hold the federal government liable for the island's debt.

Scammers target those with outstanding student loans

“Congratulations! You can get your student loans forgiven -- it’s quick and easy!” If you think this sounds too good to be true, it probably is. Student loan debt affects more than 42 million Americans, with outstanding balances of more than $1.4 trillion. The Federal Trade Commission and Better Business Bureau are warning consumers of deceptive scammers.

Interest on credit-card debt tops $100 billion

The average interest rate on a credit card is 15.5 percent, according to the website, and likely will climb more as the Federal Reserve continues to raise rates.
Add it all up, and Magnify Money says consumers will pay more than $110 billion in interest over the next year.

Australian Housing Costs Rival New York’s, but Boom May Be Ending

Still, signs of stress are showing. Mr. North, the analyst from Digital Financial Analytics, estimates that of 3.5 million mortgages where the owner lives in the home, almost a third of the households have incomes close to or less than their expenditures. He predicts that at least 50,000 homeowners may default in the next 12 months.

Reserve Bank focuses on household debt risks (Australia)

In the minutes from the RBA board meeting on July 3, members were told that the global growth in household debt levels had outweighed household income for the past three decades — a trend that was particularly notable in Australia.

5 years after declaring bankruptcy, Detroit reborn at a cost

Before the bankruptcy settlement, she received about $2,300 per month. Estell said she gets about $63 less per month from her pension and now has to pay for her own health care. Prescription co-pays that once were $3 now are $25 for some of the roughly eight medications she takes, and her doctor visits cost more, too.
"I don't go as often as I should. You get sick and you suffer through it," she said.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/17/18

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."

2 Comments

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 320
Hah Hah

Perhaps this belongs in the humour thread.

The soft underbelly of the great American Empire.

https://www.zerohedge.com/news/2018-07-17/russia-liquidates-its-us-treas...

It will be an interesting day when the buyers dry up (other than good 'ol monetisation of course).  Nothing like a little price discovery, IMO.

Trouble with you is
The trouble with me
Got two good eyes
But we still don't see
Come round the bend
You know it's the end
The fireman screams and
The engine just gleams

Casy Jones - Grateful Dead

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4165
Chicago mulls 'universal basic income' testing, 'direct cash tra

Chicago mulls 'universal basic income' testing, 'direct cash transfers to ...

Washington Times-22 hours ago

“Chief Financial Officer Carole Brown said the city's total pension debt now stands at $28 billion, down from $31 billion a year ago, thanks to the state legislation ..

Study: Cost of pensions dangerous

San Mateo Daily Journal-3 hours ago
The county Civil Grand Jury issued Tuesday, July 17, a report detailing the economic danger posed by unfunded pension costs and calling for local city officials ...

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments