Daily Digest

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Daily Digest 2/20 - The Crumbling Chinese Market, Americans Buying Insulin In Mexico

Wednesday, February 20, 2019, 10:58 AM

Economy

Americans' 'right to shop' takes them into Mexico to buy insulin at 1/3 the cost

The list price of the modern generation of insulin has skyrocketed since his diagnosis. On one trip to the pharmacy last year, Fenner was told that a three-month supply of insulin would cost her $3,700.

That same supply would cost only about $600 in Mexico.

Second Illinois policy group pushes to tax retirement, AARP pushes back

“Illinois has the highest property taxes in the nation, the sales tax in many communities is nearing 10 percent,” said Ryan Gruenenfelder, director of advocacy and outreach for AARP Illinois. “We have notified our members and many of them are responding, saying ‘if this happens, I am going to leave the state of Illinois.”

Governor creates task force to study pension issues (New Mexico)

The Public Employees Retirement Association, which covers roughly 50,000 active workers and 40,000 retirees, had an unfunded liability of $6 billion as of the end of the 2018 budget year. That figure represents the difference between assets and future benefits owed.

Italy starts talks with EU over bank bad loan scheme renewal: source

Rising risk premiums on Italian assets have made the “GACS” scheme more costly, but renewal remains important for the country’s banks which still hold 100 billion euros ($113 billion) in bad debts, a legacy of the financial crisis of 2007-2009 which had a major negative impact on Italy’s economy.

Federal student loan payments could soon be automatically taken from your paycheck

If you have federal student debt, a new proposal headed through the Senate could mean 10 percent of your discretionary income is automatically withdrawn every month............Right now, nearly 40 million Americans owe a collective $1.5 trillion. And, experts say that number is expected to grow to $2 trillion by 2022 if we continue down the same path.

The Risk of Fallen Angels in Asia’s Bond Market Is Rising

As worsening global macro-economic conditions put firms under pressure, concerns over so-called fallen angels, or investment-grade companies that are cut to junk, are mounting in Asia and globally. Man Group Plc, the world’s largest publicly traded hedge fund manager, warned investors in December of the “astonishing bubble” in BBB level debt.

The Crumbling Chinese Market (thc0655)

China has not shown much capacity for developing high technology on its own, but it has been quite effective at stealing such technology from trading partners and applying it through its own system of state-owned enterprises and “national champions” such as Huawei in the telecommunications sector.

Scientist says some pollution is good for you — a disputed claim Trump’s EPA has embraced (tmn)

Denouncing the Obama-era EPA as an agency beholden to environmental extremists, the administration has not only dismissed mainstream science but embraced widely discredited alternatives that critics say are not consistent with the agency’s focus on improving public and environmental health.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/19/19

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

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 2115
Differing perspectives

I ran into a quote that has sparked some thinking:

Before you argue with someone, ask yourself first whether that person is even menatlly mature enough to grasp the concept of different perspectives....because if not, there's absolutely no point.

This is probably up the same line of consideration as Aristotle's famous:

"It is the mark of an educated mind to be able to entertain a thought without accepting it." 

Like the blind people being willing to learn about all the different parts of an elephant.

This is especially important when the topic is multifaceted and complex.  It can't accurately be understood with a facebook one-liner.

But tribal identification drives us to latch onto our ONE perspective ("the truth") and FIGHT to have our perspective WIN.

Like the crowds at a hotly contested football game, we rise to our feet and bellow "We're Number One!" drowning out the other team, and hoping that our yelling helps to make our team actually be number one.

---------------

What I really appreciate here at PP is that there are many who are able and willing to see the various sides of a complex issue--willing to look at things that they do not currently embrace as "the truth."  And to articulate it.   Lots of cognitive flexibility.  Much appreciated.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4295
Global sovereign debt to jump to $50 trillion - S&P Global

Global sovereign debt to jump to $50 trillion - S&P Global

Another jump in borrowing by governments will take the global mountain of sovereign debt to $50 trillion (£38 trillion) this year, ratings agency S&P Global forecast on Thursday.

Consumer debt hits $4 trillion

In addition, a steady rise in student loan balances, as well as an increase in the cost of automobile financing in the fourth quarter, contributed another $80 billion.

ECB Profit Rose in 2018 as Bond Buying Bolstered Interest Income

A $3 trillion tsunami is about to flood the stock market, warns fund manager

Invoking the Great Depression, Gov. J.B. Pritzker delivers first budget proposal amid $3.2 billion deficit (Illinois)

Connecticut governor seeks to “modernize” taxes, grow state

 

More Americans are taking longer to pay off their credit-card debt

U.S. Health Care Costs Skyrocketed to $3.65 Trillion in 2018

 

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