Daily Digest

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Daily Digest 5/15 - Boomer Retirement Crunch Begins, The End Of Bitcoin?

Wednesday, May 15, 2013, 9:48 AM

Economy

Small euro coins may be dropped—EU

Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday.

European Leaders Grapple With Youth Unemployment

Record youth unemployment is emerging as the most urgent problem in the euro zone, if the political rhetoric of recent days is any measure. But leaders are struggling to come up with effective ways to prevent jobless young people in countries like Spain and Greece from becoming a lost generation and source of social upheaval.

Bad debts at Italian banks surpass 130 bln euros

Bad debts held by Italian banks rose to 131 billion euros ($170 billion) in March and lenders further reduced loans to households and businesses, data showed on Tuesday.

British families are the deepest in debt

Data compiled by the House of Commons Library show that British households' debts are equal to 98 per cent of gross domestic product (GDP), more than any of their international peers. The Government's stock of outstanding debt is also more than 90 per cent of GDP, a threshold some economists consider harmful to economic growth.

Japan Bonds Slide 3rd Day

Ten-year yields extended the biggest two-day surge in nearly a decade, while futures on the securities sank to a one-year low. Volatility in JGBs has soared since the Bank of Japan said on April 4 it would double bond purchases in an effort to end deflation.

Cal State students face yet another fee – for graduation

In the last 10 years, student fees have increased 167%. The Cal State system has faced nearly $1 billion in state funding cuts since 2008. Classes have been reduced and enrollment has been frozen across the system.

The boomer retirement crunch begins

The oldest baby boomers have already turned 65, and the older population of the U.S. is beginning to swell. The age-65-and-older population grew 18% between 2000 and 2011 to 41.4 million senior citizens, according to a recent Administration on Aging report.

Banks Rush to Ease Supply of Money

Central banks in Australia, South Korea, Poland, India and Hungary have pushed their benchmark borrowing rates lower in the past few weeks.

Major central banks also have been moving to spur their economies. The Federal Reserve decided in early May to continue an $85 billion per month bond-buying program aimed at pushing down long-term interest rates.

Florida quietly shortened yellow light standards & lengths, resulting in more red light camera tickets for you

A subtle, but significant tweak to Florida's rules regarding traffic signals has allowed local cities and counties to shorten yellow light intervals, resulting in millions of dollars in additional red light camera fines.

Strategist predicts end of Bitcoin

Investors have turned to bitcoins for two reasons. During the banking crisis in Cyprus in March, bank depositors were nearly forced to take sharp haircuts and struggled to gain access to their accounts. The banking drama in Cyprus sparked fears of bank runs around the world and made investors think a virtual currency might be safer.

Gold & Silver

Click to read the Gold & Silver Digest: 5/14/13

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3159
This is a video

This is a video presentation by Dr. Jeffrey Sachs.  It's interesting that an academic who is a member in good standing of mainstream economic establishment expresses such strident views that take him out of the mainstream and into the radical but non-political community.  His views are certainly in agreement with those expressed here and in the other non-traditional blogosphere.  Can the mainstream ignore him?

Quote:

"We have a system which is out of control, that's politically out of control, regulatorily out of control, out of legal bounds, out of responsibility, and we've invented a system where you get to take home billions of dollars in personal compensation, your shareholders pay hundreds of millions of dollars in fines, you shelter your money in the Cayman islands in agreement with the IRS and nobody seems to control it at all." - Dr. Jeffrey Sachs

http://www.youtube.com/watch?feature=player_embedded&v=hCCr-uiqtAY

The video is a must see.

Doug

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5416
bitcoin price (loosely) tracks google trends

Its not perfect, but - I just provide as a matter of curiosity.  Past 2 years.

http://www.google.co.th/trends/explore?hl=en-US#q=bitcoin%20price&date=1%2F2011%2029m&cmpt=q

http://bitcoincharts.com/charts/mtgoxUSD#rg1460ztgWzm1g10zm2g25

 

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