Daily Digest

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Daily Digest 3/26 - Venezuela Downgraded To 'B', Bank Of Cyprus Starts Restructuring Plans

Wednesday, March 26, 2014, 11:04 AM

Economy

ECB's Weidmann says quantitative easing not out of the question

The European Central Bank could buy loans and other assets from banks to help support the euro zone economy, Germany's Bundesbank has said, marking a radical softening of its stance on the contested policy.

Doctors Say They Can't Care for Injured in Venezuela

But healing those hurt in the clashes — or anyone sick, for that matter — is becoming more challenging every day as emergency rooms run out of gloves, bandages and antibiotics and many other basics.Venezuelan Medical Federation president Douglas Leon Natera says patients are urged to show up at hospitals with their own disinfectant, gauze and pain killers.

"Doctors are working with our bare hands, without resources,” he says.

Cincinnati Attorney To Sue Over Traffic Cameras In Dayton

Those issued a ticket must pay the $85 fine first before getting a hearing to protest the ticket. That, Allen said, is unconstitutional, along with the process motorist have to contest the fines. A Butler County judge last month ordered New Miami to stop using its speed cameras, saying the devices violate motorists' right to due process. A Hamilton County Judge also came to the same conclusion in the Village of Elmwood Place.

Americans Can’t Retire When Bill Gross Sees Repression

About 75 million baby boomers, born from 1946 to 1964, are starting to retire and face meager returns as a byproduct of the Fed’s decision to hold its benchmark rate near zero since December 2008. Policy makers also have quadrupled the central bank’s balance sheet to a record $4.22 trillion to drive down borrowing costs.

Pricier beef 'here to stay' as food costs seen higher: USDA

The food price inflation outlook assumes normal weather, the USDA said, adding that the California drought poses a risk of bigger increases in many food categories, and that high supermarket prices for beef are "here to stay."

Payday loans trap 80 percent of borrowers in ongoing cycle of debt

A report by a federal watchdog has found that about half of all payday loans are made to people who extend the loans so many times they end up paying more in fees than the original amount they borrowed.

The report released Tuesday by the Consumer Financial Protection Bureau also shows that four of five payday loans are extended, or "rolled over," within 14 days. Additional fees are charged when loans are rolled over.

Debt Is Piling Up Faster for Most Graduate Students—but Not MBAs

Median debt loads for graduate school borrowers increased to $57,600 in 2012, from an inflation-adjusted $40,209 in 2004, the study said. Over the same period, the debt load for the typical MBA borrower increased just $627, to $42,000. In contrast, the median debt load for a master of arts graduate rose to $58,539, from $37,965, according to the survey, while the debt load for the typical law student rose to $140,616, up from $88,634.

China’s Gold Imports From Hong Kong Increase on Import Quotas

Net imports totaled 109.2 metric tons last month, compared with 83.6 tons in January and 60.9 tons a year earlier, according to calculations by Bloomberg News based on data from the Hong Kong Census and Statistics Department today.

Bank of Cyprus kicks off review of restructuring plans

Bailed-out Bank of Cyprus BOC.CY is reviewing its restructuring plans in a move that could result in billions of euros of its troubled assets being put into a "bad bank", chief executive John Hourican said.

Spain proposes 2.3 billion euro rescue of failed motorways

Spain has proposed creditor banks take a 50 percent haircut on debt owed by nine failed motorways and will pay the balance via a 30-year bond of around 2.3 billion euros ($3.17 billion) with a coupon of at least 1 percent, sources with knowledge of the matter told Reuters on Tuesday.

Fitch Downgrades Venezuela to 'B'; Outlook Negative

The deterioration in macroeconomic stability reflected FX rationing, increasing shortages, increased state intervention and rapid growth in financing by the BCV to the non-financial public sector. Divisions within the government of President Nicolas Maduro and weak political capital have delayed necessary policy adjustments to address rising macroeconomic imbalances.

Ukraine in talks with IMF for $15-20 billion loan package - finance minister

Referring to talks now going on with the IMF, he said: "We are successfully heading towards concluding a programme. I think we shall receive (what we seek). This sum is from 15 to 20 billion dollars."

Gold & Silver

Click to read the PM Daily Market Commentary: 3/25/14

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)
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HughK's picture
HughK
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Posts: 761
Egypt's mass death sentencing of 529 people stirs global outrage

This is a sad story, but hopefully Egypt's Grand Mufti will stop the executions or the military regime will come to its senses and not kill 529 people sentenced at one time in a two day trial.

Egypt's Courts: Further repression with Journos on Trial & Mass Death Sentence for Morsi Supporters (Democracy Now video and transcript)

Egypt's mass death sentencing of 529 people stirs global outrage (Time article)

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Bill of Goods.

Is the increased cost of education in the basket of consumer items that FED's uses to work out the inflation rate, do you think?

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