Daily Digest

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Daily Digest 6/25 - Gas Prices Hit Six-Year High, 1/4 Of Americans Have No Emergency Savings

Wednesday, June 25, 2014, 9:06 AM

Economy

Marxist Rebels Sabotage Bondholders in Colombia Selloff

Colombia’s bondholders have become Latin America’s biggest losers as rebel attacks on oil sites imperil production and the government plans more debt sales.

Singapore to launch gold contract as Asia eyes price alternatives

The physically settled contract will trade on the Singapore Exchange. This and other planned contracts in Hong Kong and China could cut Asian reliance on gold's spot price benchmark in London and futures bellwether in New York.

KCBS Cover Story Series: California Drought Turning Central Valley Farmland Into Dust Bowl

Wells are now the only option for many communities and Tom Vanhoff, who also lives in Chowchilla, said all the extra pumping is dropping the water levels to depths never seen before.

Gas Prices Hit Six-Year Seasonal High

Almost one month into the 2014 summer driving season, the national average has hit $3.68 per gallon. AAA noted that the average has bumped up for the past 12 consecutive days by a total of 4 cents per gallon (CPG), approaching 2014's current retail price peak of $3.70 per gallon, hit in late April.

Oil prices spark economic growth concerns

World growth forecasts have already been cut for 2014, in part due to the deep winter freeze which caused the U.S. economy to shrink in the first quarter.

Further sustained gains in oil prices could make for a weaker rebound in the second half. And it's not just major Western economies that would feel the pinch.

About a quarter of Americans have no emergency savings, poll finds

About 26% of Americans have no money saved to handle emergencies, according to a new poll that showed households making little progress over the past year in their ability to deal with financial trouble.

Consumers Will Spend More on Health Care in 2015, Report Predicts

The report, from PricewaterhouseCoopers’s Health Research Institute, forecasts medical cost growth of 6.8 percent over all in 2015, compared with the institute’s estimate of 6.5 percent for this year.

Starbucks hikes prices on brewed coffee, lattes, bagged beans

But Starbucks cafes aren't the only place where the chain's java is getting pricier. Packaged coffee grounds sold at grocery stores are due jump 8% on July 21 — that means a $1 increase from $8.99 to $9.99 in most stores.

Rising food prices mean difficult choices for hungry Montanans

The U.S. Bureau of Labor Statistics says nationally produce prices are up over 3%, while meat, poultry, fish and eggs are up nearly 8% in the latest report.

Calif. drought expected to push food prices higher across U.S.

Daniel Sumner, director of the Agriculture Issues Center at the University of California Davis, cautioned that prices of rice would likely jump 10-20 per cent this year.

Prices of fruits and vegetables are expected to increase by 3 per cent this year, while prices of beef and eggs will likely become dearer by 6 per cent and 5 per cent, respectively.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/24/14

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."

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