Daily Digest

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Daily Digest 10/22 - China Growth Forecast Cut, Health Care Premiums To Spike

Wednesday, October 22, 2014, 10:17 AM

Economy

Share No More: The Criminalization of Efforts to Feed People In Need

In recent years, cities across the nation have established a precedent of criminalizing homelessness and pushing the problem out of sight. One method that has become more popular has been to introduce new legislation, designed with the intention of restricting individuals and groups from sharing food with people experiencing homelessness.

Russia Cancels 2nd Domestic Debt Auction

Russia's finance ministry said Tuesday it had canceled its domestic debt auction due Wednesday for the second week in a row due to "unfavorable market conditions."

Area firms brace for double-digit hike in health care premiums (NY)

High-deductible health plans continue to make inroads in the Rochester market as area firms brace for an expected 13.1 percent increase in premium costs, the latest Rochester Business Alliance Inc. employer survey shows.

Vermont employees to see big health care jump

Vermont state employees are going to be hit with a nearly 18 percent increase in their health insurance premiums. Human Resources Commissioner Maribeth Spellman says the increase is taking place because more state employees than projected were treated last year for cancer and heart disease.

Health Care Costs Expected to Rise in 2015: Are You Ready?

Health care costs are expected to grow 6.8 percent overall next year, according to a report from PricewaterhouseCooper’s Health Research Institute. While not all this growth will be passed on to consumers, it’s likely you’ll see some increases, particularly when it comes to your health insurance.

China's economy suffers its worst quarter since the financial crisis

A few Chinese companies have defaulted on their debt in recent months-- a previously unheard of phenomenon -- and no government bailouts are in sight.

Worries have also escalated over the use of unconventional financing. Some firms, for example, have been using copper as collateral to secure loans. Experts are concerned that some companies are even using the same copper stockpiles to take out multiple loans, borrowing far more than they can repay.

Deutsche Bank cuts China growth forecast

Deutsche Bank on Tuesday cut its economic growth outlook for China, citing a slowdown in property investment. The bank now forecasts gross-domestic-product growth of 7.3% in 2014 and 7% in 2015, down from 7.8% and 8%, respectively.

Detroit turns to scrapping to fill budget hole

City leaders are borrowing a page from scrappers and thieves by selling old copper wire to patch a hole in Detroit's finances.

The city will scrap 13 million pounds of copper wire left over by decommissioning the Public Lighting Department, a city consultant testified Tuesday during the Detroit bankruptcy trial.

Fukushima film shows reality sinking in for 'nuclear refugees'

Before the Fukushima nuclear crisis forced them from their homes, residents of Futaba had praised the Daiichi power plant as a "godsend" that brought jobs and money to the Japanese coastal town.

Now, more than three years after the disaster, they remain stuck in cramped emergency housing facing the reality they will likely never go home,

Russians Pull $5 Billion Out of Banks as Ruble Plummets

Russians pulled 52.6 billion rubles ($1.3 billion) out of ruble deposits in September as Moscow battled to keep its currency afloat amid plummeting oil prices, high capital outflows and Western sanctions over the Ukraine crisis, business daily Vedomosti reported Tuesday, citing data from the Central Bank.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/21/14

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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