Daily Digest

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Daily Digest 1/28 - Louisiana Budget Hole Widens Further, 'Wall Of Debt' Grows Dangerously High

Wednesday, January 28, 2015, 12:07 PM

Economy

Kuroda remarks open possibilities for shift in BoJ stimulus (Japan)

Governor Haruhiko Kuroda says the Bank of Japan may need to get creative in any further monetary stimulus.
Among options analysts highlight: regional-government bonds, a type of security that could aid public support.

Kuroda, speaking in an interview with Bloomberg Television on Friday in Davos, Switzerland, said “there are many options and I don’t think it’s constructive to say this or that could be done.” He reiterated that if inflation expectations are “seriously” affected by disinflation, policy can be changed.

South Korea finance minister sees price deflation risk

South Korea’s finance minister warned on Monday of deflation risks and promised to keep prices at an appropriate level, but analysts played down chances of any policy shift in the short term.

Obamacare program costs $50,000 in taxpayer money for every American who gets health insurance, says bombshell budget report

The numbers are daunting: It will take $1.993 trillion, a number that looks like $1,993,000,000,000, to provide insurance subsidies to poor and middle-class Americans, and to pay for a massive expansion of Medicaid and CHIP (Children's Health Insurance Program) costs.

Greece debt repayment in full is 'unrealistic', says Syriza

It is unrealistic to expect Greece to repay its huge debt in full, the chief economics spokesman for the victorious Syriza party has told the BBC.

"Nobody believes that the Greek debt is sustainable," Euclid Tsakalotos said.

Sacramento’s ‘wall of debt’ grows dangerously high

City Treasurer Russ Fehr will report Tuesday night to the City Council that long-term unfunded liabilities grew by another $102 million in the past year and now stand at nearly $2.3 billion. Barring miraculous economic growth, that debt will hit taxpayers sooner or later, through higher taxes and fees or reduced services or both.

CBO: Interest on federal debt will triple over coming decade

The interest payments alone are expected to hit $227 billion this year, more than double to $480 billion by 2019 and more than triple to $722 billion by 2024.

Louisiana budget hole widens even further

The gap for fiscal year 2016 has widened to more than $1.5 billion.
The price of oil is mostly to blame. Lawmakers pegged this year's budget at $100 per barrel oil. It's now about half that.

Greek borrowing costs continue to surge after Syriza win

On Tuesday, the yield on 10-year government paper jumped 55 basis points, to 9.548%, the highest level in a week, according to electronic trading platform Tradeweb. On 5-year paper, borrowing costs surged 1.478 percentage points to 11.604%.

Pound slides after U.K. GDP misses forecasts

The Office for National Statistics said the U.K.'s gross domestic product expanded by 0.5% in the fourth quarter, a slower growth rate than the 0.7% logged in the third quarter and weaker than the 0.6% expected by economists.

China lowers its industrial-output target for 2015

China has lowered its target for industrial-output growth to around 8% this year from 9.5% in 2014, an official at the industrial ministry said Tuesday.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/27/15

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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