Daily Digest

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Daily Digest 3/11 - A Student Loan Bill Of Rights, America's Skyrocketing Credit Card Debt

Wednesday, March 11, 2015, 10:10 AM

Economy

Obama to propose student loan bill of rights

Student loan debt topped $1.3 billion at the end of December, according to numbers from the New York Federal Reserve. More are having problems paying off the loans, with delinquencies — in which no payment has been made for at least 90 days — now at 11.3% for all loans.

UC tuition-hike reversal not on regents’ agenda

The University of California’s governing board will not revisit its November decision to hike student fees by up to 28 percent over the next five years, despite a plea by one of its own members to reconsider.

America's skyrocketing credit card deb

While Americans are carrying more debt, their earnings are barely ahead of where they were a decade ago. Household earnings have increased only 2 percent during the past 10 years, The Pew Charitable Trusts said in a study issued last month.

Recession’s Impact Lingers for Many States

There are 30 states still collecting less in taxes, adjusted for inflation, than when the recession hit, according to a Pew Charitable Trusts study that examined the data through September.

China shifts stimulus focus from monetary to fiscal policy

Local governments have racked up huge debts, largely off-balance sheet, as they went on spending binges designed to promote growth and gild the reputations of officials. Borrowing through 10,000 local government finance vehicles was nearly $3tn, according to a government survey published in December 2013.

Pennsylvania lawmakers get warned on Scranton's pension debt

Pennsylvania's elected fiscal watchdog, Auditor General Eugene DePasquale, says Scranton will go bankrupt in the next two to four years unless lawmakers come up with a statewide solution to the state's growing problem of municipal pension debt.

Central Banks Said to Buy Bund Notes With Negative Yield

As the ECB and national members embark on purchases of sovereign debt designed to boost price growth in the region, rates on short-term bonds are below zero in seven euro-area nations, meaning a buyer would get less back than they paid if they held them to maturity.

German, Italian, Spanish bond yields slump

The yield on German, Italian and Spanish 10-year government bonds has fallen to new record lows following the launch of a massive ECB program to ward off deflation.

EU gives France third extension to cut its budget deficit

European Union finance ministers gave France two more years on Tuesday to cut its budget deficit to within EU limits, extending the deadline for the third time since 2009 as Paris struggles to enact reforms.

Draghi-Backed Report Says Sovereign Debt No More a Risk-Free Bet

Government debt can no longer be considered a risk-free asset for banks, and international regulators should consider changing the existing legislation, the European Systemic Risk Board said.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/10/15

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Posts: 4060
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
on America's skyrocketing credit card deb

re: America's skyrocketing credit card debt

this outfit shows a greater YoY increase than fed data...moreover, we've havent even regained pre-recession levels of credit card debt...

http://www.federalreserve.gov/releases/g19/current/

as you see, car and student loan are another matter

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 519
Lets have the politicians exposed!

LesPhelps's picture
LesPhelps
Status: Platinum Member (Offline)
Joined: Apr 30 2009
Posts: 725
Student loans topped 1.3 billion?!

I believe that should be 1.3 Trillion.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060

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