Daily Digest

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Daily Digest 5/20 - ECB Will Act If Inflation Target Isn't Met, More Red Light Cameras Coming Out

Wednesday, May 20, 2015, 10:41 AM

Economy

San Bernardino council backs bankruptcy plan that hammers bondholders

San Bernardino's council approved a bankruptcy exit plan on Monday night that seeks to virtually eliminate the southern California city's pension bond debt while paying Calpers, the state pension system, in full.

Chicago Said to Delay $383 Million Bond Sale After Downgrade

Chicago is evaluating options to sell bonds at the lowest cost possible after Moody’s Investors Service lowered the city’s rating to junk last week, the official said. The downgrade threatens to raise Chicago’s borrowing costs as investors demand higher yields on its securities and exposes it to penalties tied to the floating-rate debt.

10 Investigates: More red light cameras coming out (Florida)

More cities and counties are deciding to end their red light camera programs after longer yellow lights, prompted by a 10 Investigates series, slashed their abilities to profit off the technology.

Half of college graduates expect to be supported by their families

The effective unemployment rate for 18 to 29 year-olds, which adjusts for labor-force participation by including those who have given up looking for work, was 13.8% in April, according to Generation Opportunity, a conservative, nonprofit think tank based in Arlington, Va.

Euro Slumps After Official Says ECB Will Front-Load Stimulus

By mid afternoon, the euro was down 1.5% against the buck on the day at just over $1.11, after the ECB published comments delivered by board member Benoît Coeuré saying the central bank would moderately front-load purchases in its bond-buying program in anticipation of less market liquidity in the summer.

Baht in Currency War After First-to-Worst Rout a Year After Coup (Thailand)

While the Bank of Thailand denies it is trying to weaken the baht, it has lowered borrowing costs and loosened capital controls in the past two weeks. Interest-rate swaps signal further easing as the Thai junta, led by former military leader Prime Minister Prayuth Chan-Ocha, struggles to boost growth and domestic confidence after taking power in a coup on May 22 last year.

Noyer: ECB will act if inflation target isn't met

The European Central Bank is ready to take additional steps to boost inflation if its current quantitative easing program proves insufficient, the head of France's central bank Christian Noyer said Tuesday.

RBA minutes confirm scope for further interest rate cuts (Australia)

The Reserve Bank of Australia remains open to further interest rates cuts, according to the minutes of the last board meeting, with the slowdown in China, weak capital expenditure and concerns about the the job market continuing to weigh on its thinking.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/19/15

Provided daily by the Peak Prosperity Gold & Silver Group

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7 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1614
Money for community organizers to solve police problem

http://www.wnd.com/2015/05/obama-to-unleash-community-organizers-on-crime-filled-cities/

The Department of Justice announced it will send millions of dollars to various community-activist groups to combat urban crime and reduce tensions between racial minorities and the police.

But critics believe such policies will only fuel further unrest by funding many of the so-called “community organizers” responsible for creating anti-police sentiment in American cities.

This ought to be interesting.

Trun87114's picture
Trun87114
Status: Bronze Member (Offline)
Joined: Apr 28 2013
Posts: 80
That's what we do

That is what we do in this country.  If a problem is identified, throw some money at it.  Don't worry about making sure the money is well spent or the law of unintended consequences, just throw some cash at it and then kick it down the road.

T.

 

thc0655 wrote:

http://www.wnd.com/2015/05/obama-to-unleash-community-organizers-on-crime-filled-cities/

The Department of Justice announced it will send millions of dollars to various community-activist groups to combat urban crime and reduce tensions between racial minorities and the police.

But critics believe such policies will only fuel further unrest by funding many of the so-called “community organizers” responsible for creating anti-police sentiment in American cities.

This ought to be interesting.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Augering the runes.

Why do I get the impression that our masters all over this planet are trying to stimulate their economies? 

Could it be that world Economic Growth is not to their liking?

I went to buy a marine stove today. They were "on special"@ $1500. Now they are down to $1300. Food on the other hand, shows no sign of deflation. One is tempted to conclude that industrial output has peaked but agriculture is in deficit. 

Make of that what you will.

http://litteraturdagbok.blogspot.com.au/2015/05/i-eigne-uager-vert-ein-a...

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2830
Food price$ increa$ing...

...and the rate of food price increase appears to be accelerating. A personal observation based on my recent shopping trip to the local grocer.

So if price$ are going up, does that mean $upply is going down?

I still haven't quite got the hang of this Free Market Economy.  It is a most insatiable Thing.

Food per capita, anyone?

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
More Clarke and Dawe

The state of Australian politics.

http://www.abc.net.au/news/2015-05-21/clarke-and-dawe---the-state-of-pol...

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1447
Arthur Robey wrote: Why do I
Arthur Robey wrote:

Why do I get the impression that our masters all over this planet are trying to stimulate their economies? 

Could it be that world Economic Growth is not to their liking?

I went to buy a marine stove today. They were "on special"@ $1500. Now they are down to $1300. Food on the other hand, shows no sign of deflation. One is tempted to conclude that industrial output has peaked but agriculture is in deficit. 

Make of that what you will.

http://litteraturdagbok.blogspot.com.au/2015/05/i-eigne-uager-vert-ein-a...

Its all smoke and mirrors.  

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