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Daily Digest 5/30 - San Diego taps a bottomless well, How to Save Puerto Rico

Monday, May 30, 2016, 3:10 PM

Economy

San Diego taps a bottomless well: the Pacific Ocean

In Southern California, fresh water is constantly in short supply. But the San Diego area can now tap into a resource that’s not dependent on rain — a new $1 billion desalination plant that is the largest in the Western Hemisphere.

These 7 data points reveal the sorry state of Americans’ finances

More Americans may think they’re “living comfortably” or “doing okay,” but many are far from fine.

In a survey of about 5,700 people released Wednesday by the Federal Reserve, respondents said they are doing better than in recent years, but the results show they are still facing tough choices, leading them to make some bad financial moves, from taking on risky loans to undersaving for retirement.

How to Save Puerto Rico

Three and a half million Americans live on an island that is in economic free-fall, and Congress still isn’t sure whether it will throw them a lifeline. A bipartisan bill to help Puerto Rico is expected to come to a vote soon in the House. It has flaws and it is facing opposition on many fronts, but at this late hour it offers the island its best chance of survival.

Saudi Arabia Said to Weigh Bond Sale of as Much as $15 Billion

Saudi Arabia is considering the sale of as much as $15 billion of bonds this year, encouraged by investor demand for Qatar’s recent issue, people with knowledge of the matter said.

The country may replicate Qatar’s $9 billion sale by issuing bonds with five-, 10- and 30- year maturities, the people said, asking not to be identified as the talks are private. It’s weighing a sale of $10 billion to $15 billion after the end of Ramadan in July, the people said, adding no final decision has been made and the discussions are still at a preliminary stage. It would be Saudi Arabia’s first bond sale in international capital markets.

How Finance Took Over the World: Odd Lots Podcast

This week, we speak with Satyajit Das about the prominent role played by finance in the economy, markets, and monetary policy. A former banker, trader, and corporate treasurer, Das is well-placed to walk us through the development of global financialization and its pitfalls - including the world's outsized reliance on debt-fuelled growth.

Volkswagen Reports Profit Drop as It Grapples With Emissions Scandal

BERLIN — Volkswagen said Tuesday that profit fell 19 percent in the first three months of the year, as the carmaker continued to deal with the fallout of the emissions scandal.

Volkswagen’s quarterly profit of 2.4 billion euros, or $2.7 billion, was better than analysts forecast. It was also an improvement from the loss in the last three months of 2015.

Gold & Silver

Click to read the PM End of Week Market Commentary: 5/27/16

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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