Economy
Zimbabwe after Mugabe: The country where pensions have disappeared (Saxplayer00o1)
He is 85, and served one company for 46 years as a cleaner, eventually rising to become a receptionist. Vesta says that increasing inflation has robbed them both of a comfortable retirement. A year ago Teddie’s monthly pension was worth $80 (£66), it’s now worth $10.
Nearly 40% Of Education Spending Consumed By Pension Costs (Saxplayer00o1)
Since 2010 alone, spending on educators’ pensions more than doubled, jumping to over $5 billion from less than $2.5 billion. Classroom spending, meanwhile, grew modestly to $8.8 billion from $8.5 billion.
New York health insurance premiums will grow in 2020 (Saxplayer00o1)
Health insurance premiums will rise approximately 6.8 percent next year for individuals and 7.9 percent for employers who purchase coverage on New York’s state-run health exchange.
More Americans are falling behind on their debt payments (Saxplayer00o1)
Bankruptcies are on the rise as American pile up more and more debt. Household debt is near $14 trillion, which is $1 trillion more than it was during the 2008 great recession peak. Samuel Gerdano, the Executive Director of the American Bankruptcy Institute joins Yahoo Finance’s On The Move to discuss.
Demand for junk bonds grows, and so do liquidity worries (Saxplayer00o1)
Over 1.1 billion euros flowed into euro-denominated high-yield debt funds in June, data from Refinitiv showed, taking total assets to a 53.7 billion, the highest for nearly two years and a sliver away from an all-time high.
Why Gold Prices Are About To Skyrocket Even Higher (Saxplayer00o1)
“Government’s around the world are becoming increasingly wary of the dollar’s hegemony in international trade,” says Moore. “And they’re doing their best to distance themselves from it by using their gold reserves to buy more gold instead.”
Central bank rate cuts are inflating a cheap money bubble (Saxplayer00o1)
There is no market history that supports stock market capitalizations above 145% of GDP for an extended period of time. There is also no history that suggests unemployment can stay this low (near a 50-year low) for an extended period of time. And there certainly is no history that suggests that both can be maintained for an extended period of time concurrently.
Recession Fears Spike to 2011 High as Risk of Bubbles Spreads (Saxplayer00o1)
Recession fears are spreading among investors at a time when valuations across major assets are looking dangerously stretched following years of monetary stimulus, the latest Bank of America Corp. survey shows.
Argentina Default Fear Looms as Traders Dump Assets (Saxplayer00o1)
In the wake of President Mauricio Macri’s stunning rout in primary elections over the weekend, investors dumped its stocks, bonds and currency en masse in a selloff that left much of Wall Street wondering whether the crisis-prone country was headed for yet another default.
Negative bond yields are not reflecting economic reality, Fitch warns (Saxplayer00o1)
Fitch said Tuesday that there are now nine countries issuing 10-year bonds at prices that would return a negative yield to maturity of the bond. The ratings agency warned, however, that capital piling into a country’s issued debt didn’t necessarily reflect the stability of that economy.
Bonds Meet the Four Criteria for Defining a Bubble (Saxplayer00o1)
Even without taking into account the extraordinary negative rates in Germany and other leading European countries, these look like bubble valuations, rather than the prices that happen at the top of the cycle. Beyond that, Watling argues perfectly convincingly that the concept of negative yields is inconsistent with how a financial system should work
Tesla Pickup Truck: Everything We Know, Including Price, Range & More (Thomas R.)
“We don’t want it to be really expensive. I think its got to start at less than $50,000 – it’s got to be like $49,000 starting price max. Ideally less. It just can’t be unaffordable. It’s got to be something that’s affordable. There will be versions of the truck that will be more expensive, but you’ve got to be able to get a really great truck for $49,000 or less.”
Heat Wave Pushes Texas Power Demand To Record-High (Michael S.)
Last month, the Houston Chronicle’s Bernard L. Weinstein questioned ERCOT’s ability to keep the air conditioners running in August in light of the fact that a third of the state’s power comes from wind farms. Weinstein also noted the small reserve margin, noting “Should several large power plants go offline for maintenance or a broken gas line, we will likely see brownouts or blackouts.”
Gold & Silver
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The post Daily Digest 8/14 – Recession Fears Spike to 2011 High, More Americans Falling Behind On Debt Payments appeared first on Peak Prosperity.
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