Economy
Despite Obamacare, a ‘shockingly high’ number of people know someone who died after being unable to afford health care (Saxplayer00o1)
He says this high number is likely a combination of many factors, including the high cost of health care, a lack of savings to pay for emergencies, the fact that even with health insurance many Americans still can’t afford care, and that more people are now living without health insurance than even a few years ago.E
Argentina Is Running Dangerously Low on Dollars to Pay Back Debt (Saxplayer00o1)“If you run out of money, you run out of money,” Morden, who runs the firm’s Latin America fixed-income strategy from New York, said in an interview. “There’s serious risk of a hard default next year.”
Bond investors are largely prepared for that moment, having already driven down the price of some of the government’s foreign bonds to less than 40 cents on the dollar. But the dire foreign reserves situation indicates the default could come sooner than some expect, perhaps shortly after President-elect Alberto Fernandez takes office in December.
Moody’s cuts global sovereign rating outlook to “negative” for 2020 (Saxplayer00o1)
“In an unpredictable environment, growth and credit risks are tilted to the downside,” Moody’s said in a report on the 142 countries it rates and their $63.2 trillion of sovereign debt.
“There are few silver linings, and a rising risk of more negative outcomes,” it added. “Unpredictable politics create an unpredictable economic and financial environment.”
Supreme Court lets Sandy Hook families sue gun maker Remington Arms (Thomas R.)
Remington argued the Connecticut Supreme Court interpreted the exceptions too broadly, and appealed its case to the US Supreme Court. Now that the appeal has failed, the lawsuit will proceed in the lower courts.
The suit is meant to hold the gun industry accountable, and send a message that may encourage a few more checks, on the manufacturers’ or sellers’ part, to marketing and selling firearms.
UK General Election Forecast (James W.)
The British political class are still shaken by the May 2017 general election when Labour surged in the polls once campaigning started. The risk is that commentators have the 2017 model in their head when they should be thinking of different scenarios.
The 2017 scenario is that Labour and Corbyn’s polling will surge during the coming weeks and ruin any prospect of a Tory majority. That remains a possibility although there is limited sign of it to date.
Trump calls U.S.-China deal ‘close’ in speech where he blasts Fed and touts economic successes (Sparky1)
Trump also took aim at the Federal Reserve and touted U.S. job creation in the midday speech, saying that his administration had “exceeded expectations” on the U.S. economy by creating nearly 7 million new jobs. The number is closer to 6.5 million since the beginning of the Trump administration, according to the government.
Clinton says she is being urged by ‘many, many, many people’ to run in 2020 (Don R.)
Whereas in previous election cycles the field narrowed as the primaries approached, 2020 is different: Democrats continue to join, indicating an unsettled and broadening race less than three months before the Iowa caucuses and as polls reflect shifting support for top-tier candidates.
Blackstone Group Warns of the Mother of All Bubbles (Sparky1)
Schwarzman has similar concerns about interest rate cuts by the Federal Reserve. “Interest rates are historically low in the United States, and you keep driving them lower, where do you get? What’s the objective?” he asked rhetorically during a recent interview with MarketWatch. “If you push down [interest rates] too much, you create the problem you are trying to solve,” he continued, indicating that low rates are hampering economic growth, in his opinion.
Give me some of that: Trump renews call for negative U.S. interest rates (Sparky1)
“Remember we are actively competing with nations that openly cut interest rates so that many are now actually getting paid when they pay off their loan, known as negative interest. Who ever heard of such a thing?” He said. “Give me some of that. Give me some of that money. I want some of that money. Our Federal Reserve doesn’t let us do it.”
Trump Impeachment And The Civil War Scenario (thc0655)
In 2019, Trump has attached his administration completely to the performance of markets with endless Twitter comments, taking full credit for the financial bubble that he once criticized. He has also now called for the Fed to bring interest rates down to zero to artificially support the economy once again (Obviously we have to ask the big question – If this is the “greatest US economy ever”, then why would Trump want the Fed to introduce more stimulus to prop it up?).
America’s largest milk producer files for bankruptcy (Thomas R., Sparky1)
As part of the bankruptcy process, the company secured $850 million in financing from its existing lenders, including Rabobank (RSWLDD), to keep the company running.
Once a staple of the American refrigerator, milk has slowly fallen out of favor with consumers as they seek less-sugary or plant-based alternatives.
5 Global Trends Shaping Our Climate Future (Thomas R.)
Under current policies, the report predicts that renewables such as wind, solar and hydropower will surpass coal as the world’s dominant source of electricity by 2030, growing to 42 percent of global generation. Coal would drop to 34 percent. Natural gas, which is cleaner than coal but which still produces plenty of planet-warming emissions, is also poised to cut into coal’s market share.
‘Unnoticed Apocalypse’: Dying Insects Put Humankind’s Existence at Risk (LesPhelps)
The report stressed that it is not too late for the international community to address this issue as insect populations can rapidly recover if we introduce significant changes by reducing the use of pesticides, greening cities, and creating an insect friendly habitat with a special focus on farmland. “No matter how many gardens we make wildlife friendly, if 70% of the countryside remains largely hostile to life, then we are not going to turn around insect decline”, Professor Goulson said.
Bacteria may contribute more to climate change as planet heats up (Roger B.)
By releasing more carbon as global temperatures rise, bacteria and related organisms called archaea could increase climate warming at a faster rate than current models suggest. The new research, published today in Nature Communications by scientists from Imperial College London, could help inform more accurate models of future climate warming.
Humans Are Speeding Extinction and Altering the Natural World at an ‘Unprecedented’ Pace (Thomas R.)
Its conclusions are stark. In most major land habitats, from the savannas of Africa to the rain forests of South America, the average abundance of native plant and animal life has fallen by 20 percent or more, mainly over the past century. With the human population passing 7 billion, activities like farming, logging, poaching, fishing and mining are altering the natural world at a rate “unprecedented in human history.”
In a first, microplastics found in human poop (Thomas R.)
Food packaging can shed small fibers. So can household carpeting, clothing, and other plastic-based items that populate our everyday lives. Could the fibers in the stool have come from airborne dust that fell onto the study participants’ food before they consumed it? Or did the microplastics come from the food or packaging itself?
Growing pile of human and animal waste harbors threats, opportunities (Thomas R.)
From 2003 to 2014, the amount of waste biomatter produced grew annually by more than 57 million tons as both human and livestock populations grew. The researchers estimated that by 2030, the total amount of global fecal biomass produced each year would reach at least five billion tons, with livestock waste outweighing that from humans six to one at the country level.
Gold & Silver
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The post Daily Digest 11/13 – Moody’s Cuts Global Sovereign Rating Outlook To “Negative,” Global Trends Shaping Our Climate Future appeared first on Peak Prosperity.
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