Economy
Why student loan debt is ballooning for those 50 and up (Saxplayer00o1)
Aggregate student loan balances of borrowers ages 50 and older increased 512%, adjusted for inflation, in 14 years, according to the AARP’s “The Student Loan Debt Threat” report. Borrowers in that group owed $289.5 billion in 2018. About 8.4 million student loan borrowers are ages 50 and older.
Defaults in Asia Set to Rise With Hot Spots in China, India (Saxplayer00o1)
Many investors expect fewer bailouts by the Chinese government after it recently let commodities trader Tewoo Group default in the biggest failure on a dollar bond by a state-owned firm in two decades. Companies in the region have been on a buying spree fueled by debt. Those factors could make things even worse in 2020 after China onshore defaults rose to a record in 2019.
Fed’s Year-End Repo Is Underscribed Again, But Outlook Cloudy (Saxplayer00o1)
The central bank is planning to offer a total of $490 billion via repo operations for the turn of the year, including the $156 billion that it has already pumped in through five earlier term actions.
Survival camps cater to new fear: America’s political unrest (Thomas R.)
“There is growing concern that after the 2020 election there could be massive, long-lasting civil unrest if people say, ‘Hey, I don’t buy the new president, I don’t recognize him or her,’” said Miller, who has added “civil war” to his risk scenarios.
Skeptics said Fortitude Ranch was preparing for catastrophic events that were unlikely and possibly not worth surviving.
Farewell to Paper Money? (thc0655)
At some point, we can expect banks to disallow any payment for cryptos such as bitcoin through central bank cryptos and refuse accounts to anyone who has a history of dealing in non-central bank cryptos. The objective will be to eliminate the possibility that your grocer or gas station, along with any other bank depositor, might accept bitcoin. The intent will be to send bitcoin to the crypto graveyard.
Banks Get Tough on Shale Loans as Fracking Forecasts Flop (Kirk P.)
Banks have begun to tighten requirements on revolving lines of credit, an essential lifeline for smaller companies, as these institutions revise estimates on the value of some shale reserves held as collateral for loans to producers, according to people familiar with the matter.
How We Cut Our Electricity Usage by 85% (Kara S.)
Of the electricity generated in America, 38% is used in homes. Another 37% is used in commercial settings, and the rest in manufacturing. Individuals obviously have much less influence over these last two categories, but it certainly can’t hurt to shop less, buy less, buy used and retire early. At the very least, that’s all good for the bank account and the clutter level.
The 10 Most Important Oil Market Trends For 2020 (Thomas R.)
The United States exported more crude oil and petroleum products than it imported in September 2019—the first month in which America was a net petroleum exporter since monthly records began in 1973, the U.S. Energy Information Administration (EIA) said earlier this month.
Another Oil Major Bails On Marcellus Shale (Thomas R.)
Why is Chevron abandoning the Marcellus for the Permian? Let’s take a look at the isopach maps for both. In the graphic for the Marcellus, noted as Figure 2, you can see it is a relatively thin structure over most of its extent. And thins progressively the farther west it goes.
‘No news is good news’ for families of Australia’s volunteer firefighters (Thomas R.)
“I have a little emoji of a bald guy with a bit of facial growth giving a thumbs up, and so every hour or so I try and send that emoji to her and she knows that I’m OK,” Andrew Hain told Reuters, shortly after fighting fires in the Wollondilly Shire, south of Sydney.
Existing environment regulations are meant to curb greenhouse gas emissions, protect land and animals from oil and gas drilling and development, as well as limit pollution and toxic waste runoff into the country’s water. The administration views many of them as onerous to fossil fuel companies and other major industries.
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The post Daily Digest 12/25 – Farewell to Paper Money, Why Student Loan Debt Is Ballooning For Seniors appeared first on Peak Prosperity.
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