Study Finds Public Pension Promises Exceed Ability to Pay – G.G.
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Reader T.A. submitted this article from Zero Hedge: A Glimpse of Things to Come: Canadian Oil Company Liquidates Hours After Bank Demands Repayment
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Items from Professor Preponomics:
US News
Puerto Rico’s Financial Crisis Has Been Brewing for 75 Years (Business Insider) Excerpt: “If Puerto Rico and its bondholders are to receive a bailout, it should at least be accompanied by the long overdue privatization of its New Deal structures.”
Puerto Rico’s Slide (Bloomberg QuickTake) Excerpt: “It’s a tale of financial mismanagement, Wall Street complicity and good intentions gone awry.”
CAGW Releases March 2016 WasteWatcher (Citizens Against Government Waste) A Tale of Two Spending Bills. Obamacare’s Festering Fraud Wound. Privacy in the Digital Age. More!
Ahead of Major Tests, Obama Claims Success on Banking Reform (Washington Examiner) Perhaps the most interesting part of this article is the question it raises: what comes next?
International News
Greek Banks Admit to Charging Customers to Exchange Big Bills for Smaller Ones (Zero Hedge) Excerpt: ” So if you are Greek and you were effectively forced to take your money out of the bank because after last summer you feared a depositor bail-in might be right around the corner, you now have the distinct pleasure of having to pay a fee to exchange your large bills for smaller ones at the very same banks where you withdrew the money in the first place.” Warning: Commentary following the article may contain bad language and/or inappropriate avatar images.
Europe: Go Big or Go Home (Huffington Post) This is an interesting take (although certainly only one opinion, which will no doubt raise the decibel count of all the voices in the global room) on the question of Turkey accession to the European Union. Excerpt: “Given the size of its economy and its geostrategic location, Turkey could reenergize the EU at a time when the body is so desperately in need of a blood transfusion.”
The Budget’s Bottom Line: Taxes will Rise and Rise Again (The Telegraph) Excerpt: “So the idea that their forecasts, however mathematically rigorous and objective, should be trusted four or even five years ahead is laughable; the view that these should form the entire basis of our fiscal policy is terrifying.”
Personal Economics and Household Finance
How to Start a Business (US Small Business Administration) Thinking about starting your own business? Here are some organizational tips to help support the development of a sound business plan! SurvivalBlog has posted a number of insightful reader contributions over the years on this important subject. Here are just a couple in review: How to Create a Home Based Business for TEOTWAWKI by TJ and Making a Business of Preparedness by HP.
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