Items from Mr. Econocobas:
Silver Heads for a Bull Market as Prices Rally to 10-Month High
“This Will All Blow Up In The Fed’s Face,” Schiff Warns
Peter Schiff: The Winter of Discontent
Items from Professor Preponomics:
US News
Pensions for Public Servants to Force Government Failures (My Gov Cost) Excerpt: “The problem is surprisingly simple: States and cities overestimate returns on their pension fund investments, while systematically underfunding them.”
Peabody Declares Bankruptcy, Could Leave Clean-Up Costs to Taxpayers (Taxpayers for Common Sense) Excerpt: “The company has a total of $2 billion in outstanding mine clean-up or reclamation liabilities, $1.4 billion of which is held in unsecured “self-bonds.” PBS News Hour is also following the story: Nation’s Largest Coal Mining Company Files for Bankruptcy Protection
Congress Hits Brakes on Puerto Rico Debt Crisis Bill (Fox News) Excerpt: “…the committee soon canceled a vote set for Thursday amid internal divisions – even as the island’s leaders warned it might have to default on an upcoming bond payment without help. “
International News
Deutsche Bank Settles US Gold, Silver Price-Fixing Litigation (Reuters) Excerpt: “The plaintiffs accused Deutsche Bank of conspiring with Bank of Nova Scotia, Barclays Plc, HSBC Holdings Plc and Societe Generale to manipulate prices of gold, gold futures and options, and gold derivatives….”
The Big Four Banks Have a $3 Billion Exposure to Recent Corporate Collapses (Business Insider) Excerpt: “Australia’s big four banks have an exposure of more than $3 billion from a handful of recent high profile corporate collapses.”
Policymakers Fret as Storm Clouds Gather Over World Economy (Reuters) Excerpt: “World financial leaders sounded a sour note on the global economy on Thursday, pointing to Britain’s possible exit from the European Union as a serious threat alongside China’s bumpy growth path and dissent over interest rates in the euro zone….”
China’s Economy Could Be In More Trouble Than We Think (Business Insider) Excerpt: “Which is precisely where things stop making sense: rail freight volume plunges 10.5% in 2015, and the economy still increases 6.9%? I mean, come on.”
Personal Economics and Household Finance
9 Money-Saving Tips to Help You Avoid Overspending (Clark Howard)
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