Economics and Investing:

Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks

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Obama Has Collected $18,764,164,000,000 in Taxes–$124,003 Per U.S. Job – Sent in by B.B.

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Items from Professor Preponomics:

US News

Shoe Company: Obama Admin Pressured Us to Stay Quiet on TPP (The Weekly Standard) Excerpt: “Tariffs on shoes are steep, and New Balance is one of a handful of shoe companies that still manufactures shoes in the United States.”

Panama Papers Offer More Evidence that Free Trade isn’t Really Free (Huffington Post) Excerpt: “But what about the United States — why haven’t our usual suspects, the parade of moneybags we’re used to seeing flaunt their wealth even as they do their best to conceal vast portions of it — made an appearance in the leaked data? Let’s go back to that golf game in Martha’s Vineyard.”

Swiss Banker Whistleblower: CIA Behind the Panama Papers (CNBC) Excerpt: “Birkenfeld, an American citizen, was a banker working at UBS in Switzerland when he approached the U.S. government with information on massive amounts of tax evasion by Americans with secret accounts in Switzerland.”

The $146 Billion Obamacare Mistake (Government Waste Fraud and Abuse) This is the story of a very serious forecasting error. Unfortunately forecasting errors are all too common.

Out of Pocket Healthcare Costs Outpacing Costs Covered by Insurance (Washington Free Beacon) Excerpt: “Higher out of pocket costs paired with these skyrocketing premiums means that Americans are paying more for insurance up front and getting less coverage.”

Feds Announce Program to Cut Debt of Underwater Homeowners (Washington Examiner) Excerpt: “Principal reductions will be available to borrowers whose loans are owned or guaranteed by Fannie or Freddie, have less than $250,000 in debt, are at least 90 days behind on payment and whose loan balances are at least 115 percent of the value of their home.”

International News

Venezuela: The Land of 500% Inflation (CNN Money) Excerpt: “Inflation in Venezuela is projected to increase 481% this year and by a staggering 1,642% next year….”

Personal Economics and Household Finance

Fake Irish Water Emails and Six Other Common Online Scams (The Irish Times) Excerpt: “It claimed Irish Water was performing annual account maintenance and needed more information from recipients, who were asked to follow links that would take them to a dodgy site. Although the utility being used as bait was new, the phishing scam is anything but.”

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