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April 27, 2018 - pt2

Friday, April 27, 2018

APRIL 27/GOLD RISES BY $5.90 TO $1322.40 BUT SILVER DROPS 5 CENTS TO $16.47/ RECORD NUMBER OF EFP’S ISSUED FOR SILVER: 75,878 CONTRACTS FOR 379 MILLION OZ/NORTH AND SOUTH KOREA SIGN HISTORIC AGREEMENT/ GREAT BRITAIN RECORDS A POOR GDP REPORT AND THIS CAUSES THE POUND TO BE CRUSHED/MORE SWAMP STORIES FOR YOU TONIGHT/

 
Stocks were wobbly today but not dramatically so.  Gold and silver managed to take a little back from their recent losses as the Dollar backed off sharply from its intraday high.  There will be an FOMC meeting next week. There is about a 35% probability of a rate hike at this meeting. We will have to watch the early economic data in the week, especially the PCE, to see if that probability might move a bit.  And on Friday there will be the April Non-Farm Payrolls Report.  Have a pleasant weekend  http://jessescrossroadscafe.blogspot.com/2018/04 

 

The Pension Crisis Is Worse Than You Think by Lance Roberts

“Today, the hard stop is five to 10 years away, within the career plans of current officials.  In the next decade, and probably within five years, some large states are going to face insolvency due to pensions, absent major changes.  If we extrapolate from the past, rather than use promises in the state budget, current employees plus the state will contribute about $25 billion over those seven years, which could provide another few years before the till is empty. But it will also add around $60 billion of future liabilities to current employees.The system probably breaks down before the pension fund gets to zero, for example if assets were to fall below $30 billion while projected future liabilities exceeded $300 billion. Even the most optimistic people would have to admit the situation is unsustainable. This could happen in three years in a bad stock market, or perhaps 10 with good stock returns. But fund assets are so low relative to payouts that good returns aren’t that helpful.

The next phase of public pension reform will likely be touched off by a stock market decline that creates the real possibility of at least one state fund running out of cash within a couple of years. The math says that tax increases and spending cuts cannot do much.“  But the problem is not just in the United States, but the mismanagement of assets combined with irrational and flawed return expectations has spread globally. Visual Capitalist recently took a look at the global pension problem stating:  “According to an analysis by the World Economic Forum (WEF), there was a combined retirement savings gap in excess of $70 trillion in 2015, spread between eight major economies…  The WEF says the deficit is growing by $28 billion every 24 hours – and if nothing is done to slow the growth rate, the deficit will reach $400 trillion by 2050, or about five times the size of the global economy today.....  http://realinvestmentadvice.com/the-pension-crisis-is-worse-than-you-think/ 

 

Greg Hunter Weekly News Wrap-Up 4.27.18

https://www.youtube.com/watch?time_continue=158&v=7B7UxSCwlCE 

 

Macron: The Last Multilateralist

Macron belongs to a political class that sees open borders and free trade thickening and tightening the ties of dependency, and eventually creating a One Europe, whose destiny his crowd will forever control.

 

Only 7% of refugees in Greece’s largest refugee camp are women and children

While the media and NGOs have heavily focused their reports on the plight women and children, they failed to mention why Greece could have good reasons to keep the camp isolated.  There are 162 unaccompanied children and 216 women in the Moria refugee camp; the total population of the camp is 5,206. (Statistics of Iefimerida)  Those statistics mean that 92,8% of the camps inhabitants are men, who probably left their women and children behind in violent, war-torn countries, or may be motivated by other reasons to come to Europe.  According to Iefimerida around 50 nationalities live in the camp... http://12160.info/page/only-7-of-refugee 

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