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The bill will retain significant cuts to spending on the Medicaid, the government-run health coverage program for the poor.
Italians living below the level of absolute poverty almost tripled over the last decade as the country went through a double-dip, record-long recession.
Afterall, with nearly $12 trillion held in deposit at U.S. commercial banks, each 25bps of foregone interest is costing depositors about $30 billion a year
    The Tripwire on the Next “Black Monday”
Jul 13, 2017 - 09:10:51 PDT
A similar stock market event today would spell a 4,724-point cataclysm.
    Revised Health Bill Has $70 Billion More for Exchanges
Jul 13, 2017 - 08:41:36 PDT
Senate Republicans’ revised proposal to replace Obamacare would provide an added $70 billion to stabilize insurance exchanges over a decade compared with an earlier version, according to a summary of the plan obtained by Bloomberg News.
    Rickards: Gold-To-GDP Ratios of Major Economies
Jul 13, 2017 - 08:10:27 PDT
Gold-to-GDP ratios of major economies: Russia 5.6%, Eurozone 3.6%, U.S. 1.8%, China 1.5% (est.). In the showdown, Putin wins.
Is This Where the ‘Smart Money' is Going in the Gold and Silver Space?
In this video Mike and Jeff discuss whats going on in Venezuela and its socialistic government and the results of it
    Illinois Still Is Kicking Pension Crisis down the Road
Jul 13, 2017 - 07:50:16 PDT
Illinois finally got a budget, but did not solve state’s biggest financial headache, its underfunded pensions.
    U.S. Financial Safety Nets Are Wearing Thin
Jul 13, 2017 - 07:13:23 PDT
The fragility of our financial buffers will only be revealed when they fail in the next crisis.
Janet Yellen, Chair of the Board of Governors of the Federal Reserve System, is returning to Capitol Hill to deliver the second part of her testimony before the Senate Banking Committee at 14 GMT. On Wednesday, in her statement before the House Financial Services Committee, Yellen reiterated the views from the June meeting and said that the Fed was planning to start shrinking its massive $4.5 trillion portfolio later this year, and the bank was on track to continue with gradual interest rate hikes.
Core PPI year-over-year, that the Fed watches: May 2.1%, Jun 2.0%. #Disinflation
This is the 3rd time in 5 years that Core PPI has managed just one month above The Fed's mandate and faded...
    Bank of Japan Faces Crunch Time
Jul 13, 2017 - 05:34:14 PDT
Rising global yields forced the Japanese central bank to rev up bond buying last Friday
ECB officials will detail their plan to begin the exit of QE at the meeting on September 7.
    Used-Car ‘Time Bomb’ on U.S. Auto Sales
Jul 13, 2017 - 05:16:29 PDT
The consultancy expects a total of more than 1 million vehicles to come off lease last year and this year, creating a “used-car time bomb”
Royal Bank of Scotland Group Plc agreed to pay $5.5 billion to settle the second of three major U.S. mortgage-backed securities probes the government-owned lender must overcome before it can fully return to the private sector.
    China's Five-Yearly Finance Meeting
Jul 13, 2017 - 05:11:23 PDT
There's going to be plenty to talk about.
A guide to how the UK will leave the European Union following the 23 June referendum vote.
Instead of selling his soybeans for devalued pesos, Gustavo Tione exchanged 30 tons of soy for about 8,000 liters of diesel from the state-run oil company. This is just one example of a growing barter economy in Argentina as a 24% inflation rate rapidly erodes the value of the country's currency.
As Bloomberg reports, the rise of barter is simple economics. Commodities hold their value better than than cash.
So, why bother with fiat currency if you don't have to?