28 May 2019

1) Some young people with outstanding student debts are moving abroad where cost of living is much lower and debt collectors have little to no powers. One former student has moved to a concrete house in India and now lives on $50 a month, while hoping to never again set foot in a Walmart. The strategy of abandoning America to avoid student loans is spreading via social media and the internet.

2) The crypto-currency Bitcoin nears $9,000 dollars as it breaks it highest level this year, but is still a long way from its 2017 high of $19,000 dollars. Other crypto-currencies are also up sharply , and with the renewed interest in the past few weeks, their prices are up over 140% this year. Other companies, including Facebook, are reportedly coming out with new crypto-currencies to offer consumers.

3) Democratic candidate Bernie Sanders, the 2020 party nomination for president, is proposing a plan to raise $2 trillion dollars by taxing Wall Street trading. The senator has introduced a bill that would tax trading of stocks, bonds and derivatives to raise between $776 billion and $2.4 trillion dollars over the next ten years. He would use this money to pay for his Medicare for all and free public college, which is the centerpiece for his presidential bid.

4) 27 MAY 19 Stock market closings:

Dow                25,585.69    up    95.22   
Nasdaq              7,637.01    up      8.73
S&P 500             2,826.06    up      3.82

10 Year Yield:    up   at    2.32%

Oil:    up   at    $59.24

9 May 2019

1) An experiment in four cities is giving four hundred mothers $4,000 dollars per year to test the effects that an infusion of money has on children. The study hopes to answer questions, for children in low income families, about the development of a child’s well being, how their brains work and their behavior.

2) China has promised retaliation if promised tariffs are imposed after mid-night this Thursday. President Trump is tweeting optimism over the coming deal with China, in contrast to China’s threats to retaliate for imposing any tariffs, leaving markets jittery over what may happen.

3) The Public Service Loan Forgiveness program is for relieving people of massive student loan obligations in exchange for working in professions of public service such as teaching, nursing or public-interest law. However the program is in disarray with more than 73,000 people having applied for debt forgiveness. The applicants are frustrated by the poorly written legislation, mismanagement by contractors to process application for forgiveness, and general apathy.

4) 8 MAY 19 Stock market closings:

Dow            25,967.33         up      2.24
Nasdaq         7,943.32    down    20.44
S&P 500        2,879.42    down      4.63

10 Year Yield:    up   at    2.48%

Oil:    down   at    $61.99