BISMARCK, N.D. – A Bismarck girl says that a boy, who is now chief of police of the Bismarck Police Department, asked her for more than four decades back.

Photo courtesy: Dan Donlin

The debt was for a dollar and Darlene Olmsted never appeared to forget. She would joke about it every time Chief Dan Donlin was on TV.

After 44 decades of due her a dollar, Donlin paid her back.

“Paying back you the 1 dollar you loaned me when I was 10 years old running around terrorizing your neighborhoods,” read Olmsted off a letter Donlin wrote.

She’s the mother of 3 boys who used to ride bike and play basketball over four decades ago.

Mark, her son, told Donlin.

“Decided it was time for me to cover that 1 dollar debt so I can save Kent, Monte and Mark the hassle of her bringing up this at every family gathering. It was more an act of pity for Mark and the brothers,” explained Donlin.

Olmsted recalls the day.

“He was on his bicycle and he arrived and he asked if he could have a dollar and I said sure. He took off and that wasn’t it. He did not understand why he had the dollar he said he probably purchased candies,” said Olmsted.

But there is another concept.

“Probably to pay off the neighborhood kid to not beat up me,” Olmsted reads the letter off.

Donlin paid her back while she was bowling in late October.

“We hugged and I told her why I was there and before I could really get out she moves this is about the dollar,” explained Donlin.

“He paid me. Yes, I will say PLUS curiosity,” explained Olmsted.

Along with the dollar and the letter, she obtained a $ 20 gift card and a badge .

We did the math and Donlin paid her twice in interest for his debt.

If a dollar is compounded at 5% for 44 decades, the whole sum owed would be $8.78.

Donlin says at the close of the day she deserved it all for putting him up and all the neighborhood kids.


Late last year, congressional Republicans passed a $1.5 trillion tax cut, which presented the lion’s share of its benefits to the wealthy and corporations. The GOP did not warrant this policy on the grounds which all shareholders and trust-fund hipsters deserved to get their prosperity increased. Rather, the party argued that, nevertheless one felt about making the rich richer, the tax cuts would benefit all Americans by raising economic development and lowering unemployment.

However, what if we might have achieved those objectives, at about the exact same price and then wiping out every penny of student debt in the United States, instead?

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  • Global debt levels reach an unprecedented amount in the next quarter of 2017, according to the Institute of International Finance.
  • The IIF cautions that this listing debt burden will keep international central banks out of tightening monetary conditions in the forthcoming weeks.

Global debt soared to a record $233 trillion in the next quarter of 2017, as shown by a report from the Institute of International Finance.

That indicated a16.5 trillion — or 8% — grow from the end of 2016. In addition, it represented record highs in Canada, France, Hong Kong, Korea, Switzerland, and Turkey for personal sector debt.

1 side effect of the gigantic debt burden may be a reluctance from central banks to tighten lending states, says the IIF. They point out in the report which since a prolonged environment led to the of debt amounts banks might be unwilling to rock the ship.

“High debt levels could restrict the rate and scale of coverage tightening, together with central banks proceeding carefully in an effort to support expansion,” a bunch of IIF analysts directed by executive management manager Hung Tran wrote in the report.

Here’s a look at indebtedness, sorted by sector:

Screen Shot 2018 01 05 at 10.12.44 AMIIF, BIS, IMF, Haver

The IIF does notice, however, that the international ratio of debt-to-gross domestic product (GDP) fell for a fourth consecutive quarter. It now sits at 318 percent, and roughly three percent points lower than the record high.

“A mix of factors including synchronized above-potential international growth, increasing inflation (China, Turkey), and attempts to prevent a destabilizing build-up of debt (China, Canada) have all contributed to this decline,” wrote the IIF analysts.


Last week, score bureau DBRS raised a red flag when it calculated in the past decade average US wages have risen by just 5.7%, while consumer debt within exactly the exact same period rose 60 percent more, or 9.3%. However, while the US household’s reliance on debt to fill in the income gaps is barely news, on Monday JPMorgan found another, much more concerning debt inflection point: household debt, even fast as it might be rising, is about to be eclipsed for the first time ever by the faster rising national government debt.

As JPM writes in its weekly market recap, before the Financial Crisis, family debt relative to national government debt hit a minimum of 3 to 1 times. Ever since that time, the rise has been restricted by a mix of customer prudence and bank tightness together with liabilities growing 4% since 3Q 2008. But, JPM adds, “the exact same cannot be said of the national government, with liabilities increasing almost 150% over exactly the exact same span and nearly reaching household debt levels to the first time in modern history.”

In addition to this, the CBO projects that, even exceeding the impact of tax cuts, even authorities debt levels may continue to march up over the course of the next 10 years, ultimately hitting $25.5 trillion from the end of 2027.

While that doesn’t point to an impending catastrophe, it does mean that, should another downturn happen, the government would be far less able to come to the rescue because it did in 2008. It also suggests that although tax cuts can occur today, it becomes even more probable they’ll end up tax increases or spending cuts in the future, with tax increases likely to reach higher income families and older households being more vulnerable to spending cuts.

Ultimately, “this usually means that while consumers have taken steps in their accounts to guarantee a more compact debt burden, older and wealthier families ought to be especially cautious of the potential impact of rising government debt in their financing” especially once the next government – far more inclined to be of the “wealth redistribution persuasion” – decides to do precisely that. .


SAN FRANCISCO — Netflix is getting deeper because of its pursuit of audiences into debt, leaving the company margin for error as it tries to build the world’s biggest video subscription service.

The burden that Netflix is shouldering has never been a concern on Wall Street thus much, since CEO Reed Hastings’ strategy has been paying off.

The billions of dollars that Netflix has made to pay for exclusive series such as “House of Cards,”“Stranger Matters,” and “The Crown” has aided its support more than triple its worldwide audience during the previous four years — making it with 109 million subscribers worldwide throughout September.

That figure includes 5.3 million subscribers added through the July-September span, according to Netflix’s quarterly earnings report released Monday. The growth exceeded analyst projections and administration forecasts. Netflix’s stock climbed 1 percent in trading, placing it today to touch new highs. The shares have improved by roughly five-fold during the previous four decades.

In the event the subscribers keep coming in the pace, Netflix may surpass its role model — HBO. HBO began this year with 134 million subscribers.

However, Netflix’s subscriber growth can slow if it can not continue to acquire programming rights to hit TV show and films that there are competitors.

If that happens, there will be more focus on Netflix’s huge programming bills, and ” then we can observe a investor backlash,” CFRA Research analyst Tuna Amobi said. “However, Netflix has been providing great subscriber growth so far.”

Netflix’s long-term debt and other obligations totaled $21.9 billion as of Sept. 30, up from $16.8 billion in the identical period this past year. Including $17 billion for video programming, up from $14.4 billion a year ago.

The Los Gatos, Calif.-based firm has to borrow to pay for most of its own programming expenses since it doesn’t produce enough money on its own. Netflix burned through an additional $465 million in the latest quarter, which will be known as “negative cash flow” in accounting parlance.

For all this year, Netflix has cautioned that its adverse cash flow might be as high as $2.5 billion, a trend that management anticipates will continue for the next few decades as it tries to diversify its video library to appeal to divergent tastes in roughly 190 countries.

Nevertheless, Netflix has stayed prosperous, under U.S. accounting principles. The company earned $130 million about $3 billion in revenue in its most recent quarter.

And direction appears to be attempting to facilitate the fiscal drain with cost increases of 1 and $2 a month for the majority of its 53 million subscribers in the U.S. before the end of the year. The prices are likely to raise Netflix’s revenue by roughly $650 million RBC Capital Markets analyst Mark Mahaney predicted.

However, the cost increases may backfire something Netflix faced when it increased rates if it arouses an unusually significant number of subscribers to offset.

Analysts believe that is unlikely to occur this time, and that thesis was supported by Netflix . Management hopes to add 6.3 million subscribers during the October-December span, according to FactSet.