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38 3. Financial Hot Potatoes After years of central bank and government interventions and a financial coup detat that switched trillions in assets leaving the liabilities behind from Global 2.0 to Global 3.0 a highly centralized economy is show- ing more than a few distress signs. Negative Interest Rates In January the Bank of Japan followed European central banks and lowered its in- terest rates below zero. Market reports now indicate that approximately 8 to 10 trillion of European and Japanese sovereign bonds are trading at negative interest rates out to maturities of 10 years. Japans Negative Interest Rates Are Even Crazier Than They Sound Fed Scales Back Rate-Rise Forecasts as Global Risks Remain US Budget Hot Potato For the 20th year in a row the US govern- ment declined to produce audited financial statements as required by law let alone easy access disclosure to citizens for their Con- gressional district or local communities. The US budget hot potato is being pushed into 2017 after the presidential election. U.S. Governments Annual Financial Report Unable to Pass GAO Audit Financial Audit U.S. Governments Fis- cal Years 2015 and 2014 Consolidated Financial Statements Open Letter to My Congressman Pension Fund Hot Potato In a recent Solari Report Don Coxe said that the underfunding of pension funds would become the number 1 issue for the next US administration. The financial coup detat and negative interest rates have turned a problem into a serious crisis that will be- come apparent as the developed world con- tinues to age. Social Security Administration Benefi- ciaries Top 60000000 Californias pension debt puts it 175.1 Billion in the Red. The Theft of the American Pension Commodities Oil After crashing throughout 2015 the oil and commodities prices just kept falling. Imagine what life would have been like for consumers in the developed world without these declines Fossil fuel companies how- ever are hurting with the US coal compa- nies being driven literally into bankruptcy by US policies. BofA The Oil Crash Is Kicking Off One of the Largest Wealth Transfers in Human History Flows Equity market performance and merger and IPO volumes all signaled continued to slow down. The bright spot was the flow of funds into venture capital as the applica- tions of new technology continued to hold promise to improve productivity in the economy. 1st Quarter 2016 IPO Low Venture Capital Draw a Rush of New Money US and Global MA activity down 40 and 25 Private Equity Backed Buy-Out Deals Decrease Sharply in Q1 2016 II. News Stories Trends