Archives for October 2013

Five Reasons Obamacare Legislation Failed; The Worst Legislation Money Can Buy; Putting the Patient in the Driver’s Seat

Courtesy of Mish. Here’s an exceptionally well written, on-target email from Claudette, an occupational therapist from Michigan, in response to my post Physical Therapist in NY Chimes in on Health Care Costs. Claudette wants to “Put the Patient in the Driver’s Seat“. Claudette writes … Hello Mish I do not disagree with the PT who […]

Elliott’s Singer On America’s “Insidious And Life-Draining” Dependency Culture

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Given our previous discussion of the "born-again" jobs scam, the growing use of robots, and shift in technology, and the increasing disincentivization (via benefits) of the US labor force, Paul Singer's detailed discussion below of the"serious dysfunction" in the US employment markets is crucial […]

First fall in US manufacturing output since 2009 as the Eurozone pulls ahead

First fall in US manufacturing output since 2009 as the Eurozone pulls ahead Courtesy of SoberLook.com The US government's dysfunction that created tremendous uncertainty recently is now filtering through the economy. The impact on manufacturing is already visible, as the output of US factories takes a dive in October.   Chris Williamson (Chief Economist)/Markit: – The […]

BNP Warns “You Can Never Leave” From The Fed’s “Hotel California”

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. Via BNP's Paul Mortimer-Lee, In the 1977 Eagles song, Hotel California, a luxury hotel appears inviting and offers a tired traveller comforting relief from his journey. It turns out to be something of a nightmare, however, and he finds that "you can check out […]

GROSS: I Got Rich At The Expense Of The Less Well-Off And Now I Feel Guilty

BOND BILLIONAIRE BILL GROSS: I Got Rich At The Expense Of The Less Well-Off And Now I Feel Guilty Courtesy of SAM RO, Business Insider Bill Gross' latest monthly PIMCO Investment Outlook is out, and it spends some time discussing the massive wealth disparity in America. "Having gotten rich at the expense of labor, the guilt sets in and […]

Has the Great Recession created behavioral changes in the labor markets?

Has the Great Recession created behavioral changes in the labor markets? Courtesy of SoberLook The US civilian unemployment rate, which clocked at 7.2% last month, has been declining at the fastest rate in nearly two decades. The focus however has been on other labor market indicators. One of those is the employment-population ratio, the proportion of […]

The meager 1.6% GDP growth in 2013 is partially self-inflicted

The meager 1.6% GDP growth in 2013 is partially self-inflicted Courtesy of SoberLook More evidence is emerging that the US economic activity has slowed recently. In addition to the manufacturing output decline (see Twitter chart) and slower home sales (chart), the latest private payrolls number from ADP now shows a decline in job creation.   Source: […]

Sense on Cents Housekeeping: New Comment System

Courtesy of Larry Doyle. Sense on Cents will be implementing a new comment system in the next day or so. Disqus is an application used on many websites, so I’m sure it will look familiar to many of you. It will add functionality to the comments, and hopefully generate greater interaction for our readers. Posting comments, […]

Today’s Reads

By Ilene (Also posted at a new site, in Beta-Testing, visit: Talk Markets) Reasearchers at Oregon Health & Science University’s Knight Cancer Institute stopped a double blind study of a new drug for prostate cancer. Patients in the placebo group were switched to the real drug, Enzalutamide, because the results were so impressive. Enzalutamide is hormone-based pill which causes very few side effects. Look out Dendreon. (OHSU develops promising […]

Instability Starts On The Margins

Courtesy of Chales Hugh-Smith of OfTwoMinds   What is the prudent response when hefty profits beg to be booked and assets purchased with leverage/debt start declining? Sell, sell, sell. Many analysts have described the core-periphery dynamic: instability tends to manifest first in the periphery and then move inexorably to the core. Social and economic changes work […]

Hollande’s Tax Everything Plan Blows Sky High With Riots by Farmers; Hollande Backs Down on Ecotax, on a Tax on Savings, On Corporate Earnings; Something For Nothing

Courtesy of Mish. President Francois Hollande wants to balance the French deficit by taxing the rich, taxing the poor, taxing trucks, raising the VAT, and increasing the tax on corporations. That policy blew sky high this week in a storm of riots by Brittany farmers. Please consider French Gov’t Backs down on Truck Tax After […]

Claims Data Affirms That Government Shout Down Had No Lasting Impact, But Stocks Still Dangerously Extended

Courtesy of Lee Adler of the Wall Street Examiner First time unemployment claims essentially met expectations this week as ‘conomists had one of their rare correct guesses. But I should not be so hard on the ‘conomist crowd. The seasonal adjustment factor applied to the comparable week of the year over the prior 10 years […]

G.O.P. UNVEILS OWN HEALTH-CARE WEB SITE, EMERGENCYROOM.GOV

By Andy Borowitz at The New Yorker WASHINGTON (The Borowitz Report)—Saying that “the American people are fed up with a disastrous Web site that doesn’t work and never will,” House Majority Leader Eric Cantor (R-Virginia) and a phalanx of congressional Republicans today unveiled their own health-care Web site, EmergencyRoom.gov. […] The Virginia Republican wasted no […]

Lessons from the Madoff Account Statements

Courtesy of Pam Martens. Millions of Americans, if not most Americans, have no idea how to go about checking their investment statements for accuracy and to protect against fraud. In that respect, Bernard L. Madoff might render a service to the country – if we pay close attention. To veterans of Wall Street who handle […]

Obamacare Trojan Horse: Is White House Muzzling Insurance Companies?

Courtesy of Larry Doyle. Classics scholars are familiar with Virgil’s legendary warning, “Timeo Danaos et dona ferentes,” i.e. “Beware of Greeks bearing gifts.” Just as the Greeks on the mainland would have been well served to be leery of what the Trojans were hiding in their “gift,” the American public may also want to be very […]

How Can We Have Record Bad Loans And Record Excess Liquidity At The Same Time?

Courtesy of The Automatic Earth. Dorothea Lange Trunk Show February 1936 "Dust Bowl drought refugees in California" We can read these days that Spain has come out of its recession. The Bank of Spain reported last week that GDP expanded by 0.1% in Q3. But in a country with 26% unemployment and 55% youth unemployment, […]

G.O.P. UNVEILS OWN HEALTH-CARE WEB SITE, EMERGENCYROOM.GOV

By Andy Borowitz at The New Yorker WASHINGTON (The Borowitz Report)—Saying that “the American people are fed up with a disastrous Web site that doesn’t work and never will,” House Majority Leader Eric Cantor (R-Virginia) and a phalanx of congressional Republicans today unveiled their own health-care Web site, EmergencyRoom.gov. […] The Virginia Republican wasted no time […]

Obamacare: Winners, Losers and Politics

This was another post that messed up the home page possibly because I removed an image while removing part of the original post. I’m going to try posting again. The comments are now pasted at the bottom of the post. There’s a chance that this post will also cause problems with the home page in […]

Physical Therapist in NY Chimes in on Health Care Costs

Courtesy of Mish. Reader “Chris”, a physical therapist in private practice in New York, pinged me about Obamacare and rising health care costs in general. Chris writes …. Hello Mish I wanted to comment on your recent posts regarding Obamacare. Most of the criticism from you, and others, has focused on the issues and difficulties […]

Scathing Attack on Rajoy in Spanish Press; Spain on Brink of Deflation, CPI Goes Negative

Courtesy of Mish. Spain’s CPI has declined for four consecutive months and eight out of the last twelve. A decline of .4 percentage points in October pushed the CPI negative for the first time since 2009. Via translation from El Economista The Consumer Price Index (CPI) fell four tenths of a percent in October to […]

Understanding Europe’s Delusion, Dilemma, and Endgame in Under 9 Minutes

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. If one watches (or reads) any of the mainstream media, it might seem 'obvious' that Europe is doing well; it's recovering; and the crisis is over (almost over..). However, as Punk Economic's David McWilliams explains in this excellent overview of the European delusion and […]

10 Signs That Obamacare Will Wreck The U.S. Economy

Courtesy of Michael Snyder of The Economic Collapse It is hard to find the words to adequately describe how much of a disaster Obamacare is turning out to be.  The debut of Healthcare.gov has been probably the worst launch of a major website in history, millions of Americans are having their current health insurance policies canceled, […]

12 or 13 Things I Learned About Life From Daytrading Millions of Dollars

12 or 13 Things I Learned About Life From Daytrading Millions of Dollars By James Altucher I was a daytrader for many years and it almost killed me. I made money by making profits on my own money and also taking a percentage of the profits for the people I traded for. I traded up to […]

How the NSA Hacked Google and Yahoo! – Part Two – Man in the Middle – “Flying Pigs”, “Hush Puppy”

Courtesy of Mish. In response to NSA Breaks Into Secure Communication Links of Google and Yahoo I received a few comments worth exploring. Reader “Fury” commented “True encryption using the RSA algorithm is unbreakable today. No way can the NSA break the prime number encryption that is used, I don’t care how many supercomputers they […]