Hard hitting global and local news
Originally posted here: Hussman’s Open Letter to the Fed; The Problem with Bubbles; Textbook Pre-Crash Bubble; Reflections on Not Chasing…
See more here: Majority in U.S. Say Healthcare Not Government’s Responsibility
See more here: Nearly Retired? Facing a Huge Increase in Healthcare Costs? More on "Opting Out" of Obamacare
The European budget debate stepped up a notch today as Italy, Spain Warned on Budget . After Italy rebuffed warnings about its budget, euro-area finance ministers late Friday agreed to give the country additional opportunities to show it can make savings and bolster revenue.
Read this article: Expect "Dramatic Slowdown" in Germany: Saxo Bank Analysis
Eurozone Flash PMI Shows Slight Growth, France Back in Contraction The rosy eurozone growth estimates of a few months ago have bitten the dust already with the possible exception of Germany. The Markit Flash Eurozone PMI signals slowing growth for second successive month in November, with France leading the way. Flash Eurozone PMI Composite Output Index at 51.5 (51.9 in October)
See original article: JPMorgan’s $13 Billion "No Admission of Wrongdoing" Settlement (and a $7 Billion Tax Deduction)
CNBC reports Obamacare bombshell: IT official says HealthCare.gov needs payment feature Another day, another big, bad black eye for HealthCare.gov. A crucial system for making payments to insurers from people who enroll in that federal Obamacare marketplace has yet to be built, a senior government IT official admitted Tuesday.
More: No Money to Retire the New American Nightmare; Retirement at 80 the New Norm?
57,730 Washington State Obamacare Sign-Ups, 51,368 of Them for Medicaid; Obamashock Theory and Practice It is quite amazing as to what state and federal officials tout as Obamacare "success" stories. For example, in the state of Washington, of the 57,730 who have signed up, a whopping 51,368 were for "free" Medicaid services. Given that Medicaid is jointly funded by the state and federal government, this is bound to put a hole in the state budget