Because, nothing else matters...
Less than two weeks after Apple unveiledan unexpected $1 billion investment in China's Didi Chuxing, an amount some have speculated may be the cost of continuing "business as usual" for Apple's service offerings in China, moments ago Toyota unveiled that it would inject an undisclosed amount of funds in one of the most valuable private "Decacorns" in the US, Uber.
Six years ago, President Barack Obama signed the Patient Protection and Affordable Care Act into law. Since then, Americans have seen their premiums increase, a dozen nonprofit insurers have closed their doors and the number of people on the Medicaid rolls has expanded. Americans nationwide have both praised and cursed the law since the federal and state-run exchanges launched in October 2013. Here are five graphs charting Obamacare’s six-year history...
"I don't think he realizes the damage he's doing at this point..."
"The US have engaged in a lot of hue and cry over Iran’s missile capabilities, but they should know that this ballyhoo does not have any influence and they cannot do a damn thing. The US and other powers are extremely sad at this issue and they have no other option; that is why they made huge efforts in order to bring the country’s decision-making and decision-taking centers under their control, but they failed and God willing, they will continue to fail."
With stocks soaring on the heels of oil's miraculous resurrection, the new normal narrative appears to be that higher oil prices are now "unequivocally good." However, one glance at the following two charts and it's clear Main Street feels anything like ebulient about the state of the oil industry in America...
Negative interest rates are all the rage at central banks, a symptom of the deflation that is slowing spreading worldwide. Explicit or not, negative rates have odd and counterintuitive consequences. Imagine the entire banking system trying to stand on its head, and that's kind of how a deflationary, NIRP-driven world will look. Here are three early signs.
While 4 is more than 2, recall that on November 24, one month before the Fed did hike rates by 25 bps, a whopping 9 regional Fed requested a Discount Rate hike: that took place less than a month before the Fed's first rate hike in nearly a decade. With only four regional Feds on the same page as of this moment, it is very unlikely that June is when the Fed's rate hike will take place, and with July missing a press conference, it remains to be seen just how the Fed can proceeds with the much touted rate hike in the coming 2 months.
When we warned recently that thanks to Obamacare, insurance companies would be unveiling significant price shocks one week before the presidential elections, we knew it was only a matter of time before the 2017 proposals would start to be released and double digit increases would be unveiled to the public. Sure enough, we were proven right when the first two states to release proposals, Oregon and Virginia, showed that insurers were indeed asking for significant double digit increases. Now, another state has made the 2017 proposals public, and the results aren't any better. In New York, health insurers have proposed an average 17.3 percent increase for individuals, and an average 12 percent increase for small groups.
Republican Kevin Cramer from North Dakota is cosponsoring a bipartisan bill that will set up a commission to probe whether OPEC has used unfair means to bolster its dominance over the market and propose possible remedies on the grounds that the matter is important from a national security standpoint, reports the Financial Times. Though similar efforts in the past against OPEC have been ineffective, another cosponsor, Republican Trent Franks, is optimistic about the outcome this time around. “If our bill does nothing more than to raise this question on to the agendas of business leaders and policymakers . . . it will have achieved something,” he said.
The last time the US Treasury had a solid 2Y auction the paper was trading very special in repo, suggesting a major short squeeze was inevitable, and that is precisely what happened. However, there was no explanation why today's just concluded sale of $26 billion in 2 year paper was as blisteringly hot as it was.
Hacker Who Got Inside Hillary Clinton's Server Said To Cooperate Fully With Ongoing Email InvestigationSubmitted by Tyler Durden on 05/24/2016 - 12:47
In the latest twist involving Hilllary Clinton's email saga, Romanian hacker Guccifer is now expected to plead guilty this week, clearing the way for his unfettered cooperation with federal prosecutors, suggesting that all of his heretofore unverified claims about hacking into Hillary's server will be duly investigated. If confirmed, this could open a new chapter in the FBI's criminal probe into Hillary's email use and/or abuse.
We didn’t do anything wrong, but we’ll stop doing it.
French police used water cannons and tear gas to break up a picket that was blocking access to a large oil refinery in the southern port area of Marseille, as Prime Minister Manuel Valls told the unions that "enough is enough." Valls went on to say that if labor unions continue to picket and disrupt fuel supplies, that they would be dealt with "extremely firmly."