CBO Blames Trump: Sees 20% Surge In 2018 Obamacare Premiums If Subsidies Removed

At the request of Nancy Pelosi, the Congressional Budget Office has just released a study intended to better understand the potential economic impacts that would result from the cancellation of taxpayer funded Obamacare subsidies (a.k.a. "cost-sharing reductions" or "CSRs").  Among other things finds that cutting CSRs would cause a 20% spike in Obamacare premiums in 2018 and result in a $194 billion increase in the deficit from 2017 through 2026.

China's $9 Trillion Shadow Banking System Shrinks For The First Time In 9 Months

For the first time in 9 months China's $9 trillion Shadow Banking Industry - defined as the sum of Trust Loans, Entrusted Loans and Undiscounted Bank Loans - contracted, which begs the question: will the biggest deleveraging ever attempted in Chinese history be smooth and contained, or lead to another financial crisis?

Orwell Or Kafka - Ken Rogoff's Crusade Against Cash Continues

"Harvard professor and chess grandmaster Kenneth Rogoff has said some pretty out there stuff before, in his role as self-appointed crusader against cash, but apparently he’s not done yet. In fact, he might just be getting started..."

Can The Permian Push Oil Prices Down To $40?

Two analyst firms have revised upwards their production growth forecasts for the Permian, expecting oil output there to be 300,000 bpd higher by the end of this year...That’s the kind of consensus market players like to see, especially when it comes a couple of days after reports that investors are pulling out from the Permian.

Spitznagel: Why Cryptocurrencies Will Never Be Safe Havens

"Cryptocurrencies are a very important development, and an enormous step in the direction toward the decentralization of monetary power. This has enormously positive potential, and I am a big cheerleader for their success. But caveat emptor - thinking that we are magically creating new stores-of-value and thus a new safe haven is a profound mistake."

The Fed Issues A Warning As Household Debt Hits New All Time High

“While relatively low, credit card delinquency flows climbed notably over the past year. This is occurring within the context of loosening lending standards... The current state can be an early indicator of future trends and we will closely monitor the degree to which this uptick is predictive of further consumer distress.”

Speculation Of Bannon's Demise Floods The Media, Again

Bannon's imminent demise has been predicted by the media on so many different occassions since Trump moved into the White House that we've lost count.  Here's another prediction from the New York Times.