Florida

Just when you thought it couldn't get any worse for Obamacare, it gets worse.

The desire to take the American public out of the “of the people, by the people, for the people” business can minimally be traced back to the Vietnam War, to the moment when a citizen’s army began voting with its feet and antiwar sentiment grew to startling proportions not just on the home front, but inside a military in the field.  It was then that the high command began to fear the actual disintegration of the U.S. Army. From that moment on, the urge to demobilize the American people and send them to Disney World would only grow.

The 100 largest CEO retirement funds are worth a combined $4.9 billion. That’s equal to the entire retirement account savings of 41 percent of American families - more than 50 million families and more than 116 million people.

The bottom line: the gross profit from a "flip" in any of these 20 markets will result in an average profit of just over 102% in as little under 7 months. Good luck.

It's that time again. From 'jolted' Jeb to 'cool' Carly and from 'calm' Carson to 'turmoiling' Trump, for some of the GOP presidential nominee candidates, tonight could be the last hoorah in a campaign that has seen apolitical entrants dominate the mainstream Washington muppets. Moderated by John "I never met a Republican I didn't like" Harwood, we are sure there will be some tension as the "general health of the economy" planned focus may morph into any and everything as the debate pushes beyond two hours. Please watch responsibly...

Why is the deal particularly notable? Because Zell has traditionally had a very keen nose about such things as "market peaks": the 74 years old is credited with calling the top of the real-estate market in 2007, when he sold another of his companies, Equity Office Properties Trust, to Blackstone for $23 billion. Soon after, the commercial-property market crashed as prices fell and debt defaults surged when it became apparent that subprime was not contained.

Polling for the GOP presidential primary has begun to stretch even the most flexible limits of reality and credibility.

At a time when the US and China are practically at arms over the artificial islands in the South China Seas, with the US sending warships on location to patrol (despite White House Spokesman Josh Earnest saying on Oct. 8 that U.S. warships "should not provoke significant reaction from the Chinese") and a stunned China responding "What On Earth Makes Them Think We Will Tolerate This", the last thing we thought we would see right now was three Chinese warships about to port in Florida's Naval Station Mayport. And yet according to USNI that is precisely what is about to happen.

From the bowels of Australia’s iron ore mines to the top of Dubai’s pointless 100 story office towers, the entire warp and woof of the global economy has been distorted and bloated by the central bank money printing spree of the last two decades, led by the red credit machines of Beijing. Everywhere economies have succumbed to over-building, over-consumption, over-financialization and endless dangerous, unstable speculation. Stated differently, China’s red capitalism is the new black swan. There is nothing rational, stable or sustainable about it.

September was officially the warmest ever recorded around the globe (the 7th time this year a month has set a record) as El nino is back in a big way. As Bloomberg reports, its effects are just beginning in much of the world -- for the most part, it hasn’t really reached North America -- and yet it’s already shaping up potentially as one of the three strongest El Nino patterns since record-keeping began in 1950.  Expect "major disruptions, widespread droughts and floods," warned a senior scientist at the National Center for Atmospheric Research, adding that without preparation, "all kinds of mayhem will let loose." The last time there was an El Nino of similar magnitude to the current one, the record-setting event of 1997-1998, floods, fires, droughts and other calamities killed at least 30,000 people and caused $100 billion in damage.

America is not Greece, but judging from the Obama administration's just-unveiled plans to bailout Puerto Rico's disastrous debt situation, the American territory may have to sacrifice a little more sovereignty to get some relief. Obama is pressing for Congress to give Puerto Rico (PR) sweeping powers to reduce its $73 billion debt burden through a form of bankruptcy protection not now available to American territories and will also ask lawmakers to establish an independent body to monitor the island’s fiscal affairs (a la Troika).

Today’s task for the Republican establishment... Between now and March, they must settle on a candidate, hope his rivals get out of the race, defeat Trump in one of the first two contests, or effect his defeat by someone like Carson, then pray Trump will collapse like a house of cards. The improbabilities of accomplishing this grow by the week, and will soon start looking, increasingly, like an impossibility - absent the kind of celestial intervention that marked the career of the late Calvin Coolidge.

The Donald, crushing the hopes of the status quo, has extended his lead among GOP Primary voters with 25% of the support (up from 21% in September). However, the latest WSJ/NBC poll finds Ben Carson coming on strong with 22% support. Aside from Rubio (13%, up from 11%), and Jeb hovering at 8%, this leaves "the rest" of the crowd lagging horribly with Chris Christie, Rand Paul, Mike Huckabee, and John Kasich looking to go the way of 'the Walker'.