With so many American corporations on their sickbeds, it’s a good thing we have Obamacare. Almost all of the returns since 2009 have been due to stock share buybacks! Now buybacks are in decline.
Government as we know it is doomed. It will not recognize this reality until markets and/or citizens force it. This time is likely close and the process will not be painless. The more government ignores what is inevitable the greater the pain will be. One hopes that civilization does not enter an economic and anarchical Dark Ages. To the extent that government refuses to respond to the fantasy world they have created, the more likely that is to be the outcome.
Illinois state workers are the highest paid in the nation. Yet, despite the fact that Illinois is for all practical purposes insolvent, the AFSCME union demands four-year raises ranging from 11.5 to 29 percent, overtime after 37.5 hours of work per week, five weeks of vacation and enhanced health care coverage.
"I feel the burden of many new initiatives as they affect my company’s ability to operate profitably and to hire and retain employees. Many of these initiatives often have unforeseen consequences and cause small businesses additional expenses and burdens that can lead to less hiring, more expenses, and sometimes lead to businesses closing their doors."
In yet another development in the train wreck that is Obamacare, while we know that the legislation is failing individuals and businesses, the government is now failing to live up to its obligations made to the insurers who chose to participate in the healthcare exchanges. "All we're asking is for the federal government to do what they promised" said Highmark Health CEO David Holmberg.
With the Fed’s Lacker intimating there could be as many as four rate hikes this year, the already floundering small-business-economy could see an increase in SBA loan rates.
Sculpting Public Opinion From Birth To Death: "Schools & Media Complicit In The Destruction Of This Nation"Submitted by Tyler Durden on 05/18/2016 19:30 -0400
“We must start with the children – the seed corn – in order to grow them into what we wish.” -Adolf Hitler speaking in the Nuremburg Rallies
Not satisfied with economic distortions resulting from the redefinition of full-time employment to 30 hours for Obamacare purposes but 32 hours for every other purpose, President Obama is back at it. Today, by executive order, Obama doubled the threshold for overtime pay to $47,476 a year. The Labor Department estimates the ruling will affect 4.2 million workers.
“It’s a suicide mission,” said the Republican Party Chairman. The Romney-Kristol cabal is Hillary Clinton’s fifth column inside the Republican Party.
A McKinsey study shows Obamacare insurers lost money in 2014 and the losses doubled in 2015. Amazingly, the study concludes there’s nothing to worry about because “30 percent of insurers nationwide were profitable.” Meanwhile, outright refusals to accept Obamacare mount. “Sorry, We Don’t Take Obamacare” is now a frequent response.
Most Americans may not like to hear this, but the truth is that modern day America very closely resembles Nazi Germany. Most Americans were raised to deeply love this country; but likewise, most citizens of this nation know that something has gone deeply wrong, and we suggest that just like the Nazis, all of the pageantry and beauty in our society masks an evil which has grown to a level that is almost unspeakable. The truth is that all evil regimes eventually fall, and America is headed for a day of reckoning... And just like Nazi Germany, our end will be exceedingly terrible.
The difference between Trump and his critics is that he must believe there is a cost in printing too much money. Modern economists do not appear to grasp this basic concept.
With transition relief ending to the employer mandate for small businesses in 2016 (and their larger brethren in 2015 – though still classified as small businesses by the SBA) and the rise of employment costs, small businesses which account for ~70% of new private sector jobs and 50% of existing employment, are set to face a whole new level of costs.
While the 1998 Viagra "spike" came and went, in recent years, pharmaceutical preparation, i.e., drug prices have been soaring higher with every passing year, and according to today's PPI report, at the wholesale level, drug prices in April surged by 9.6% over the past year, the biggest increase since 1982 when excluding the Viagra outlier, and certainly the most in the 21st century.
Hillary Clinton's strategy to get in front of voters and answer one-on-one type questions is not working out very well. First, Clinton couldn't explain to an unemployed West Virginian why she was promising to put a lot of coal miners out of work. Now, Hillary can't explain why Obamacare fees are higher than promised, and are set to explode even higher next year.