Obamacare

"We screwed some folks..."

Following the biggest plunge in biotech stocks in 2015 - some have speculated that the real goal of Shkreli's actions was to profit by shorting the biotech sector ahead of the selling which his action would have unleashed - and an epic public outcry against the diminutive "hedge fund" manager, NBC reported moments ago that "the pharmaceutical company boss under fire for increasing the price of the drug Daraprim by more than 5,000 percent said Tuesday he will lower the cost of the life-saving medication."

“Unless we get up off our fat surpluses and recognize that television in the main is being used to distract, delude, amuse, and insulate us, then television and those who finance it, those who look at it, and those who work at it, may see a totally different picture too late.”

The economics of Hillary Clinton is first and foremost about expanding the power and scope of the US government, and as government gains more control, the more employers and business owners need to be in the good graces of American politicians. To be blunt, Clinton believes that people like herself can continually loot US businesses, with business owners paying their protection money without complain. After all, Hillary knows best; just ask her.

One of the more remarkable characteristics of American life is our passive acceptance of systems that are so obviously completely insane. Yes, I refer to our healthcare system, a.k.a. sickcare because in America sickness is profitable and health is not, and healthcare profiteering that would be the envy of pirates and warlords everywhere is the norm.

If anyone is still confused by the trigger that caused the biggest selloff in biotech stocks in 2015, here are the Taiwanese animators with "all you need to know."

Two weeks ago, when no one was talking about the possibility of a government shutdown, we warned it was coming. Today, as Politico reports, with very little time left to reach a deal, budget experts project a 75% chance of a shutdown. No matter how immaterial in terms of their economic impacts, government shutdowns create uncertainty and thus influence Fed decisions and as SocGen notes, with the odds of an October liftoff low, a government shutdown could lower them further. Although funding issues should be resolved by the December FOMC meeting, there is a small chance that the fiscal standoff extends into the end of the year (i.e. due to a temporary continuing resolution), creating another deterrent for the Fed.

The world is becoming increasingly chaotic and the American people are seeking a leader who can bring order, make tough decisions, and capture the zeitgeist of this moment in history. They are in search of a prophet generation (Boomer) Grey Champion, whose arrival marks the moment of darkness, adversity and peril as the Fourth Turning careens towards its climax. The Grey Champion doesn’t necessarily have to be a good person, but they must lead and display tremendous confidence in their cause and path. Franklin, Lincoln, and FDR have many detractors, but during their Fourth Turnings, they most certainly led, casting aside obstacles (sometimes illegally) and enduring dark days and bleak prospects for success. Is there someone of that stature ready to lead the American people now?

With tens of thousands of "lucky" Syrian immigrants due to arrive on American shores, it appears these hope-full refugeese may face life in the US is not as 'free' as they hoped. As AP reports, new government procedures have caused more than 400,000 current immigrants to lose healthcare coverage they received under Obamacare this year. The change in procedure shortens the timeframe during which foreign-born citizens can resolve eligibility issues, which has caused 423,000 people to lose their state-sponsored benefits - more than four times more than last year.

With Treasury Secretary Jack Lew sending a letter to Congress this evening demanding they raise the debt limit as soon as possible, warning that cash balances have dropped below the "minimum target," it is perhaps less than surprising that Goldman Sachs is warning that a government shutdown at the end of the month has become much more likely over the last several weeks. While out-months in VIX (beyond the prospective shutdown) remain elevated, Goldman finds a silver-lining claiming that the effect of a potential shutdown on financial markets and the real economy would probably be modest if it did occur. We shall see...

Many Republicans simply delude themselves that Trump is not a serious candidate who cannot, for some reason, get the nomination. We say, don’t underestimate his ego, which we know is and always has been enormous.

Economies around the world are in shambles. All central banks and banking systems are overextended. So too are political entities. The geo-political situation is worse than any time since World War II. The nature of politics is to kick the can down the road. We are nearly out of road. The scam is likely at its end regardless of what is tried. The piper is coming for what he is owed.

Scholars, commentators, and other public figures who defend liberty in some areas and authoritarianism in other areas - or combine a defense of economic or civil liberty with a defense of the warfare state - undermine the case for the liberties they claim to cherish. Restoring the link between economic liberty, civil liberty, and peace is a vital task for those seeking to restore a society of liberty, peace, and prosperity.

What happens when we roll back into the next official recession, unemployment soars, and consumers really stop spending? What is revealed when you look under the hood of this economic recovery is that it is a complete and utter fraud. The recovery is nothing but smoke and mirrors, buoyed by subprime auto debt, really subprime student loan debt, corporate stock buybacks, and Fed financed bubbles in stocks, real estate, and bonds. The four retailers listed below are nothing but zombies, kept alive by the Fed’s ZIRP and QE, as they stumble towards their ultimate deaths. The coming recession will be the knife through their skulls, putting them out of their misery.

The hard data runs completely counter to the uptick in GDP growth shown by Fed's models.