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There Is No Asset Bubble?

Does an asset bubble currently exist? Ask anyone and they will tell you “NO.” However, maybe it is exactly that tacit denial which might just be an indication of its existence.

Aetna Posts $300 Million Obamacare Loss, Warns May Exit Altogether

After every other major US health insurance provider admitted to generating substantial losses on Obamcare, earlier today Aetna became the latest to report that its annual loss on Obamacare plans would be more than $300 million. More ominously, Aetna joined the biggest US health insurer UnitedHealth in reviewing how, if at all, it would continue providing ACA services in the 15 states it's currently in.

NY Fed Finds 15% Of Americans Have Negative Net Worth; Student Loans Contibute To Record US Wealth Inequality

"There has been much discussion about the growth in wealth inequality over the past three decades. Given the importance of student debt in explaining negative household wealth, it is likely that the steady growth in student debt and borrowing, combined with the very slow rate of student loan repayment we have documented elsewhere, has materially contributed and will continue to contribute to negative household wealth and wealth inequality"

US Launches Air Strikes Against ISIS Targets In LIbya

In what comes as the most expected geopolitical development in recent years, moments ago the United States announced that it had launched multiple airstrikes against Islamic State militants in Libya on Monday, opening a new, more persistent front against the group at the request of the United Nations-backed government, Libyan and U.S. officials said.

Whistleblower's Stunning Claim: "NSA Has All Of Hillary's Deleted Emails, It May Be The Leak"

"If the FBI really wanted them they can go into that database and get them right now,” William Binney said of Clinton’s emails as well as DNC emails. Asked point blank if he believed the NSA has copies of “all” of Clinton’s emails, including the deleted correspondence, Binney confirmed. “Yes. That would be my point. They have them all and the FBI can get them right there.”

Trump's Response To Parents Of Killed Muslim Soldier: "Hillary Voted For The Iraq War, Not Me!"

"Hillary Clinton should be held accountable for her central role in destabilizing the Middle East. She voted to send the United States to war against Iraq, helped lead the disastrous withdrawal of American troops years later that created the vacuum allowing the rise of ISIS, and has never met a regime change she didn’t like (which have all been disasters) – not to mention her invasion of Libya and her abandonment of American personnel in Benghazi."

The Good, The Bad, & The Great Of Donald Trump's Candidacy

"Donald Trump’s overwhelming virtue is that he is not Hillary Clinton and does not carry a bulging 30-year old bag of bad ideas. Hillary’s ideas—–and those of the establishment for which she shills——about how to fix the coming economic and foreign policy crises, in fact, are so unequivocally and irremediably bad that it is not possible that there is anything worse."

Rahm Emanuel Says Chicago Pension Crisis "Improving", Facts Show He Is Lying

Fridays in the summer are a great day to dump news you don’t want scrutinized, as reporters will tell you. Chicago Mayor Rahm Emanuel just dropped some propaganda, bragging about balancing the Chicago budget and fixing the city’s pension plans. While Reuters' Dave McKinney took the lies hook, line, and sinker; the facts behind the lies can be summarized thus: "the kicked can is not included."

DoD Admits US Global Hegemony Threatened By China, Russia In "Persistently Disordered World"

"Rising powers including for example, China, Russia, India, Iran, or Brazil have increasingly expressed dissatisfaction with their roles, access, and authorities within the current international system... The future world order will see a number of states with the political will, economic capacity, and military capabilities to compel change at the expense of others..."

What Alan Greenspan Is Most Worried About

"... it's very difficult to see where the next step is except what I'm concerned about mostly, is stag-flation, meaning I think we're seeing the very early signs of inflation beginning finally to pick up as the issue of deflation fades.... we're in a situation now where looking at the interest rate levels that we're looking at and the inflation rates we're looking at, it's very clear that we're going to be moving reasonably shortly into a wholly different phase."

US Admits It "Found A Problem" In Calculation Of GDP

For years we have complained against both the BLS' and the BEA's comical seasonal adjustments, which "serve" just one purpose: to goalseek the data to a desired, politically-mandated outcome, and which culminated last May when the Department of Commerce announced it would seasonally adjust last year's woeful Q1 GDP data not once but twice in order to get a better result.  Now, it appears that there indeed was a problem.