What Could Possibly Go Wrong

Aetna withdraws from Maryland Obamacare exchange after state demands lower rates

"Aetna Inc pulled out of Maryland’s health insurance exchange being created under President Barack Obama’s healthcare reform law after the state pressed it to lower its proposed rates by up to 29 percent. Each U.S. state will have an online exchange where Americans will be able to buy insurance plans, starting on October 1. The government is counting on about 7 million people to enroll next year for this insurance, many of whom will qualify for subsidies. According to online documents, Aetna had requested an average monthly premium of $394 a month for one of its plans and the agency had approved an average rate of $281 per month." Continue reading →

Continue ReadingAetna withdraws from Maryland Obamacare exchange after state demands lower rates

Archived papers reveal Queen Elizabeth’s ‘World War Three’ speech

"Relations between the Soviet Union and the West had become so tense 30 years ago that British officials drew up a speech for Queen Elizabeth to deliver to the nation in the event of a nuclear war, newly released archives showed on Thursday. In the speech, the monarch was to urge Britons to remain united and resolute in the face of the 'madness of war.' Written by government officials, the hypothetical speech was part of a secret exercise designed to prepare Britain for the threat of a possible World War Three, but was never broadcast." Continue reading →

Continue ReadingArchived papers reveal Queen Elizabeth’s ‘World War Three’ speech

Pennsylvania police chief suspended over profanity-laced, anti-liberal gun videos

"The Pennsylvania police chief who made a profanity-laced videos while firing machine guns and ranting about liberals has been suspended without pay for 30 days. After a 55-minute executive session, the Gilberton Borough Council voted 5-1 on Wednesday to suspend Chief Mark Kessler for using 'borough property for non-borough purposes without prior borough permission' by using machine guns and other weapons in his YouTube videos. Kessler had donated the weapons to the borough earlier in the year. In online videos, Kessler had used profanity to berate 'libtards' and suggested an armed rebellion against the government." Continue reading →

Continue ReadingPennsylvania police chief suspended over profanity-laced, anti-liberal gun videos

Top Federal Reserve economist slams ‘incoherent’ European Central Bank

"A paper by the Richmond Fed said the ECB is hamstrung by institutional problems and acts on the mistaken premise that excess debt is the cause of the eurozone crisis when the real cause is the collapse of growth. 'The ECB lacks a coherent strategy for creating the monetary base required to sustain the money creation necessary for a growing economy,' said the paper, written in July by Robert Hetzel, the bank’s senior economist. It called for direct action to buy 'bundles' of small business loans, as well as 'packages of government debt' across EMU states, including German Bunds." Continue reading →

Continue ReadingTop Federal Reserve economist slams ‘incoherent’ European Central Bank

India Pledges Rupee Action as Currency Nears Fresh Low

"On Tuesday, traders were rattled after Subbarao said the central bank would return to a pro-growth monetary stance only once the currency stabilised. Separately, Finance Minister P. Chidambaram said the government was looking into liberalising foreign direct investment rules, attracting funds from non-resident Indians and clamping down on the import of non-essential items such as electronics. 'There's no rocket science in manufacturing basic electronic hardware ... So we can manufacture electronic hardware goods here,' he told a news conference in New Delhi." Continue reading →

Continue ReadingIndia Pledges Rupee Action as Currency Nears Fresh Low

Mexican cartels hiring US soldiers as hit men

"Mexican cartels are recruiting hit men from the U.S. military, offering big money to highly-trained soldiers to carry out contract killings and potentially share their skills with gangsters south of the border. The involvement of three American soldiers in separate incidents underscore a problem the U.S. military has fought hard to address. Using American servicemen could make it easier to carry out a murder in the U.S. since they can more easily move across the border. And the lure of quick money has proven tempting for theses soldiers given the dismal military pay scale." Continue reading →

Continue ReadingMexican cartels hiring US soldiers as hit men

In U.S., Fewer Young Adults Holding Full-Time Jobs in 2013

"The barriers for the young getting a job in the U.S. remain high. Given ever growing regulations on employers, coupled with the uncertainty of Obamacare, it just makes it to risky for most employers to be aggressively hiring. Fewer Americans aged 18 to 29 worked full time for an employer in June 2013 (43.6%) than did so in June 2012 (47.0%), according to Gallup's Payroll to Population employment rate. The P2P rate for young adults is also down from 45.8% in June 2011 and 46.3% in June 2010." Continue reading →

Continue ReadingIn U.S., Fewer Young Adults Holding Full-Time Jobs in 2013

Brawl breaks out in Taiwanese legislature over planned nuclear plant

"Taiwanese lawmakers hurled water and wrestled each other to the floor of the island’s parliament Friday in a brawl which broke out during a debate on the fate of a controversial nuclear plant. Dozens of lawmakers from opposing camps clashed as they tried to seize the chamber’s podium and splashed water from cups and plastic bottles at each other. Two scuffling lawmakers from opposing parties fell onto the floor before they were pulled apart by others in footage broadcast live on television. The fourth nuclear plant is about 90 percent complete and due to come online in 2015, according to its operator the state-owned Taiwan Power Company (Taipower)." Continue reading →

Continue ReadingBrawl breaks out in Taiwanese legislature over planned nuclear plant

American Automobile Glut? Unsold Cars Are Piling Up

"There are some signs automakers might be stepping on the gas a little too hard. Some 3.27 million new cars are now sitting on lots across the U.S., more than there have been in almost five years, according to Automotive News. That’s a lot of cars—just enough to equip every man, woman, and child in the state of Iowa with a new vehicle. A year ago at this time, by contrast, there were 2.7 million vehicles lying in wait across the country; summer 2011 saw an inventory of about 1 million fewer cars. Looking for a deal on a vehicle in the next month or two? Dealership lots that stock American automakers appear to be ripe for bargain seekers." Continue reading →

Continue ReadingAmerican Automobile Glut? Unsold Cars Are Piling Up

Four False Assumptions That Can Kill Your Portfolio

"It’s been so long since interest rates had a real 'up' cycle that Wall Street — and many average investors — have forgotten what that even looks like. Four toxic interest-rate assumptions have the potential to kill your portfolio: First, Wall Street thinks the Federal Reserve can control all interest rates with a few words or the wave of a monetary wand. Second, Wall Street thinks that when interest rates go up, it’s always a slow and gentle climb. Third, Wall Street thinks that rising interest rates are solely a consequence of an improving economy and nothing else. And fourth, Wall Street thinks that because of that, the impact will be benign." Continue reading →

Continue ReadingFour False Assumptions That Can Kill Your Portfolio