Submitted by Tyler Durden on 05/19/2016 14:48 -0400 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. The Affordable Care Act set up what is called a risk-corridor program to entice insurers to participate. Essentially the program limits the risk of loss an insurer can take due to its participation in the healthcare exchange by being reimbursed for part of the loss. The program works the other way asRead More →

The Clintons Earned $6.7 Million From Speeches In 2015; $55 Million Since 2013   While the US obssesses over the taxable Adjusted Gross Income of real-estate billionaire Donald Trump (and has to be content with his just released 104 personal financial statement posted here), another just as (if not more) important number was revealed in a financial disclosure form filed on Tuesday night by Hillary Clinton’s campaign.  Accordingly, Bill and Hillary Clinton have earned $6.7 million from paid speeches, aka a legal way to purchase influence, since the beginning of 2015, including $2.7 million from speeches the former president gave after his wife officially kickedRead More →

Are Property Taxes A “Wealth Tax” On The (Mostly) Non-Wealthy?   Submitted by Charles Hugh-Smith via OfTwoMinds blog, The fallacy in this assumption is that homeowners’ incomes do not automatically rise along with housing valuations. In my recent entry Dear Homeowner: If You’re Paying $260,000 in Property Taxes Over 20 Years, What Exactly Do You “Own”?, I questioned the consequences of high property taxes. Some readers wondered if I was saying all property taxes should be abolished. The short answer is no–what I was questioning is local government reliance on property taxes to the point that owning a home no longer makes financial sense becauseRead More →

Venezuelan apocalypse: Some updates on the epic failure of socialism in oil-rich Venezuela Mark J. Perry @Mark_J_Perry May 17, 2016 11:40 am Carpe Diem   Despite having more oil reserves than Saudi Arabia, and in fact more proven oil reserves than any country in the world (8 times more than the US), oil-rich Venezuela’s economy is imploding and collapsing under the burden of socialism, and economic conditions there have deteriorated so dramatically that they probably now qualify as the “economic apocalypse” that some left-leaning economists were predicting just a few years ago would never happen in Venezuela. Some links and updates about Venezuela’s economic apocalypseRead More →

Authored by Axel Merk via Merk Investments, Since the beginning of the year, the greenback has shown it’s not almighty after all; and gold – the barbarous relic as some have called it – may be en vogue again?Where are we going from here and what are the implications for investors? Like everything else, the value of currencies and gold is generally driven by supply and demand. A key driver (but not the only driver!) is the expectation of differences inreal interest rates. Note the words ‘perception’ and ‘real.’ Just like when valuing stocks, expectations of future earnings may be more important than actual earnings;Read More →