By Aruna Viswanatha and Anna Yukhananov
WASHINGTON | Sun Oct 27, 2013 12:50pm EDT
Reuters reports -
Insiders who worked on US health website describe high stress, complaints about major problems – AP 10/22/2013.Submitted by Old and Gray on Tue, 10/22/2013 - 14:51
From The Newser website comes the above referenced article.
From a family member comes this supplementation a week ago -
Only one out of 297 applicants was accepted by the computer in an early try here in Florida, and, the response was inadequate. The complaints -
- Not enough information provided to form a decision, and,
- Neither Doctor’s offices nor insurance companies are equipped to respond to queries on the new insurance at this time.
In such a confused situation a large segment of uninformed, helpless people will be victimized.
In a copyrighted article by Rodrigo Campos and Julia Edwards appearing on Reuters
some astute observations are advanced.
First, the default/debt ceiling cliff-hanger has been sidestepped temporarily by passing it along to someone else to resolve.
JPMorgan posts first quarterly loss under Dimon From The Chicago Tribune Oct 11, 2013.
This year profit would have been $5.82 bn.
Legal expenses are $9.2 bn - $7.2 bn after taxes.
Additionally, the Q3 loss reported is $380 million.
generating the alleged violations are:
- bribery paid in the form of JPM hiring offspring of Chinese execs of Chinese state firms;
- fraudulent sales of mortgage securities; and,
- fixing interest rates.
The next significant milestone study along that timeline was delivered courtesy of a French Economist, Josef Clement Juglar (1819-1905) with two editions of his study: the first, 1860; the second, 1889.
Reuters, as usual, pointed out a series of concerns today.
The UK, through its super prosecuting agency, the Serious Fraud Office, has a new line-up of suspects which supports the reasonable suspicion that the conspiracy was more than a one or two man job.
Today's global political and economic balance beams have good and bad:
The government shutdown will continue to test the US Economy adding to the problems of jobs and suspect bank stability.
The American economy has shed 347,000 jobs over the past two months, roughly comparable with the rate of loss seen during the Great Recession. It is remarkable that the US Federal Reserve should even have been thinking of phasing out life-support in such circumstances.
Pros and cons of Obama's choice for the Fed's Chairmanship reveal too much about either the man presiding over the choice or those behind-the-scene powers forcing the choice.
Adam Smith set the limits of early economic study with his title, "The Wealth of Nations". It stimulated the interest of wealthy intellectuals who then proceeded to expand and refine Smith's basic provisions for the "new science". "Wealthy intellectuals" is advisable in view of the comfort of people like Richard Cantillon and David Ricardo, who acquired tens of millions then retired to a life of contemplation and intellectual endeavors. Their study was centered on Wealth, not fiscal policy, welfare of a nation, or the success or failure of menials.
There's always more than one way to boost confidence in the economy to prove that business is improving if not booming. The Dow has reverted to a tested and proven formula - replace the under-performers who drag indices down.
Goldman Sachs will replace Bank of America;
Visa will replace Alcoa; and,
Nike will replace Hewlitt-Packard.
As a sign of the times, a Florida Mutual, Not-For-Profit insurance company is converting to a For Profit operation September 13th, 2013 - The Mutual Insurance is becoming a private Holding Company. With that conversion, $1.6 billion dollars of assets will be transferred from the old mutual firm to the reorganized firm without compensation to the membership, whose surplus premium payments made possible the accumulation of wealth transferred.
Current figures, which seem to be subject to whimsical revisions, paint a confusing picture of the US economy - now and for the next few quarters.
Mohamed El-Erian is an outstanding, accomplished man.. O&G considers those among us outstanding in their accomplishment who can analyze a critical situation and determine corrective action to benefit the "general welfare of the nation". The one element he may lack to keep him from the ascending to the absolute top tier of outstanding accomplished persons in US history is a public office which would empower him to put into operation the corrections needed to put us on the road to recovery.
Placed in support of this accolade is his entry in today's Guardian
JPMorgan was fined in an unspecified number of charge card cases.
NYTimes reported on this.
Just in time to take advantage of the Nasdaq 3-hour misfortune last week, two smaller exchanges have sealed a deal to merge creating an enterprise larger than Nasdaq with exchanges now in operation in the US and Europe and plans to expand to Brazil.
At 9 AM today 8/27/13 -
- Dollar, except for the Swiss franc and the Japanese ¥, is up;
- World market indices are overwhelmingly red;
- Bloomberg futures show three figure drop in Dow Industrials; and
- Yesterday, the US Treasury Secretary predicted our cash box would be unable to meet its mid-October obligations.
Reuters' contributions this AM, preparing for market opening, presents a less than promising picture.
To those able to enjoy a weekend away from TV and newspapers, have ignored the upsetting events and might feel in need of updates of what our government has been up to:
Some news teaser headlines from Reuters Tuesday, 8/20/2013 -
NEW YORK | Fri Aug 16, 2013 7:58am EDT
(Reuters) - Stock index futures edged higher on Friday, after the largest decline on Wall Street in nearly two months a day earlier set major indexes on course for their first back-to-back weekly declines since late June.
Investors are concerned the economic recovery is slower than they had hoped as corporate revenue growth has disappointed even as company bottomlines have hit the mark.
The nearest to an exciting headline on the Reuters site is an observation on Euribor rates, Euro Union’s equivalent of LIBOR.
A compendium of several subjects, publications and developments over the weekend.
Random cast-net type of data collection via unjustified intrusion is the first step to Censorship. It also directly serves to intimidate and restrict thought and control the printed word. A heavy blow against the concept of liberty.
At 11:26 AM today, the Dow was down 128 points and perhaps a minute later, on leaving the site, the number -138 popped up.
TheGuardian now has a third major area attached to its attention getting banner. . . NSA files!
theGuardian, in an article by Glenn Greenwald, has published letters and emails that passed between 2 Representatives and the House committee on Intelligence.
Reuters opens our day with a ditty worth comment.
Then follows up with some other promises for the festival.
The Fed received an OK from the SIFMA. . . OK to Raise Interest Rates in September! We're Now Geared for It.Submitted by Old and Gray on Sat, 07/27/2013 - 05:32
Analysts Target September for Fed Tapering
NEW YORK (MainStreet)--A slow and steady course of improvement is forecast for the U.S. economy, according to the Securities Industry and Financial Markets Association's (SIFMA) Economic Advisory Roundtable. The analysts expect the economy to grow at a rate of 1.7% for the full-year 2013 and 2.6% in 2014.