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Forget The Phony Pension Accounting, Here’s How Much Your State Pension Is Really Underfunded

The phony assumptions that go into calculating public pension underfundings in the United States are a frequent topic for us.  As our readers are aware, state pension administrators are given fairly wide leeway to simply pick a discount rate out of thin air.  Of course, since pensions are nothing but a massive stream of future […]


Considering Faking Your Own Death? Then The Philippines Is The Place For You

The technical term is pseudocide – a fancy word that means, essentially, “faking your own death." Hundreds of thousands of Americans – some struggling with seemingly insurmountable debt burdens or are being hounded by the IRS after stiffing the tax man – have probably fantasized about faking their own deaths. But few understand just how […]


An Italian Regulator’s Risk-Sharing Plan To “Cure The Eurozone”

Authored by Mike Shedlock via www.themaven.net/mishtalk, Marcello Minenna, a division head at the Italian securities regulator, emailed his plan to "Cure the Eurozone".  Marcello Minenna, the head of Quantitative Analysis and Financial Innovation at Consob, the Italian securities regulator, pinged me recently with his plan to save the Eurozone. The plan requires debt guarantees with […]


How Insurance Companies Could Easily Replace Government

Via The Daily Bell Government is a big insurance company. Except you can’t shop elsewhere for insurance. And their price is super high. And they threaten you if you don’t want to pay them. And the services they deliver are sub-par for the price. And you can’t itemize your “insurance” to only include the products […]


“This Is Absolutely Crazy”: Obamacare Signups Start As Americans Increasingly Balk At Surging Premiums

After years of surging premiums and deductibles, will 2018 finally be the year that America’s middle class throws in the towel and brings the whole scheme crashing down?  While we won’t know the answer to that question for at least a couple of months, one thing is certain…if it happens it will most definitely be […]


Here’s How Much Your Obamacare Rates Are Going Up In 2018 (Hint: It’s A Lot And It’s All Trump’s Fault)

A new study conducted by Avalere and released earlier today found that Obamacare rates will surge an average of 34% across the country in 2018.  Of course, this is in addition to the 113% average premium increase from 2013 and 2017, which brings the total 5-year increase to a staggering 185%. Meanwhile, and to our […]


Are You Infuriated Yet?

Authored by Chris Martenson via PeakProsperity.com, More and more, I'm encountering people who are simply infuriated with how our "leaders" are running (or to put it more accurately, ruining) things right now. And I share that fury. It’s perfectly normal human response to be infuriated when an outside agent hurts you, especially if the pain […]


Should The Middle Class Pay More For A Loaf Of Bread Than The Poor?

Authored by Mike Shedlock via MishTalk.com, Iowa seeks to become the first state to dump Obamacare in favor of a state-run program that will allegedly lower costs. I suggest Iowa's replacement plan can't work. My reason pertains to the title question. Please consider New Test for Obamacare, Iowa Seeks to Abandon Marketplace. With efforts to […]


Vulture Investors Swarm To Houston As Flooded Homes Sell For 40 Cents On The Dollar

      “The time to buy is when after there’s blood water in the streets.” As 1,000’s of families along the Texas shoreline continue to struggle with putting their lives back together following the apocalyptic landfall of Hurricane Harvey roughly 6 weeks ago, vulture investors are increasingly swooping in to exploit their misery with […]


Employer-Sponsored Healthcare Deductibles Surge 400% In Past Decade; 13x More Than Wages

We spend fair amount of time discussing the soaring costs of Obamacare, but, as the Kaiser Family Foundation points out in a new study, employer sponsored plans, while not as bad as Obamacare, are also gradually pushing more healthcare costs onto their employees through surging deductibles and co-insurance payments all while wages remain fairly stagnant. […]


The Obamacare “Death Spiral”: Health Plans Now Cost Employers More Than A New Car

With the Graham-Cassidy Obamacare replacement now officially dead, it appears Senate Republicans will be unable to pass a repeal-and-replace bill before the Sept. 30 deadline announced by the Senate Parliamentarian arrives – though it’s impossible to rule out another long-shot plan gaining momentum in the coming days. After the deadline, Senate Republicans would need 60 […]


“Lies, Lies, & OMFG More Lies!”

Authored by Jim Quinn via The Burning Platform blog, “There are three types of lies — lies, damn lies, and statistics.” – Benjamin Disraeli Every month the government apparatchiks at the Bureau of Lies and Scams (BLS) dutifully announces inflation is still running below 2%. Janet Yellen then gives a speech where she notes her […]


Catastrophe Bonds Suffer Biggest Crash In History

Lat week, when the eye of Hurricane Irma was still expected to pass over Miami, resulting in potentially unprecedented damages, including dramatic losses to the P&C sector, we reported that “Catastrophe Bond Investors Face Wipe Out As Hurricane Irma Approaches.” This was partially validated by several liquidation trades, the most prominent of which was the […]


“They Dodged A Bullet”: Why Insurer Stocks Are Soaring

After tumbling last week on concerns that between damage from Harvey and Irma, losses for the P&C space would be devastating, today the broader insurer space is breathing a sigh of relief after the Hurricane’s damage reportedly underwhelmed, especially following some especially dire observations over the weekend from the likes of Torsten Jeworrek, member of […]


Remember Houston? On Repairing/Rebuilding 100,000+ Damaged Houses

Authored by Charles Hugh Smith via OfTwoMinds blog, Almost lost in all the dollar estimates of property damage is the human loss, suffering and stress. I am not an expert in repairing flood damage, or in dealing with insurance companies, FEMA or all the other pieces that will go into homeowners getting the funding needed […]