“Our highly levered financial system is like a truckload of nitro glycerin on a bumpy road,” Gross wrote.”One mistake can set off a credit implosion where holders of stocks, high yield bonds, and yes, subprime mortgages all rush to the bank to claim its one and only dollar in the vault”
See Top investor says don’t be fooled by Trump mirageA lot of talk and no action has inflated investors valuation of equities to the breaking point. Let’s hope the jobs report published tomorrow doesn’t burst the bubble. Still, I’m glad I’m sitting on gold.
According to today’s news, TrumpCare is DOA. It doesn’t please a large enough voting block to pass it. It purports to keep some of the good things about ObamaCare but it doesn’t do anything to fix the bad things in ObamaCare like spiking premiums/declining coverage, and providing health insurance to the poor, millions of them, but still not getting them all. Sure, they can give tax credits the poor can’t use because they don’t have the money to pay for insurance in the first place, and yes they can lower insurance premiums for healthy people by sending sick people to Hell, but they’re capping MedicAid so that won’t work. Guess what? A lot of those poor sick people believed Trump and voted for him. Think they’ll be a little annoyed? Think a -3million vote margin will be big enough next time? What about mid-terms? FAIL!
No. Trump and friends will have to put up or go home. About the only hope of Trump is to convince supporters that Canadian MediCare is the way to go. The Democrats would probably support that. GOP blood-pressure would spike but who cares? He’s a populist, eh? Letting ObamaCare fail is not an option. The next elections are too far away for them to blame Obama. They did promise to do a better job. Get on with it!