- The US government, much to the chagrin of Senator Ted Cruz, is set to officially relinquish the Department of Commerce’s oversight of the Internet Corporation for Assigned Names and Numbers (ICANN) as of tomorrow night at midnight. ICANN is a California nonprofit that has supervised website domains since 1998, essentially under subcontract from the Commerce Department.
- Under the Obama transition plan oversight by the U.S. Commerce Department would end and be replaced by a multi-stakeholder community, which would include the technical community, businesses, civil society and governments.
- Cruz had attempted to block the internet transition by tying the recently passed funding bill to the reversal of the ICANN turnover. That said, apparently his harsh admonishments on the Senate floor failed to draw enough support from his fellow republicans to force a government shutdown over the topic
Read more at: 4 States Sue To Block Obama’s Internet Transition Set For Tomorrow Night
- If folks don’t like their healthcare then they can give us all their money so we can give it to other folks.
- New IRS disclosures from the 2014 tax year reveal the specifics of how the so-called “Affordable Care Act” helped to facilitate Obama’s desire to, as he famously told “Joe the Plumber”, “spread the wealth around.”
- To be precise, in 2014, Obamacare spread $11.2BN of wealth around, in the form of healthcare premium tax credits, with nearly 80% going to taxpayers reporting less that $35,000 of adjusted gross income. Moreover, the average tax filer received $3,600 of healthcare premium support with those in the lowest tax bracket receiving over $5,500 per person.
Read more at:IRS Report Reveals How Obamacare “Spread [$11 Billion] Of Wealth Around”
- The European banking crisis simply doesn’t let up. Currently, the big two German banks are grabbing the headlines away from the Italian banks, due to their size and the damage they could do to the global financial system. Other banks are in bigger trouble still, and some have already collapsed, with bailouts and bail-ins getting lined up.
- Deutsche Bank had to endure a horrendous Monday after it was leaked on Friday that Merkel had refused to entertain bailing out the bank before the general elections a year from now. Merkel’s popularity has gotten broadsided recently, and bailing out bank bondholders with taxpayer money is just not popular at the moment.
Read more at:EU Banking Mayhem, One Bank at a Time, then All at Once
- Jesse Felder published an incisive bubble finance chart over the weekend. It is yet another reminder that Janet Yellen and her merry band of money printers are oblivious to the dangerous speculation and valuation excesses that their policies have implanted throughout the financial system.
- Relative to disposable income, the value of household financial assets now far exceeds the last two bubble peaks. And that has happened in an economic environment which suggests just the opposite. To wit, valuation multiples and cap rates should be falling owing the fact that the productivity and growth capacity of the US economy has been heading south ever since the turn of the century.
Read more at:Dangerous Bubbles In Plain Sight
- It has already been an abysmal day for Germany’s biggest lender: overnight Deutsche Bank plunged to fresh all time lows on speculation whether the German government would or wouldn’t provide state aid to the bank (if needed), forcing the bank to state it does not need the funds at the same time as the government urged markets that “you can’t compare” Deutsche Bank and that “other” bank, Lehman Brothers, although looking at the chart, one may beg to differ.
- However, while DB stock closed at session lows, over 7% lower on the day, with its market cap of $16 billion now rapidly approaching the $14 billion litigation settlement demanded by the DOJ, the bad news did not stop there.
Read more at:“It All Has A Very 2008 Feel To It” – For Deutsche Bank, The News Just Keeps Getting Worse
The US Government never wanted peace in Syria, no matter how hard Russia tried the US would never stick to any peace deal. The goal has always been the same, get Assad. The US Government is on the losing end, if Russia and Syria continue defeating the ‘IS’ there is no reason for the US Government to be in Syria, the US Government only has one move left, start WWIII.
- Just three weeks after yet another “landmark” Syria peace deal was signed, the agreement is not only in tatters but the war drums are beating louder than ever before after the US slammed Russia’s action in Syria as “barbarism,” not counter-terrorism, while Moscow’s U.N. envoy said ending the war “is almost an impossible task now” as Syrian government forces, backed by Moscow, bombed the city of Aleppo.
- As Reuters reported overnight, the UN Security Council met on Sunday at the request of the United States, Britain and France to discuss the escalation of fighting in Aleppo following the announcement on Thursday of an offensive by the Syrian army to retake the city. “What Russia is sponsoring and doing is not counter-terrorism, it is barbarism,” U.S. Ambassador to the United Nations, Samantha Power, told the 15-member council.
Read more at:US Slams Russian “Barbarism” In Syria; Moscow Responds Peace “Almost Impossible Now”
- Are you ready for the most anticipated presidential debate in decades? It is being projected that Monday’s debate between Donald Trump and Hillary Clinton could potentially break the all-time record of 80 million viewers that watched Ronald Reagan and Jimmy Carter debate back in 1980. Many Americans probably hope to see some personal fireworks between the two nominees, but the two candidates have both expressed a desire to focus on substantive issues.
- There will likely be quite a few questions about the economy, and without a doubt this is an area where Trump and Clinton have some very sharp differences. The mainstream media would have us believe that the U.S. economy is in pretty good shape, and if that was true that would seem to favor Clinton. But is it actually true? The following are 26 incredible facts about the economy that every American should know for the Trump-Clinton debate…
Read more at:26 Incredible Facts About The Economy That Every American Should Know For The Trump-Clinton Debate