Counterparties: SCOTUS’s massive healthcare decision
Welcome to theÂ Counterparties email. The sign-up page isÂ here, itâ€™s just a matter of checking a box if youâ€™re already registered on the Reuters website. Send suggestions, story tips and complaints toÂ Counterparties.Reuters@gmail.com
The Supreme Court is holding off issuing a ruling on the constitutionality of Obamacare until next week.
The are four basic scenarios of what the Court can do and the decision has massive economic implications. The industry accounts for some 18% of US GDP; billions of dollars in federal spending and the future of hundreds of community healthcare centers are in play.
Only the justices and their staff of clerks know with any certainty where this is headed (sorry, Jeff Toobin). No matter how obsessively you checkÂ SCOTUSblog â€“ your single best resource for all things Supreme â€“ you won’t hear anything early. Unlike the rest of the branches of government, the Supreme Court is aÂ leak-free machine. Until the official word comes, comfort yourself with the Vegas odds and courthouse gossip.
The decision likely hinges on Justice Kennedy:Â Dahlia Lithwick calls him “the original independent swing-state voter”. Or it could just as easily hinge on what the justices think ofÂ the mandated eating of broccoli, a vegetable Americans actually do like,Â it turns out.
And if you need to be hit over the head with the human importance of this issue, the NYT’s Annie Lowrey looks at an Oregon program that found providing health insurance to adults in poverty made them “healthier, happier and more financially stable”.
To help lead you through the twists and turns of the healthcare decision, we’ve compiled a Twitter list of the best people to follow. A huge thanks to Erin Geiger Smith and the Reuters Legal team for helping with this.
So have as relaxing a weekend as is possible when a decision affecting how we spend $2.5 trillion a year awaits your return.Â â€“ Ben Walsh
On to today’s links:
Monti: We have a week to save the EU and prevent “progressively greater speculative attacks on individual countries” â€“Â Guardian
“Like asking your children to grade their own homework”: Euro banks may be artificially inflating their health â€“Â WSJ
Krugman: When it comes to economic inequalities, the euro zone is no worse than the US â€“Â NYT
Investors respond to Moody’s bank downgrades with emphatic “meh” â€“Â Bloomberg
Moody’s slightly reduces its overrating of banks â€“Â Dealbreaker
Moodyâ€™s ratifies interbank mistrust â€“Â Felix
Corporate profits hit an all-time high; wages just hit an all-time low â€“Â Business Insider
Nevada has had the highest employment in the nation for the last 27 months â€“Â WSJ
Superheroes aren’t immune to recessions â€“Â Imgur