Time for a political reality check. Government-run public health insurance that competes with private plans — a Democratic dream since President Truman suggested it in 1945 — may not be dead for now on Capitol Hill, but its vital signs are awfully faint.
Might America and China be headed toward a falling out over currency issues as U.S. unemployment worsens? The always superinsightful Andy Busch of BMO Capital Markets makes a helluva point here (bold is mine):
Obama agenda falters, stock market rallies. I like to call this the Great Coincidence since, of course, the Investor Class would have no problem during a recession with higher income, investment, corporate, healthcare and energy taxes plus more regulation and intervention into the private sector. But wait! This article from The Hill makes the case that there might be something real to the GC after all (bold is mine):
This chart of the trend in durable goods orders makes me smile. Although June orders were down, notes Michael Darda of MKM Partners, “the weakness was concentrated in transportation, communications and defense. Non-defensecapital goods orders excluding aircraft, which is a component of the Conference Board’s Index of Leading Economic Indicators, rose 1.4% m/m after a 4.3% m/m rise in May — the first back-to-back gains in a year.”