Posts Tagged ‘public debate’

Rep. Bachus: “Social Security Could Face Default Within Two Years”

Rep. Bachus: "Social Security Could Face Default Within Two Years"

IOU Courtesy of Mish

Inquiring minds are reading the details of an interview in the Tuscaloosa News with Congressman Spencer Bachus. Please consider Bachus discusses Social Security, health care.

“Social Security could face default within two years,” U.S. Rep. Spencer Bachus predicted here Tuesday. “The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression. What this recession has done to Social Security is pretty alarming."

“We’ve known for 15 years that we were going to have to make adjustment to Social Security, but we still through that was seven or eight years down the road,” he said. “But if things don’t improve very quickly, we’re going to be dealing with that problem before we know it.”

“We could raise the retirement age, or in the worst case, cut back on some benefits,” he said. “But that is something we are just now beginning to get a handle on.”

By the way, and as noted in Federal Tax Revenues Suffer Biggest Drop Since Great Depression, there is no Social Security fund and there is no trust either.

All that exists of Social Security is a bunch of IOUs and unpaid promises that most believe cannot possibly be met.

Health Care Debate Rages On

Bachus also commented on health care and will not vote for the package in it’s current form. “I cannot vote for a bill that has the government intruding into the private sector, subsidizing health care and eventually putting the insurance companies out of business,” he said.

Bachus believes privately-administered health “co-ops,” and elimination of fraud and waste in Medicaid and Medicare is the way to go.

The creation of health care “co-ops,” or non-profit health cooperatives run by members, is an idea that has gained momentum as Democrats and President Barack Obama seems to have moved away from the idea of a “government option,” which would be a government-run alternative to private health care now offered by for-profit insurance companies.

Who Is In Favor Of The Bill?

Inquiring minds are asking who is backing the health care bill? For the answer, simply watch TV commercials as noted in Drugmakers Ramp Advertising Campaign For Health Care Reform.

The pharmaceutical manufacturers would not be spending $120 million in advertising if


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Zero Hedge

Islam Vs The West - Has A Neo-'Operation Gladio' Been Started?

Courtesy of ZeroHedge. View original post here.

Via The Daily Bell,

How should France answer to the horror in Nice? The country is now deeply entrenched in a long-term war with few hopes of dodging future attacks. The anger of the French population is understandable. But booing a prime minister at the commemoration ceremony for the loss of innocent lives is not the smartest idea.   No intelligence service could have prevented the Nice attack as nothing in the profile of the lunatic who drove over 84 people ...



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Phil's Favorites

What a City With Driverless Cars Will Look Like (In 10 Years or Less)

Courtesy of Mish.

My vision of driverless trucks and taxis within the time frame of six to eight years looks downright feeble to that of Chris Dixon, a partner at prestigious Silicon Valley investment firm Andreessen Horowitz.

Not only does Horowitz see things happening faster than I do, he envisions entire cities totally driverless within ten years.

Tech Insider reports A top Silicon Valley investor predicts what the world will look like in 10 years, when roads are full of self-driving cars.

Within ten years, roads will be full of driverless cars. Maybe within two, depending on where you’re driving.

That’s what Chris Dixon, a partner at...



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Chart School

Gann Angles on the Dow Jones Industrials

Courtesy of Read the Ticker.

Let's review the Dow Jones Industrial with Gann Angles.

We have jump to the long Gann Angle sourced from the 2007 highs, this is major resistance. A charge to 19,000 is required to bust this line. However this blog suspects more of the same consolidation along the angle. If there sellers are in charge then this is were they start to unload.


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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

..“It cost me mil...



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Market News

News You Can Use From Phil's Stock World

 

Financial Markets and Economy

Yellen Still Waiting for Overwhelming Evidence to Warrant Hike (Bloomberg)

For Federal Reserve officials, getting better never seems to rise to good enough.

Stock Investors Pay Up for Peace of Mind (Wall Street Journal)

Investors are pouring billions of dollars into funds that promise to minimize market swings, highlighting the anxiety that prevails after seven years of stock gains.

...



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OpTrader

Swing trading portfolio - week of July 25th, 2016

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Kimble Charting Solutions

Silver; Dangerous price point to slip from

Courtesy of Chris Kimble.

Below looks at a chart of Silver prices over the past 8-years. After declining sharply, Silver hit its 38% Fibonacci retracement level twice at (1). After failing to break above Fibonacci retracement resistance, selling pressure picked up and Silver fell hard.

CLICK ON CHART TO ENLARGE

Silver is now testing its 23% Fibonacci retracement level and falling resistance at (2), inside of a short-term rising wedge pattern.

...

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ValueWalk

Relypsa Inc (RLYP) Soars On Galenica Bid

By Jacob Wolinsky. Originally published at ValueWalk.

Relypsa Inc (NDAQ:RLYP) — to be acquired by Galenica AG (VTX:GALN) for $32 per share in cash is soaring this morning up about 58 percent at the time of this writing in early morning. On the other hand shares of Galenica are down on the announcement by about 8 percent. What are the details of the deal? Here is what the sell side analysts are saying about the pharma news.

Relypsa Inc (NDAQ:RLYP) bid – analysts react

Cantor Fitzgerald

Relypsa will be acquired by Galenica for $32 per share, a 59% premium over the last closing price. We have thought that Relypsa would likely be acquired at some point, given the opportunity to grow Veltassa to be a significant commercial brand, ...



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Digital Currencies

Demystifying the blockchain: a basic user guide

 

Demystifying the blockchain: a basic user guide

By Philippa Ryan, University of Technology Sydney

Companies around the world are exploring blockchain, the technology underpinning digital currency bitcoin. In this Blockchain unleashed series, we investigate the many possible use cases for the blockchain, from the novel to the transformative.

Most people agree we do not need to know how a television works to enjoy using one. This is true of many existing and emerging technologies. Most of us happily drive cars, use mobile phones and send emails without knowing how they work. With this in mind, here is a tech-free user guide to the blockchain - the technology infrastructure behind bitcoin...



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Mapping The Market

No wonder Saudis are selling as much as they can!

Courtesy of Jean-Luc

We are getting much more energy efficient – no wonder Saudis are selling as much as they can! Who wants to be the one with trillions of dollars of oil in the ground unwanted:

http://arstechnica.com/science/2016/07/the-amount-of-energy-needed-to-run-the-worlds-economy-is-decreasing-on-average/#p3

...

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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Biotech

This Is Why Biotech Stocks May Explode Again

Reminder: Pharmboy and Ilene are available to chat with Members.

Here's an interesting article from Investor's Business Daily arguing that biotech stocks are beginning to recover from their recent declines, notwithstanding current weakness.

This Is Why Biotech Stocks May Explode Again

By 

Excerpt:

After a three-year bull run that more than quadrupled its value by its peak last July, IBD’s Medical-Biomed/Biotech Industry Group plunged 50% by early February, hurt by backlashes against high drug prices and mergers that seek to lower corporate taxes.

...



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Promotions

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We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

If you are looking for non-mainstream, provocatively-narrated news and opinion pieces which promise to make you think -- we feature Zero Hedge, ...



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Help One Of Our Own PSW Members

"Hello PSW Members –

This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible.  Feel free to contact me directly at jennifersurovy@yahoo.com with any questions.

Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts.  After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.)  Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.

http://www.youcaring.com/medical-fundraiser/help-get-shadowfax-out-from-the-darkness-of-medical-bills-/126743

Thank you for you time!




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