It is the 12th of November 2019

News

House Set To Vote On Stopgap Spending Bill Tomorrow

Update (5:30 pm ET): House Republicans are moving ahead with a plan to avoid a shutdown after the House Rules Committee approved a rule change that will allow Republicans to bring a two-week stopgap plan up for a floor vote Thursday, allowing the senate until end-of-day Friday to avoid a shutdown. The plan helped Speaker Paul Ryan override conservative GOP lawmakers who were pressing for a longer extension to get more leverage over Democrats and the Senate.

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"Helpless, Raging" Charlottesville Families Shocked By These 2018 Obamacare Premiums..."It's Horrific"

Over the past several months, Democrats have jumped on every opportunity possible to blame the Trump administration for yet another year of staggering Obamacare premium increases.  Ironically, despite arguments from the Left that Trump's defunding of Obamacare's marketing budget would cause 2018 signups to plunge, as Politico recently noted, they're actually up in 2018...which begs the question: was the Obama administration just wasting $100 million a year in taxpayer money for nothing?  Shocking thought, we know.

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What Bubble? Sacramento Housing Development Selling $425,000 Pads With No Money Down

There were plenty of bad actors that contributed to the housing crisis in 2009...the banks that underwrote mortgages for people that they knew couldn't afford the home they were buying and then turned around and sold those loans to unsuspecting insurance companies via RMBS structures...the high school janitor making $50,000 a year who suddenly figured he could afford a $750,000 home...the 22-year-old Las Vegas stripper who took out millions in mortgages so she could make "easy money" flipping homes...there was plenty of blame to go around. 

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Q3 Earnings Season Begins This Week: Here Are The 3 Things Goldman Clients Are Focusing On

It's that time in the quarter again: 3Q earnings season begins this week with Wall Street consensus expecting S&P 500 EPS growth of just 5% (3% ex-Energy), a sharp drop from the last two quarters (Q1 was+14% and Q2 +11%). According to Goldman's Davis Kostin, "solid economic activity coupled with a weak USD will support sales growth of 7%, consistent with the past two quarters." The Goldman strategist also expects margins to slip slightly to 9.7% but remain near record highs, and that "investors will ignore the EPS slowdown given one-time hurricane effects and the focus on benefits from corporate tax reform."

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