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Private Utility Monopolies Serve Shareholder Profits. Let’s Make Power Public.

March 9, 2020 - 1:11am

Consider a hypothetical corporation that has a monopoly over millions of people, providing a service that is indispensable to its customers. If it raises prices, customers have no choice but to pay those prices. Recognizing this, the government imposes some regulation. It cannot set arbitrarily high prices, but it negotiates with the government to obtain prices that guarantee a steady profit rate.

"This is Groundhog Day": Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes

December 22, 2017 - 11:07pm
"This is Groundhog Day": Spanish Stocks Battered By Catalan Vote, Bitcoin Crashes

Spanish stocks and the euro fell, while Spanish government bond yields hit their highest levels in over a month after Catalan secessionists delivered an unexpected blow to the government of Spanish PM Rajoy by winning the Catalan regional election. Meanwhile across the Atlantic, U.S. equity futures and the dollar rose on the last trading session before the Christmas holiday. The MSCI index of world stocks was flat.

Spanish Crisis Returns: Separatists Win Catalan Election In Huge Blow To Rajoy

December 22, 2017 - 10:56am
Spanish Crisis Returns: Separatists Win Catalan Election In Huge Blow To Rajoy

Despite growing expectations that Catalan separatist fervor had abated in the aftermath of the post-independence fiasco, consensus was once again set for disappointment and on Thursday night, Spain was thrown back into chaos after the three Catalan separatist parties, Junts per Catalunya, Republican Catalan Left and the CUP, held on to a small but critical majority in the Catalan regional parliamentary election, dealing a stunning rebuke to Prime Minister Mariano Rajoy and his attempt to bury the Catalan independence movement.

Global Bond Rout Eases As Nervous Traders Watch For "Selling On The Tax News", Catalan Vote

December 21, 2017 - 10:56pm
Global Bond Rout Eases As Nervous Traders Watch For "Selling On The Tax News", Catalan Vote

U.S. equity futures are little changed with the GOP Tax Plan now a done deal and no more daily "pricing in" of tax reform possible, as traders nerviously look to see if others will now be "selling the news", a preview of which we got yesterday when US equity indexes closed red across the board despite Trump's biggest legislative win to date, while bonds were spooked by the blowout in government debt needed to fund the giveaways.

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