We have been covering the consumption tax, pardon, endless spending black hole that is Obamacare for over a year, so we doubt it will come as a surprise to anyone that in 2015 healthcare was the second biggest use of US consumer funds, soaking up a record $1.9 trillion in real dollars, and more importantly for US economic "growth", the single biggest source of incremental spending by nearly a factor of two.
While the final revision to Q4 2015 GDP was so irrelevant it was released on a holiday when every US-based market is closed, even the futures, it is nonetheless notable that according to the BEA in the final quarter of 2015 US GDP grew 1.4%, up from the 1.0% previously reported, and higher than the 1.0% consensus estimate matching the highest Q4 GDP forecast. The final Q4 GDP print was still well below the 2.0% annualized GDP growth reported in Q3.
Submitted by Alex Newman via TheNewAmerica.com,
One month ago, in its traditionally cheerful assessment of the US housing market, the NAR's Larry Yun snuck in an unexpected warning:
"Home prices ascending near or above double-digit appreciation aren't healthy – especially considering the fact that household income and wages are barely rising."
He did it again just a few days ago:
Three California towns are currently suing Monsanto for poisoning San Francisco Bay with PCBs, chemicals known to cause cancer. Many involved in the lawsuit hope the court’s ultimate decision will make it easier for other cities across the US to hold companies, like Monsanto, liable for environmental damage. Until now, companies that cause long-term damage are rarely, if ever considered “at fault” by the US Government.