One upon a time, back in early 2012, David Rosenberg was a prominent bear and deflationist, while his nemesis, Wells Capital's Jim Paulsen, was one of Wall Street's biggest equity bulls. The confrontation between the two culminated with a January 2012 article explaining "What (If Anything) The Bulls Are Seeing."
“Two things become clear in an analysis of the financial health of US hydrocarbon production: 1) the sector is not at all homogenous, exhibiting a range of financial health; 2) some of the sector indeed looks exposed to distress [and] lifelines for distressed producers could include public equity markets, asset sales, private equity, or consolidation. If all else fails, Chapter 11 may be necessary.” That’s Citi’s assessment of America’s “shale revolution”, which the Saudis have been desperately trying to crush for more than a year now.
It was just 10 months ago that Boston smashed its all time snowfall record, and the US was blanketed in freezing weather from west to east as the Polar Vortex unleashed cold air for the second year in a row. It was so cold, the GDP report for the winter period had to be double-seasonally adjusted as the sharp economic slowdown simply did not make sense otherwise.
For those who have followed the meteoric - and completely implausible - rise of Islamic State, it’s easy to become desensitized to the group’s apparent brutality.
It is a national disgrace that the United States is the only major country that does not guarantee health care to all people as a right. Today, 29 million of our sisters and brothers are without care. Not only are deductibles rising, but the cost of prescription drugs is skyrocketing as well. There is a major crisis in primary health care in the United States.