The national opioid epidemic is even larger drain on the US economy than previously believed, according to a new analysis from the White House Council of Economic Advisers. The cost of opioid-related deaths in 2015 was $504 billion, according to the CEA – a figure equivalent to 2.8% of that year’s gross domestic product.
Shortly after Wired first profiled the NSA's new super spycenter in Bluffdale, Utah (one year before Snowden confirmed that much of the agency's activity involved spying on US citizens and soon to be presidents), speculation emerged as to how much data storage capacity this brand new US spy hub would have.
When many American traders went to bed last night, China was tumbling, the euro was in trouble, and US equity futures were notching lower. Then, as former fund manager Richard Breslow scoffs, it appears the world "reconsidered" and everything rallied to erase any sign of discontent or uncertainty by the time everyone woke up...
Via Bloomberg,
Apparently, the word of the day is “reconsider.”
The $2.4 Trillion Hidden “Fed Tax”
Written by Peter Diekmeyer, Sprott Money News
Jerome Powell’s support for the Federal Reserve’s low interest rate regime has long benefited investors, who reacted favorably to news that he would be Donald Trump’s nominee as its new chair.
US index futures are unchanged, having recovered virtually all overnight session losses alongside the EURUSD following Merkel's failure to form a government, while European shares rise despite Angela Merkel's failure to form a new government. In the span of just hours, the goalseeked "hot take" consensus was that Germany’s collapsed coalition talks aren’t expected be a deal breaker for European equities due to the "strength of the German economy."