Fri, 1 July 2016
I've taken a lot of heat over the past couple of years when I said that Europe was in far worse shape than America. As Greece was collapsing, I told all of you to pay close attention to France and Italy because their economies are headed toward the same end.
It would appear the EU is now attempting to calm fears in Italy and prevent a run on the banks by providing a 150 billion euro guarantee on Italian bank deposits. Apparently, the Brexit came at just the right time for Italy, giving the Prime Minister just the excuse he needed for such an extraordinary bailout.
Also in the stack today; Insurance companies are now suing HHS to get paid after Obamacare fails to deliver it's promised profits. The insurers probably screwed, and you might be tempted to say "GOOD! Serves you right for backing such a distinctly socialist policy." The problem is, you're the one who's going to end up footing the bill through higher premiums.
It's another example of failed socialist policies at work.
Happy 4th Everyone! Enjoy your weekend.