By Lambert Strether of Corrente.
Trumka whines, rolls over, shows belly to Democrats [Politico, “AFL-CIO: 2016 endorsement doesn’t hinge on fast track”]. That was fast.
“To secure broad and bipartisan support for trade agreements, the administration needs to reach deals that address the legitimate concerns raised by many Democrats.” [Editorial, New York Times]. Fine word, legitimate…
Potential impact of King v. Burwell opinion on TPP [@nielslesniewski].
Never knew there were three section 1563s in Obamacare until Chief Justice Roberts told me: pic.twitter.com/IjDOAOtPC6
— Niels Lesniewski (@nielslesniewski) June 25, 2015
Hmm. Written in secret. Limited opportunities for debate. Bypassed the filibuster requirement. Remind you of anything? And “inartfully drafted.” Tinfoil hat time: Roberts laying in some footings?
Senate passes TPA and TAA as separate bills, returns them to the House [New York Times]. “The burst of legislative action secured a hard-fought victory for Mr. Obama and the Republican congressional leadership.” Yes, that’s the bipartisanship promised by the Obots in 2008. Well played.
“Obama Bolsters His Leverage With Trade Victory, but at a Cost” [New York Times]. “The open warfare within his own party was searing and may be slow to heal.” Good.
And see the Corruption section below.
“HCA Holdings Inc., Tenet Healthcare Corp. and Community Health Systems Inc. all gained more than 8 percent after the ruling. Health insurers also advanced” [Bloomberg]. Cui bono.
Shocker: Roberts Court upholds Heritage Foundation plan to rescue health insurance industry [Wall Street Journal, “Supreme Court Upholds Obama’s Health-Law Subsidies”]. Since
citizens consumers can how be legally mandated to enter lemon markets for necessities, this removes a key roadblock to a “Retirement Marketplace” where Social Security is a “public option.” Thanks, progressives!
Roberts: “Congress passed the Affordable Care Act to improve health insurance markets, not to destroy them” [WaPo]. Health care is a lemon market; it can’t be “improved.” And health insurance is a lemon market if the insurance companies have their way writing the policies to profit by denying people care.
“‘This decision allows (state officials) to move forward with a level of confidence that their markets will not see significant disruption due to a paradigm shift,’ said Ben Nelson, CEO of the National Association of Insurance Commissioners and [ka-ching] a former Democratic senator from Nebraska” [AP].
“Subsidies upheld, but health needs still unmet” [PNHP].
“Between 16 and 17 million people have gained health insurance as a result of the health law, most studies have concluded. About 35 million remain uninsured” [Wall Street Journal, “5 Things About People Who Remain Uninsured Despite Obamacare”]. What a stark failure for “progressives,” despite the pom-pom waving.
Emails show Gruber wasn’t just “some advisor,” as Obama said [Wall Street Journal, “MIT Economist Jonathan Gruber Had Bigger Role in Health Law, Emails Show”]. There’s this: “In a Jan. 14, 2010 email, [White House Mr. Furman emailed that “we got a deal with labor. Keep that very close hold.” Lot of interesting material on the time-line of Democrat and “progressive” betrayal on single payer, here. And then there’s this:
In a Sept. 23, 2009, email, Mr. Gruber emailed Ms. Lambrew saying “pharma is going to be a huge winner from this bill—maybe $15 billion/year in incremental revenue. Any way to go after them harder for financing?”
Ka-ching! Obama cut his secret deal with Big Pharma in summer 2009, so it looks like Gruber had his model working by that point?
“[At least three hospitals in the University of Pittsburgh Medical Center system have] banned the sale of the Pittsburgh Post-Gazette from some of its hospital gift shops, accusing the newspaper of “slanted” coverage, the newspaper reported Wednesday [Charlotte News-Observer]. Thin-skinned, aren’t they?
“Bernie Sanders is gaining on Hillary Clinton in Iowa and New Hampshire, with an appeal as an issue-oriented protest vehicle potentially capable of slowing any coronation of the popular front-runner” [Bloomberg].
The S.S. Clinton
“A recent NBC/Wall Street Journal poll found Hillary Clinton defeating former Florida Gov. Jeb Bush (R) by 8 percent, Sen. Marco Rubio (R-Fla.) by 10 percent and Wisconsin Gov. Scott Walker (R) by 14 percent” [The Hill].
Clinton to give Netroots Nation a miss [Newser]. Awww!
Republican hot takes on King v. Burwell [WaPo].
Rubio and Graham service squillionaire Adelson [The Hill]. They “introduced legislation Wednesday that would push the government to crack down on most forms of online gambling. The legislation is backed by GOP mega-donor and casino magnate Sheldon Adelson.” Because the children.
Republican Principled Insurgents
Walker optimistic on stalled state budget passage, University guts, Bucks stadium giveawats [Capital Wisconsin].
“Stein is starting early by joining other third-party contenders who have been excluded from CPD [Commission on Presidential
Duopoloy Debates] debates as plaintiffs in a historic legal challenge to the commission’s practices” [The Nation].
Jobless Claims, week of June 19, 2015: “[J]obless claims are steady at historic lows” [Bloomberg].
Personal Income and Outlays, May 2015: “The consumer came to life in May, boosted by a 0.5 percent rise in personal income and helping to support a 0.9 percent surge in personal outlays that reflects heavy spending on autos and retail goods” [Bloomberg]. “This is a good report for the bulls.”
Bloomberg Consumer Comfort Index, week of June 21, 2015: Up following two prior declines [Bloomberg]. “In line with the mid-month consumer sentiment report that showed a sharp burst.”
“U.S. architects’ billings grew strongly in May as demand for multifamily housing rose and a recovery in the market for non-residential construction spread to institutional buildings like schools and museums, architects and a trade association told MNI” [Market News].
PMI Services Flash, June 2105: “PMI services are down sharply in this month’s flash, to 54.8 vs 56.5 in the final May reading. Growth rates for new orders and shipments, instead of showing a spring burst, are among the slowest this year” [Bloomberg]. “This report is a surprise, suggesting that June will prove to be a disappointing month for the economy and will not see an extension of the wide economic acceleration during May.”
Kansas City Fed Manufacturing Index, June 2105: “[R]emains depressed” [Bloomberg]. Weakness in exports.
“Week 24 of 2015 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. Intermodal traffic expanded year-over-year, which accounts for half of movements – but weekly railcar counts continues in contraction” [Econintersect]
“Longer term year over year view on durable not looking so good” (FRED charts) [Warren Mosler]. The cheerleading continues….
Bold-faced names: Democrat trade traitors. Readers, more like this, please (contact form below). List of traitors; is one of them “your” “representative”?
“Sen. Maria Cantwell broke federal election laws by not promptly disclosing emergency loans made late in her 2000 campaign… from a branch of U.S. Bank in Bellevue in the closing days of the campaign” [Seattle Post-Intelligencer]. This is 2000. Has Cantwell reformed, or is she a recividist?
“The greatest investment of [Richard] Blum’s career was undoubtedly his marriage, roughly 30 years ago, to the politically Joe Lieberman-esque US Senate Democrat, Dianne Feinstein [Anderson Valley Advertiser]. How cozy.
“Last week, Democratic U.S. Sen. Bill Nelson and Republican U.S. Sen. Marco Rubio voted down a measure that would have cut subsidies to Florida’s lucrative sugar industry” [Florida Center for Investigative Reporting]. “Big Sugar is a big donor to political campaigns all over the country — but especially in Florida.”
“Florida Sen. Bill Nelson cashed in on Florida’s foreclosure crisis, purchasing a lavish $1 million golf course condominium from a major donor on the cheap” [Washington Free Beacon]. “County real estate records reveal that in November 2011 Nelson purchased a 4 bedroom, 4 bathroom condo at 10339 Kensington Shore Drive for $717,800—$350,000 less than the condo’s $1.07 million value.”
Black Injustice Tipping Point
“The Spreading Opposition to Confederate Symbols” [The Atlantic]. The end of Nixon’s Southern Strategy?
“The Emancipation Proclamation doesn’t discuss the ideology of white supremacy or the narrative of racial difference, so I don’t believe slavery ended in 1865, I believe it just evolved. It turned into decades of racial hierarchy that was violently enforced” [The Marshall Project]. Very good.
“There are now 211,275 people Wealth-X categorizes as UHNW [Ultra-High Net Worth] living globally, collectively owning almost US$3 trillion of real estate, making up 10% of their net worth” [Mansion Global]. There are not very many of the Shing.
“Targeted by Governor Rauner, Illinois State Museum’s Chicago facilities are emptying out” [Chicago Reader].
“Puerto Rico Debt Crisis Mounts With Key Deadline Just Week Away” [Bloomberg]. Little-watched story, closer than Greece.
News of the Wired
Boeing’s union-busting plastic plane loses money every time one rolls off the production line. $26 million bucks a pop [Forbes]. “This terrible drag on profitability would have been partly avoided if Boeing management had taken a different approach to labor.”
“Mr Muilenburg’s appointment could be the signal that Boeing intends finally to crack a longstanding problem — how to force the commercial aircraft and defence divisions to work closely together, and thereby become a more efficient group”” [Financial Times, “New Boeing CEO Dennis Muilenburg eyes jet production challenge”].
“But even as the trend toward greater reliance on data has accelerated over the past decades, the information itself has fallen dangerously short of the mark. Sometimes it doesn’t exist at all. But worse than that, all too often it’s just wrong” [Governing]. Refers to state data….
The Archdruid on agnotology and negotiation skills [The Archdruid Report].
“‘You’re in my house!’ President Obama slams, boots White House heckler” [New York Daily News]. Actually, the White House isn’t Obama’s house. The citizens own it, not him.
Readers, feel free to contact me with (a) links, and even better (b) sources I should curate regularly, and (c) to find out how to send me images of plants. Vegetables are fine! Fungi are deemed to be honorary plants! See the previous Water Cooler (with plant) here. And here’s today’s plant (Doug):
Doug writes: Blooming Veronica in Colorado Rockies.
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