Monthly Archives: September 2010

US is “Practically Owned” by China: Analysts

In another “Dog Bites Man” news story, and continuning today’s theme of “who would’a thunk”….

The US supremacy as the top world economy will end sooner than many people believe, so gold is a better investment than the dollar despite it hitting a new record, Tom Winnifrith, CEO at financial services firm Rivington Street Holdings, told CNBC.com Monday.

Gold [XAU=X  1308.5  -0.30  (-0.02%)   ] hit a new record high Monday and silver [XAG=X  21.7  -0.17  (-0.78%)   ] rose to another 30-year peak as investors were worried about the dollar weakening further after the Federal Reserve hinted at more quantitative easing last week.

The US trade deficit and debt continue to grow and the authorities are reluctant to address the problem, preferring to print money, Winnifrith said.

“America is practically owned by China,” he said.

Read the Rest….

Obama Threatens InsuranceCos that spread “misinformation”

Adding to the growing list of “So, you thought you were free”.

Government tells a regulated industry what they can/cannot say because Gov’mnt don’t like it.

Via Eugene Volokh at VolokhConspiracy (Volokh.com)

U.S. Department of Health and Human Services Secretary Kathleen Sebelius wrote America’s Health Insurance Plans (AHIP), the national association of health insurers, calling on their members to stop using scare tactics and misinformation to falsely blame premium increases for 2011 on the patient protections in the Affordable Care Act….

……The precise nature of the threat — as with so many threats — is not made entirely clear, so the legal analysis of the threat is also unclear. For instance, if the “zero tolerance for … misinformation” policy simply means that the government will respond to misinformation with public criticism, that is permissible.

But if the Administration is threatening to use its considerable regulatory power to retaliate against insurance companies that, in the Administration’s view, are conveying “misinformation” — for instance, because their financial analyses disagree with the Administration’s financial analyses — that strikes me as quite troubling.

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