Central Perk

duminică, 16 martie 2014

Mish's Global Economic Trend Analysis

Cameron's EU Treaty Wish List vs. Likelihood of Implementation; Did Cameron Lose His Mind? Election Carrots in Play?

Posted: 16 Mar 2014 06:43 PM PDT

UK Prime minister David Cameron has agreed to an up or down British vote on the EU but not until 2017 (conveniently after the next election in 2015).

Should Cameron lose the election, one can forget about the promise to hold an up-or-down vote.

Cameron's Telegraph Op-Ed

Cameron has other strings attached to the vote. Yesterday, after at least a year of promises to do so, Cameron outlined the changes he wants to the EU treaty in his Telegraph op-ed EU is Not Working and We Will Change It.

People are worried that Britain is being sucked into a United States of Europe; that may be what some others want, but it is not for us. They see decisions being taken far away, rather than by their elected representatives in Parliament. And they worry that European rules have allowed people to claim benefits without ever working here. As a result, democratic consent for Britain's membership has worn wafer thin.

And although it would not be a very smart negotiating tactic to lay all Britain's cards on the table at the outset, I know people want more detail about the specific changes we will seek. So I can confirm today that tackling these concerns will be at the heart of our approach.

Cameron's Wish List of Changes

National parliaments able to work together to block unwanted European legislation.
Businesses liberated from red tape and benefiting from the strength of the EU's own market – the biggest and wealthiest on the planet – to open up greater free trade with North America and Asia.
Our police forces and justice systems able to protect British citizens, unencumbered by unnecessary interference from the European institutions, including the ECHR.
Free movement to take up work, not free benefits.
Support for the continued enlargement of the EU to new members but with new mechanisms in place to prevent vast migrations across the Continent.
So, yes to the single market. Yes to turbo-charging free trade. No to ever-closer union. No to a constant flow of power to Brussels. No to unnecessary interference.
No to participation in eurozone bailouts or notions such as a European Army.

Proposal number 1 is straight from the looney bin. Cameron proposes setting up some sort of committee that can block EU regulations that the majority of countries in the EU want.

Proposals 2 and 6 limit the ability of the EU to set trade rules. If every country is free to create its own trade agreements, precisely what is the EU for?

Proposals 3, 4, 6, and 7 make perfect sense except for the fact that Germany and France and likely the rest of the EU would never agree to change the treaty along those lines.

Nowhere does Cameron specifically mention financial transactions or absurd tariff proposals, but arguably they are implied in points 1 and 2.

Yet, without specific written agreements on agricultural subsidies, financial transaction taxes, bailouts, and even the funding of a European army, eventually the majority is going to rule.

Europe is 'For Life', Francois Hollande tells David Cameron

Flashback December 14, 2012: Europe is 'for life', Francois Hollande tells David Cameron in EU Power Spat

The French President, Francois Hollande, declared that Europe is not "a la carte" like a menu from which member states can pick and choose their powers.

He issued his rebuke to the Prime Minister as Mr Cameron insisted he would fight for a "better deal for Britain" and seek to take back certain powers from Europe.

The Coalition is conducting a comprehensive review of all the powers that the EU has over life in Britain, ranging from business and employment rules to the criminal justice system.

The review will determine which powers Mr Cameron seeks to claw back from Brussels when the next EU treaty is written, setting out closer political and economic links between the 17 countries in the euro.

However, Mr Hollande indicated that he would attempt to block Mr Cameron's demands to "repatriate" powers in any proposed new deal for Britain.

Anything Changed Since Hollande's Message?

Has anything changed since December 2012? Not really. If anything, disagreements with Cameron have gotten more widespread.

Merkel Says She Cannot Satisfy All Britain's EU Wishes

February 27, 2014: Merkel Says She Cannot Satisfy All Britain's EU Wishes.

German Chancellor Angela Merkel told the British parliament on Thursday she was not prepared to promise fundamental reform of the European Union for London's sake, but said the bloc did need some changes and that Britain should not leave it.

In London for a one-day visit at a time when uncertainty about Britain's future in the EU is rising because of a promise by Prime Minister David Cameron to offer Britons an in/out membership referendum, Merkel suggested she was ready to go some, but not all the way, to meeting some of Cameron's demands.

"Some expect my speech to pave the way for a fundamental reform of the European architecture which will satisfy all kinds of alleged or actual British wishes. I am afraid they are in for a disappointment," Merkel said in English.

"Others are expecting the exact opposite and they are hoping that I will deliver the clear and simple message here in London that the rest of Europe is not prepared to pay almost any price to keep Britain in the European Union. I am afraid these hopes will be dashed," she added.

Instead, Merkel indicated that she would back Cameron's desire to clamp down on abuse of the EU's freedom of movement rules when it came to welfare benefits, partially back his drive to rein in the European Commission, and that Britain would have a chance – along with everyone else – to submit proposals for reform when deeper integration of the euro zone happened.

Likelihood of Implementation

If appears Merkel is in favor of changes on Cameron's wish list item numbers 4 and 5. That's it. Everything else is as Merkel says "Britain would have a chance – along with everyone else – to submit proposals for reform".

That means the UK would be subject to eurozone bailouts, funding a European army, inane agricultural tariffs, and even financial transaction taxes at the whim of a majority vote.

Germany and France want more powers, not less for Brussels.

Did Cameron Lose His Mind?

Does Cameron really believe he has any chance of getting what he wants from Germany and France, or is some other identifiable force in play?

What about election carrots?

Election Carrots

Cameron kicked off his Telegraph article with this message: "The British people now have a very clear choice: if you want a referendum on whether Britain should stay in the EU or leave, only the Conservative Party will guarantee to hold one. If I am Prime Minister after the election, I will negotiate a new settlement for Britain in Europe, and then ask the British people: do you wish to stay in the EU on this basis, or leave? I will hold that referendum before the end of 2017, and respect the decision."

Cameron does not want a vote now, he only promises one after he wins. Of course he might not win. But even if he wins, Germany and France will never agree with his proposals.

Question of Integrity

The likelihood of Cameron getting the changes he wants is precisely zero. Is it possible Cameron does not understand that?

To the extent Cameron is making an election carrot ploy, he is willing to let the UK make a major mistake if it slightly helps his election chances.

If so, that speaks tons about his integrity. Of course, there's always the possibility Cameron has lost his mind.

I believe both.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Crimea Votes Overwhelmingly to Rejoin Russia; Truce Until March 21; Goodbye Hryvnia, Hello Ruble; McCain Wants Military Aid for Ukraine

Posted: 16 Mar 2014 12:18 PM PDT

Crimea returns to Russia It's a done deal. Nothing can be done about it. An Exit poll shows Crimeans Choose to Join Russia in Vote

A majority of Crimeans chose to join Russia in a disputed referendum, exit polls showed, deepening the worst crisis between Russia and the West since the end of the Cold War.

A total of 93 percent voted today in favor of leaving Ukraine to become part of Russia, the Republican Institute of Social and Political Studies said, citing exit polls from the vote in the Black Sea peninsula. The Ukrainian government, the European Union and the U.S. all consider the referendum illegal. About 1.5 million Crimean voters were eligible to take part, according to the region's prime minister.

Goodbye Hryvnia, Hello Ruble

Crimea will switch to the Russian ruble and abandon Ukraine's hryvnia on April 1, RIA Novosti cited Crimean Deputy Prime Minister Rustam Temirgaliev as saying today.

McCain Wants Military Aid for Ukraine

The US senate's head-warmonger, John McCain said Obama is giving "serious consideration" to sending military aid to Ukraine. Connecticut Senator Chris Murphy, in an ABC interview, said the U.S. should pass "crippling sanctions" on Russia and help Ukraine rebuild its armed forces.

Biden Promotes US as World's Policeman

U.S. Vice President Joe Biden will travel to NATO members Poland and Lithuania tomorrow for talks on Ukraine, according to a White House statement. The Pentagon said last week it would send 12 F-16 aircraft to Poland as a sign of U.S. commitment to defend allies in the region; the U.S. previously sent six fighter jets to Lithuania.

Do US citizens support wasting tax dollars sending Aircraft to Poland? Of course not. Does McCain or the Republicans care about balancing the budget? Of course not?

Did Obama take down Guantanamo Bay, get all US troops out of Afghanistan or Iraq? Of course not.

In case you missed it, please see President Obama is the Biggest Fraud Ever Perpetrated on US Citizens (Fantastic Carey Wedler Video)

Support for war, spying, and for the US to waste money being the world's policeman is rampant in Congress, deficits be damned. But hey, don't worry Ukraine and Russia Agree to a 5-Day Truce.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Seth's Blog : Confidence is a choice, not a symptom

Confidence is a choice, not a symptom

The batter has already hit two home runs. When he gets up to bat for the third time, his confidence is running high...

It's easy to feel confident when we're on a roll, when the cards are going our way, or we're closing sales right and left. This symptomatic confidence, one built on a recent series of successes, isn't particularly difficult to accomplish or useful.

Effective confidence comes from within, it's not the result of external events. The confident salesperson is likely to close more sales. The confident violinist expresses more of the music. The confident leader points us to the places we want (and need) to go.

You succeed because you've chosen to be confident. It's not really useful to require yourself to be successful before you're able to become confident.

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sâmbătă, 15 martie 2014

Mish's Global Economic Trend Analysis

President Obama is the Biggest Fraud Ever Perpetrated on US Citizens (Fantastic Carey Wedler Video)

Posted: 15 Mar 2014 03:51 PM PDT

Several people sent me a video by Carey Wedler. I just played it. It's short, accurate, and one of the most powerful videos I have ever seen.

Please play it and pass it on.

Link if video does not play: Why I'm burning my last bridge with Obama.

President Obama promised "change you can believe in". As Wedler shows, people believed but there was no change.

I also recommend "I don't mind NSA spying, I have nothing to hide!"

Here are more More Carey Wedler Videos.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Vallejo Heads for Another Bankruptcy; Oakland, LA, San Diego Doomed as Well

Posted: 15 Mar 2014 12:29 PM PDT

On May 6, 2008, the Vallejo City Council voted 7-0 to file for Chapter 9 bankruptcy. At the time it was the largest city in California to do so.

In March of 2009 I noted Judge Rules Vallejo Can Void Union Contracts.

Vallejo foolishly refused to do so, and I predicted it would soon be back in bankruptcy over the same reason it went bankrupt in the first place: absurd union wages and even more absurd pension promises.

Sure enough, here we go again.

Vallejo Still Can't Afford its Pricey Pensions

CNN Money reports Once Bankrupt, Vallejo Still Can't Afford its Pricey Pensions

The California city of Vallejo emerged from bankruptcy just over two years ago, but it is still struggling to pay its bills.

The main culprit: Ballooning pension costs, which will hit more than $14 million this year, a nearly 40% increase from two years ago.

Amid threats of legal action from the state's pension giant, CalPERS, Vallejo did little during its nearly three-year stint in bankruptcy to stem the growth in its pension bills.

As a result, Vallejo continues to dole out large sums of money for retirees. Except for new hires, Vallejo's police and firefighters can retire at age 50 with as much as 90% of their salary -- for life. Public safety workers who retired in the last five years have average annual pensions of more than $101,000.

And the pension costs are expected to continue to rise, with a projected increase of up to 42% over the next five years.

Moody's recently warned that Vallejo's pension obligations could force it to file for bankruptcy protection a second time. The credit rating agency said the city offers a cautionary tale for two other California cities teetering on the brink: San Bernardino and Stockton.

"If we don't resolve those costs, then we're going to see services continue to suffer," said city manager Dan Keen, who has led the city since 2012. "We're going to have to cut somewhere."

A lot of cuts have already been made.

Vallejo's roads are littered with potholes. Three of its nine fire stations remain closed. And its police force is down by almost 40% -- though Keen says there are plans to hire more officers this year.

Crime has surged, with more than two dozen homicides last year, compared to only seven in 2006. Burglaries are also on the rise. Residents maintain neighborhood watch groups, but the crime is taking a toll.

"Some people in my neighborhood are voting with their feet and leaving Vallejo," resident Russell Zellers wrote in a 2013 letter to City Hall. "If things continue along the present course, I may not be far behind them."

I am not the only one who predicted another mess for Vallejo. Steve Greehut did the same. For details, see Vallejo's post-bankruptcy plight gets little notice in California's state capitol.

Only One Way to Resolve Costs

There is one and only one way to resolve costs: pension haircuts. Since the state will not allow pension cuts any other way, countless California cities are doomed to bankruptcy.

Oakland, LA, San Diego and numerous other cities are completely zombified by pensions. Eventually all of them will be forced to declare bankruptcy unless a way is found to otherwise reduce pension costs.

The citizens of Vallejo and all the other walking dead cities should not have to suffer through round after round of tax hikes, so a privileged few can retire at age 50 with 90% of top salary pensions for life.

Sooner or later one of these cities is going to do the right thing: smash CalPERS arrogance straight down CalPERS' throat via massive across the board pension cuts in bankruptcy.

A judge allowed Vallejo to do just that. Vallejo refused (most likely to protect the pension plans of corrupt city officials and friends of city officials).

Vallejo will get another chance soon enough to do what needs to be done.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Rewarding Hard Work by Strengthening Overtime Pay Protections

Featured

Weekly Address: Rewarding Hard Work by Strengthening Overtime Pay Protections

In this week's address, President Obama highlighted the action he took this week to reward hard work by strengthening overtime pay protections. As part of this year of action, the President has ordered the Secretary of Labor to modernize our country's overtime rules to ensure that millions of American workers are paid a fair wage for a hard day's work.

While our economy is moving forward, the middle class and those fighting to get into it are still struggling and too many Americans are working harder than ever just to keep up, let alone get ahead. So, in consultation with workers and business, the Obama administration will update and simplify the rules to reward hard work and responsibility.

Click here to watch this week's Weekly Address.

Weekly Wrap Up

Between Two Ferns: POTUS Edition

If you've been living under a rock, you might not know that President Obama sat down between two ferns to talk health care, Bradley Cooper, basketball, and more with Zach Galifianakis.

The President didn't hold back in the no-holds-barred interview. If you haven't already seen the special episode of "Between Two Ferns," or if you just want to watch it again, check it out on our blog.

On Thursday, President Obama signed a Presidential Memorandum directing the Department of Labor to update and modernize the nation's overtime pay system.

The new system will ensure that millions of our nation's salaried workers will have the protections of overtime pay.

Jennifer Lopez walked at eight months, and was climbing out of her crib at a year old. Alicia Keys was "an old soul" who could hear a song once and then play it. Jonah Hill flooded his elementary school. They also all thought they were invincible, like most young people do. How do we know? Their moms told us.

Sharon Feldstein, Patsy Noah, Terria Joseph, and Guadalupe Rodriguez (otherwise known as the moms of Jonah Hill, Adam Levine, Alicia Keys, and Jennifer Lopez) recently sat down to share why, as mothers, they think it's so important that everyone -- and especially young people -- make sure they're covered.

President Obama met with Prime Minister Arseniy Yatsenyuk of Ukraine earlier this week. The two leaders discussed finding a peaceful resolution to Russia's ongoing military intervention in Crimea that would respect Ukrainian sovereignty and territorial integrity.

They also discussed support that the international community can provide to help Ukraine confront its economic challenges, and the importance of uniting Ukraine and working to fulfill the aspirations of the Ukrainian people as they prepare for May presidential elections.

As always, to see even more of this week's events, watch the latest episode of West Wing Week:

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Seth's Blog : Most ramen is pretty good

Most ramen is pretty good

So is most pizza.

But people don't drive across town for "pretty good." They don't make lists of "most convenient to your dorm room" or "works fine if you're around the corner."

If you want us to travel, you have to choose to go beyond pretty good. If you want us to click, you need to give us a reason to leave the usual page and go to yours. And most of all, if you want us to talk about you, pretty good isn't going to get you there.

Pretty good is a choice. It works, often. But it doesn't change anything.

[PS If you are better than pretty good at marketing: Acumen is looking for a world-class marketer.]

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vineri, 14 martie 2014

Mish's Global Economic Trend Analysis

Harvard Professor Frankel Proposes "ECB Should Buy US Treasuries" to Fix Eurozone Problems

Posted: 14 Mar 2014 10:48 AM PDT

Jeffrey Frankel, a Project Syndicate columnist and professor at Harvard University's Kennedy School of Government says the ECB Should Buy US Treasuries.

The European Central Bank needs to ease monetary policy further. Eurozone-wide inflation, at 0.8%, is below the target of "close to 2%," and unemployment in most countries remains high. Under current conditions, it is hard for the periphery countries to reduce their costs to internationally competitive levels, as they need to do. If inflation in the eurozone as a whole is below 1%, the periphery countries are condemned to suffer painful deflation.

That paragraph alone makes it easy to see that Frankel is in academic wonderland. Europe could actually use falling prices. So could every other country on the planet. Ask any consumer if they want falling prices and the result would be close to unanimous.

As I have pointed out on numerous occasions, the idea that falling prices stop people from buying goods is as idiotic as it is well entrenched.

The question is how the ECB can ease policy, given that short-term interest rates are already close to zero. Most of the talk in Europe concerns proposals to undertake quantitative easing (QE), following the path taken by the US Federal Reserve and the Bank of Japan.

But QE would present a problem for the ECB that the Fed and other central banks do not face. The eurozone has no centrally issued and traded Eurobond that the central bank could buy. (And the time to create such a bond has not yet come.) By purchasing bonds of member countries, the ECB would be taking implicit positions on their individual creditworthiness.

The German Constitutional Court believes that the OMT scheme exceeds the ECB's mandate, though it has temporarily tossed that political hot potato to the European Court of Justice.

The legal obstacle is not merely an inconvenience; it also represents a valid economic concern about the moral hazard that ECB bailouts present for members' fiscal policies in the long term. That moral hazard – a subsidy for fiscal irresponsibility – was among the origins of the Greek crisis in the first place.

What, then, should the ECB buy if it is to expand the monetary base? For several reasons, it should buy US treasury securities. In other words, it should go back to intervening in the foreign-exchange market.

For starters, there would be no legal obstacles. Operations in the foreign-exchange market are well within the ECB's remit. Moreover, they do not pose moral-hazard issues (unless one thinks of the long-term moral hazard that the "exorbitant privilege" of printing the world's international currency creates for US fiscal policy). Finally, ECB purchases of dollars would help push down the euro's exchange rate against the dollar.

From there, Frankel jumps straight into the economic loony bin.

In this case we are talking about an ECB purchase of dollars that would change the euro money supply. The increase in the supply of euros would naturally lower their price. Monetary expansion that depreciates the currency is more effective than monetary expansion that does not, especially when, as is the case now, there is very little scope for pushing short-term interest rates much lower.

Monetary expansion by definition depreciates currency and distorts pricing mechanisms. Frankel continues ...

Depreciation of the euro would be the best medicine for restoring international price competitiveness to the periphery countries and reviving their export sectors.

Once again Frankel proves he does not understand the forces in play. The major problem in the periphery is lack of competitiveness with Germany and the Northern Eurozone countries. Affecting the exchange rate of the euro itself does nothing to correct those imbalances.

If abandoning the euro is not the answer, depreciation by the entire eurozone is.

Frankel keeps digging bigger and bigger holes.

Out of the blue he makes a statement akin to "If fishing is not the answer, then sending a spaceship to pluto is."

What if "fishing" is the answer?

In context, abandoning the euro is precisely the answer because that is the fastest way for the periphery to shed debt and regain competitiveness with Germany.

By now, readers can easily see the "Law of Bad Ideas" in play, specifically Corollary Number Four: The worse the idea, the more likely it is to be embraced by academia and political opportunists.

For a thorough rebuttal to the absurd notion that deflation is a bad thing, please see Monetarism, Abenomics, QE, and Minimum Wage Proposals: One Bad Idea Leads to Another, and Another.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Corrupt Politicians on the Take (Another Addition to the Law of Bad Ideas); Losing Respect for Governor Christie

Posted: 14 Mar 2014 09:16 AM PDT

Governor Chris Christie is damaged goods. Revelations regarding lane closures on the Washington Bridge peaked with a 'Very Sad' Chris Christie Apology. Yet, I suspect the final chapter on that sorry saga is not written.

To refresh your memory, as political revenge, a Christie aide ordered the closings of traffic lanes on the bridge, during rush hour, as political payback. Traffic was snarled for days. NewJersey.Com reports Fort Lee woman died as GWB closures delayed medical help.

Christie No Free Market Advocate

I do like how Christie has handled unions, but other Christie ideas have me shaking my head. For example, Tesla, NJ Governor Christie clash over direct sales to customers.

Tesla Motors Inc said New Jersey Governor Chris Christie's administration was pushing forward with a regulation that would hamper sales in the state by forcing the electric-car company to use dealers instead of selling directly to customers.

Tesla said on Tuesday the administration was undermining its model of selling cars, while the administration says Tesla has long known the company needed a law change to accommodate its sales model.

The New Jersey Motor Vehicle Commission introduced a rule in October that made explicit the need to have a franchise license to sell cars in the state, and that rule was due to be approved on Tuesday.

New Jersey would effectively be the third state to bar Tesla from selling its cars directly, along with Arizona and Texas, according to Tesla.

Why Franchises?

Why should anyone need a franchise to sell anything? If Tesla, Ford, GM, or any car maker wants to sell cars on Ebay, through Amazon, or their own online site, why should anyone care?

If the buyer and seller think it's OK, of what business is it to the state of New Jersey, Texas, or Arizona.

"It seems like Chris Christie is intent on driving traffic into New York with this decision," Northland Capital Markets senior analyst Colin Rusch told CNBC. "We're going to see folks coming into Pennsylvania or into New York."

Texas is certainly peculiar. What the hell are these states thinking?

Corrupt Politicians on the Take

As some may have guessed in advance, the answer is political cash contributions from car dealers.

Tesla doesn't use car dealerships. They sell directly to the consumer. No haggling, no upselling, no commission for employees, and uniform prices at every store. You just point to the car, say "I want that," and you buy it. It makes a lot of sense for Tesla. Customers don't like car dealers, and car dealers don't like electric cars, so why would you try to sell an electric car to a customer through a car dealership? It is capitalism – a producer of a good is responding to the incentives of the market.

But the car dealerships feared, perhaps correctly, that if Tesla Motors could sell cars directly to consumers, there would be no way to stop other car companies from selling directly to consumers. And they got their way because they bought the laws they wanted, laws which prop up their outdated business model at the expense of Texas consumers and innovative entrepreneurs.

Why? Well, the Texas Automobile Dealers Association lobbied hard against letting Tesla sell cars in Texas, spending $278,750 on Texas political campaigns – about 75% to Republicans.

In addition to the $278,750 from the TX Auto Dealers Assoc. Pac, the Texans for Public Justice website, shows $453,324 from Thomas Dan Friedkin of Gulf State Toyota, the $331,310 from Gulf States Toyota PAC, and $306,500 from B.J. 'Red' McCombs, of the Red McCombs Auto Group.

Corollary Seven to Law of Bad Ideas

I have no idea how much car dealers donated to Chris Christie. But I do know a bad idea when I see one.

And the above articles shows exactly how and why some bad ideas get implemented: campaign contribution bribes and political revenge.

It's time for another corollary to the Law of Bad Ideas.

Law of Bad Ideas Corollary Seven: Coercion, threats, bribes, political revenge, and campaign contributions to corrupt politicians on the take explain how some bad ideas become law.

For corollary six to the "Law of Bad Ideas", please see Monetarism, Abenomics, QE, and Minimum Wage Proposals: One Bad Idea Leads to Another, and Another.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

17 days left: Your letters

Hello, everyone --

President Obama gets thousands of letters every day from Americans around the country. As the Director of Presidential Correspondence, it's my job to make sure we sort and read everything you send in.

Because he can't get through every piece of mail you send him, the President asked us at the beginning of his presidency to set aside 10 letters each day for him to read. It's one way he likes to stay connected to what people across the country are thinking and care about. The President replies to some of your letters by hand, and forwards the ones that really move him to his senior staff -- a reminder of the people we're working to help every day.

You've sent in thousands of letters about how health coverage is making a difference in your life. How it's saving you money -- or saving the life of a loved one.

Those letters show some of the clearest reasons why it's so important for people to get covered before the March 31 open enrollment deadline. And now with just 17 days left, time is running out: We need your help getting your friends and family covered.

If health coverage has made a difference for you, help someone else get covered. Tell them to go to HealthCare.gov before March 31.

The bottom line is that health insurance is making a world of difference for a lot of folks out there.

It's making a difference for folks like Tracy from Tennessee -- who was able to get needed surgery this spring thanks to her coverage. She said, "I'm nobody special, but my surgery meant everything to me and my family."

It means so much to President Obama to hear stories like that from you. And I think it will mean just as much to someone else -- there's so much power in the words that you write.

There are just 17 days left to get covered in 2014. So if someone you care about needs health insurance, there's no time to waste.

It's time to get covered -- and if you know someone who needs to hear that message, will you forward this on?

Thank you,

Fiona

Fiona Reeves
Director, Office of Presidential Correspondence
The White House

duminică, 16 martie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

Seth's Blog : Confidence is a choice, not a symptom

Confidence is a choice, not a symptom

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sâmbătă, 15 martie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

Rewarding Hard Work by Strengthening Overtime Pay Protections

Seth's Blog : Most ramen is pretty good

Most ramen is pretty good

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vineri, 14 martie 2014

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis

17 days left: Your letters

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