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Why Bitcoin Scares Banks and Governments – The Guardian

Bitcoin offers an alternative to the conventional, state-sanctioned banking system. Maybe that’s why powerful institutions are so wary of it Among the many unpleasant discoveries made by those who stashed their cash in Cypriot banks is that the island’s government could stop them moving their money elsewhere. Capital controls are supposed to be a thing…

Ex-Fed chiefs run to form – Doug Noland

Ex-Fed chiefs run to form Commentary and weekly watch by Doug Noland CNBC’s Andrew Ross-Sorkin, March 15, 2013: ”The question of the morning: Do you want to break out the phrase again, ‘irrational exuberance’?” Alan Greenspan: ”No, I don’t think it’s quite appropriate in this type of environment. In fact, a basic way of looking…

Medicare cost growth has slowed, and is already BELOW post-Simpson-Bowles cut level…

Surprise, surprise: the GOP used overly-pessimistic estimates, in order to justify ending Medicare

http://newsatjama.jama.com/2013/02/21/jama-forum-the-forecast-slowdown-in-medicare-spending-is-more-coming/

The biggest news was the “baseline”—defined as the CBO’s projections of federal revenues and spending assuming current laws remain unchanged. As has happened annually since 2010, the CBO lowered its forecast of federal health spending growth, independent of any policy action. Medicare and Medicaid costs combined are expected to be 15% lower in 2020 than was forecast just 3 years previously. In dollars, the savings for Medicare over the next 7 years are nearly $400 billion, about two-thirds as much as the revenue from the expiration of some of the high-income tax cuts that happened this January.

Italy And “Ro, Ro” – Doug Noland

Italy And “Ro, Ro” Commentary and weekly watch by Doug Noland Last week saw a relatively quiet Monday, with the Dow flirting with all-time highs. Initial reports from the Italian election had the front-running coalition, led by Pier Luigi Bersani, coasting to victory. Italian 10-year bonds were rallying sharply, with yields sinking as much as…