Treasury dumping is starting…. China has unloaded some of their Treasuries, and the Swap rates between US Treasuries and other types of debt are starting to open up, signaling that the market believes the US Treasury will have to start paying more to borrow money.
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AT+T will book $1B in healthcare costs now that Obamacare has changed the tax treatment of Medicare subsidies. AT+T states it “will consider changes to the benefits it offers current and retired workers…”
Verizon has warned that the new tax will make the subsidy less valuable to employers and “may have significant implications for both retirees and employers.”
Debt will reach 90% of GDP by 2020.
Let the Unintended Consequences continue…