AUTHOR: TOWNE SCHERER.COM 06/15/2015: Towne Scherer Private Wealth Management BLOG: Eighty-eight Eritrean Christians were kidnapped by ISIS in Libya while President Obama “took heat (last) Monday for admitting he doesn’t yet have a complete strategy in hand for training Iraqis to fight the Islamic State,” according to FOX News. CBS NEWS also reported that “Obama went on to give a stern warning that if the Supreme Court rules against the system of subsidies holding up Obamacare, it ‘would be hard to fix.’” Adding on to this story, the Huffington Post reported that Obama said “the Supreme Court should not have taken up the challenge to the Affordable Care Act in King v. Burwell,” which some have suggested is a vailed attempt to tell the Supreme Court what to do. In economic news the House Democrats helped hand President Obama a big defeat by voting down his trade agreement with many still saying they don’t even know what’s in the agreement. Further, Bloomberg reports in this week’s news that solar panels may help California’s drought, that the Pope could turn U.S. climate politics upside down, that (there is) research that could push back a Fed September rate hike, that China leads a record $9 billion outflow from emerging stock funds, that the EU prepares for the worst as Greece drives finances to the brink, that the Iowa Straw Poll (went) down in flames while Bernie Sanders, Democratic candidate for president says, “it is time to redistribute money back to the working families of this country from the top one-tenth of 1 percent.” I thought we were already doing that. This week’s economic calendar brings us Jobless Claims and Retail Sales on Thursday and the Producer Price Index on Friday. And, finally, the web page, Positive News, reports that “the recent surge in fossil fuel divestment campaigns has not only given people a voice against the industry, but has boosted support for more sustainable alternatives. The same can happen with excessive negativity in themedia, argues Tom Lawson.” So negative news is positive when it’s against negative things for positive reasons…I’m confused.
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