Crisis-level equity underweight and Friedman on single payer, minimum wage
The automotive scandal involving Mitsubishi grows larger and larger in Japan, as the company’s president announces his resignation. And analysts at Goldman Sachs downgraded global equities to “neutral” and suggested investors raise cash. Boom Bust host Ameera David reports. Then Boom Bust’s Bianca Facchinei details how smugglers made $6 billion from illegal migrant trafficking to the EU last year. Afterward, RT correspondent Ashlee Banks reports on how the Obama administration is now making millions of Americans eligible for overtime pay.
After the break, Edward Harrison sits down with Gerald Friedman, economics professor at the University of Massachusetts-Amherst. Gerald says that Obamacare only offers “mild tweaks” to the existing healthcare system. And he says that system is not based on free-market competition but on adverse selection, leading to poor outcomes. He also gives his view on the minimum wage. And in today’s Big Deal, Ameera and Edward discuss why the Saudis are using the oil weapon so aggressively and whether they will also resort to dumping US Treasury bonds. In addition, the two discuss Goldman’s call to rein in risk and raise cash.
Check us out on Facebook: