Health Scare

(1) Monetary dissidents in San Francisco. (2) Two FRB-SF studies raise doubts about Fed’s ultra-easy policies. (3) Fiscal and monetary policies depressing recovery by increasing uncertainty. (4) QE’s bang-perbuck is minimal. (5) Esther George is a serial dissenter. (6) Obamacare boosts part-time jobs, depresses fulltime ones, and increases uncertainty. (7) Exchanges may not be ready for prime time. (8) Lots of inexperienced navigators without much training. (9) Get ready for lots of unintended consequences. (10) Focus on market-weighted S&P 500 Health Care.