by Greg Hunter
A key provision in Obama Care has been postponed. Didn’t I tell you even the strongest Obama supporters are worried about the damage this will cause in the economy? The Obama Administration abruptly postponed the “employer mandate” portion of the health care rollout. Employers were already cutting hours to 29 from 40 because they didn’t want to be forced to give health care to full time employees. Individuals are still going to be forced to buy health care insurance or get fined. Obama Care is still going to be a disaster to the economy; they’re just trying to lessen it until after the 2014 mid-term election. The Obama Administration is just putting off what even some prominent Democrats have called a “train wreck” so they will get hurt less in the upcoming election. My prediction–this is not going to save them.
The military coup in Egypt that ousted President Mohamed Morsi is just another sign of Middle East instability. The Army moved in and moved out Morsi amid massive protests to his year old presidency. The Muslim Brotherhood is now out of power and, at least for the near term, that is good news. Egypt’s economy is caught in a downward spiral that Morsi presided over. Tourism is off 30% or more because of Morsi’s hard line Islamist rule and massive ongoing protests. Just that has caused this economically hard hit country to take a least a $3 billion hit. Many of the original protesters say the Muslim Brotherhood hijacked the movement and traded one tyrant for another. The Army says it will have elections but no timetable was set.