Monday, April 21, 2014

Forget Obamacare

Vermont wants to bring single payer to America

Saskatchewan is a vast prairie province in the middle of Canada. It�s home to hockey great Gordie Howe and the world�s first curling museum. But Canadians know it for another reason: it�s the birthplace of the country�s single-payer health-care system.

In 1947, Saskatchewan began doing something very different from the rest of the country: it decided to pay the hospital bills for all residents. The system was popular and effective � and other provinces quickly took notice. Neighboring Alberta started a hospital insurance plan in 1950, and by 1961 all ten Canadian provinces provided hospital care. In 1966, Canada passed a national law that grew hospital insurance to a more comprehensive insurance plan like the one that exists today.

Saskatchewan showed that a single-payer health-care system can start small and scale big. And across the border, six decades later, Vermont wants to pull off something similar. The state is three years deep in the process of building a government-owned and -operated health insurance plan that, if it gets off the ground, will cover Vermont�s 620,000 residents � and maybe, eventually, all 300 million Americans.

“If Vermont gets single-payer health care right, which I believe we will, other states will follow,” Vermont Gov. Peter Shumlin predicted in a recent interview. “If we screw it up, it will set back this effort for a long time. So I know we have a tremendous amount of responsibility, not only to Vermonters.”

When Shumlin ran on a single-payer platform in 2010, it was unprecedented. No statewide candidate � not in Vermont, not anywhere � had campaigned on the issue, and with good political reason. Government-run health insurance is divisive. When the country began debating health reform in 2009, polls showed single-payer to be the least popular option.

Shumlin just barely sold Vermont voters on the plan (he beat his Republican opponent by less than one percentage point). Then, he got the Vermont legislature on board, too. On May 26, 2011, Shumlin signed Act 48, a law passed by the Vermont House and Senate that committed the state to building the country�s first single-payer system.

Now comes the big challenge: paying for it. Act 48 required Vermont to create a single-payer system by 2017. But the state hasn�t drafted a bill that spells out how to raise the approximately $2 billion a year Vermont needs to run the system. The state collects only $2.7 billion in tax revenue each year, so an additional $2 billion is a vexingly large sum to scrape together.

Continue reading…

Wednesday, April 9, 2014

As Vermont Goes, So Goes the Nation?

When most liberals hear the words �third party,� they have nasty flashbacks to Ralph Nader�s spoiler campaign in 2000. The history buffs among them might think of the populist Greenback Party�s feckless protests against the gold standard in the 19th century or the five presidential campaigns of the Socialist Eugene V. Debs � the last of which, in 1920, he ran from prison.

Third parties seem out of touch with reality, the refuge of idealists with dreams too fragile for the trenches of major party politics. But Democratic skeptics, at least, shouldn�t be too quick to judge. One state is now on the way to single-payer health care, and a third party deserves much of the credit.

Three years ago, Peter Shumlin, the governor of Vermont, signed a bill creating Green Mountain Care: a single-payer system in which, if all goes according to plan, the state will regulate doctors� fees and cover Vermonters� medical bills. Mr. Shumlin is a Democrat, and the bill�s passage is a credit to his party. Yet a small upstart spent years building support for reform and nudging the Democrats left: the Vermont Progressive Party. The Progressives owe much of their success to the oddities of Vermont politics. But their example offers hope that the most frustrating dimensions of our political culture can change, despite obstacles with deep roots in American history.

Green Mountain Care won�t begin until at least 2017, but Vermont liberals are optimistic. �Americans want to see a model that works,� Senator Bernie Sanders told The Atlantic in December. (Mr. Sanders is an independent, but a longtime ally of the Progressives.) �If Vermont can be that model it will have a profound impact on discourse in this country.�

Before you dismiss that prospect as wishful thinking, consider: That�s how national health care happened in Canada. A third party�s provincial experiment paved the way for national reform. In 1946, the social-democratic government of Saskatchewan passed a law providing free hospital care to most residents. The model spread to other provinces, and in 1957 the federal government adopted a cost-sharing measure that evolved into today�s universal single-payer system.

It seems natural that America�s experiment in Canadian-style health care should begin in Vermont, a state with a long history of cross-border contact. In Derby Line, Vt., the border runs through the town library. Decades ago, pregnant women from Quebec often drove to Vermont to give birth, preferring American hospitals. Not anymore. When it comes to health care, two countries that share so much have diverged profoundly.

Between 1870 and the Great Depression, Americans and Canadians both worried about the growing gap between the mega-rich and the poor. Their disillusionment fueled the rise of dissenting parties. In Canada, the most successful of these, the social-democratic Cooperative Commonwealth Federation, won control of Saskatchewan in 1944. Canada never passed reforms to match the New Deal, and the C.C.F. capitalized on voters� frustration with the federal government�s inaction � just as liberals in Vermont are now doing.

It�s risky to compare 1940s Saskatchewan to Vermont today, but �Vermont has some of the features that Saskatchewan had in the 1940s and 1950s. It�s a rural state in which voices from the left have been more legitimate than in other parts of the country,� said Antonia Maioni, a professor of political science at McGill University in Montreal. �Saskatchewan was the last place where you would have expected to have this bold innovation. It was the poorest, most rural, most sparsely populated province. And yet it was the mouse that roared.�

The Vermont Progressives have only eight seats in the State Legislature, but they played a decisive role in the 2010 gubernatorial election. They promised not to play spoiler if the Democratic candidate supported single-payer health care. �Shumlin was very clear on his stance, and it pulled him through a narrow primary � a lot of Progressives were volunteers on that � and then he narrowly won,� Chris Pearson, a Progressive state representative from Burlington, told me. �He kept his promise.�

What explains the success of the Progressive Party? Vermont is small, and �it was expected that I�d knock on every door in my district,� Mr. Pearson said. �Progressives are dedicated to that style of campaigning. It�s also affordable. You can run a House race for $5,000.�

Despite their urban origins in Burlington, the Progressives have won crucial support from rural, traditionally conservative parts of the state, where lifelong Republicans have responded to the same argument that the Populists once used: Without regulation and a public safety net, capitalism will grind the independent farmer into the ground.

The trouble is that the Progressives have no national colleagues pressuring President Obama from the left. The Saskatchewan social democrats and their national successor, the New Democratic Party, forced the ruling Liberals to move left in the 1950s and 1960s as other provincial governments came to favor national reform.

American third parties face many obstacles in national elections, not least financial disadvantages and the ability of the major parties to co-opt dissenters by forming factions (in Canada, rules requiring tight party discipline mean insurgents like the Tea Partiers would probably have to form their own organizations).

But there is a deeper ideological reason. Canada inherited something else from Britain besides the Westminster system. It retained the full spectrum of English politics. This includes the socialist left and the Tory right � both traditions that, despite their differences, call for a strong central government and the restraint of individual liberty in the interest of the community.

The United States, by contrast, is a revolutionary state. The founders feared both kingly tyranny and the rule of the mob, and they bequeathed to us a political spectrum that is the narrowest in the Western world. With few exceptions, even left-wing dissenters have preached some version of free market ideology. The Vermont Progressives� promise to �promote cooperative, worker-owned and publicly owned enterprises� is a far cry from Debs�s demand that �the capitalist system must be overthrown.�

In times of crisis � during the Civil War, the Great Depression and World War II � Americans have tolerated a radical expansion of the role of government. Harry Truman tried to seize the moment in 1945 by pushing for universal health care, only to be stymied by conservative opponents and the American Medical Association.

American doctors succeeded where Canadian doctors failed (despite multiple doctors� strikes) because the American political system left individual politicians vulnerable to lobbying. They capitalized on the rhetoric of the Cold War, insisting that �socialized medicine� was one step short of Soviet tyranny. There is also no denying the ugly role that race played in this story: Too many white Americans have rejected reforms for fear that their tax dollars would help black Americans.

Yet the main lesson that Americans can learn from Canada is that political cultures can change. In 1950 Canada was, in many respects, a more conservative country than America, and each step of reform was hard-won. But as Canadians watched new policies produce results, skeptics became supporters. �Many policies that emerged in postwar Canada have changed Canadians� conception of their relationship to the state,� Professor Maioni told me. �Policies feed political culture.� If the Vermont experiment works, other states will follow. American pragmatism will trump ideology.

Friday, April 4, 2014

Top 10 Warren Buffett Stocks To Own For 2014

Top 10 Warren Buffett Stocks To Own For 2014: First Trust Health Care AlphaDEX Fund (FXH)

First Trust Health Care AlphaDEX Fund (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Health Care Index (the Index). The Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index. The AMEX constructs the Index by ranking the stocks, which are members of the Russell 1000 Index on growth factors, including 3, 6 and 12-month price appreciation, sales to price and one-year sales growth, and separately on value factors, including book value to price, cash flow to price and return on assets. The selected stocks are divided into quintiles based on their rankings and the top ranked quintiles receive a higher weight within the Index. The Index is reconstituted and rebalanced quarterly. The Fund's investment advisor is First Trust Advisors L.P. Advisors' Opinion:
  • [By David Fabian]

    Another interesting ETF that treads the line between passive and active investing in the healthcare field is the First Trust Health Care AlphaDEX Fund (FXH). This ETF is a smart beta strategy that screens healthcare stocks for book value, cash flow, and return on assets.

  • source from Top Stocks Blog:http://www.topstocksblog.com/top-10-warren-buffett-stocks-to-own-for-2014.html

Tuesday, April 1, 2014

Top 10 Performing Stocks To Own For 2014

Top 10 Performing Stocks To Own For 2014: First Bancorp (FBP)

First Bancorp is a bank holding company. The Company is a service provider of financial services and products with operations in Puerto Rico, the United States and the United States and British Virgin Islands. The Company has six segments: Consumer (Retail) Banking; Commercial and Corporate Banking; Mortgage Banking; Treasury and Investments; United States Operations, and Virgin Islands Operations. The Company specializes in commercial banking, residential mortgage loan originations, finance leases, personal loans, small loans, auto loans, insurance agency and broker-dealer activities. As of December 31, 2011, it controlled two wholly owned subsidiaries: FirstBank and FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency). FirstBank is a Puerto Rico-chartered commercial bank and FirstBank Insurance Agency is a Puerto Rico-chartered insurance agency. On February 16, 2011, FirstBank sold an asset portfolio consisting of performing and non-performing construction, comm ercial mortgage and C&I loans. The Company's total investment securities portfolio as of December 31, 2011 amounted to $2 billion. As of December 31, 2011, the Company had a total deposit of $9.9 billion. Effective May 31, 2011, the Company purchased FirstBank-branded consumer credit card portfolio from FIA Card Services, N.A. and an affiliate.

Consumer (Retail) Banking

The Consumer (Retail) Banking segment consists of the Company's consumer lending and deposit-taking activities conducted mainly through FirstBank's branch network and loan centers in Puerto Rico. Loans to consumers include auto, boat and personal loans and lines of credit. Deposit products include interest bearing and non-interest bearing checking and savings accounts, Individual Retirement Accounts (IRA) and retail certificates of deposit. Retail deposits gathered through ea! ch branch of FirstBank's retail network serve as one of the funding sources for the lending and inves tment activities. Credit card accounts are issued under Firs! tBank's name through an alliance with a financial institution, which bears the credit risk.

Commercial and Corporate Banking

The Commercial and Corporate Banking segment consists of the Company's lending and other services across a spectrum of industries ranging from small businesses to large corporate clients. FirstBank has developed expertise in industries, including healthcare, tourism, financial institutions, food and beverage, income-producing real estate and the public sector. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, and other products, such as cash management and business management services. A substantial portion of this portfolio is secured by the underlying value of the real estate collateral and the personal guarantees of the borrowers. The segment also includes the Company's broker-dealer activities, which are primarily concentrated in bonds und erwriting and financial advisory services provided to government entities in Puerto Rico.

Mortgage Banking

The Mortgage Banking segment conducts its operations mainly through FirstBank and its mortgage origination subsidiary, First Mortgage. These operations consist of the origination, sale and servicing of a variety of residential mortgage loan products. Originations are sourced through different channels, such as FirstBank branches, mortgage bankers and in association with new project developers. First Mortgage focuses on originating residential real estate loans, some of which conform to Federal Housing Administration (FHA), Veterans Administration (VA) and Rural Development (RD) standards. The Mortgage Banking segment also acquires and sells mortgages in the secondary markets. Most of the Company's residential mortgage loan portfolio! consists! of fixed-rate, fully amortizing, full documentation loans.

Treasury and Investments

The Treasury and Investments segment is responsib! le for th! e Corporation's treasury and investment management functions. The treasury function, which includes funding and liquidity management, sells funds to the Commercial and Corporate Banking segment, the Mortgage Banking segment, and the Consumer (Retail) Banking segment to finance their respective lending activities and purchases funds gathered by those segments and from the United States Operations segment. Funds not gathered by the different business units are obtained by the Treasury Division through wholesale channels, such as brokered deposits, advances from the FHLB and, repurchase agreements with investment securities, among others.

United States Operations

The United States Operations segment consists of all banking activities conducted by FirstBank in the United States mainland. FirstBank provides a range of banking services to individual and corporate customers primarily in southern Florida through its ten branches. The United States Opera tions segment offers an array of both retail and commercial banking products and services. Consumer banking products include checking, savings and money market accounts, retail certificates of deposit (CDs), Internet banking services, residential mortgages, home equity loans and lines of credit, automobile loans and credit cards through an alliance with a nationally recognized financial institution, which bears the credit risk. Deposits gathered through FirstBank's branches in the United States also serve as a funding sources for lending and investment activities in Puerto Rico. The commercial banking services include checking, savings and money market accounts, CDs, Internet banking services, cash management services, remote data capture and automated clearing house (ACH), transactions. Loan products include the traditional commercial and industrial and c! ommercial! real estate products, such as lines of credit, term loans and construction loans.

Virgin Island s Operations

The Virgin Islands Operations seg! ment cons! ists of all banking activities conducted by FirstBank in the United States and British Virgin Islands, including retail and commercial banking services, with a total of fourteen branches serving the United States Virgin Islands of St. Thomas, St. Croix, and St. John, and the British Virgin Islands of Tortola and Virgin Gorda. The Virgin Islands Operations segment is driven by its consumer, commercial lending and deposit-taking activities.

Advisors' Opinion:
  • [By Laura Brodbeck]

    Monday

    Earnings Releases Expected: UGI Corporation (NYSE: UGI), Yum! Brands, Inc. (NYSE: YUM), First Bancorp. (NYSE: FBP) Economic Releases Expected:  Indian services PMI, Spanish services PMI, Italian services PMI, German services PMI, eurozone services PMI, British services PMI, German CPI, US ISM non-manufacturing PMI

    Tuesday

  • [By Paul Ausick]

    First Bancorp (NYSE: FBP) is another Puerto Rican bank that gets the nod. The bank's asset divestitures are behind it and, like M&T, it is fundamentally sound. Sterne Agee's price target on the stock is $11.00, and the stock closed on Friday at $5.81 in a 52-week range of $4.27 to $8.70. The potential upside for this small cap bank is nearly 90%. The bank's forward multiple according to the analysts is 10.8 and the consensus forward P/E from Thomson Reuters is 11.17. Sterne Agee's EPS estimate for 2014 is $0.52.

  • source from Top Stocks Blog:http://www.topstocksblog.com/top-10-performing-stocks-to-own-for-2014.html