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Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Friday, April 29, 2016

STOCKS SLIP: Here's what you need to know

[China slip fall soldiers]REUTERS/China Daily Stocks fell for the second straight day on what was April's final trading day, though the averages closed well off their lows. The Dow and the S&P 500 ended with month with modest gains while the tech-heavy Nasdaq slipped. First, the scoreboard: * DOW: 17,773.6, -57.1, (-0.3%) * S&P 500: 2,065.3, -10.5, (-0.5%) * NASDAQ: 4,775.4, -30, (-0.6%) * WTI CRUDE OIL: $45.98, -0.1% US ECONOMY It was a very busy week for the US economy and Friday capped the week with four headline data reports. The latest report on income and spending was mixed, with this report's big news coming from the "core" PCE measure, an alternate measure of inflation preferred by the Fed, that showed consumer prices rose 1.6% over the prior year in March. The Fed is targeting 2% inflation.  Also out Friday morning was the first quarter's employment cost index — a more complete measure of worker compensation that includes both wages and benefits paid to workers. The ECI rose 0.6% in the first quarter, in-line with expectations and showing that meaningful increases in wages still remain elusive in the US economy. Compared to last year, the ECI was up just 1.9%.  "Wage growth is currently lower than it was five years ago and lower than in March 2015," said BNP Paribas economist Laura Rosner following the report. "There has been essentially no progress [on wage growth] according to this preferred metric." The final reading of consumer confidence in April from the University of Michigan missed expectations, coming in at 89.0 against expectations for a reading of 90. Most of the drop in the report's composite index was attributed to a decline in consumers' expectations for the economy.  The MNI/ISM Chicago PMI report showed manufacturing activity in the Midwest expanded in April, but at a slower rate than the prior month. VALEANT Valeant finally released its annual report just in time to avoid a potential default of some of its debts. And this report was just full of goodies. The embattled pharmaceutical company revealed that it's facing investigations in four states — North Carolina, New Jersey, Massachusetts, and New York — while the ad hoc committee of its board found "material weaknesses" in its financial statements. "These material weaknesses relate to the tone at the top of the organization and the accounting and disclosure for non-standard revenue transactions particularly at or near quarter ends," the company's filing said, just in case you were unsure who got thrown under the bus here. Elsewhere in Valeant news, the company also announced its five nominees that will stand for election to its board of directors while former-CEO-to-be Mike Pearson will step down from his board seat on Monday and not stand for re-election. But don't worry: Pearson made $143.1 million last year. But amid all of Friday's hoopla about Valeant finally _filing_ its annual report, Linette Lopez points us to the company's patient assistance program as perhaps the most important disclosure in said report. These programs, in effect, enable Valeant to get certain drugs to its customers and recoup whatever insurance will cover. These programs are what New York and Massachusetts officials want to know more about. AMAZON On Thursday afternoon, Amazon reported the most profitable quarter in its company's history, earning $513 million in the quarter. The main driver? Amazon Web Services, its massive cloud business that grew 64% in the first quarter as revenues totaled $2.57 billion for this business. On Friday, shares of Amazon jumped nearly 10%, which is good for Jeff Bezos, who is now about $6 billion richer on paper. In a note to clients following the results, Mark Mahaney at RBC Capital Markets said, "Amazon is generating accelerating revenue growth & record high margins. And we believe these trends to be sustainable, because: a) Amazon’s two key end-markets (retail and cloud computing) are only 10% penetrated; b) the competitive moats around Amazon are getting deeper due in part to sheer scale; and c) Amazon’s execution is excellent." Mahaney added, "If Q4 was the correction buying Amazon quarter, then Q1 is the inflection buying Amazon quarter." So: he's bullish; Mahaney now has an $800 price target on shares. STOCKS, ECONOMY Julian Emanuel at UBS isn't crazy about what's happening in markets right now.  In a note to clients on Friday, Emanuel said that with the Federal Reserve's first rate hike out of the way and indications that we'll see more rate increases before this tightening cycle is over, the seeds have been sowed for the stock market's run to end.  Two worrying things that stand out to Emanuel were the decline in merger activity in the first quarter of the year and the rotation into financial stocks from bond-like replacement stocks like consumer staples and utilities. Both of these trends were present as the market topped out in 2000 and 2007.  Jim Bianco, one of the most widely-followed contrarians on Wall Street, said in an interview that our new world of negative interest rates creates a situation in which no one — investors, savers, policy makers — knows what the impact of these new policies are. Which, in Bianco's view, sets us up for a potential "accident." Bianco didn't expand on what an accident might be, you can imagine: probably not good.  On the economy, Warren Buffett spoke in Omaha ahead of Saturday's big Berkshire Hathaway annual meeting and was clear that not a whole lot going on inside the US economy right now excites him.  ADDITIONALLY China's housing bubble is starting to look like the US before the crash.  A new retirement crisis for Baby Boomers.  ZeroHedge is three people. Well, now two.  The Kasich-Cruz deal to stop Trump is dead. Twitter investor Chris Sacca thinks Mark Cuban will be elected president... of the United States. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


READ THE ORIGINAL POST AT www.businessinsider.com

14 stunning facts about Warren Buffett and his wealth

14 stunning facts about Warren Buffett and his wealth NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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The Refugee Crisis in the GREEK Islands: Dog Days on Samos

This week the police fired tear gas in the Moria Camp on Lesvos to control the refugees who were protesting the visit of a GREEK and Dutch minister.


READ THE ORIGINAL POST AT www.globalresearch.ca

Greece removes refugees from Athens due to tourist rush

The Greek government is moving thousands of refugees from camps in central Athens to new settlements on the city's outskirts to prepare for the arrival of tourists. Greece expects 23 million visitors this year, who are expected to bring in about $20bn in ...


READ THE ORIGINAL POST AT www.aljazeera.com

Traffic at Kulata crossing at Bulgaria-GREECE border busy

Sofia. Car and heavy goods vehicle traffic at the Kulata crossing at the Bulgarian-Greek border is busy, the press centre of the Ministry of Interior ...


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A rejuvenated Iggy Pop rages at the Greek Theatre

A friend wrote that on his Facebook page in the afterglow of the venerable Mr. Pop’s fantastic show at the Greek Theatre on Thursday, part of his current tour behind “Post Pop Depression,” Iggy’s rejuvenating collaboration with Josh Homme of Queens ...


READ THE ORIGINAL POST AT www.ocregister.com

Czech Republic sends 29 police to GREECE over migrant crisis

Twenty-nine Czech police officers Friday took off from a military airport in Prague Kbely for the Greek island of Lesbos to help tackle the migrant crisis.


READ THE ORIGINAL POST AT www.cihan.com.tr

U.S. Foreign Policy Got In The Way Of Helping GREECE, Greek Ex-Official Says

The United States did not pressure Germany more heavily to give GREECE debt relief because it needed Germany's cooperation in higher-priority ...


READ THE ORIGINAL POST AT www.huffingtonpost.com

Inside the £19500-a-night luxury GREEK holiday villa: Aman retreat with nine bedroom suites and ...

Two hours from Athens, Amanzoe resort is spread over 237 acres with Villa 20 the largest in the portfolio. It's available to rent from £11,700 a night.


READ THE ORIGINAL POST AT www.homesandproperty.co.uk

GREEK central banker: Greece is close to a deal with its lenders

An agreement between Greece and its international lenders is a matter of days, Bank of Greece governor Yiannis Stournaras said on Thursday, ...


READ THE ORIGINAL POST AT www.tornosnews.gr

Europe's 'Hot Spot' Refugee Registration Centers Are 'Concentration Camps,' Says GREEK ...

We speak with former GREEK Finance Minister Yanis Varoufakis about the refugee crisis in Europe, and so-called hot spots that are registration centers ...


READ THE ORIGINAL POST AT www.alternet.org

Feed your GREEK craving at these Atlanta restaurants

Feed your GREEK craving at these Atlanta restaurants. 12:00 p.m. Friday, April 29, 2016 | Filed in: Food. Comments 0. Food. Cafe Agora. Becky Stein.


READ THE ORIGINAL POST AT www.accessatlanta.com

What Is Pascha? Ahead Of Orthodox Easter 2016, Russian, GREEK And Other Eastern Churches ...

Unique traditions from colorful eggs to palm fronds mark the holiday that some refer to as Pascha from the GREEK transliteration. Easter Orthodox ...


READ THE ORIGINAL POST AT www.ibtimes.com

Holy Thursday Services in Upper Darby, PA

Holy Week continues for the Greek Orthodox faithful and all those observing the week leading up to Pascha. The Holy Thursday services of the Sacred Passion and Crucifixion of Our Lord were held at St. Demetrios Greek Orthodox Church in Upper Darby, PA and churches around the world. The service includes the reading of the […]


READ THE ORIGINAL POST AT www.thenationalherald.com

Jim Bianco thinks negative interest rates could cause an 'accident' in global markets

[Screen Shot 2016 04 29 at 1.51.21 PM]Jim Bianco is ill at ease with the state of global financial markets. In an interview with Swiss business publication Finanz und Wirtschaft, Bianco said negative interest rates have brought us into a world that simply makes no sense. Bianco — who runs Bianco Research out of Chicago — said, "We're still all trying to feel around in the dark as to what [negative rates] mean. AND THAT MEANS THE CHANCE OF AN ACCIDENT IS VERY HIGH." As Bianco outlines, right now no one is issuing negative rate mortgages or negative coupon bonds where the creditor would literally pay the borrower to take their money. And so in effect, negative interest rates don't exist outside a small corner of the financial world, and it's not clear what good they're doing there, either. Negative rates are also part of a new world for markets in which the size and complexity of Wall Street's biggest banks make the system impossible to fully understand. "At our offices, we laugh about a running joke: Every time somebody talks about large financial institutions there are only two answers to any question," Bianco, one of Wall Street's most widely-followed contrarian strategists, said. "Either you respond, 'I don't understand because it's too complicated,' or you're lying." Bianco added, "When people start picking through JP Morgan's balance sheet nobody understands it. The complexity of these institutions is beyond the comprehension of the human mind. SO AM I CONCERNED ABOUT THE FINANCIAL SYSTEM? YES." _READ THE FULL INTERVIEW HERE »_ NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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Greek life participants should clean up act in age of social media

Our world is more transparent than ever. Every picture we take, message we send, or stupid answer we Google is accessible somewhere, someway, somehow through the interwebs. Every password can be cracked and every website can be hacked. With every online ...


READ THE ORIGINAL POST AT miamistudent.net

Town Board adopts toughest vacant, abandoned property regulations in area

GREECE Town Supervisor Bill Reilich recently announced that the Town Board has adopted the toughest ordinance in the area to deal with the issue of ...


READ THE ORIGINAL POST AT www.greecepost.com

Brussels works on effective mechanism that will not hinder GREEK economy

The GREEK authorities and the institutions have made significant progress on the complete package of measures that will pave the way for discussion ...


READ THE ORIGINAL POST AT www.tornosnews.gr

(Photos) Chicago Elementary School Students Learn GREEK Tradition of “Tsougrisma”

Tia explained to the first graders the story of why GREEKS dye their eggs red at Easter and explained the tradition of cracking, which one by one each of ...


READ THE ORIGINAL POST AT www.pappaspost.com

Enjoy sun, sea and history on an island-hopping cruise to GREEK and Turkish ports on the Aegean ...

CHECK out this whistle-stop, three-day voyage to the eternally popular GREEK islands Mykonos, Santorini and Patmos, as well as Kusadasi in Turkey.


READ THE ORIGINAL POST AT www.dailyrecord.co.uk

Turkish Coast Guard threatened to arrest fisherman sailing in Greek territorial waters

A patrol boat of the Turkish Coast Guard patrol boat threatened to arrest a Greek fisherman sailing in Greek terrirotail waters off the islands of Oinousses near Chios. Only the intervention of a gunboat of the Greek Navy managed to avert a real escalation between the two countries. Turkey has […]


READ THE ORIGINAL POST AT www.keeptalkinggreece.com

Greece says International Monetary Fund demands are undermining an accord

Talks between Greece and its lenders have nearly reached a conclusion on reforms agreed within the current bailout program, while more negotiations are needed on further contingency measures that Athens must commit to in exchange for debt relief negotiations.


READ THE ORIGINAL POST AT youngherald.com

Migrant And Refugee Children Find A Home In Greece's Intercultural Schools

ATHENS, Greece -- Behind the gate of the schoolyard in Athens’ Nea Ionia neighborhood, a group of children, dressed in colorful t-shirts and jackets, laugh loudly. When the gate opens, two little girls with braided hair look outside curiously. “He is a ...


READ THE ORIGINAL POST AT www.huffingtonpost.com

Journalist sneaks footage of migrant unrest in Greek 'detention centre'

A radio journalist radio managed to enter a closed migrant detention centre on the Greek island of Lesbos, in the Aegean Sea, where he filmed disruptive protests from asylum seekers afraid of being sent back to Turkey.


READ THE ORIGINAL POST AT www.france24.com

Washington Pushes for New Greek IDs by 2017

Washington gave Athens a deadline until April 2017 to retrofit all IDs in order to avoid Greece’s expulsion from the Visa Waiver Program for Greek citizens who travel to the US. The decision is already in action since April 1. In order for Greece to remain in the Visa Waiver Program even after April 2017, the security characteristics


READ THE ORIGINAL POST AT greece.greekreporter.com

GREECE: Baby Food Market Overview Research Report: Hexa Reports

“Baby Food in GREECE” is an analytical report by Canadean which provides extensive and highly detailed current and future market trends in the ...


READ THE ORIGINAL POST AT www.pressreleaserocket.net

Former Finance Minister Of GREECE Talks About The Future Of The Global Economy

A demonstrator waves a Greek flag during a rally organized by supporters of the YES vote to the upcoming referendum in Athens, Tuesday, June 30, ...


READ THE ORIGINAL POST AT www.wbez.org

Warren Buffett explains why a good business is one 'your idiot nephew' could run

Warren Buffett explains why a good business is one 'your idiot nephew' could run Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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Groupon tumbles after weak revenue guidance (GRPN)

[A man looks at an ad as he walks past a bus stop near Groupon Inc corporate headquarters in Chicago, Illinois, November 4, 2011. REUTERS/Frank Polich] Groupon shares fell by as much as 17% on Friday after the company released revenue projections that were weaker than analysts expected.  In its earnings results Thursday, Groupon said it expects 2016 sales of $2.75 billion to $3.05 billion. That fell short of the average estimate for $3.01 billion. The low end of the forecast was less than the weakest analyst estimate of $2.09 billion, according to Bloomberg.  Groupon also reported a first-quarter loss of $49.1 million, or $0.08 per share — four times the loss it recorded a year ago. The company replaced its CEO in November as it figured out ways to keep people interested in its daily deals and visit its site. It announced plans to increase marketing spending by up to $200 million this year, and cautioned about weaker-than-expected fourth-quarter earnings.  After that announcement, the company's shares fell 30%. But the bigger marketing budget may be producing some fruit. Groupon said it added 955,000 active customers in North America, the biggest quarterly increase in two years.  The drop in shares on Friday was the biggest intra-day decline in six months. [Screen Shot 2016 04 29 at 12.24.15 PM] Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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China's housing bubble is starting to look a lot like the US in 2006

[china bubble] China's property market is staging a major turnaround as property prices in tier 1 cities have heated up quickly over the past few months. For the first quarter, residential prices in Shenzhen are up nearly 80% year-over-year, while those in Shanghai were up by roughly 65%, according to figures cited by Capital Economics analysts. And the surge in residential property sales throughout 2016 has been driven by the loosening of some purchase restrictions at local levels, and rate cuts, which have reduced mortgage costs by a significant amount. In the short run, this is good for growth. Already, China's GDP breakdown showed an uptick in real estate-related services in the first quarter, as the analysts at Capital Economics observed. However, not everyone's jazzed about what's going on. [Screen Shot 2016 04 29 at 11.18.00 AM]"Some are concerned that the rapid pick-up in sales signals a return of speculative behaviour perhaps linked to the inflation of a property bubble," wrote Capital Economics' Mark Williams and Julian Evans-Pritchard in a recent note to clients. "In particular, there are concerns that these rapid price gains are the result of a relaxation in lending standards that has echoes, some suggest, of the run-up to the subprime mortgage crisis in the US," they continued. Notably, the Capital Economics duo, suggests that there is some truth to these worries. As they explained in their research note (emphasis ours): "There have been cases of buyers skirting mortgage restrictions and borrowing to cover down-payments. What’s more, prices are extremely stretched in some cities. OUR CALCULATIONS SUGGEST THE RATIO OF PRICES TO AVERAGE INCOMES IN SHENZHEN HIT 76 AT THE END OF LAST YEAR, EVEN BEFORE THE LATEST SURGE IN PRICES. This figure isn’t directly comparable with equivalent ratios for other parts of the world since the data we have for China only cover sales of new property which are skewed towards the luxury end of the market. BUT EVEN BY THE CITY’S OWN STANDARDS THE RATIO IS WORRYINGLY HIGH AT ALMOST TWICE THE 15-YEAR AVERAGE. A SHARP CORRECTION IN PRICES AT SOME POINT SEEMS LIKELY." Moreover, interestingly, a report from Bloomberg News from early March noted how "leveraged speculators are snapping up homes in top-tier cities [in China] in hopes that prices will keep surging." [Screen Shot 2016 04 29 at 11.28.24 AM]“People are a bit crazy in this market, but what can you do?” Liu Yihui, a 35-year-old civil engineer who took on a mortgage to buy an an apartment in Shenzhen as an investment property that he is renting out, told Bloomberg News. “Stock returns were terrible, so I made up my mind to put my money in real estate.” For what it's worth, Warren Buffett previously explained the reasonable herd-mentality behind the US' housing bubble, quoting Benjamin Graham: "You can get in a whole lot more trouble in investing with a sound premise than with a false premise." "...if you really believe that houses are going to go up in value, you buy one as soon as you can," Buffett told the FCIC. "And the price action becomes so important to people that it takes over the — it takes over their minds." That being said, this doesn't mean that China's on the precipice of total collapse, the Capital Economics team argued. [Screen Shot 2016 04 29 at 12.44.53 PM]For starters, prices have only risen in China's tier 1 cities — and in a couple of tier 2 cities — not in all of China.  Second, although the down-payment requirements have been eased, mortgages are still pretty hard to get, they write. Also, somewhat interestingly, Williams and Evans-Pritchard note that even though there are differences in price spikes across the cities, there's not a whole lot of difference when it comes to demand. As such, the duo writes that the price differences seem to reflect differences in supply. "The upshot is that while rapid prices in a few cities where supply is tight have been widely publicized, the real story for the lion's share of the country's property market is that stronger demand is helping to absorb excess supply without prices becoming a major concern," they wrote.  "That should be viewed as a positive development." SEE ALSO: WARREN BUFFETT BRILLIANTLY EXPLAINS HOW BUBBLES ARE FORMED Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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Oil rig count falls for 6th straight week (USO, WTI, OIL, VDE)

The US oil rig count fell by 11 to 332 this week, according to driller Baker Hughes.  Last week, the oil rig count fell to a new six-year low, by 8. It was the fifth straight weekly decline. The gas rig count fell by 1, and the total rig count was down 9 to 431.  When Baker Hughes released its quarterly earnings on Wednesday, it said it expects the North American rig count to stabilize in the second half of this year. It also cautioned that this doesn't mean drilling activity will meaningfully increase.  Crude oil prices advanced steadily over the past week, gaining about 7% through Friday. Ahead of the rig count data release, West Texas Intermediate crude futures in New York were down 0.5% and near $45.80 per barrel. Refresh this page for updates.  SEE ALSO: THE OIL CRASH CAUSED EXXON TO REPORT ITS WORST PROFIT SINCE 1999 Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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Phoenixville Man, Vet of Greek Navy, Dies At 101

PHOENIXVILLE, PA-- Alexandros P. Colyvas, age 101, husband of the late Mary S. (Katsimigas) Colyvas, of Mont Clare, PA, passed away on Sunday, April 17, 2016 in the Seasons Hospice, Phoenixville. Born on August 5, 1914 in Ithaki, Greece, he was a son of ...


READ THE ORIGINAL POST AT patch.com

The Greek grows his playland with more facilities in Monroe

To ensure his dream of Greek Playland's immortality, the Greek is building a new banquet hall. The year-round Bamboo Palace aims to open in 2017. The Bamboo Palace will join The Stone Museum and Garden Falls as part of the Greek's Playland complex.


READ THE ORIGINAL POST AT www.mycentraljersey.com

2 clear signs the stock market 'endgame' is approaching (SPX, SPY, DIA, QQQ, IWM)

Is this the top? In a note to clients on Friday, UBS strategist Julian Emanuel thinks a few signs point to the "endgame" for stocks coming into view.  The basic outline is that once the Fed starts raising interest rates, the wheels are set in motion for the stock market to go lower.  Emanuel notes that both the 2000 and 2007 stock market sell-offs have been preceded by a collapse in merger activity and a rotation into financial stocks and out of from utility and consumer staples.  And recently, the same themes have been playing out in markets, and it has Emanuel nervous.  "And while age alone does not portend the definitive end of a Bull Market," Emanuel writes, "the current rally, at 2,611 days, is now the second longest in modern history, behind only the 1990-2000 bull market. "Yet the current milestone comes just as 'Signs of The Top' become clearer – a surge in M&A activity in 2015 exceeding the heady days of 1999-2000 and 2007 followed by a lull in deal-making catalyzed by extreme market volatility, ending in the largest quarterly rebound since 1933, from -11.4% to close the quarter +0.8%." [Screen Shot 2016 04 29 at 10.55.34 AM]UBS Mergers are seen as perhaps the clearest sign that investors and corporate managements are confident in the current market and economic cycle. You could perhaps see merger activity as the corporate equivalent of a consumer confidence survey.  Additionally, markets have seen a rotation into financial stocks — which are expected to benefit from higher rates — and away from consumer staples and utilities, which are often big shareholder return stocks that supplement fixed income in times of low rates.  Emanuel again: The equity market volatility comes on the heels of the Fed's first rate hike in 9 years, on 12/16/2015, with the first hike in the cycle traditionally being the demarcation point for the 'countdown to the bull market peak' with an intervening 'time to the top' of as short as 8 months to as long as 41 months post the first hike. The leadership change of recent weeks, into Financials and away from Utilities and Staples is reminiscent of the last stages of the 1999-2000 bull market top. [Screen Shot 2016 04 29 at 10.55.55 AM]UBS And so simply put, two things are happening in markets right now that have historically preceded the end of big bull market runs.  Now, despite the warning signs coming from the market, Emanuel still thinks we'll see new highs in the stock market this year with his year-end price target for the S&P 500 sitting at 2,175. On Friday morning, the S&P 500 was trading at around 2,060.  And as Emanuel notes, stocks usually do go higher after the beginning of an interest rate increase cycle. But it is this interest rate increase that puts the eventual demise of the market in plain sight.  NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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Even with the nation's largest insurer leaving, Obamacare is nowhere near dead

[obama smile tux]Brendan Smialowski/Getty Obamacare was dealt a huge image blow on April 19 when United Healthcare announced that it was pulling its plans from all but a "handful" of the state exchanges set up by the Affordable Care Act. Despite United Health's move, however, any idea that it could be the end of the ACA is greatly exaggerating the impact. As we've noted before, for many consumers there should be very little increase in premiums or choice on the exchanges. So those shopping for health coverage on the exchanges will likely not even notice. The longer-term worry, according to Cynthia Cox of the Kaiser Family Foundation, would be that it could create a question over the viability of the exchanges. "The biggest question for everyone is 'How does this change the game?'" Cox, a researcher at the nonpartisan firm, told Business Insider. "What this says about the exchanges more broadly could have more effects on the market down the road." How the future of the it plays depends on three groups: insurance companies outside of United Health, possible enrollees, and politicians. While Cox said it's hard to calculate the exact moves of these groups, in the end the viability of the law probably isn't in question. "There are some signs that [Obamacare] is going to be sticking around for awhile," said Cox. INSURANCE COMPANIES The biggest long-term fear after the United Health departure is that other insurers would also exit the exchanges, leaving little competition and making the exchanges incredibly unattractive for consumers. "It's obviously symbolic for United to exit the exchanges," said Cox. "Their withdrawal raised the question of whether or not other companies were going to drop out." Based on the response immediately following the exit, however, Cox doesn't se any other businesses ditching the ACA. [doctor patient]Brendan Smialowski/Getty Other large insurers such as Cigna and Anthem expressed their commitment to the marketplace. Centene, which covers more than 10 million nationwide, is actually going to invest further into the programs after making a solid profit from the exchanges. "Even a smaller insurer like Wellcare is possibly getting into exchanges in places like Iowa now that United is out," said Cox. "It's almost like one door closing and a number of other doors opening in terms of insurance companies." Even United Health itself may come back to the exchanges according to Cox. One of the biggest problems was that the company was offering higher cost plans in the exchanges, which are very sensitive to price.  "It may be that United takes a year or two to re-do their model and the re-enter after they develop lower cost, competitive plans," said Cox. Strike doom and gloom for insurance companies off the list. EVERYDAY AMERICANS The second domino that is concerning is the possibility that fewer people see the exchanges as a real option. Enrollment numbers are already underwhelming, and the worry is that even more people won't enter the exchanges since there will be fewer options after United Health departs.. "One possible thing to consider is that enrollment isn't getting to its targets already," said Cox. With undershot enrollment already and possible discouragement, this could make the exchanges less profitable for companies, causing them to pull out like United Health. Or as Larry Levitt, a Senior Vice President at Kaiser, wrote in a recent blog post: Aside from investors, few people are likely to shed tears over insurance companies losing money.But they should, since the availability of affordable insurance is key to the success of the marketplaces and the ACA more generally. Unlike UnitedHealthcare, the health insurance marketplaces are core markets for these BCBS plans, so they’re likely to stick around. However, the losses suggest that bigger premium increases may be coming for 2017 The thing is, United Health only insures a little over 700,000 of the 10 million people on the exchanges, and is not in a large number of markets. Also, a large majority of areas still have three or more insurers to choose from. [Screen Shot 2016 04 29 at 11.42.22 AM]Brendan Smialowski/Getty In terms of the low existing enrollment, Cox believes that a combination of continued outreach by the government and private companies along with a little financial pain will spur more sign ups. "The full penalty from the mandate hasn't hit yet," said Cox. "It won't be until this year that people will pay the full penalty for not having health insurance, and even then it doesn't show up until their taxes in 2017 after the enrollment period is over." Even analysts at Citi believe that the penalties and other incentives to sign up will drive enrollment, and say it could be a "profitable end market" for many insurers. [obamacare protest]Brendan Smialowski/Getty POLITICIANS The real x-factor here is the political risk. Republicans have been clamoring for a repeal to Obamacare almost as soon as it was passed, and with an election on the way it is only going to get louder. "There's certainly a political risk there," said Cox. "About half the country supports it as a law, and with the election is it sure to be a topic of conversation." In the back pocket of President Obama and Democrats, however, are recent Supreme Court victories holding up various parts of the law. That means in order to overturn the law, Republicans would need to pass a bill and hope for a Republican victory in the presidential election in order to not receive a veto. The risk there depends on how you forecast of the voting in November.  In the end, Cox concluded that so far the ACA has accomplished a significant number of its goals. It's been through stumbles, so it's too soon to say it has been a resounding success," said Cox. And with that, outside of political risk, it is unlikely the exchanges or Obamacare are going away anytime soon. Concluded Cox, "A lot of the concern over the end of the law has been exaggerated." NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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WEEKEND: GREEK mythology drag show set for Studio Bob on Saturday

PORT ANGELES — Miss Gay Seattle Jessica Paradisco and Miss Gay Washington Drew Paradisco will get fabulous Saturday during the “Goddesses ...


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PAOK refuse to play Cup semi-fnal amid calls for deeper clean of GREEK football

April 29 – Despite a solution seemingly having been reached between GREEK authorities and FIFA to resume the national cup competition and prevent ...


READ THE ORIGINAL POST AT www.insideworldfootball.com

GREEK deities rule at Shady Side Academy

GREEK deities rule at Shady Side Academy ... Pedro da Silva's forceful portrayal of the GREEK god Bellerophon caught the attention of visiting parents ...


READ THE ORIGINAL POST AT newsinteractive.post-gazette.com

Eurostat: GREEK Unemployment at 24.4% in January

GREEK unemployment was shaped at 24.4% in January 2016 in comparison to the 24.3% of December 2015 and the 25.7% of January 2015, ...


READ THE ORIGINAL POST AT greece.greekreporter.com

Syrian Refugees Try to Find Hope Amid Despair and Hunger

By the time I arrive in late April in Idomeni, an otherwise nondescript GREEK border town, the squalid and sprawling camp houses 12,000 or so people.


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European Commission: GREECE can legislate for contingency 'mechanism' than detailed measures

The European Commission does not think that GREECE needs to vote for specific contingency measures but for a mechanism outlining how such ...


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How GREECE restructured its debt, and a Jamaican success story

Robin Wigglesworth joined the FT as a Gulf correspondent in June 2008. He writes extensively on debt and equity markets across the Middle East and ...


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St. George Greek Orthodox Church to celebrate Easter April 30-May 1

St. George Greek Orthodox Church in Dartmouth will conclude its Holy Week with the celebration of Easter April 30 and May 1. The Liturgy of St. Basil will be celebrated at 8 a.m. April 30, and the Resurrection at 11 p.m. On May 1, Vespers of AGAPE, with ...


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Jack Lew: Flexibility and Debt Relief for a Financial Regulation in Greece

All sides must be flexible in order to successfully complete all the negotiations for Greece’s financial regulation, US Treasury Secretary Jack Lew told Greek Prime Minister Alexis Tsipras in a phone conversation on Thursday. In an announcement ...


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Pilgrims trace Jesus' footsteps on Good Friday in Jerusalem

[Orthodox Christians carry crosses at the Church of the Holy Sepulchre, traditionally believed by many to be the site of the crucifixion of Jesus Christ, during the Good Friday procession in Jerusalem's Old City, Friday, April 29, 2016. (AP Photo/Oded Balilty)]JERUSALEM (AP) — Greek-Orthodox and Eastern Orthodox pilgrims are commemorating the crucifixion of Jesus Christ by following the path in Jerusalem's Old City where, according to tradition, he walked on the way to the cross.


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Detention riots expose how EU is failing people fleeing to GREECE

The riots in Moria closed facility in Lesbos on Tuesday expose how European Union policies are failing to deliver a fair and safe system for receiving ...


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Americans aren't feeling good about the future

[Poor homeless inequality sad distress dog] Consumer confidence disappointed. The headline consumer sentiment index came in at 89.0, according to the University of Michigan's latest survey of consumers. This was below economists' expectations of a reading of 90.0, according to the Bloomberg consensus. Moreover, this was a drop from the previous month's reading of 91.0. The report notes that all of the decline came from the Expectations component, which dropped by 4.8% in the last month, by 12.6% from a year ago, and by 14.7% from its peak back in January 2015. "The decline is all the more remarkable given that consumers' assessments of current economic conditions, including their personal finance, have remained largely unchanged at very positive levels during the past year," the report noted. "This divergence may reflect the strength of the consumer relative to the business sectors, and may have been exacerbated by growing uncertainty about the economic policies advocated by various presidential candidates," it continued. Still, although the decline is "troublesome," the report's authors also noted that it's still far off from signaling a recession. Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy


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Refugee Crisis: Asylum Seekers In Greece 'Must Use Skype'

Migrants in Greece are struggling to submit claims for asylum using a new Skype-based system, according to a senior aid worker. Laura Kyrke-Smith, head of communications for the International Rescue Committee NGO’s U.K. office, wrote an account on her ...


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US Ambassador: Greece Needs a Sustainable Debt Relief

Greece needs a sustainable debt relief and to implement structural reforms in order to return to growth, U.S. Ambassador to Greece David Pearce said in a statement published on the embassy’s website and posted on Twitter on Thursday. “The U.S ...


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This Week at the Movies... My Big Fat GREEK Wedding 2

Showing this weekend at the Traer Theatre is the new movie My Big Fat GREEK Wedding 2. In this sequel to the 2002 sleeper hit My Big Fat GREEK ...


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