Economics and Investing:

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In a new video, Mike Maloney warns of dangerously high P/E ratios and predicts a massive rollover of the stock market in the near future. Any SurvivalBlog readers still holding stocks are warned: Get out now! – JWR

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The largest U.S. coal company just filed for bankruptcy April 13 – DSV

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Items from Professor Preponomics:

US News

Obama Builds a Corporate Tax Prison (Washington Examiner) Excerpt: “None of this would be necessary if the U.S. weren’t now such an inhospitable place to do business.”

Will the Last Company in America Please Turn Off the Lights (Fox News) Excerpt: “Obama wanted to stop the deal because it would have made Pfizer an Irish company. Ireland’s corporate tax is 12.5 percent versus a 35 percent rate charged in the USA.”

A Milestone in Federal Education Waste (My Gov Cost) Excerpt: “Conservatives have threatened to eliminate the department but none, including Ronald Reagan, managed to do so. The federal government continues to get bigger, not smaller.”

Flies on the Aviation Bill (Taxpayers for Common Sense) Excerpt: “One consequence of virtually no legislation passing Congress is that when something is likely to pass, every legislative Tom, Dick, and Harry is going to try to jump on board.”

Medicare’s Improper Payment Facepalm Continues Unabated (Citizens Against Government Waste) Excerpt: “Later this year, CMS will publish a more in-depth look at the improper payment rate data for Medicare FFS (FFS), but the appendices already show that the improper payments rate for 2015 was 12.1 percent, up from 8.6 percent five years ago, costing taxpayers $43.3 billion. “

International News

Senior Bosses at World’s Biggest Banks “Knew Libor was Rigged” (The Telegraph) Excerpt: “Because the bankers had never been told otherwise, the jury at Southwark Crown Court heard, they cannot be said to have acted dishonestly.”

Ex-Barclay’s Trader Told SFO His Bosses Knew About Libor Fix (Bloomberg) Excerpt: “The continuation of the conspiracy became increasingly too difficult toward the end of 2007 when the financial crisis hit….”

Personal Economics and Household Finance

The Only 6 Rules of Frugal Living You Need to Know (WiseBread) Excerpt: “Let’s scrap all the circular talk and bottom-line it. Here are the only six rules of frugal living you need to know.”

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