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Getty LONDON — Labour leader Jeremy Corbyn will on Tuesday abandon his long-held commitment to open borders and signal that he is willing to allow Theresa May's government to end the free movement of people once Brexit talks begin with the EU. In a keynote speech that he is set to give in Cambridgeshire on Tuesday, Corbyn will outline the party's approach to Brexit under his leadership, including long-awaited clarification on what Labour's immigration policy is. Corbyn is expected to say: "Labour is not wedded to freedom of movement for EU citizens as a point of principle. "But nor can we afford to lose full access to the European markets on which so many British businesses and jobs depend. Changes to the way migration rules operate from the EU will be part of the negotiations. "Labour supports fair rules and reasonably managed migration as part of the post-Brexit relationship with the EU." Corbyn's claims that Labour is "not wedded" to the free movement of people and that "changes" to migration rules will feature in UK-EU separation talks represent a notable shift from his previous support for the free movement of people. At the party's Liverpool conference in September, Corbyn reaffirmed his support for the principle, despite pressure from many of his own MPs to call for tighter immigration controls. Labour is not wedded to freedom of movement for EU citizens as a point of principle It is the clearest sign yet that Corbyn has listened to the concerns of many traditional Labour voters in the party's heartlands, who are generally Eurosceptic and against mass migration to the UK. The under-pressure Labour leader will pledge to tackle the perceived negative effects of mass immigration on wages by "closing down cheap labour loopholes, banning exclusive advertising of jobs and strengthening workplace protections". His speech also indicates that Labour is not opposed to the prime minister terminating the UK's membership of the single market. Instead, the Opposition will push the government to negotiate "full access" — an ambiguous term but nevertheless a term that connotes a different sort of trade relationship. One senior Labour source told Business Insider: "Full membership of the single market would be seen as not respecting the result of the referendum." Below is some excerpts from of Corbyn's speech, which he will deliver in Peterborough, Cambridgeshire on Tuesday afternoon. Rebuilding the British economy GettyOn the economy, Corbyn will say that: "People voted for Brexit to regain control over our economy, our democracy and people’s lives. "We will push to maintain full access to the European single market to protect living standards and jobs. "But we will also press to repatriate powers from Brussels for the British government to develop a genuine industrial strategy essential for the economy of the future. "Tory Governments have hidden behind EU state aid rules because they don’t want to intervene. But EU rules can also be a block on the action that’s needed to support our economy, decent jobs and living standards. "Labour will use state aid powers in a drive to build a new economy, based on new technology and the green industries of the future." Job market regulations "A Labour Brexit would take back control over our jobs market which has been seriously damaged by years of reckless deregulation. "Labour will ensure all workers have equal rights at work from day one – and require collective bargaining agreements in key sectors, so that workers cannot be undercut. "That will bring an end to the unscrupulous use of agency labour and bogus self-employment to stop undercutting and to ensure every worker has a secure job with secure pay." A Labour Brexit would take back control over our jobs market which has been seriously damaged by years of reckless deregulation. Public spending and corporate responsibility "Labour will use the huge spending leverage of taxpayer-funded services massively to expand the number of proper apprenticeships. "All firms with a government or council contract over £250,000 will be required to pay tax in the UK and train young people. No company will receive taxpayer-funded contracts if it, or its parent company, is headquartered in a tax haven. "And we will not buy outsourced public services from companies whose owners and executives are creaming off profits to stuff their pockets at the expense of the workforce and the public purse." Immigration "Labour is not wedded to freedom of movement for EU citizens as a point of principle. "But nor can we afford to lose full access to the European markets on which so many British businesses and jobs depend. Changes to the way migration rules operate from the EU will be part of the negotiations. "Labour supports fair rules and reasonably managed migration as part of the post-Brexit relationship with the EU. "Unlike the Tories, Labour will not offer false promises on immigration targets or sow division by scapegoating migrants. "But Labour will take action against undercutting of pay and conditions by closing down cheap labour loopholes, banning exclusive advertising of jobs abroad and strengthening workplace protections. "That would have the effect of reducing numbers of EU migrant workers in the most deregulated sectors, regardless of the final Brexit deal." NOW WATCH: France named a road 'Brexit Street' but it doesn't actually go anywhere See Also: Brexit: Immigration control is more important to Brits than the single market Nicola Sturgeon ditches call for a second referendum to keep Scotland in EU There was a Brexit power struggle in Whitehall after Sir Ivan Rogers resigned

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The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships so we get a share of the revenue from your purchase. Everlane specializes in creating high-quality clothes at affordable, transparent prices, and its latest "Choose What You Pay" sale gives shoppers more spending freedom than ever before. Simply click on one of the many clothes, jackets, shoes, and accessories on sale, and Everlane will offer three different prices you can pay. The brand prides itself on showing their readers exactly where their money's going, and its "Choose What You Pay" sale is no exception. For instance, you can pick up Everlane's lightweight men's anorak for $69, $79, or $89. If you buy the Everlane anorak for the lowest price offered, you only pay for the cost of production and shipping; Everlane doesn't make any money off of it. If you choose to spend $79 or $89 on the anorak, you help cover overhead for Everlane's 80-person team and allow the company to invest in growth. Not only is this sale an opportunity to save on some great new pieces for your closet, you have the power to support a cool, forward-thinking business and help them expand it — that's not something you can say for every sale you shop. Below are some of our favorite finds for men and women from Everlane's "Choose What You Pay" sale. You can see everything on sale for men and women here. Men's Ribbed Cashmere Cardigan Everlane When it's really cold outside, you can flip up on the collar on this sweater for extra warmth. Everlane Men's Ribbed Cashmere Cardigan, $77, $88, or $99 (originally $110) [10% - 30% off] Men's Slim Fit Oxford Shirt Everlane Every guy should have a couple dress shirts in his closet. This one will transition nicely from the office to grabbing drinks with friends after work. Everlane Men's Slim Fit Oxford Shirt, $41, $47, or $53 (originally $58) [9% - 29% off] Men's Short-Sleeve Marled V-Neck Shirt Everlane Whether you layer it underneath a cardigan now or pair it with some chino shorts come spring, you should get a lot of mileage out of this T-shirt. Everlane Men's Short-Sleeve Marled V-Neck Shirt, $16, $18, or $20 (originally $22) [9% - 27% off] See the rest of the story at Business Insider See Also: Here are the best sneakers for every type of workout One of our favorite watch brands is kicking off the new year with a sale Save on online prep courses for the GMAT and GRE — and more of today's best deals from around the web DON'T MISS: Why this popular clothing company decided to lower the price of its cashmere sweaters this year SEE ALSO: One of our favorite watch brands is kicking off the new year with a sale

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Jared Kushner will reportedly join President-elect Donald Trump's administration as a senior adviser, raising questions about whether the move violates federal nepotism guidelines. Both Peter Alexander of NBC and Mike Allen of the news startup Axios reported the plans for Kushner on Monday. Federal government guidelines stipulate that employees at federal agencies are not permitted to hire family members, though Kushner's legal representatives have argued that the White House is not a federal agency. Follow BI Video: On Twitter See Also: 'One of the most over-rated actresses in Hollywood': Trump attacks Meryl Streep over blistering Golden Globes speech REPORT: Jared Kushner is taking steps to explore a White House role Watch Joe Biden steamroll Democrats objecting to Trump’s Electoral College victory

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Apparently Congressional hearings don't mean anything to Valeant Pharmaceuticals. The beleaguered company, which has been under intense scrutiny for its drug price hikes since 2015, again raised prices for over 50 products last week, according to data compiled by Wells Fargo. From Wells Fargo analyst David Maris: "On Friday, January 6th, Valeant implemented 95 different price increases across more than 50 products. In our opinion, this is an example of Valeant's continued reliance on price as a means of growth and may also signal that Valeant's prescription volumes continue to remain challenged. "Recall that these price increases come on top of significant price increases — some of them more than 100% —taken on products in previous years and several taken in late 2016. According to data from Medi-Span PriceRx, Valeant had 76 price increases of 9% and its average price increase was approximately 8.4%. The price increases appear to span Valeant's dermatology, ophthalmology, and gastroenterology portfolios." Back in October 2015, accusations of accounting malfeasance from a short seller combined with a lashing from politicians on both sides of the aisle brought Valeant, then a hedge fund favorite, to the brink of collapse. Since then, its stock has fallen over 90%. It was a terrible time for the company, and it has yet to recover fully. The drama included the launch of multiple investigations on the federal and state levels, a couple Congressional hearings, and a new CEO. During all of that, the company promised that its business model would no longer rely on price hikes. Instead, it said, growth would be driven by sales volume. That is why Maris is so skeptical here. Why would a company so closely watched by the government risk aggravating Washington with more of the same behavior? Beats us. NOW WATCH: Here's the massive gap in average income between the top 1% and the bottom 99% in every state See Also: This is the best WiFi router I’ve ever used 9 must-have tech gadgets under $100 This is one of the simplest and most affordable ways to invest your money SEE ALSO: Just after Trump won, his son-in-law had a cozy meeting with a Chinese exec who's buying US assets left and right SEE ALSO: Want to get ahead on Wall Street? Here's everything you need to know to land your dream job

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Artist Nickolay Lamm created a series of simulations depicting how cats see differently from humans. Using consultation from the All Eye Animal Clinic, The Animal Eye Institute, and Penn Vet, he demonstrated that while cats have much better vision at night, they have difficulty seeing as many colors as we do as well as seeing things over 20 feet away. Follow TI: On Facebook See Also: What magic mushrooms do to your brain and state of mind Here’s why the new human organ everyone’s talking about is so important An eye doctor explains why your eyes twitch sometimes

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Otherwise disparate voices in the two major political parties are seemingly unified on one score — a newfound skepticism of free trade. It’s difficult to find a more counterproductive issue on which to agree. America’s essential embrace of free trade over the centuries has been an enduring source of strength and economic expansion. Photo by geralt (Pixabay) Anti-Trade Many have rightly criticized Donald Trump’s proposed 45% tariff on Chinese and Mexican goods. For American families hoping to buy certain top-tier washing machines, however, the tax is already here. In a preliminary ruling last summer, the Commerce Department slapped a 111% tax on imports of Samsung’s best clothes washers and a 48% tax on LG’s nicest models. In December, Commerce reduced Samsung’s tax to 52%, but the point remains. The case now proceeds to the International Trade Commission for the “injury phase,” where the ITC will try to tease out the complex economics of the industry to judge whether U.S. firms are being unfairly harmed. But first a little background. The charge from Commerce is that Samsung and LG are “dumping” the smart-washers in the U.S. at below market prices, thus hurting rival Whirlpool, which brought the complaint. Dumping is a common charge by firms facing import competition. And Washington (and other national capitals) are all too gullible when a U.S.-based firm (and constituent) asks for an investigation of non-constituents with foreign sounding names. It’s a tale as old as time, which points to the very purpose of free trade agreements: to mitigate the temptations of protectionism and elevate economic activity over politics. In this case, Commerce, as is typical, massaged the numbers to make a predetermined case. To prove dumping, it needed to show the “real” cost of producing the Samsung and LG washers was higher than the selling price. But the washers, which are assembled in China, are made from many hundreds of parts. So Commerce attempts to estimate prices for all those component parts in a market economy country — in this case, Thailand — and arrive at a sum total of what the washer “should” cost. As you can imagine in a political investigation, the estimates can be wildly off the mark. Pretending we can accurately label products and firms “foreign” or “domestic” is folly. Modern businesses are exceedingly complex and international. In the U.S., for example, 15 of the 20 cars with the highest content of “domestic” parts are built by non-Big Three — that is, “foreign” — auto makers. Whirlpool buys washing machine components from China, and Samsung builds microchips in Texas. Which is the American firm? The ITC investigation now hinges on the intricacies of product pricing and profitability. For example, the ITC in a preliminary review found that Whirpool sells domestic washers at a loss. But the ITC ignored the common industry practice of selling washers and dryers in pairs, half the total price attributed to each. In reality, however, washers are more complex and costly, and only generate a “loss” in an accounting sense. The simpler and cheaper-to-make dryers are more profitable (again, in an accounting sense) and making up the difference. But you might be wondering: do we really want Washington judging these things? Recent political rhetoric far exceeds the actual anti-trade sentiments of American workers and voters. Yes, manufacturing jobs have declined as knowledge and service jobs have risen. But most people know, contrary to what they hear in stump speeches, that America still “makes things” and that we make more high-value goods and fewer low-value goods than before. In the last 20 years, since NAFTA came online and China entered the World Trade Organization, U.S. manufacturing output is up 40% in real terms. The U.S. is the world’s second largest manufacturer and third largest exporter. If U.S. manufacturing were a nation, it would be the world’s eighth biggest economy. The idea that we need to “protect” the U.S. economy is backwards. Between 2000 and 2015, U.S. firms invested $739 billion in international manufacturing facilities. But international firms during this period invested nearly twice as much — $1.35 trillion — in U.S. manufacturing. Sometimes firms invest abroad because it’s cheaper to build products there. Sometimes it’s the location of natural resources or the nature and size of a labor force. Apple, for example, says some of its China manufacturing could not be performed anywhere else, regardless of price. Other times, the purpose is to build products close to where you sell them. Toyota and BMW, for example, build plants in the U.S. in part to show they are committed to the U.S. market. Regardless, America’s place as the prime destination for international capital (both human and financial) has been a strength for several hundred years. And it is this very capital surplus that helps the American economy grow and, in turn, allows American consumers to buy more nice things like smartphones and washing machines. Some call this a “trade deficit,” but it’s really called wealth. Contrary to those stump speeches, most Americans know how much value they and their families get by buying the best products at the lowest prices from anywhere in the world. But if we cut ourselves off from the world, others will do the same. And because we buy more, and also receive more investment, from abroad, we’ve got more to lose. Many American workers and families are experiencing real economic hardship, as wages and incomes have stagnated. And trade is not the problem. Forcing American families to pay twice as much for a high-quality washing machine is not going to fix the U.S. economy in the ways it needs fixing. Dumping investigations are almost always a way for Washington to transfer dollars from unsuspecting American consumers to favored interests. Meantime, it only reinforces anti-trade sentiment, which is threatening to spin out of control and jeopardize our economic recovery. Article by Bret Swanson, Inside Sources The post Tech Products Get Caught In Anti-Trade Tide appeared first on ValueWalk.

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America's favorite destination is the coast. Every year, millions of Americans visit the coast to enjoy our nation's beautiful beaches and nearshore waters. Ocean tourism and recreation are the top economic drivers in our coastal communities, worth an estimated $100 billion in GDP annually nationwide and $40 billion in GDP in the Northeastern and Mid-Atlantic states per year. Our coasts are also very busy and continue to get busier every year with competing interests that include increased coastal development, offshore energy projects and increased shipping. How do we allow for these new uses while protecting important habitats and existing uses such as ocean recreation, fishing and tourism? The solution is better planning. Regional ocean planning is a new approach to balance the many competing uses of the ocean. The planning process is essential to ensure continued growth and protection of coastal tourism and recreation, which depend on a clean and healthy ocean ecosystem to thrive. After years of hard work, collaboration and input from thousands of ocean and coastal stakeholders, the first regional ocean plans in the nation have been approved. This marks a major achievement in the protection of our ocean and coasts. The Northeast and Mid-Atlantic regional ocean plans will guide the management of our valuable coastlines and ocean resources for future generations. Based on the bipartisan recommendations of the U.S. Commission on Ocean Policy, regional ocean planning addresses issues such as water quality, ocean pollution, coastal flooding, and offshore renewable energy. Each regional strategy is implemented through an Ocean Planning Body that is comprised of state representatives, federal agencies, and tribal nations, to advance stewardship of our coasts through improved collaboration across all levels of government. In regions such as the Northeast, Mid-Atlantic, West Coast, and Pacific Islands, significant progress is being made through ocean planning to protect the coastal ecosystems we all use and enjoy. Organizations, such as the Surfrider Foundation, have led studies to map recreational activities and collect economic data on coastal tourism and recreation to ensure this vital industry is incorporated into the official decision-making processes for the ocean plans. Including the information in official data portals provides a rare opportunity to contribute to the proactive regional planning process and ensure that the economics of coastal recreation are integrated into the protection of the nation's coastlines. With the approval of the ocean plans in the Northeast and Mid-Atlantic, the next wave of ocean management will establish best practices, new ways of collaborating and communicating, and ensure that the interests of all ocean users are holistically included. The ocean planning process gives beachgoers, surfers and ocean users a voice in the decision-making process, which enables each of us to share our vision for coastal communities and for the future of our ocean. So next time you hit the surf, relax on the beach, or take a walk with your family, know that coastal recreation is critical to protecting our coasts and ocean. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

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Mike Gleason (Money Metals Exchange): We are fortunate today to be joined by Frank Holmes, CEO and Chief Investment Officer at U.S. Global Investors. Just recently Mr. Holmes received another award from the Mining Journal and was named America’s Best Fund Manager for 2016, one of many awards he’s received now in the mining industry for his fantastic track record. He is also the co-author of the book The Gold Watcher: Demystifying Gold Investing and is a regular guest on CNBC, Bloomberg, Fox Business, as well as right here on the Money Metals Podcast. Frank Happy New Year to you and it’s great to have you back with us and thanks for joining us again. Frank Holmes (U.S. Global Investors): It’s good to be with you all and yes, Happy New Year and wishing everyone buckets of laughter and gold this year. Mike Gleason: Well to start out here, we’ll talk about gold specifically and I want to get your comments from a technical analysis standpoint in the gold market as we begin the new year. I know you’re pretty optimistic about where prices may be headed saying that gold was significantly oversold at the end of the year. You wrote a great piece recently for your website on the subject. So, if you would please share with our listeners why you’re looking for a reversal and a move higher in the metals. Frank Holmes: One of the things we like to do is try and remove the emotions of markets and apply some basic statistical analysis. One of the most simple ones is the oscillator and it’s looking at the rate of change over a specific time period. In 60 trading days, which we published on and that’s looking over a basically 90 calendar days which is a quarter. You go back over 10 years, 20 years, and it doesn’t matter if gold was in a micro-rising trend or a falling trend, things will overshoot both to the upside and to the downside. There are these extreme pivot points that investors should look at and what we’ve seen here is that gold is down two standard deviations. That’s just forecasted over the next 60 trading days, the odds are they have a 90% of a probability of a reversal back to the mean. It also comes at year end and usually gold rallies in January going into the Chinese New Year, so it appears that we start this rally. Mike Gleason: Yeah we’re certainly looking good here as we’re speaking on Wednesday of this week. The first week of the year does appear to be positive for metals which of course is a nice sign for many folks who’ve been worn out over the last few months with the price action. On one of the fundamental drivers you watch carefully when it comes to the precious metals is real interest rates. We’ve talked about that a lot with you. All other factors aside higher real interest rates tend to weigh on gold prices because gold doesn’t generate a yield. We’ve seen yields move higher since November and that is one of the factors weighing on the metals. We have the Fed targeting three to four rate hikes in 2017 but we know that what they say and what they do are often two very different things. Last year at this time, Janet Yellen was telegraphing four hikes and delivered one and that was in the final month of the year. So, what is your outlook for interest rates in 2017? Frank Holmes: I think that they backed up very quickly and I think that we’re going to have inflation. Historically whenever you have such a big fiscal stimulus and its very demand focused domestically, domestic demand, and we’ve this short in the small cap stock arena, then the odds favor that inflation will be higher. Here the magic is, how high can rates stay ahead of inflation without stifling a recession? And I don’t think they can go much higher, and I think that’s the inflection point. Right now, if you take a look at the spike in the short two-year government bond, which most currencies trade off of, you see an extra 80 bases points – an unexpected rally in that yield. And that would have basically on a debt rollover take the debt servicing up to 3.5% of GDP. So, I think that that would be fragile to say the least. I think the other things where investors need to recognize is that if Trump does go with his tariffs and doing all this stuff, some of these thoughts are out there, this will trigger inflation and we’re going to see gold participate in a big rally. The last thing I want to share with the investors was that this time last year when everyone was so bearish and bleak and gold started this rally. The gold stocks that cleansed all themselves to balance sheet and started on a spectacular run. When they were up 40% most of Wall Street was telling me, “Oh, it’s up too high.” I would do interviews and it’s up 80% and, “Oh that’s up way too high.” Now, our funds are up 100%, “That’s just impossible.” And still we’re up, or gold (stocks) were up 70% I think for the past year and that was still too high. We still have this per base of negativity towards gold and talking down gold as an asset class. I think that that’s another factor that lends itself that we can get this surge of short covering in gold stocks. Mike Gleason: Leading me right into my next question. Last year was a real rollercoaster for the mining industry. You obviously follow that sector very closely, so will 2017 look more like the first half of 2016 for the miners where they ascended rapidly and the environment was very positive? Or will it look like the second half of the year when they pulled back and gave back much of those gains? Basically, how are things setting up for the mining sector this year? Frank Holmes: It’s a good question. When you do time series analysis that is, what is the core relation over 20 trading days between gold and the gold stocks? We’re talking about a 95% core relation. So, if you want to understand the gold stocks you really have to understand the price the gold and where the direction it’s going. Our forecast in gold stocks most times is a forecast on gold. What the difference is currencies and right now the cheapest gold stocks in the world on an operating cash flow enterprise value are populating in South Africa and Australia. If you take a look at to the multiples as compared to North America and if you look at just having a basket of those names last year and rebalancing them and being a scavenger even though the gold rally was taking place, buying the cheapest operating cash flow to enterprise value, you far outperformed everything, the top 10 names. In running a mutual fund, we have to have at least 21 names and it ends up being more. Coming The post Frank Holmes: Gold Rally Extremely Likely In January And February appeared first on ValueWalk.

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Leave it to the media, which spent the latter half of 2016 highlighting how outrageously expensive Obamacare premiums were becoming, to suddenly shift gears in 2017 and stress the health law’s many “pluses.” Such was the case in a recent interview with Heritage President Jim DeMint, in which CNN anchor Carol Costello suggested that lawmakers would need to preserve the so-called benefits of Obamacare if they repealed it. In Costello’s words: For example, this is according to the nonpartisan Congressional Budget Office and the Federal Reserve in Dallas. Preventative care provided by Obamacare … saves money and health care costs overall. In 2015, the cost of health care services increased 0.5 percent. The typical price increase before Obamacare, it was around 3 to 4 percent. Obamacare will lower the deficit by $143 billion over the next 10 years. So, there are pluses to Obamacare. So, how do you keep the pluses and get rid of the minuses? Image source: Wikimedia Commons DeMint shot back that those “facts” could fall “under the category of fake news.” This set Costello off to correct him that the numbers had come from the Congressional Budget Office. Well, here’s what the Congressional Budget Office actually said about the cost of preventative care in 2009: “Although different types of preventive care have different effects on spending, the evidence suggests that for most preventive services, expanded utilization leads to higher, not lower, medical spending overall.” For Americans paying premiums, this year’s price increases speak for themselves. According to the Obama administration, on the exchanges, the average increase this year in the benchmark plan premium is 25 percent across the 39 states that use the HealthCare.gov platform. Certainly this cannot be considered a “plus,” even by the law’s most zealous supporters. It is true that the Congressional Budget Office did originally say that the law would reduce the deficit, but that analysis was always based on questionable assumptions and the double-counting of Medicare savings. Indeed, in 2014, the Senate Budget Committee went back and used the Congressional Budget Office’s same scoring conventions and found that Obamacare would increase the deficit by $131 billion over the next decade. Americans now have fewer insurer options, higher insurance deductibles, and higher premiums than prior to Obamacare. Although the details of this year’s repeal bill are not yet known, the Congressional Budget Office’s latest score of an Obamacare repeal—based on the reconciliation bill passed by the last Congress, which repealed the law’s major spending provisions and tax increases—was projected to reduce federal deficits by roughly $516 billion over the 2016-2025 period, accounting for the economic benefits that would result. But on CNN, Costello wasn’t finished. “So, all those 20 million people enrolled in Obamacare, they’re all going broke and it’s not working for any of them?” she asked. Actually, 20 million is a debatable enrollment figure, given that it is based on survey data that can be off by millions of people. Using actual insurer enrollment data, which is only available through the end of 2015, there was an increase in coverage of only 14 million Americans from 2013 to 2015, with the vast majority (11.7 million) being pushed into Medicaid coverage. Moreover, the actual net increase in private coverage during this period was only 2.3 million due to a decline in employment-based coverage, which offset the increase in the individual health insurance market. Furthermore, Costello forgot about all of the people (over 10 million) who purchase coverage in the individual market and receive no Obamacare subsidy. These people have been getting hammered by premium increases caused by Obamacare every year and have to pay the full cost on their own. Costello asked, “How do you take care of people much better than they’re taken care of now?” Considering that many Americans are now facing fewer insurer options, higher insurance deductibles, and higher premiums than prior to Obamacare, the need for real cost relief is immense. The first step in providing relief is to quickly repeal the law and then do the legislative work that will allow for patient-centered reforms. Republished from The Daily Signal. Alyene Senger Alyene Senger focuses her research and writing at The Heritage Foundation on the intricacies of health care as a policy analyst in the Center for Health Policy Studies. Read her research. This article was originally published on FEE.org. Read the original article. The post The Media’s Fake News About Obamacare appeared first on ValueWalk.

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Cobalt key to your phone battery, Tesla and more… How does your mobile phone last for 12 hours on just one charge? It’s the power of cobalt, along with several other energy metals, that keeps your lithium-ion battery running. The only problem? Getting the metal from the source to your electronics is not an easy feat, and this makes for an extremely precarious supply chain for manufacturers. Our infographic today comes to us from LiCo Energy Metals, and it focuses on where this important ingredient of green technology originates from, and the supply risks associated with its main sources. What is Cobalt? Cobalt is a transition metal found between iron and nickel on the periodic table. It has a high melting point (1493°C) and retains its strength to a high temperature. Similar to iron or nickel, cobalt is ferromagnetic. It can retain its magnetic properties to 1100°C, a higher temperature than any other material. Ferromagnetism is the strongest type of magneticism: it’s the only one that typically creates forces strong enough to be felt, and is responsible for the magnets encountered in everyday life. These unique properties make the metal perfect for two specialized high-tech purposes: superalloys and battery cathodes. Superalloys High-performance alloys drive 18% of cobalt demand. The metal’s ability to withstand intense temperatures and conditions makes it perfect for use in: Turbine blades Jet engines Gas turbines Prosthetics Permanent magnets Lithium-ion Batteries: Batteries drives 49% of demand – and most of this comes from cobalt’s usage in lithium-ion battery cathodes: Type of lithium-ion cathode Cobalt in cathode Spec. energy (Wh/kg) LFP 0% 120 LMO 0% 140 NMC 15% 200 LCO 55% 200 NCA 10% 245 The three most powerful cathode formulations for li-ion batteries all need cobalt. As a result, the metal is indispensable in many of today’s battery-powered devices. Mobile phones (LCO) Tesla Model S (NCA) Tesla Powerwall (NMC) Chevy Volt (NMC/LMO) The Tesla Powerwall 2 uses approximately 7kg, and a Tesla Model S (90 kWh) uses approximately 22.5kg of the energy metal. The Cobalt Supply Chain Cobalt production has gone almost straight up to meet demand, and production has more than doubled since the early 2000s. But while the metal is desired, getting it is the hard part: No native cobalt has ever been found in nature. There are four widely-distributed ores that exist, but almost no cobalt is mined from them as a primary source. Most cobalt production is mined as a by-product. Mine source % cobalt production Nickel (by-product) 60% Copper (by-product) 38% Cobalt (primary) 2% This means it is hard to expand production when more is needed. Most production occurs in the DRC, a country with elevated supply risks: Country Tonnes % Total 122,701 100.0% United States 524 0.4% China 1,417 1.2% DRC 67,975 55.4% Rest of World 52,785 43.0% (Source: CRU, estimated production for 2017, tonnes) The Future of Cobalt Supply Companies like Tesla and Panasonic need reliable sources of the metal, and right now there aren’t many failsafes. The U.S. hasn’t mined cobalt in significant volumes since 1971, and the USGS reports that the United States only has 301 tonnes of the metal stored in stockpiles. The reality is that the DRC produces about half of all cobalt, and it also holds approximately 47% of all global reserves. Why is this a concern for end-users? The DRC is one of the poorest, corrupt, and most coercive countries in the planet. It ranks: 151st out of 159 countries in the Human Freedom Index 176th out of 188 countries on the Human Development Index 178th out of 184 countries in terms of GDP per capita ($455) 148th out of 169 countries in the Corruption Perceptions Index The DRC has had more deaths from war since WWII than any other country on the planet. Recent wars in the DRC: First Congo War (1996-1997) – A foreign invasion by Rwanda that overthrew the Mobutu regime. Second Congo War (1998-2003) – The bloodiest conflict in world history since WW2 with 5.4 million deaths. Human Rights in Mining The DRC government estimates that 20% of all cobalt production in the country comes from artisanal miners – independent workers who dig holes and mine ore without sophisticated mines or machinery. There are at least 100,000 artisanal cobalt miners in the DRC, and UNICEF estimates that up to 40,000 children could be in the trade. Children can be as young as seven years old, and they can work up to 12 hrs with physically demanding work, earning $2 per day. Meanwhile, Amnesty International alleges that Apple, Samsung, and Sony fail to do basic checks in making sure the metal in their supply chains did not come from child labor. Most major companies have vowed that any such practices will not be tolerated in their supply chains. Other Sources Where will tomorrow’s supply come from, and will the role of the DRC eventually diminish? Will Tesla achieve its goal of a North American supply chain for its key metal inputs? Mining exploration companies are already looking to regions like Ontario, Idaho, British Columbia, and the Northwest Territories to find tomorrow’s deposits: Ontario: Ontario is one of the only places in the world where cobalt-primary mines that have existed. This camp is nearby the aptly named town of Cobalt, Ontario, which is located halfway between Sudbury – the world’s “Nickel Capital”, and Val-d’Or, one of the most famous gold camps in the world. Idaho: Idaho is known as the “Gem State” while also being known for its silver camps in Couer D’Alene – but it has also been a cobalt producer in the past. BC: The mountains of British Columbia are known for their rich gold, silver, copper, zinc, and met coal deposits. But cobalt often occurs with copper, and some mines in BC have produced cobalt in the past. Northwest Territories: Cobalt can also be found up north, as the NWT becomes a more interesting mineral destination for companies. 160km from Yellowknife is a gold-cobalt-bismuth-copper deposit being developed. Article by Jeff Desjardins, Visual Capitalist The post Cobalt: A Precarious Supply Chain [INFOGRAPHIC] appeared first on ValueWalk.

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As a standalone part of your website, creating a good landing page is essential whether you want to monetize your site or not, if your goal is to convert your users. Creating the right landing page will require the right tool, so here are some landing page creating applications you can use to make 17 Vote(s)

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Wharton’s Benjamin Keys and Columbia’s Christopher Mayer discuss the privatization of Fannie Mae and Freddie Mac. Debate has resumed over the future of Fannie Mae and Freddie Mac after recent comments by U.S. Treasury secretary nominee Steve Mnuchin that they should be privatized. The two government-sponsored enterprises buy home mortgages, pool them and sell them as mortgage-backed securities in the secondary market, with a share of more than 45% of that market. Fannie Mae and Freddie Mac have been in government conservatorship since 2008 after a government bailout of $187.5 billion rescued them from the 2007 subprime mortgage finance crisis. Fannie Mae Freddie Mac Fannie Mae And Freddie Mac Mnuchin’s plan has lifted the share prices of both companies amid hopes of windfall payments for private shareholders. But it also faces challenges such as providing a safety net for the two entities in the event of a housing market crisis; ensuring adequate underwriting standards, and retaining programs for affordable housing and for the elderly, and to promote home ownership, say experts at Wharton and Columbia University. Benjamin Keys, Wharton professor of real estate and Christopher J. Mayer, Columbia University professor of real estate, discussed the ideal roadmap for privatization of Fannie Mae and Freddie Mac on the Knowledge@Wharton show on Wharton Business Radio on SiriusXM channel 111. (Listen to the podcast at the top of this page.) Here are five takeaways from their discussion: Privatize, But with a Safety Net: When the housing market is healthy, it can manage well on its own without government support, said Keys. “The challenge is: What do you do when things go wrong?” he added. “Right now the housing market is looking relatively good and [hence] the push to privatize them. The real question is whether there will be support for that market when things go bad.” Fannie Mae and Freddie Mac issued mortgage-backed securities totaling $974 billion in 2016, up 18% over that in 2015, according to Inside Mortgage Finance. Mayer agreed. “Privatization, absent a plan for what goes wrong when things are bad is not a solution,” he said. “It’s a nice theory to say, ‘We’ll let them fail and go down,’ but every government has discovered in every financial crisis that it is not going to stand by and watch the housing mortgage market completely collapse.” Finding the Right Model If Fannie Mae and Freddie Mac go private, there will be concerns about the risks tax payers are exposed to, said Mayer. He noted that the two entities along with the Federal Housing Administration originate about 90% of all housing mortgages. “The problem is what happens when you have an implicit or explicit government guarantee and private shareholders,” he asked. “Private shareholders will take lots of risk and say, ‘Heads we win, tails taxpayers lose.’ So we need to find a system that is better than that.” According to Mayer, without sufficient capital requirements and other controls, “tax payers eventually will end up on the hook for large bailouts.” He noted that private shareholders like hedge funds and mutual funds that own about 10% of the two companies have been lobbying in Congress over the payouts they could get when Fannie and Freddie are taken out of conservatorship and fully privatized. “The best case scenario is we accurately price the catastrophe insurance and find new and hopefully explicit ways to support low-income and multifamily housing.”–Benjamin Keys Phasing in the Private Sector Keys suggested a phased plan for taking the two companies private. Under that plan, the government would reduce its role in the companies by tightening restrictions in underwriting mortgages. At the same time, hopes would be for the private market to begin to fill the spaces that the government vacates. “The most straightforward proposal I’ve seen is to convert Fannie Mae and Freddie Mac into a form of catastrophe insurance with a larger footprint than say, a flood insurance program, but something that would reinsure the securities that are being issued,” he said. In that plan, the insurance could be priced “as accurately as possible to reflect the underlying risk,” he added. Protecting Affordable Housing Programs According to Keys, many people are relying on low down payment programs, and in many cases are putting down less than 5% of the price of the homes they buy. Any plan to privatize Fannie Mae and Freddie Mac must ensure protection for such affordable programs, and others for multifamily housing and rental properties. “The best case scenario is we accurately price the catastrophe insurance and find new and hopefully explicit ways to support low-income and multifamily housing,” he said. Mayer agreed, and said, “The government needs to find responsible ways to help people in home ownership, because it’s a predominant way of building wealth and for the elderly to be able to manage their lives towards retirement.” Mayer clarified that the bulk of low down payment lending is through the Federal Housing Administration and not through Fannie Mae and Freddie Mac. “The average down payment today is not much different from what it has been historically, especially since around 2000,” he said. “The narrative that the government is pushing low down payment programs and inviting a crisis again is false, based on the data.” What has changed since the subprime crisis is borrowers need to have much higher credit scores than they were required to have in the last two decades, he noted. Moves Afoot for Broader Changes The debate over the future of Fannie Mae and Freddie Mac is occurring amid calls for fiscal changes, such as on tax reform and revisions to deductibility of interest payments on mortgages, Mayer noted. He expected pressure on some of the “implicit subsidies that are occurring through the tax code on housing.” Much of those subsidies go to those at the top end, to high-income borrowers buying homes with high tax rates, he said. Housing policy goals also need to be revisited, especially as many younger people are putting off home ownership since they are marrying and forming households later, he added. “Privatization, absent a plan for what goes wrong when things are bad is not a solution.”–Christopher J. Mayer Adding to those are student debt burdens, the challenges facing middle-income workers and income volatility, noted Mayer. “We need to have a stable housing finance system that has a path to home ownership where people can save and become responsible home owners,” he said, hastening to add that he is not arguing for subsidies. Keys agreed. “People aren’t getting a 30-year job at the factory anymore; they are bouncing from job to job,” he said. “That makes it challenging to save for a down payment and making mortgage payments regularly.” Article by Knowledge@Wharton The post Privatizing Fannie Mae And Freddie Mac: How It Can Be Done Effectively appeared first on ValueWalk.

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Opus Capital Management monthly market overview, titled, “Quantitative Review Of U.S. Small Cap Value.” Also check out hidden small cap value stocks Key Takeaways Continuing their momentum, U.S. small cap equities rose 2.8% in December, piggybacking off an 11.2% gain in November. Small caps have outperformed U.S. large caps a total of nine (9) months this year. For the year, small caps beat large caps by the widest margin since 2010, outperforming by 9.4%. This return has recovered much of the last two years’ weak relative performance. Historically, when small caps beat large caps by more than 5% in a year, they tend to slightly lag the following year. The Russell 2000 (R2K) is trading at 20.5x P/E, up from 17.4x at the start of the year and well above the 15.7x historical average. Small caps reached an all-time high on December 9th, up 3.0% from the previous record set on November 25th of this year. December has been a historically strong month and this year did not disappoint. For 2016, the Russell 2000 Value Index (R2KV) has outperformed the Russell 2000 Growth Index (R2KG) in nine (9) of twelve (12) months. Combining both December’s and November’s performance, Value outpaced growth by 7.1%, capping off a great performance for a year in which Value outperformed Growth by 20.4%! The outperformance was the largest victory by Value since 2001 when the “Tech Bubble” burst. Much like November, December’s performance was bolstered by the R2KV’s overweight in banks. The R2KV has over 19% more exposure to banks than the R2KG. Furthermore, the R2KG’s performance was not helped by its exposure to Biotechs, which dropped over 22% for the year. Historically, when Value wins by such a large margin, it tends to keep the momentum going forward into the following year. In December, Energy and Financials continued their momentum from November, driving the R2KV’s performance. Banks alone, contributed to 42% of the benchmark’s return. Energy continued to see ETF inflows, propelling performance, after both OPEC and non-OPEC countries agreed on a production cuts at the end of November. Over the last six months, Energy has either been one of the top performing sectors or the worst performing sector during a given month. Counterintuitively, interest-rate-sensitive sectors, Utilities and REITs, performed well even after the Fed decided to raise interest rates for the first time in a year. Finishing the year, Materials & Processing continued its dominating performance, outpacing the second best performing sector, Energy, by 18.6%. Every sector in the R2KV was positive for the year. Fund flows was the theme for the fourth quarter as we saw increased inflows into ETFs. Small cap ETFs took in $17.5B for the year with over $12B in the fourth quarter alone, boosting the smallest market cap names by 27%. Active Managers continue to see outflows, aggregating over $1.5 trillion since 2005. Value managers had the worst showing in small caps with only 10.2% of managers beating the index for the year. The fourth quarter saw a slightly higher figure at 23.2%. The R2KV finished the year with the same theme of favoring lower quality stocks with an emphasis on companies that do not have any earnings. U.S. Small Cap Value With earnings remaining weak and small caps appreciating over 20% this year, valuations have climbed to their highest level ever. The Russell 2000 (R2K) sports a P/E of 20.5x, well above the 17.4x to begin the year. The Russell 2000 Value (R2KV) also recorded its highest valuation ever at 19.6x, towering over its historical average of 13.4x. It has been widely speculated that the new administration will lower corporate taxes, which may propel small caps out of their five (5) quarter earnings recession. December’s factors came in mixed, due to the market favoring certain sectors over others. For example, Banks, which rocketed 30% in the fourth quarter, tend to sport higher than average ROEs and a heavy weight within the R2KV, skewing the market to favoring higher ROEs for the month. Most managers, who are significantly underweight banks and tend to be higher quality, may not have seen a benefit. Fund flows propelled the lowest market cap, which outperformed for the month and the year. Fund flows was the theme for the fourth quarter as we saw increased flows into ETFs. Small cap ETFs took in $17.5B for the year and over $12B in the fourth quarter alone, boosting the smallest market cap names by almost 40%. Value managers had the worst showing in small caps with only 10.2% of managers beating the index for the year. The fourth quarter was slightly better as this figure was 23.2%. Value managers were crushed by an underweight in banks and not owning the “right” Materials & Processing names. These two items contributed to the worst showing for Value managers since 2006, where only 6.8% outperformed the R2KV. It should be noted that the following year, 85.4% of managers outperformed the index. Russell 2000 Value Sector Performance Investors have been encouraged by the thought that President-elect Trump will reignite the economy as this helps Value more than Growth. The R2KV rallied 31.7% in 2016, outpacing the R2KG, which suffered its worst defeat to Value since the “Tech Bubble” in 2001. The R2KG was only up 11.3% during this period. For the year, every sector in the R2KV finished in positive territory, which cannot be said for the R2K and R2KG as Health Care finished negative. Health Care has been pummeled in both of these indices as Biotech, a significant underweight in the R2KV, dropped over 22% for the year. Energy and Financials Services continued their momentum from November into December. Financials Services were propelled by Banks, which increased almost 8% and contributed to 42% of the R2KV’s return due to its 23% benchmark weighting. Interest-rate-sensitive REITs, led by lodging, and Utilities rallied after a poor November, with the U.S. 10-Year Treasury Note being slightly up even after the Fed decided to raise rates and its interest rate forecast for 2017. Not only did Energy and Financial Services drive performance in the month of December, they also drove performance in the fourth quarter. Energy continued to be propelled by the announcement of an OPEC production cut, along with the participation from non-OPEC countries. This boost may be short-lived as the deal may not be enough to reduce the glut, especially if countries fail to comply. During the year, there have been massive sector rotations driving performance. Low volatilty sectors led in the first half of the year, while Financials and Energy rotated in to propel returns in the second half. Materials & Processing continued to climb all year, returning a staggering 62.5% for the year outpacing the second best returning sector, Energy, by 18.6%. Opus Capital Management This monthly market overview focuses on quantitative factors that have impacted the small cap market over the prior period. This is a standardized report on factor behaviors from the previous month along with trends that the market has recently exhibited. Be sure to subscribe to our Insights blog to follow along with our latest thinking. The post Opus Capital Management – Quantitative Review Of U.S. Small Cap Value appeared first on ValueWalk.

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Screenshot / CNN President-elect Donald Trump is replacing the announcer who's been behind every presidential inaugural parade since President Dwight Eisenhower's second term in 1957. And the announcer is not happy about it. Charlie Brotman, 89, talked to CNN on Monday about the snub. "I believe the word is probably 'traumatized,'" Brotman told CNN. "I was in shock. And I really felt terrible." Brotman told CNN in an earlier interview that he was informed via email that he wouldn't be announcing Trump's inauguration. "I got the shock of my life," he said. "I felt like Muhammad Ali had hit me in the stomach." Brotman said he was "disappointed" because he thought he would be the announcer. "Then when I read the email I thought I was going to commit suicide," he said. "It was really terrible. I know that I've been doing it for 60 years and nobody has ever asked whether I'm a Democrat, Republican, independent." Washington, DC-based freelance announcer Steve Ray will announce Trump's inaugural parade in Brotman's place. Brotman told CNN that he believed Trump owed Ray a favor and that's why he got picked. Ray volunteered for the Trump campaign. Brotman will still be a part of the inauguration — Trump's team has named Brotman "announcer chairman emeritus" and he has been offered a prime seat at the parade, according to The Washington Post. See Also: Trump's national security pick Monica Crowley plagiarized over 50 sections of her 2012 book 'They are totally embarrassed!': Trump goes on hours-long tweetstorm over Russian hacking Trump statement differs from intelligence report on hacking affecting election outcome

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Robo advisors are automated investment platforms that use algorithms to manage and allocate investor's funds. These services analyze each customer's current financial status, risk aversion, and goals. From here, they recommend the best portfolio of stocks available based on that data. Thanks to this ease of use, robo investing or automated investing has been on the rise in recent years. The reasonably wide selection of online financial advisory services on the market has given consumers options for automating their investments. BI Intelligence, Business Insider's premium research service, forecasts that robo advisors will manage approximately 10% of all global assets under management (AUM) by 2020. This would equate to approximately $8 trillion. So it's clear that these automated services are becoming more prevalent. But a user-friendly experience is just one reason that robo investing has been steadily growing in popularity. Below, we've put together a list of the four most significant factors in automated investing growth. 1) Global wealth is concentrated. The majority of worldwide AUM is in the hands of an extremely small portion of the global population. Therefore, only a few high-net-worth individuals (HNWIs) would need to let robo advisors manage even a portion of their money in order to drastically affect the AUM for automated investors. BI Intelligence expects 60% of these HNWIs to invest 20% of their assets in robo advisors by 2020, which would equate to approximately $6.4 trillion. 2) Asia will push robo advisor adoption. The Asia-Pacific (APAC) region will overtake the U.S. in investable wealth later this year. Therefore, BI Intelligence expects the APAC region to represent $2.4 trillion in robo advisor AUM by 2020. 3) Consumers are interested in automated investment. The investing public is largely receptive to robo advisors thanks to the services' ease of use and ability to take stress and worry away from investors. BI Intelligence found that 49% of HNWIs worldwide would consider letting a robo advisor manage at least some of their wealth. 4) Robo advising has advantages over traditional human financial advisors. In a majority of cases, companies are able to offer robo advisor services with significantly lower fees than traditional human advisors while still maintaining approximately the same return on investment. This lets these companies promote themselves to a much broader segment of the market, such as millennials who might be otherwise averse to place their trust and their money into a human advisor's hands. On top of this, robo advisors usually automate items such as application processing. This eliminates a portion of the friction for customers and also helps companies lower their labor costs, which then turns into savings for customers. Finally, robo advisors oftentimes offer auto-rebalancing, accessibility from multiple devices (smartphones, laptops, tablets, etc.), extremely low or nonexistent minimum investments, and tax loss harvesting. More to Learn This overview of robo advisors' growing popularity is just the beginning when it comes to the automated investing market. That's why BI Intelligence spent months putting together the greatest and most exhaustive guide on robo advisors entitled The Robo-Advising Report: Market forecasts, key growth drivers, and how automated asset management will change the advisory industry. To get your copy of this invaluable guide to the payments industry, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the Complete Robo-Advisor Research Collection, which contains 5 in-depth reports, slide decks, and appendices. >> BUY THE BUNDLE Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of robo advisors. See Also: ROBO ADVISORS: Online financial advisors with automated investing Top 15 best robo advisors of 2017 Robo Advisors: Here's how to craft the optimal customer journey

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Getty/Frazer Harrison/Alberto E. Rodriguez/Kevin Winter When we're wrong, we can admit it. And in our prediction last year, when we predicted beards would die in 2016, we were very, very far off the mark. We apologize. Beards are not, in fact, dead or dying. Far from it. The clearest sign of that is the way the red carpet looked at the year's first major awards show, the Golden Globes. It was, as Jon Hamm put succinctly, a "beard parade." Of the eight men who won a spherical statue for their acting, seven of them were sporting beards. The only clean-shaven man among the winners was Hugh Laurie, a British national who splits his time between London and Los Angeles. The theory we used to posit that the beard was on the downtrend last year was that society had reached "peak beard" — the point at which beards are so dominant, the only way to stick out as an attractive mate would be to be completely clean-shaven. In our defense, the evidence was on our side. Last year's Golden Globes were not nearly as hairy, so it looked like peak beard had already come and gone. Not so, it appears. According to an interview The Times UK did with historian Alun Withey, an academic who will run a three-year research project on the beard and its cultural history in the UK, people have been predicting the end of the beard since 2013. Each time, it seems, they've been wrong, and the beard has remained as strong as ever in the eyes of the public. It's easy to see why. The beard is a shortcut to masculinity, and it will make any man seem older and most seem more attractive (until we reach peak beard). To save face, we won't be making any more predictions. The beard, it seems, is here to stay for at least the time being. We will say, if you're going to grow a beard, at least do it properly. NOW WATCH: Here's why some men have red beards but not red hair See Also: One style lesson every guy can learn from the best-dressed man at the Golden Globes 12 things every guy should keep in his gym bag Here's why it actually matters what you wear to the gym SEE ALSO: One style lesson every guy can learn from the best-dressed man at the Golden Globes DON'T FORGET: Follow Business Insider's lifestyle page on Facebook!

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It's a bad year for people who like dragon-riding. First, "Game of Thrones" gets delayed, and now "Scalebound" is cancelled. Platinum Games / Microsoft Studios That's right: the long-in-development action-RPG game that was announced as coming to Xbox One and Windows 10 PCs for 2017 is no longer planned for release. Microsoft confirmed as much to IGN on Monday in a statement: "After careful deliberation, Microsoft Studios has come to the decision to end production for 'Scalebound.' We’re working hard to deliver an amazing lineup of games to our fans this year, including 'Halo Wars 2,' 'Crackdown 3,' 'State of Decay 2,' 'Sea of Thieves' and other great experiences." The game was an entirely new series, created in partnership between veteran Japanese game studio Platinum Games and Microsoft's game publishing arm, Microsoft Studios. It was a third-person action game where you played as a stylish hero with a dragon partner. It was originally announced back in 2014 with a tongue-in-cheek trailer, and had likely been in development for some time before that. "Scalebound" was shown as recently as last year, during the annual game industry trade show E3 in June: It's not clear why the game is cancelled — likely not from lacking anticipation. The latest trailer for the game (above) looks great! It's got dragons and silly dialog and monsters that make dragons look tiny. Just look at this ridiculous monstrosity: Platinum Games / Microsoft Studios Alas, we'll have to strike this one from the list of our top 50 most anticipated games of 2017. We hardly knew ye! NOW WATCH: This teen makes up to $1,500 a night eating dinner in front of a webcam in South Korea See Also: One man spent 5 years creating an incredible 'Minecraft' universe This massive $9,000 laptop with a curved screen is the most absurd computer I've ever used The hottest 50 video games you shouldn't miss in 2017 SEE ALSO: The hottest 50 video games you shouldn't miss in 2017