That's not backfiring in their socialistic view. They want more people dependent on govt to survive. They buy votes that way. Those 45+M on food stamps (paid for by taxing the middle class who still have jobs in the private sector) are slam dunk votes for the Democrats. Why not add another few million to that if you're a Democrat in DC? Why do you think the work force participation numbers are at multi-decade lows while at the same time new jobless claims are also at record lows? It's because many just don't want to go back to work, or can make it by without having to if they qualify for benefits and make a little "low profile" cash income on the side. All those votes are going to Hillary. If you do have a job, keep working and paying your taxes. Many other's depend on it.
As expected, Obama's going for the jugular when energy prices are at a temporary unsustainable low due to Saudi Arabia and Iran.... doing it at a time when the average American won't notice the difference in the short term. After much nat gas & oil E&P gets shuttered, along with coal mines, and LNG exports begin, there will be extremely painful price spikes in electricity and gasoline hurting the lower and middle class American. By then, Obama will out of office passing the blame. Mission accomplished in his book.
Its shouldn't be as this form of energy has even less carbon footprint than wind/solar. (Yes, those have a carbon footprint in their manufacturing. Check the facts.)
I cut half last week 60. The short term up trend has been broken. I may buy my pos back if it holds at 50, and the chart says it needs to test 50.
I had sold jan 2016 puts to bottom fish while collecting some decent income. Yes, they went in the money for the buyer. Last week, the shares got assigned to me. FWIW, I have never had shares assigned to my short PUT positions this early before expiration *ever*. This just tells me shorts are covering now so maybe a bottom is in for a while. Lots of overhang, so not expecting this to go above $5 unless political outlook improves in coal's favor in 2016. Coal (and many other industries) need a administration that will neuter the EPA and prevent it from burdening business with overbearing impractical regulation with limited/ineffective impact.