Commentary on how the right to tax saved ObamaCare and Social Security, Egypt’s waiting game, health care game changer, and Canada sans Quebec.

History speaks.

Daily Beast -- The 1934 Dinner Party That May Have Helped Save Obamacare
When FDR created Social Security, his labor secretary feared the court would reject it—until a justice told her over dinner that framing it as a tax could save it.

Related.

Telegraph -- Tim Knatchbull: the IRA killed my grandfather, but I’m glad the Queen met their man
Despite losing several family members in a bomb attack, Tim Knatchbull is remarkably forgiving about Martin McGuinness receiving a royal handshake.

Waiting on Egypt’s president-elect, Mohamed Morsi. (ed’s note: the comparison with Spain in 1982 is spurious).

Project Syndicate -- Egypt Holds Its Breath
“You are the authority, above any other authority. You are the protectors, whoever seeks protection away from you is a fool...and the army and the police are hearing me,” said Egypt’s president-elect, Mohamed Morsi, to hundreds of thousands in Tahrir Square.

Keep an eye on the US$/Yen exchange rate, a break to the upside for the dollar would be equity positive and bond bearish.

Financial Sense -- Massive Japanese Debt Monetization Is Coming, Yen to be Devalued
You can only stretch a rubber band so far before it snaps back or is torn, so too is the case with government indebtedness.

More of the same is less.

Prudent Bear -- Recession of Diminishing Marginal Returns
Since 2008, economic policies throughout the rich world have boiled down to one word: stimulus.

Breaking the genetic code and implications for the health care industry.

Thompson Reuters -- Cracking The Genetic Code Part 1
In part one of the Thomson Reuters Knowledge Exchange session titled “Cracking The Genetic Code,” Chris Kibarian moderates a panel with Brian Fiske, John Quackenbush and Paul Rejto about the types of scientific advancements needed to develop the treatments and life saving therapeutics that will change and improve human kind.

Is the threat of Quebec sovereignty different this time? (ed's note -- will Jack Layton's legacy be the break up of Canada?)

Globe and Mail -- Who will speak up for Canada?
Think back to 1995, when Canada was in the throes of a national unity crisis.