Obamacare

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The Polar Vortex Is Back... In The Middle Of July





just to make sure that the abysmal Q1 GDP which has now spilled over into Q2 and will likely see the US economy growing in the mid-2% range, has a sufficiently broad "excuse" in the third quarter of the year, here comes - in the middle of July - the polar vortex 2.0.  As WaPo reports, "However you choose to refer to the looming weather pattern, unseasonably chilly air is headed for parts of the northern and northeastern U.S at the height of summer early next week."

 
Tyler Durden's picture

Paul Craig Roberts: "The US Economy's Phantom Jobs Gains Are A Fraud"





Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality. What you can take away from this is the opposite of what the presstitute media would have you believe. For the most part economists have turned a blind eye. Economists serve the globalists. It pays them well. The corruption in present-day America is total. No one serves truth and liberty. America has left us. We now have the tyranny of the Orwellian state that rules, not by the ballot box and Constitution, but by force and propaganda.

 
Tyler Durden's picture

Why Obamacare Is Pushing Up Health Insurance Premiums





Now that Obamacare has been enacted, Americans across the nation are seeing their health insurance bills spiking, leading to what has been a documented slide in full-time hiring, a drop in consumer discretionary spending, not to mention stagnant and declining real wages. In short: a broad economic contraction (yes, yes, who could have possibly foreseen this). But how is it that insurers set their prices? As Bloomberg explains, insurers are calculating what to charge for health plans in 2015, which is no simple task. Actuaries can’t easily forecast how often the millions of new Obamacare enrollees will go to a doctor. New federal rules and expensive drugs will also increase costs. Wrong guesses could wipe out profits. Here is a quick and dirty way to understand why premiums are going up.

 
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Congressional Panel Accused Of Leaking Insider Information, Refuses To Comply With Probe





The biggest congressional leakage scandal in the past year is the most recent one to cross the rabit hole of all-out absurdity: According to Reuters, the Ways and Means panel said on Friday it should not have to comply with a federal regulator's demand for documents sought for an insider-trading probe involving the staff director of a subcommittee and a lobbyist. The House Ways and Means Committee argued in a court filing that U.S. District Judge Paul Gardephe in New York should deny the Securities and Exchange Commission's attempt to subpoena documents from the committee and its healthcare subcommittee staff director Brian Sutter.

 
Tyler Durden's picture

No Q3 GDP Boost: Hurricane Arthur Weakens To Category 1, Moves Away From East Coast





Anyone hoping for a resolution of the biggest economic conundrum of modern times will have to wait. What is the conundrum you ask? Simple: whether or not extreme adverse weather is positive or negative for GDP. It appears that any expectation Arthur would devastate the east coast, with either positive or negative GDP consequences, has been cancelled. Because not only has Arthur just been lowered to a Category 1 hurricane from 2, but now appears to be moving away from the east coast entirely.

 
Tyler Durden's picture

Is The Cloward-Piven Strategy Being Used To Destroy America?





In the mid-sixties at the height of the “social revolution” the line between democratic benevolence and outright communism became rather blurry. The Democratic Party, which controlled the presidency and both houses of Congress, was used as the springboard by social engineers to introduce a new era of welfare initiatives enacted in the name of “defending the poor”, also known as the “Great Society Programs”. These initiatives, however, were driven by far more subversive and extreme motivations, and have been expanded on by every presidency since, Republican and Democrat alike.At Columbia University, sociologist professors Richard Cloward and Francis Fox Piven introduced a political strategy in 1966 that they believed would eventually lead to the total transmutation of America into a full-fledged centralized welfare state (in other words, a collectivist enclave). The spearpoint of the Cloward-Piven strategy involved nothing less than economic sabotage against the U.S..

 
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Obama To Overrule Supreme Court? President Considers "Mitigating" Obamacare Ruling





Having had his omnipotence chipped away at last week, President Obama has - seemingly - been pushed too far by the Supreme Court's decision on contraception and Obamacare this morning: The White House stated...

SUPREME COURT DECISION ON CONTRACEPTION COVERAGE JEOPARDIZES HEALTH OF WOMEN EMPLOYED BY THESE COMPANIES
WILL WORK WITH CONGRESS TO MAKE SURE WOMEN AFFECTED BY RULING WILL HAVE SAME ACCESS TO CONTRACEPTION
WILL CONSIDER WHETHER PRESIDENT CAN ACT ON HIS OWN TO MITIGATE EFFECT OF SUPREME COURT RULING

Totalitarian? You decide... One wonders if the phrase "do you know who I am?" was uttered this morning?

 
Tyler Durden's picture

Supreme Court Gives Obamacare Opponents Biggest Legal Victory Yet





Moments ago the US Supreme Court - the same Supreme Court which two years ago upheld Obamacare but as a tax, something the administration has since sternly denied - dealt Obamacare its biggest legal blow to date, and alternatively handing Obamacare opponents their largest court victory yet, when in a 5-4 vote SCOTUS ruled that business owners can object on religious grounds to a provision of President Barack Obama's healthcare law that requires closely held private companies to provide health insurance that covers birth control. 

 
Tyler Durden's picture

Is Obamacare Bad For US Economic Growth?





Following the rather stunning shenanigans of Q1 GDP with regard healthcare spending (as we detailed here), we thought, four years after its passage in 2010, it worth analyzing Obamacare's economic impact? Beforehand, economists generally believed that the broader coverage would raise the demand for healthcare goods and services, although there was some disagreement about related effects on healthcare inflation. In reality, as UBS notes, there was too much optimism about a positive immediate economic impact and a negative price inflation effect.

 
Tyler Durden's picture

Networks Vs. Hierarchies: Which Will Win?





Many believe the most significant battle of our era is between the forces of Decentralization vs. Centralization. Niall Furguson takes that battle and looks at it from a historical perspective, describing it as Networks vs. Hierarchies, and warns we "need networks, for no political hierarchy, no matter how powerful, can plan all the clever things that networks spontaneously generate. But if the hierarchy comes to control the networks so much as to compromise their benign self-organizing capacities, then innovation is bound to wane."

 
EconMatters's picture

No Inflation, Thanks to ObamaCare





The government now has another measure which under-reports inflation by accounting chicanery...

 
Tyler Durden's picture

Blind Faith





Obamacare, the Stimulus, TARP, Fast and Furious, support of the Egyptian regime change, Libyan Leading from Behind, four American killed in Benghazi, blaming a video for the Benghazi attacks, the IRA targeting, NSA email and phone file storage, Syrian Red Line, the Russian takeover of Crimea, the VA handling of veterans, release of Taliban terrorists from Guantanamo, the onslaught of children crossing the Mexican border, two years of lost emails of the key IRS individual and now Iraq. I can’t imagine any previous U.S. President having so many scandals attributed to his administration and virtually none of them adequately answered or resolved.

 
Tyler Durden's picture

In The First Quarter $250 Billion In Federal Debt Bought Negative $74 Billion In GDP





Iin Q1, US total Federal debt rose by $250 billion, to a record (duh) $17.6 trillion. This debt "bought" a negative $74 billion in GDP, which declined to $17.0 trillion. Said otherwise, this was the first quarter since the end of the recession when debt rose (by a whopping amount), and when GDP declined sequentially in nominal terms.

 
Tyler Durden's picture

Boehner To Sue Obama





Now that Eric Cantor is history, crushed by an unexpected Tea Party "David" (literally and metaphorically) as the US population finally begins to say no to an artifical "two-party" system which is quite united in only serving its Wall Street masters, it is time for that other republican, none other than the consummate folding lawn chair John Boehner, to scramble fearing for his own political career. And since the only way the GOP knows to challenge the implosion of the US republic is by making loud noises and providing hours of hollow theatrical entertainment, here comes Boehner with the biggest soap opera he could muster: moments ago the speaker announced he plans to sue Obama "on behalf of the House over his frequent use of executive actions that Republicans believe are beyond his authority."

 
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