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Obamacare: I’ve Started So I’ll Finish

Pivotfarm's picture




 

There are people that are like magnates when it comes to raking in the millions and there are some that have an even stronger pull than usual where finances are concerned. As Warren Buffet openly states that he believes that a default on US debt will be catastrophic and that lawmakers in Congress need to get their act together and get the federal government back to work by passing the budget we might well wonder if it’s just for show or if he really believes that. Why would someone who made $10 billion out of the lifelines that he threw to the failing companies after the financial crisis of 2008 want to forego making even more than that this time round?

Buffet on Shutdown

Warren Buffet has recently asked the politicians of the US to stop using the debt limit as some sort of weapon to win the policy debates. But, we had better hope that he’s not talking about weapons of mass destruction (as they never existed the last time that word was banded about in the country).

We should be asking though whether Buffet is really eyeing the best interests of the country. The man made $10 billion out of the loans that were granted to failing companies and banks five years ago. Yes, he had the money to shore them up then and no money lender is philanthropic enough to do it for free of charge and with no interest; but we should wonder if he will be “fearful when others are greedy or greedy when others are fearful” (to quote his favorite saying) this time around.

Through Berkshire Hathaway Inc. Buffet has so far made $10 billion and he still hasn’t got the entire return on his investments back. Maybe he’ll be using the money he has made when the stock market drops this time round. He might even turn out to be the lender of last resort for the US administration. Who knows?

  • Buffet lent $4.4 billion to Mars Inc’s subsidiary Wrigley in 2008.
  • Berkshire bought up $2.1-billion worth of shares in Goldman Sach’s in 2008 and invested a further $5 billion.
  • Dow Chemical borrowed $3 billion in 2009.
  • The Bank of America got $5 billion in 2011.
  • Overall Berkshire invested $26 billion.

National Debt

When Lehman Brothers collapsed it brought the stock market to its knees and the market lost 50% of its value in the aftermath. Then we were only talking about a measly $517 billion for Lehman. The US has $12 trillion in debt that is outstanding. Even when we are told that the Chinese and the Japanese own the US debt the answer comes back from some that it doesn’t matter. There are some that are even under the delusion that it’s acceptable to have so much debt in the US since Japan is in a worse state of affairs. Japan may have almost double the national debt of the US in terms of a percentage of Gross Domestic Product, but that doesn’t make things any better for the US to carry on willy-nilly with the frenzied spending and it certainly doesn’t mean that they can go on spending as they have done in the past. Is it because the guy round the corner does it that I can do it. Stop looking over the garden fence Uncle Sam and start looking in your own back yard.

  • China has a national debt of $2, 403, 410 150, 771 and that debt stands at 40.36% of GDP.
  • Japan has a national debt of $11, 266, 212, 135, 309 and debt that equals 193.41% of GDP.
  • The USA has a national debt of $17, 265, 489, 323, 435 and that equals 107.88% of GDP.

At least that was how things stood today when the national debt clocks were checked. That’s already out of date right now, however. It was old news as soon as it was written.

Sometimes we might wonder whether it would actually be better for the whole world to collapse and those that believe that there needs to be a rethink of how the economies of the world actually act and react together.

Some believe that it might be a good think for there to be an implosion that will bring the banks down, kill off the money-makers and the buck reapers and get rid of those that started the printing presses rolling the greenbacks out.

Granted, we all might go under but we could all start from scratch in a brand new world and just probably end up doing the self-same thing since we never learn from our mistakes. It will never happen, but a few might get hurt along the way as we enter day 9 of the shutdown and the debt ceiling deadline is just a week away.

Come on policymakers, carry on and keep knocking of 0.5% from the growth rate of the USA and spiral us into not just recession, but depression. We will need to invent a new word for the effects on the world and that word might well beObamacaression that will be on the tips of the tongues of the American people. That’s where it all stemmed from. They voted a man into office so the ideal that all Americans might have healthcare coverage one day could see the light of day in a new world that then changed tack when the chips were down and went on to believe that meritocracy should be the order of the day.

Obamacare was the ideal that was the start of all of this and Obamacare will be the caress of death of the US.Obamacaression. It was the start of this and it will be the finish of it too. The US may not default, but it will do a damn good job of destroying what has been built up over the past five years. Obamacare: I've started so I'll finish. You don't have to be Mastermind to know what will happen next.

Maybe that’s not such a bad idea. We need to restructure the way the economies work, don’t we?

Originally posted: Obamacare: I’ve Started So I’ll Finish

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Thu, 10/10/2013 - 13:02 | 4041949 Serfs_Up
Serfs_Up's picture

Real Simple: just repudiate the "debt" ... it's not ours.. it's the bankers..

 

Oh yeah Fuck Mrs. DebtFire!

Thu, 10/10/2013 - 16:29 | 4042685 mkkby
mkkby's picture

That is the eventual end game, for sure.  Either the debt will be wiped away by hyperinflation, haircuts or forgiveness.  It ain't gonna be paid in full.  That has been impossible for a long time.

Therefore, we should be like Greece -- get as much debt as we can.  Spend and party.  Since it will never be paid back, it is FREE MONEY/FIAT.  Congress is doing a good job of this.

Say "thanks" to the Chinks and Japs for paying half our tax bill.  Suckers.

Thu, 10/10/2013 - 12:09 | 4041745 bagehot99
bagehot99's picture

It's also rather misleading to present the US National Debt as $17 Trillion.

Unfunded liabilities are the functional equivalent of debt, unless you plan to not honor them, and if you add those in our debt is five times Japan's.

So stick that in your fucking teleprompter and spit it out, President Lying Sack 'o' Shit.

Thu, 10/10/2013 - 11:29 | 4041585 GubbermintWorker
GubbermintWorker's picture

Jesus Christ on a pogo stick....learn the difference between magnates and magnets.

Thu, 10/10/2013 - 11:24 | 4041533 obelisks
obelisks's picture

Warning: Enrolling in Obamacare allows government to link your IP address with your name, social security number, bank accounts and web surfing habits.This IP address is then handed over to the NSA thanks to its new mega-black-hole data center in Utah, where your IP is cross-referenced with all website visits, including:

"Anti-government" websites
• Porn sites
• Gambling sites
• File sharing sites
• "Terrorism" support sites
• Encryption service sites like Hushmail
• Chat rooms, message boards and more

 It is actually a government-run Trojan Horse that suckers people into creating accounts where they hand over:

• Name and address

• Email address and password

• Social security number

• Private bank account details

• Employer details and other information

  http://www.naturalnews.com/042427_Obamacare_private_details_Trojan_Horse...

 

Thu, 10/10/2013 - 16:23 | 4042666 mkkby
mkkby's picture

They have that i/p address link if you've ever purchased something online, with either a credit or debit card. 

 

Thu, 10/10/2013 - 15:20 | 4042430 Tom Servo
Tom Servo's picture

There's this concept called "DHCP" where, my IP address today, might not be my IP address tomorrow!  So i hope the peons in Utah figure that out, i don't want to be blamed for someone else's porn habits!

Thu, 10/10/2013 - 08:28 | 4040845 Vooter
Vooter's picture

It's BUFFETT, not "Buffet." Jesus christ...hire a fucking copy editor if you can't figure this shit out by yourself. It makes you look retarded...

Thu, 10/10/2013 - 09:23 | 4041027 d edwards
d edwards's picture

I've started so I'll finish-what, destroying the US economy AND health care system? asshole

Thu, 10/10/2013 - 07:44 | 4040775 wonderatitall
wonderatitall's picture

bush did it. i-uhbama an god. end this blue state fascist model of slavery.

 

 

Thu, 10/10/2013 - 08:19 | 4040647 butchtrucks
butchtrucks's picture

I honestly do not understand this piece at all. Very incoherent. 

I have read the following sentance about 10 times but still can't make any sense of it whatsover:

Obamacare was the ideal that was the start of all of this and Obamacare will be the caress of death of the US.Obamacaression. It was the start of this and it will be the finish of it too.

 

WTF?

Thu, 10/10/2013 - 11:16 | 4041524 mess nonster
mess nonster's picture

This is the moral of the story, ie:

The medicine is worse than the disease.

The things you love will kill you.

There is no free lunch.

Don't let the fox (Insurance industry) guard the henhouse (medical care).

A nation ruled by women and slaves will soon perish.

 

 

Thu, 10/10/2013 - 04:45 | 4040631 lakecity55
lakecity55's picture

"Warren, thanks for the new muscle boy magazines! Here is some inside investing info."

Thu, 10/10/2013 - 04:15 | 4040617 ebworthen
ebworthen's picture

Did you mean magnet in the first sentence?

Not that Buffet isn't a magnate, a rather obnoxious one albeit.

Obamacare is a continuation of the crony capitalist cabal of both the left and the right that works for banks, insurers, and corporations.

It is not about affordable or really about healthcare; that is why there are so many exemptions, you have to work more than 30 hours, employers have been given a pass this year, but every citizen has to pony up or be penalized by the I.R.S.

Obamacare is an asset confiscation scheme; more money being shoveled from responsible working savers to corporations and government.

We have been on this path - thanks to both parties - for a LONG time (1913?).

Thu, 10/10/2013 - 08:01 | 4040799 Shad_ow
Shad_ow's picture

Yes, it is the crown jewel of the Obama & Co. agenda.  It is designed to confiscate, control, and conquor what is left of the earnings of Americans who have been self sufficient and desire freedom.

F the Marxists in Washington, both R & Ds.

Thu, 10/10/2013 - 02:18 | 4040560 thereisonlyonelaw
thereisonlyonelaw's picture

I find the idea that congress is "not doing its job" amusing. As I understand it, congress passed a budget just fine. The problem is that the senate and the president did not accept it. So why exactly is congress being talked down to as some sort of spoiled child not doing its job? This IS their job!

Thu, 10/10/2013 - 04:50 | 4040635 lakecity55
lakecity55's picture

Yep.

Bath House is an ideologue. Real presidents must be negotiators.

Not stompy feet.

"wahwah!"

Thu, 10/10/2013 - 02:09 | 4040552 q99x2
q99x2's picture

Historic opportunity of 200 years for the military of the United States of America to move in, re-instate the Constitution of the United States of America and then go after the traitor's stolen wealth and redistributed it back into a publicly owned and operated banking system of the United States of America. 

Thu, 10/10/2013 - 07:19 | 4040738 johnQpublic
johnQpublic's picture

the military funded by whom exactly?

Thu, 10/10/2013 - 09:39 | 4041099 dontgoforit
dontgoforit's picture

I wonder what the national debt of Russia, Brazil, India and Mexico are?  A list of worst-to-best would be interesting.  What's the total world debt?  and total 'net' worth?  Just wondering.  By the way, the military will not turn on the govt; they take an oath and they'll do as they're told.  Beware - that means they'll gun you down if they're told to.

Thu, 10/10/2013 - 11:11 | 4041505 mess nonster
mess nonster's picture

Hewre is a list of natinal debts, alphabetically.

http://en.wikipedia.org/wiki/List_of_countries_by_public_debt

Libya seems to have the lowest nat'l debt- of course now we know why that nation was attacked and sunsumed into the CB matrix.

 

Thu, 10/10/2013 - 15:58 | 4042589 The Old Man
The Old Man's picture

Holy Crap! I'm moving to Finland or Norway. Let's see, "Yah, you have berry big breasts. Can jou be my howsekeeper? Yah?"

On my pension I'd be a millionaire over there!

Thu, 10/10/2013 - 15:57 | 4042586 The Old Man
The Old Man's picture

Holy Crap! I'm moving to Finland or Norway. Let's see, "Yah, you have berry big breasts. Can jou be my howsekeeper? Yah?"

On my pension I'd be a millionaire over there!

Thu, 10/10/2013 - 02:03 | 4040546 TorchFire
TorchFire's picture

Real economies structure themselves. Anything else is more of the same centrally orchestrated ponzi.

Do NOT follow this link or you will be banned from the site!