Guest Post: Is Obamacare The Final Nail In The Coffin Of The Middle Class?

Tyler Durden's picture




 

Submitted by Michael Snyder of The Economic Collapse blog,

If there were any shreds of hope left that the stunning decline of the middle class could be turned around, Obamacare has absolutely destroyed them.  Over the past decade or so, the middle class in the United States has been absolutely eviscerated.  The number of working age Americans without a job has increased by 27 million since the year 2000, median household income in the U.S. has fallen for five years in a row, and the poverty numbers in this country are spiraling out of control.  And now here comes Obamacare.  As you will see below, Obamacare is causing millions of Americans to lose their current health insurance policies, it is causing health insurance premiums to explode to absolutely ridiculous levels, and it is systematically killing jobs even though the employer mandate has been delayed for a while.

All of this is creating a tremendous amount of stress for millions of middle class families that are already stretched extremely thin financially.  According to CNN, a survey that was conducted earlier this year found that 76 percent of all Americans are living paycheck to paycheck.  Most of those families simply cannot afford to pay much higher health insurance premiums for new policies that also come with much larger deductibles and significantly increased out-of-pocket costs.  Millions of those families will ultimately end up choosing to do without health insurance altogether, and that will create a whole host of new problems.  This is a disaster that is so enormous that it is really hard to put into words.  If the U.S. health care system was a separate country, it would be the 6th largest economy on the entire globe all by itself.  And now Obamacare is going to bring the entire U.S. health care system to its knees.

Obamacare: Since October 1st, The Number Of Americans With Health Insurance Has Fallen By Nearly 4 Million

Last week, Barack Obama decided to allow Americans to keep their current health insurance plans for one more year.

Isn't that generous of him?  Especially considering the fact that he promised us over and over that if we liked our current health insurance policies that we would be able to keep them permanently.

The funny thing is that Obama is not actually changing the law.  So if your health insurance company allows you to stay on your current health insurance plan that does not meet the requirements of Obamacare, it is technically breaking the law.

And if you continue to stay on that current health insurance plan that does not meet the requirements of Obamacare, you are technically breaking the law.

It is just that Obama has promised not to enforce what the law says for one year.

For a president to just blatantly disregard the rule of law is a very dangerous precedent.  Do we really want the president to have the power to decide what laws are going to be enforced and what laws are not going to be enforced?

That sounds dangerously close to a dictatorship to me.

And in any event, there are many Americans that are not going to be able to keep their current policies no matter what Obama says.  For example, just two hours after Obama announced his plan last week, the state of Washington announced that they would not be allowing insurance companies to extend their old health insurance plans if they don't comply with Obamacare under any circumstances...

State Insurance Commissioner Mike Kreidler has rejected President Obama’s proposal to allow insurance companies to extend health insurance policies for people who have received notices that their policies will be cancelled at the end of the year.

 

Within two hours of President Obama’s news conference announcing the proposed administrative fix for Americans upset by their policy cancellations, Kreidler issued a statement rejecting the proposal.

 

“I understand that many people are upset by the notices they have recently received from their health plans and they may not need the new benefits [in the Affordable Care Act] today,” he said. “But I have serious concerns about how President Obama’s proposal would be implemented and more significantly, its potential impact on the overall stability of our health insurance market.”

 

“I do not believe his proposal is a good deal for the state of Washington,” Kreidler’s statement continued. “We will not be allowing insurance companies to extend their policies.”

How do you think the people of the state of Washington will respond to that?

Things are getting crazy out there, and the number of people that are losing their health insurance policies is absolutely stunning.

According to the Wall Street Journal, so far 106,185 Americans have enrolled in Obamacare since October 1st.  Most of those that have successfully enrolled have done so through the state insurance exchanges.  So far, only 26,794 Americans have signed up for health insurance using the federally run exchanges on HealthCare.gov.

Meanwhile, during that same time frame, 4.02 million Americans have had their health insurance policies cancelled.

So that means that the number of Americans with health insurance has actually decreased by 3,918,205 since October 1st.

Wasn't Obamacare supposed to result in more Americans being covered?

And according to U.S. Senator Rand Paul, Obama not only knew that this would happen, he actually wrote the regulation that caused this to happen...

"I’m still learning about it. It’s 20,000 pages of regulations. The Bill was 2,000 pages and I didn’t realize this until this week, the whole idea of you losing or getting your insurance cancelled wasn’t in the original Obamacare. It was a regulation WRITTEN BY PRESIDENT OBAMA, three months later. So we had a vote, this is before I got up there. The Republicans had a vote to try to cancel that regulation so you COULDN’T BE CANCELLED, to grandfather everybody in. You know what the vote was? Straight party line. EVERY DEMOCRAT VOTED TO KEEP THE RULE THAT CANCELS YOUR INSURANCE."

So now millions of Americans, including women battling cancer, are losing health insurance plans that they were depending upon.

Thanks Obama?

Obamacare: Skyrocketing Health Insurance Premiums

How much more are you willing to pay for health insurance than you are paying right now?

10 percent?

20 percent?

30 percent?

Well, according to one study health insurance premiums for men are going to go up by an average of 99 percent under Obamacare and health insurance premiums for women are going to go up by an average of 62 percent under Obamacare.

And of course some groups are going to see increases that are much larger than that.  For example, it is being projected that health insurance premiums for healthy 30-year-old men will rise by an average of 260 percent.

Ouch.

And there are some families out there that have already been hit with health insurance premium increases that are absolutely jaw-dropping.  In a previous article, I included the example of one family down in Texas that has been hit with a 539% rate increase...

Obamacare is named the "Affordable Care Act," after all, and the President promised the rates would be "as low as a phone bill." But I just received a confirmed letter from a friend in Texas showing a 539% rate increase on an existing policy that's been in good standing for years.

 

As the letter reveals (see below), the cost for this couple's policy under Humana is increasing from $212.10 per month to $1,356.60 per month. This is for a couple in good health whose combined income is less than $70K -- a middle-class family, in other words.

Obamacare: Enormous Deductibles And Huge Out-Of-Pocket Expenses For All

It isn't just health insurance premiums that are going up either.  Deductibles are going up too.  In fact, just check out what one survey of Americans living in seven different states recently discovered...

Expenses for some policies can reach $6,350 for a single person and $12,700 per family, the most allowed by the health-care law, according to a survey by HealthPocket Inc. of seven states, including California and Ohio. That’s 26 percent higher than the average deductible in the seven states, and a scenario likely repeated across the country, said Kev Coleman, head of research and data at Sunnyvale, California-based HealthPocket.

That same article has a great quote from an elderly New Jersey resident.  82-year-old Larry Saphire thinks that if you have to pay a $5,000 deductible up front, "you might as well not have any insurance at all"...

“If you have to pay $5,000 upfront” when illness hits, “you might as well not have any insurance at all,” said Larry Saphire, 82, of West Orange, New Jersey, who shopped for coverage for his wife and two children, ages 16 and 21. “That’s not insurance.”

 

On California’s state-run exchange site, the standard low-premium “bronze” plan carries a $5,000 deductible per person, a $60 co-pay to see a doctor and a 30 percent fee, known as coinsurance, on hospital care. In Rhode Island, Blue Cross Blue Shield’s bronze plan has a $5,800 deductible while Missouri’s U.S.-run exchange offers plans by Anthem Blue Cross with the maximum-allowable $6,350 in out-of-pocket costs.

Obamacare: The Quality Of Care Is Going To Go Into The Toilet

A lot of Americans that are signing up for Obamacare are going to be in for a huge shock.  Many of the best hospitals and many of the best doctors are not covered by their plans...

Meanwhile, sometime between March and June, the other shoe drops: People who bought exchange policies realize that the restricted networks insurers created to keep the premium costs low cut out the best hospitals and doctors. A newly insured child with cancer cannot get into a top pediatric hospital because her insurance has zero coverage for out-of-network emergency care. Tearful Mom goes on the evening news and says that she thought when they went on Obamacare, that meant they were safe, and why can’t I take my baby to Philadelphia Children’s Hospital, Mr. President?

Can you imagine being a parent in that situation?

In response, some hospitals are already filing suit over this.  For instance, check out what is happening over in Seattle...

Seattle Children’s Hospital filed suit against Washington State’s Office of the Insurance Commissioner this week, after Obamacare implementation caused the hospital to be cut from four of the six insurance plans offered by the new Washington Health Benefit Exchange.

And even if you are on Medicare that does not mean that the quality of your care is going to stay the same either.  As Reuters just reported, UnitedHealth is dumping "thousands of doctors" from their Medicare Advantage plans for the elderly because of Obamacare...

UnitedHealth Group dropped thousands of doctors from its networks in recent weeks, leaving many elderly patients unsure whether they need to switch plans to continue seeing their doctors, the Wall Street Journal reported on Friday.

 

The insurer said in October that underfunding of Medicare Advantage plans for the elderly could not be fully offset by the company's other healthcare business. The company also reported spending more healthcare premiums on medical claims in the third quarter, due mainly to government cuts to payments for Medicare Advantage services.

In the United States, we already pay much more for health care than everyone else in the world, and we typically have to wait longer to see a doctor than most of the rest of the industrialized world does.

Now Obamacare is going to make all of this even worse, and the quality of the care that we receive is going to go downhill fast.

Obamacare: The Jobs Killer

A while back, Obama unilaterally made the decision to delay the implementation of the employer mandate until 2015.

That was probably a good political decision, because it would have been a huge political issue in the 2014 elections.

But the truth is that we won't have to wait until 2015 for Obamacare to start killing jobs.  In fact, according to CNBC it is already happening...

Approximately one-third of business decision-makers at companies with between 40 and 500 employees, say the health-care law has already increased their costs due to hikes in both the cost of insurance and compliance, according to a recent report from political-research firm Public Opinion Strategies. As a result, many business leaders say they are already making personnel decisions based on the Affordable Care Act.

 

Among franchised businesses, 27 percent report their company has replaced full-time workers with part-time workers and 31 percent have reduced worker hours. Among non-franchised businesses, 12 percent are replacing full-time workers with part-time workers or reducing hours. This is happening now, with more than a year before the mandate goes into effect; and undoubtedly, these numbers will rise as we approach next July's "look back" period for tabulating workers' hours.

It is kind of startling that we are already seeing employers make such big changes even though the employer mandate does not come into effect until 2015.  You can find a very long list of some of the employers that have already either eliminated jobs or cut hours because of Obamacare right here.

Remember, this is just the tip of the iceberg.  Once we get closer to the deadline things are going to get much, much worse.

At a time when the middle class desperately needs jobs, Obamacare is going to slaughter them.

And even if you are able to keep your current job, that does not mean that your health plan will remain the same.  In fact, Forbes is projecting that a staggering 51 percent of all employment-based health insurance plans will be canceled and replaced with new ones.

Overall, Forbes is projecting that an astounding 93 million Americans will eventually lose their current health insurance policies due to Obamacare.

Obamacare: Providing Huge Incentives For Many Americans To Work Less And Make Less Money

Did you know that Obamacare is going to cause millions of Americans to want to keep their incomes under certain levels?

If you make too much money under Obamacare, you will miss out on some absolutely massive health care subsidies.  The following is an excerpt from one of my previous articles...

-----

The figures that you are about to see were calculated using the Kaiser Family Foundation subsidy calculator.  These numbers apply to a husband and a wife that are both 62 years old.

A non-smoking, married couple living in San Francisco, California earning $63,000 a year will have to pay $20,318 a year for a silver plan under Obamacare and $12,647 a year for a bronze plan.

At $63,000, that couple would be making too much money to be eligible for a subsidy, so that couple will have to pay the total cost of whatever plan they choose by themselves.

But if that couple only made $62,000 a year, things would dramatically change.

The plans would still cost the same, but the couple would now be eligible for an Obamacare subsidy of $14,428.

So a silver plan would end up costing them only $5,890, and they would ultimately pay nothing for a bronze plan.

In other words, by reducing their income by $1,000, that couple would save $14,428 if they got a silver plan or they would save $12,647 if they got a bronze plan.

Isn’t that bizarre?

-----

In the end, millions upon millions of middle class families will decide to go without health insurance entirely for one reason or another.

This will work great until they get into an accident or become seriously ill.

As I have discussed previously, approximately 60 percent of all personal bankruptcies in the United States are related to medical bills.  And most of those bankruptcies actually happen to people that are supposedly "covered" by health insurance.

Obamacare is going to make all of this so much worse.  Millions of middle class families will end up with no health insurance at all, and because so many of them are living paycheck to paycheck a single health emergency will be enough to send them hurtling down the path to financial oblivion.

If you get into an accident, a visit to the emergency room and a single night in the hospital can easily cost tens of thousands of dollars in many areas of the country.

If you get a serious illness such as cancer, the medical bills can be absolutely astronomical.  For instance, there are many cancer patients that rack up medical bills well in excess of a million dollars by the time that they die.

Something desperately needs to be done about our horrible health care system.  Unfortunately, Obamacare is going to make just about everything that is bad about our current system much, much worse.

And the American people are becoming increasingly disgusted and frustrated with Obamacare.  According to Real Clear Politics, an average of recent opinion polls shows that the American people are opposed to Obamacare by an average margin of 14.2 percentage points.

So what do you think about Obamacare?

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Mon, 11/18/2013 - 22:16 | 4168018 dcohen
dcohen's picture

It all seems like a horrible nightmare that refuses to die, can someone try to explain to me again, how did Barry the Kenyan end up the President of the United States?

Mon, 11/18/2013 - 22:25 | 4168063 ShrNfr
ShrNfr's picture

Racism and suburban liberal guilt.

Tue, 11/19/2013 - 00:10 | 4168442 bunzbunzbunz
bunzbunzbunz's picture

Not alot, but still FREE BITCOINS: http://freebitco.in/?r=25727

Tue, 11/19/2013 - 02:49 | 4168685 thisandthat
thisandthat's picture

Stuff your ponzi scheme!

Tue, 11/19/2013 - 03:25 | 4168727 bigkahuna
bigkahuna's picture

This bullshit is going to start resulting in a body count. At what point do we do something about this? I guess if we have no cajones, then the body count will just start growing and real darwinism (see also eugenics) takes hold.

 

Nice job Obama. The buck stops with you - no matter how you or the media spins it. You will be described as an atrocity. The rest of the socialists were just mis-guided, with utopian foolishness and fools to follow it (Carter, Johnson, Roosevelt)--- but not you, you just got busy killin'.

Tue, 11/19/2013 - 03:28 | 4168733 Deo vindice
Deo vindice's picture

There's still a middle class?

Tue, 11/19/2013 - 04:23 | 4168769 Lost My Shorts
Lost My Shorts's picture

Mr. Collapse is a bit loose in his reasoning.  In his own words, "As I have discussed previously, approximately 60 percent of all personal bankruptcies in the United States are related to medical bills.  And most of those bankruptcies actually happen to people that are supposedly "covered" by health insurance."

The cheap insurance policies that people are losing are exactly the insurance policies that leave them in bankruptcy as the author notes.  One reason why Obamacare policies are so crazy expensive is they outlaw lifetime coverage limits.  You go bankrupt with insurance because in the fine print there are lifetime limits to coverage per diagnosis or per person.  If the insurance company finds out that you have a diagnosis guaranteed to exceeed the limit, first they probably try to rescind your policy because you failed to mention your hangnails when you enrolled; and if that doesn't work, they just forget about you.  They do nothing to defend you against the hospitals; they just pay whatever bill until you hit the limit, and cancel you.  Rapacious American hospitals can burn through your maximum in less than six months, so even though you think you have catastrophic insurance, you actually got nothin.  A catastrophic accident or diagnosis will bankrupt you anyhow.  It's actually cheaper to live outside the USA, in a country where the cash prices for healthcare are not rapacious, and have no insurance at all.

As the author himself noted, the middle class was being picked off in large numbers by medical bankruptcy prior to Obamacare.  The real middle class killer is the greedbags US health system that is designed to take all your money.  Though Obamacare itself is an obvious K Street-driven disaster, I had hoped it would at least blow up the existing system.  Now it appears that it will blow up on the launchpad.

But please don't be deluded.  Here is the before and after:

Before:  you have a great deal on catastrophic insurance from the American Eagle Family Insruance Co. of Scamwater Florida, and you can go to Expensive Children's hospital for cancer coverage for four months before hitting your lifetime limit, and then you can't go there anymore because you can't pay anymore.

After:  you have an expensive Obamacare-compliant policy with no lifetime limit, so a cancer diagnosis will not bankrupt you.  Whatever tin-plated hospital is in your network will take care of you all the way.  But Expensive Children's Hospital is no longer in your network.

Tue, 11/19/2013 - 07:03 | 4168860 Truthseeker2
Truthseeker2's picture

"The confluence of so many negative co-factors and highly consequential outcomes associated with the implementation of Obamacare has the potential of transforming the USA into an Obamanation — one that is thoroughly broke, busted and disgusted.  This observation is not meant in any way to be satirical or humorous.  The more one looks at the far-reaching social costs and economically destructive aspects of the ACA, the more it becomes apparent that it MUST be repealed!"

 

http://stateofthenation2012.com/?p=2442

.

Tue, 11/19/2013 - 07:40 | 4168892 GetZeeGold
GetZeeGold's picture

 

 

All we are saying is......give marxism a chance.

 

Normally this would be easier.....but apparently killing 30 million people is off the list of options this time.

Tue, 11/19/2013 - 10:30 | 4169326 BooMushroom
BooMushroom's picture

...for now.

Tue, 11/19/2013 - 09:50 | 4169143 HardAssets
HardAssets's picture

It begins with the whole nature of the Rockefeller designed medical system focused on "drug 'em & cut 'em".That pharma & surgery based system can work well if someone is in a car accident and needs emergency care, but in general it doesn't promote health - but actually kills a quarter million people each year.

All the rest of it, including the newest version with o'care' is about the American fascist model. Low lifes in government & big insider corporations colluding to screw over the public.  The insurance industry wrote the o 'care' rip off. The repubs have their own version of the plan for theft. The 'conservative' Heritage Foundation had their rip off model 20 years ago.  D vs R, 'lib' vs 'conservative'  is b.s. except in dumb voters and campaign volunteers pea brains.

If/when it goes to a complete government system (so those with the same mindset as the post office now dictate your health care) you can bet that insider corpoations will be given fat, juicy government contracts to do functions they used to do before. But they won't have to worry about their bottom line. That will be guaranteed.

Tue, 11/19/2013 - 11:07 | 4169484 czardas
czardas's picture

I see repeatedly that "something had to be done about our awful health care system" and yet poll after poll revealed that the vast majority of the 85% who had insurance were quite satisfied with their personal coverage and care.  This idea that Americans were marching in the street for a health care revolution is ludicrous and a fantasy of those who want to experiment on a population. 

Tue, 11/19/2013 - 11:42 | 4169619 N2OJoe
N2OJoe's picture

@LMS:

You had a mistake in your comment so i corrected it for you:

 

After:  The entire systems collapses and is replaced with "single payer" and there is no longer care available at ANY price except on the black(aka: free) market without any gov't cartel endorsement/enforcement.

Tue, 11/19/2013 - 11:36 | 4169586 GeezerGeek
GeezerGeek's picture

The good new is this: all those who fall from the middle class to lower-paid temporary jobs will be lucky to make $60K, so they will - according to the article - get the subsidy and have free healthcare. Is this great or what?

All we need is for Mr. Yellen to print all the money necessary to fund the subsidies, because I doubt actual taxes will suffice.

Tue, 11/19/2013 - 06:31 | 4168839 HardAssets
HardAssets's picture

Most Americans are ignorant dumbazzes. Too stupid to realize that 'their guy' has the same plan as 'the other guy'

 

They actually believe 'healthcare' has something to do with this new form of theft and power grab.  If the crooks were more open they'd just say "We want X of your dollars and we want to control you & this gives us more leverage on you." Theyre too evil smart for that, so wrap it in lies.   Same tactics as when they said TARP was about 'saving the economy from a global meltdown' - total horsesh*t.

And people fall for it. They get bogged down in arguments as to what length rope the executioner will use on them.

 

Tue, 11/19/2013 - 06:53 | 4168855 boogerbently
boogerbently's picture

Like they think "gun control" has to do with saving innocent lives.

Tue, 11/19/2013 - 08:40 | 4168971 HardAssets
HardAssets's picture

Or that the 'patriot act' was about something truly patriotic (like defending & upholding the US Constitution) & 'protecting us'

Its like this with everything. Lies from criminal traitors intent on destroying America

Think of the worse things for the country, and they will try to make it so

Tue, 11/19/2013 - 11:01 | 4169463 czardas
czardas's picture

The powers that wannabe are purposely confusing two separate but important issues.  The "cost" of health care has different meanings depending on your viewpoint.  For the average Joe it's the price of insurance plus co-pays.   For the DC crowd it's the actual expenses that compose what health care covers.   Most folks don't give a flip if a procedure rises in price because of insurance.

The dirty little secret of Obamacare is bursting into the open.  The insurance companies were played (well-deserved).  The vast majority of the paycheck to paycheck crowd can't afford private insurance even with 100% subsidy due to the mile-high deducibles.  Therefore they are going into Medicaid which doctors are refusing to take.  So, they have "health care" but will end up in the hospital emergency room like before.

Sen Frist (our former Senator and a heart surgeon) had a great article on CNBC yesterday that Obamacare would not lower costs.   The best way to reduce costs is advanced technology and healthy living.  Obesity, smoking, too much booze and not enough exercise cause the vast majority of our health problems - heart attacks, diabetes and cancer.  

Tue, 11/19/2013 - 11:44 | 4169623 GeezerGeek
GeezerGeek's picture

In a weird sense, Obamacare is implementing the policy that many fiscal conservatives wanted: making people pay out of their own pockets. Or, in Obamaspeak, have more skin in the game. With all the increased co-pays and deductibles, people will begin to realize that healthcare actually does cost money and it all can't be simply paid for magically by insurance providers. The whole scheme looks more and more like an unintended step in the direction of catastrophy-only health insurance. This would be good, in my opinion, were it not for all the fascist control freaks running the show from DC. That outweighs any good benefits, I'm afraid.

Tue, 11/19/2013 - 09:53 | 4169166 smokintoad
smokintoad's picture

I thought it was another of those $1 bets that Mortimer and Randolph Duke make with each other.

Tue, 11/19/2013 - 10:23 | 4169253 DC Exile
DC Exile's picture

The country really never had much of a choice. It was either Obama or those ghoulish retreads John McCain or Hillary Clinton. The fix was in and we were screwed no matter what.

Mon, 11/18/2013 - 22:27 | 4168071 RiverRoad
RiverRoad's picture

Obummer was annointed for president by Ted Kennedy in revenge for his brothers' deaths.  I'm sure he died laughing...

Mon, 11/18/2013 - 22:52 | 4168171 Freddie
Freddie's picture

Well Democrats, liberals and morons (redundant) voted for this.  Even the stinking RINOs like did not support ObamaCare. 

Mon, 11/18/2013 - 22:58 | 4168196 kridkrid
kridkrid's picture

It wouldn't matter. Our fate was sealed long ago. The Ponzi scheme that is the US eCONomy would have needed the same level of gov't spending to backfill the collapse. So had Obama not been elected? Well... it's not like we scaled back reckless military spending, despite what the naive "liberals" thought their man represented, BUT - McCain would have gone all in. They are both sociopaths. And people should remember that ACA isn't exactly a new train of thought. The Nixon administration trotted out the same program... and sociopath Romney passed the same program in Mass.

The thought that life would be better or our fate would be different if only some other man or some other party would have been elected is part scam.

Tue, 11/19/2013 - 06:54 | 4168856 HardAssets
HardAssets's picture

'socio-path' = a psychopath who orders someone else to pull the trigger for him

Its all the same.These evil individuals just use different means to kill people - - - wars based on lies, theft of peoples lifetime savings and the slow death that brings, or stealing their money and putting them into a 'medical' system that kills at least 250,000 per year and is likely to go much higher now

The outlines for what is now O 'care' were proposed by the so called 'conservative' Heritage Foundation in 1989. There also was romnoid 'care' - the model for commie O 'care'. This society is rotten to the core. The psychopaths use the institutions to impoverish and murder the people.

Now the R branch of the demorepublicraps are arguing the details of what should be completely dumped.

http://americablog.com/2013/10/original-1989-document-heritage-foundatio...

 

Mon, 11/18/2013 - 23:29 | 4168285 rivoniaboy
rivoniaboy's picture

To show those silly white South Africans how well you could be governed under black African rule.

Tue, 11/19/2013 - 01:58 | 4168643 Bananamerican
Bananamerican's picture

"can someone try to explain to me again, how did Barry the Kenyan end up the President of the United States?"

He was setup (perfectly) for the gig by W's reign of error.

Tue, 11/19/2013 - 09:07 | 4169023 Chaos_Theory
Chaos_Theory's picture

In that sense, yes, it really is Bush's fault. 

Tue, 11/19/2013 - 04:39 | 4168778 Tom_333
Tom_333's picture

Yes - hammering the lid shut. That´s what is happening right now. Question is - why does the oligarch - Democrat complex hate the middle class that much. In Orwell´s prescient tome it was the same. The middle class was heavily controlled and supervised. The free-shit brigade not so much. The Proles as they are refereed to in the book. The means to keep them in line were alcohol , pornography and lotteries (of course fake lotteries).

In a historical context the middle class have always been the breeding ground for new political ideas and time and time again they have turned political in order to reach influence. It has been a repetitive pattern since Rennessance , even earlier.

That´s why TPTB hate and loathe the middle class as much as they do. Fear.

Tue, 11/19/2013 - 11:45 | 4169631 sschu
sschu's picture

Even my middle-of-the-road-politically wife is very concerned about what is happening.  She is especially concerned about the obvious malfeasance of the Bamster.  He knows that the Feds are terrible at IT projects yet is completely unaware that the web site does not work at rollout?  He has consistently misrepresented the law and if the tables were turned there would be an army of US Government lawyers with subpoenas getting ready to shut this thing down.

At best the Bamster is guilty of malfeasance, intentional disregard for fulfilling his duties.  His actions might even be malicious, which would open up an entirely new can of worms.

sschu  

Tue, 11/19/2013 - 17:23 | 4171362 Tigerbait
Tigerbait's picture

More takers than makers.........it's all about the numbers.

Mon, 11/18/2013 - 22:19 | 4168034 sixsigma cygnus...
sixsigma cygnusatratus's picture

I'm still trying to figure out how the heck Pelosi managed to stay above the Cretaceous–Paleogene boundary.  That's just nuts.... 

Mon, 11/18/2013 - 22:26 | 4168065 ShrNfr
ShrNfr's picture

But you must admit that the taxidermist she visits does a really good job. She almost looks like she could be alive.

Tue, 11/19/2013 - 00:37 | 4168495 Kirk2NCC1701
Kirk2NCC1701's picture

Iridium injections from the K-T boundary.

Mon, 11/18/2013 - 22:20 | 4168038 SaulRosenberg
SaulRosenberg's picture

It isn't the final nail, it's just the beginning.

Mon, 11/18/2013 - 22:30 | 4168083 duo
duo's picture

Janet Yellen is the final nail.   Obamacare is the hammer that drives it in.

Tue, 11/19/2013 - 00:09 | 4168439 jeff montanye
jeff montanye's picture

by the time this collapse is over and has turned back up for real, the coffin won't even be recognizable as a coffin.

Tue, 11/19/2013 - 00:45 | 4168503 Kirk2NCC1701
Kirk2NCC1701's picture

I'm holding out for the Middle Class to be the nail in the coffin in Obamacare, or Obama-anything.

Tue, 11/19/2013 - 01:28 | 4168589 strayaway
strayaway's picture

Amnesty might be the final nail. Flooding our labor markets with cheap labor and having to pay increased social costs to sustain imported underducated and unskilled foreigners will destroy the middle class.

Tue, 11/19/2013 - 02:04 | 4168648 Bananamerican
Bananamerican's picture

this is not stressed nearly enough...

so many fracture points.....

amerika, so hollow, so fast

The man who does not see the hand of the devil in all this is blind, sir...

Blind.

Tue, 11/19/2013 - 10:43 | 4169394 czardas
czardas's picture

I think this will become less and less of an issue as automation goes into high gear and the pace of technological advance accelerates. The only jobs will be those that use the mind.  All the factory workers, ticket takers, clerks, truck drivers and freight handlers will be out of work and headed to the permanent nanny state side of the ledger where they will trade food stamps, basic health care and entertainment 24/7 for a job. 

Tue, 11/19/2013 - 01:30 | 4168592 buyingsterling
buyingsterling's picture

thumbs up for optimism

Mon, 11/18/2013 - 22:23 | 4168052 0b1knob
0b1knob's picture

Americans elected and reelected Choomboy.   Shut up and eat you peas chumps.

Mon, 11/18/2013 - 22:25 | 4168059 surf0766
surf0766's picture

Of course. It was designed that way. The global 2 class society is almost complete. marxist paradise.

Tue, 11/19/2013 - 08:48 | 4168988 HardAssets
HardAssets's picture

neo-feudal paradise with a small group of 'royalty' and a mass of serfs

Marx was supported to churn out b.s. to the morons. 'Workers paradise' - that line of bull pulled in a lot of fools.

Tue, 11/19/2013 - 11:50 | 4169661 GeezerGeek
GeezerGeek's picture

Almost as tantalizing as 72 virgins.

Mon, 11/18/2013 - 22:28 | 4168073 are we there yet
are we there yet's picture

The moral is to make every kind of vague law a politician can and enforce the ones that he wants with the interpretation that he wants. Sounds like a dictator that can do what ever he wants.

Mon, 11/18/2013 - 22:28 | 4168074 aVileRat
aVileRat's picture

The premiums are projected to spike unemployment by at least 4 million jobs in 2014. Most layoffs in white collar or "retirements" happen after the 30-day resignation letter is given pre-XMAS. So, I suspect this need to keep the tapering throttle open is this explanation that any first year graduate model in labour economics could easily see rolling down the shit-pipe.

This is going to rubberband into the FIRE economy when all the rosy projections for policy sales are divided by 2, and family plan margins go back to 2003. The next domino to fall will be those luxury drugs that are pumping  up the Biotech multiples. How many JoeQ publics are going to be affording Liptor on their 4,000/month salary when insurance is 800/month, rent is 1,900/month and your student loan is 900/month. Now lets pick a 'fresher' drug like Eliquis. Market is projecting this heart drug is going to come out with slick 35% gross margins due to the rise in heart disease. That 35% is based on assuming 5 million in first year drug sales. Take a wild guess how 99% of those fat african americans (because that is who the drug's primary consumers are targeted towards) will be able to afford this new pancrea when the 60% blue shield coverage goes zilch ?

Good times ahead.

 

 

 

Mon, 11/18/2013 - 23:58 | 4168393 Freddie
Freddie's picture

This is all so sick. My only hope is the people who voted for O and the Democrats are affected and harmed the most - followed by idiots who watch TV and Hollywood's shit. 

TV and Hollywood support O and ObamaCare 100%.

Tue, 11/19/2013 - 00:51 | 4168528 Hopeless for Change
Hopeless for Change's picture

Agree 100%.  I hope and pray that these stupid fucking middle class white suburban liberals get smashed by Obamacare.  They still won't realize they've been played for fools.  Useful Idiots, all.

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