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And The Biggest "Contributor" To Q3 GDP Was...
If you said "the Supreme Court-approved tax that is Obamacare", then give yourself a pat on the back.
As we broke down earlier, Q1 GDP rose at a disappointing 1.5% CAGR, rising to $16.394 trillion in chained dollars, an increase of $61 billion, and a modest annual increase of just 2% compared to Q3 2014, the lowest Y/Y increase since the 1.7% recorded in Q1 2014.
Yet with most components disappointing, growth had to come from somewhere. So where did it come from?
The answer: of the $60.6 billion annualized increase, the biggest contributor came from one specific spending category which accounted for $18.2 billion of this, or 30% of the total.
That "category" is highlighted in the chart below.
And so, for the 5th consecutive quarter, Obamacare once again comes to the "rescue" of the US economy.
Now if only all other taxes could be added as GDP growth line items, then the US economy would be well and truly flying.
Finally, to those asking how the collapsing U.S. middle class spent a whopping $10.4 billion on Recreational goods and vehicles in the 3rd quarter, please don't ask * we have no idea.
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You better look at what you get now, as folks who choose Cigna get a new pharmacy benefit manager called United Heatlhcare since they bought Catamarn, the Cigna PBM who signed a 10 year agreement. United bought Catamaran, so you get a two fer now and can contribute to not one but two S&P insurers just by purchasing a Cigna health insurance policy. Sounds like anti trust to me but maybe why Cigna wants to merge w/Anthem as they could move everyone over to an Anthem policy to get out of the United Healthcare stronghold with drugs. By the way this acquisition now makes Optum RX the biggest PBM in the US as Catamaran's algos and models will be dovetailed right in to make it one.
http://ducknetweb.blogspot.com/2015/10/if-you-are-insured-by-cigna-guess-what.html
Check out the link above and a few other tidbits I tossed in, like the CEO of United now on the board of Cargill, the evil twin brother of Monsanto, doing the same thing. Evil likes evil in this sad Obamacare biz. It will come out sooner or later as well how Hillary used her private server to communicate with United Healthcare too. Go look up Lois Quam, one of her buddies that she hired from United. Lois is the one who put together the AARP deal for United as well as doing the acquisition of Pacificare HMO in California. My former CMS informers gave a bit of a hot tip there:)
The VAST MAJORITY of drugs being consumed by Americans ARE NOT NEEDED, ARE LARGELY INEFFECTIVE or have a PLACEBO EFFECT, or they have side effects that render them useless to HARMFUL.
Doctors are now salesmen for the pharma industry, which by extension enables the biobubbletech sector that is increasingly indirectly funded by gov't grants, tax breaks, etc., resulting in MASSIVE FRAUD, WASTE, AND PROHIBITIVE COSTS.
Again, get bleeping mad!!!
We don't have health care insurance. And we won't. We'll eventually pay the penalty (unless we can figure out a way to not do so) because it will be cheaper than buying this overpriced unneeded health care insurance. We maintain a very healthy lifestyle (we put our money into organic food, supplements and detoxification materials instead of throwing it away on Obamacare). If we ever run into a serious health issue we'll go to Mexico and pay cash at an excellent functional/integrative medicine facility (such as Sanoviv, where we went some years back for diagnostics and treatments on a preventative basis). There are about 10 major facilities like this in Mexico right over the California/Mexico border. And, they offer the full array of medicine: functional, integrative, wholistic, alternative, Chinese, Ayuervedic, conventional, etc. Whatever is the best and least invasive protocol for your specific situation. And, you get access to all the effective treatments, medicines and supplements that are banned in the USA due to the Fascist oppressive monopoly of Big Pharma-AMA-FDA. Fuck Obama, ObamaCare and the US government.
RVs are great. That cohort or sub-culture will continue to grow because of the low cost of living and all the advantages of being mobile and fabian. You can usually make more money in business if you are mobile instead of stuck in one geographical position. Plus you can easily attend key workshops, seminars, conventions, etc. that are relevant to your business.
Obamacare was designed to fail.
It is alarmingly simple - add tens of millions of people who will cost the system a lot while doing nothing at all to control costs. Expand Medicare benefits to people already taking out 2-3x what they put in. Increase regulations, red tape, and STILL refuse to let insurers sell across state lines.
With no cost controls, and the healthy and young paying for the poor, the old, and the sick - on top of what they are ALREADY paying... you force out smaller insurers, reduce quality of care, and spend all your time treating mostly preventable illness at very high cost instead of focusing on prevention.
More government power and taxes is where this leads - by design.
Don't expect them to reform healthcare at this rate.
Force is the new economy. Expect more of the same. Its the only way to keep all the monopolies going.