• Category Archives Socialism
  • It’s Official, Obamacare Collapse Is Trump’s Fault – Just Ask The WA Insurance Commissioner

    Last night, Washington’s Insurance Commissioner Mike Kreidler sent out a press release noting that two counties in his state, Klickitat and Grays Harbor, would be left with no health insurance options in 2018. Per the press release, the ~3,330 people in those counties currently signed up on the exchange would be able to buy insurance through the state’s high-risk pool but they would lose access to taxpayer-funded subsidies.

    This post was published at Zero Hedge on Jun 9, 2017.


  • NAMES OF MORE THAN 16,000 CONCEALED WEAPONS PERMIT HOLDERS IN FLORIDA EXPOSED IN HACK

    Florida Department of Agriculture Commissioner Adam Putnam announced on Monday that hackers may have obtained the names of concealed weapon licensees in a data breach that ‘appears to have originated from overseas’ (must be those Russians again!).
    The breach may have revealed the social security numbers of 469 customers, and another 16,190 may have had their names but ‘no other individually identifying information’ was compromised.

    This post was published at The Daily Sheeple on MAY 24, 2017.


  • Another Fraudulent Jobs Report

    ‘Willing suspension of disbelief’ is defined as a willingness to suspend one’s critical faculties and believe the unbelievable; sacrifice of realism and logic for the sake of enjoyment. First off, I want to state upfront that there’s nothing enjoyable about the monthly non-farm payroll report unless you enjoy being subjected to brain damage.
    Each month the Government asks us to suspend our critical faculties and accept the headline-reported number of new jobs created by the economy as well as the unemployment rate. Once again the Government did not disappoint, as it headline-flashed the alleged creation of 211,000 jobs and an unemployment rate of 4.4%.
    Unfortunately, for the mindless masses who consume fast-food style news from mainstream news sources, once the headline numbers are absorbed and the ‘experts’ reaffirm them with their idiotic psycho-babble, the numbers as reported miraculously become The Numbers.
    To say that the latest non-farm payroll report stretches the ability to suspend one’s disbelief is an understatement. The Government wants us to believe that 211,000 new jobs were created in April – ‘seasonally adjusted,’ of course. A cursory glance reveals that 162,000 working age civilians decided to just leave the labor force, which explains the alleged decline in the unemployment rate. Either those folks who walked away were bequeathed with Social Security disability, took out a big student loan and enrolled for an online degree program at one of the many online universities or, most likely, their jobless benefits expired and they simply gave up looking for a job that pays more than minimum wage (Note: the latter explanation is supported by the recent spike up in auto loan, credit card and mortgage delinquency rates).

    This post was published at Investment Research Dynamics on May 5, 2017.


  • Obamacare Finally Repealed

    The American Health Care Act (HR 1628) finally passed by the House yesterday reducing taxes on the American people by over $1 trillion. The bill abolishes the most abusive taxes taxes imposed by Obama and the Democrat party back in 2010 known as Obamacare. The Democrats helped the insurance companies and burdened the youth trying to force them to pay for insurance they did not need to get insurance companies to cover people they would not.
    Obama as a presidential candidate back in 2008, had promised repeatedly that he would NOT raise any tax on any American earning less than $250,000 per year. That was an outright lie. As always, they claim they will only tax the rich, but it never end up that way.

    This post was published at Armstrong Economics on May 5, 2017.


  • Dow Jones News: Dow Drops as House Republicans Pass Obamacare Replacement Bill

    This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
    In Dow Jones news today, the Dow dropped six points as congressional Republicans voted in favor of repealing and replacing parts of the Affordable Care Act.
    Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:
    Index Closing Point Change Percentage Change Dow Jones 20,951.47 -6.43 -0.03% S&P 500 2,389.52 1.39 0.06% Nasdaq 6,075.34 2.79 0.05% Now here’s a closer look at today’s most important market events and stocks, plus Friday’s economic calendar.

    This post was published at Wall Street Examiner by Garrett Baldwin ‘ May 4, 2017.


  • The Greatest Ponzi Scheme in History

    This is a syndicated repost courtesy of The Daily Reckoning. To view original, click here. Reposted with permission.
    The Chinese credit bubble is a ticking time bomb. That bubble is primed to explode with or without anything Trump does. When it happens and how it happens will have profound implications for your portfolio.
    Bernie Madoff may have set a record for the biggest Ponzi scheme in U. S. history (if you don’t count Social Security), but China has set the world record.
    Madoff’s scam was either a $65 billion Ponzi if you count fake profits, or a $20 billion Ponzi if you just count original investor money that he stole. Either way, it was a U. S. record.
    Now China is about to set the world record with a $9 trillion Ponzi. Here’s how it works…

    This post was published at Wall Street Examiner by James Rickards ‘ May 4, 2017.


  • The New GOP Healthcare Bill Still Contains a Costly Oversight – but It’ll Get Passed

    This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
    The highly anticipated new ‘RyanCare’ bill has been drafted; the House will vote on it today, with supporters hoping to repeal and replace Obamacare.
    But it’s got a major problem.
    In order to pass, this GOP healthcare bill needs to win over the moderate Republicans who were dissatisfied with the first version’s lack of coverage for Americans with pre-existing conditions.
    It does take steps to do that – but still falls massively short.

    This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ May 4, 2017.


  • GOLD & SILVER SMASHED BY CARTEL

    The following video was published by SilverDoctors on May 3, 2017
    The gold cartel smashes gold and silver lower again. Trump says he would be open to meeting with North Korean dictator Kim Jong-un. Obamacare repeal may finally pass the House. Trump talks with Putin.
    The relentless smash of gold and silver prices continued Wednesday.
    Gold was down another $10 to $1245, finally breaking below significant support at $1250. Silver prices are down another 30 cents to $16.55, now a full $2 below recent highs near $18.60.
    The all time record open interest in silver and massive commercial short positions in the COT report was indicating a cartel slam was coming, and come it has. Adding to the downside fuel is the Fed. The Fed is apparently preparing to unleash another rate hike in June, regardless of economic conditions. The metals have stabilized in the wake of the FOMC statement’s 2pm Eastern Time release, and we are looking for a bottom in both metals over the next 48 hours as an excellent entry point opportunity.


  • APRIL 28/SURPRISINGLY SILVER INVENTORY AT THE SLV REMAINS CONSTANT FOR THE PAST TWO DAYS DESPITE SILVER’S FALL/GOLD WITHSTANDS CARTEL ATTACK AND RISES BY $2.40/SILVER FALLS BY 11 CENTS/ SILVER OI…

    Gold: $1266.10 UP 2.40
    Silver: $17.21 DOWN 11 cents
    Closing access prices:
    Gold $1268.70
    silver: $17.21!!!
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1275.00 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: 1265.60
    PREMIUM FIRST FIX: $9.60
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

    This post was published at Harvey Organ Blog on April 28, 2017.


  • Will Trump’s Tax Plan Pass: Here Is The Complete Probability Matrix

    With global equity markets enjoying the biggest weekly inflow since the election on what BofA described was rising expectations of a Trump tax deal, the obvious question is “what is the probability of the Trump tax deal getting done.” And, as it turns out, that is also the wrong question, because as Morgan Stanley shows, the outcome from Trump’s tax proposal is not binary. In fact, there are nine distinct possible results, depending on how the various binomial outcomes pan out.
    But first, here is a snapshot of how Morgan Stanley’s Michael Zezas sees the infamous one-pager (which was fully explained by Goldman Sachs earlier in the week).
    A starting point, but we don’t think the timing of tax reform is advanced: The release is a signal that the White House is taking more of a leadership role on tax than they did on healthcare. Yet that fact alone doesn’t change the barriers to action and likelihood of delays (1H18 is our estimated timing), in our view, for the following reasons: Republicans still pursuing elusive healthcare deal – Until Republicans ‘cut bait’ on repealing & replacing Obamacare, they can’t practically start the detailed work of advancing tax reform through the budget reconciliation process. While we see little practical reason for Republicans to remain focused on healthcare, the recently proposed MacArthur amendment signals renewed dedication to the effort. As such, our concern is that they become bogged down in passing amendments to AHCA that satisfy the concerns of moderates, conservatives, and Senate reconciliation rules.

    This post was published at Zero Hedge on Apr 28, 2017.


  • Trump 100, Margin Debt Stock Bubble and Gold

    – Stocks and the dollar look vulnerable due to Trump’s policies, America’s civil war politics and economic vulnerability
    – Stock bubble on margin debt – ‘Powerful time bomb’
    – ‘There is no alternative’ to stock bubble? Gold?
    – Bank Of America sets a date for the market’s ‘Great Fall’
    – Even uber bull Cramer compares 2000 dotcom bubble bust to today
    – Gold to stay elevated on safe haven demand – Economist
    – Gold’s tempered climb makes gains more ‘sustainable’ Trump’s first 100 days in office have been a whirlwind but so far the ‘Trump Trade’ of being long stocks has worked for investors and speculators. Will markets continue to be so forgiving of the many foreign and domestic policy failures including the failure to repeal ‘Obamacare’?
    It is possible but we think it unlikely as many stock and bond markets, particularly U. S. markets, are now priced for close to perfection – in a far from perfect, massively indebted, volatile financial world.

    This post was published at Gold Core on April 27, 2017.


  • Watch Live: Paul Ryan And House GOP Address Spending Bill, Obamacare, Trump Tax Reform

    With Steven Mnuchin earlier presenting President Trump’s forthcoming tax plan as the “biggest” tax cut in history, many – especially JPMorgan – doubt it will be able to pass Congress. So, to get the Congressional opinion on the matter, here is House Speaker Paul Ryan and House Republicans addressing not only today’s main event: Trump’s tax plan, but also the proposed spending bill which, should it not pass, will lead to a closing of Congress.

    This post was published at Zero Hedge on Apr 26, 2017.


  • Student Loan Debt Now Big Problem for Baby Boomers

    When we talk about the student loan crisis, we tend to focus on millennials. After all, they are the ones impacted most directly by the ever-increasing burden of student loan payments. Student loan debt is one of the biggest factors driving a growing trend of millennials struggling to transition into adulthood. But increasingly, student loan debt is also impacting baby boomers and threatening their retirement.
    The Wall Street Journal recently reported how easy it is for parents to get college loans to help pay for their kids’ education; however, repaying them is another story.
    ‘Millions of US parents have taken out loans from the government to help their children pay for college. Now a crushing bill is coming due. Hundreds of thousands have tumbled into delinquency and default. In the process, many have delayed retirement, put off health expenses and lost portions of Social Security checks and tax refunds to their lender, the federal government.’
    This is yet another story of unintended consequences created by the government’s good intentions.

    This post was published at Schiffgold on APRIL 25, 2017.


  • Under Socialized Medicine, The State Owns You

    As Americans were spending time scrambling to give the IRS their annual protection fee, the court system in the United Kingdom, at the behest of National Health Service bureaucrats, abducted and murdered an 8-month-old baby. This brazen abduction was done in broad daylight with full press coverage and the UK government and courts claimed loudly this was humane and the right thing to do.
    This might sound like a severe bout of hyperbole, but that is exactly what happened. On April 11, 2017, the courts in the UK ruled that Charlie Gard, against the wishes of his parents, must be immediately removed from life support and left to die. Unlike cases in the US where it is usually the family that is arguing for or against extending hope that their loved ones can be rescued, the only people arguing against continued efforts were government officials and some third party public onlookers. What makes the Charlie Gard case so disturbing is that this is a case where no family member made any argument to remove the child from life support. The government simply overruled them and took their child. As an 8 month old, Charlie was in no position to formulate a living will or even have discussions with relatives as to how he wished to be treated with a potentially fatal illness.
    Charlie was born with a rare genetic condition called mitochondrial depletion syndrome rrm2b. This genetic disorder comes with a host of issues ranging from muscle deterioration, seizures and, in Charlie’s case, left him blind and deaf. The life expectancy of this disease is between 3 months and 12 years from the onset of symptoms. There are no current proven treatments beyond clinical studies.

    This post was published at Ludwig von Mises Institute on April 25, 2017.


  • Rich People Are Living Longer And It’s Going To Cost Taxpayers ‘Bigly’

    Social Security, like America’s trillions of dollars of underfunded public and private pensions, is nothing more than a ponzi scheme that will eventually fail. Any system that relies on capital drawdowns to fund benefit obligations while the number of beneficiaries continues to soar is, by definition, a rather obvious ponzi. That said, it’s always easier to ‘kick the can down the road’ and hope for the best than to preemptively address the real problems that face retirees…after all, old people love to vote and taking away their retirement money is not a good way to earn their support.
    Ironically, it’s not just the lower tiers of the socio-economic spectrum that will bankrupt social security. As a new study entitled “How the Growing Gap in Life Expectancy May Affect Retirement Benefits and Reforms” points out, rich people are living a lot longer than they used to and it’s going to take a massive toll on government entitlement programs over the next couple of decades.
    Per the chart below from Bloomberg, a “rich” 50-year-old in 2010 can expect to live 12.7 years longer than someone in the lowest income bracket.

    This post was published at Zero Hedge on Apr 24, 2017.


  • APRIL 24/FRENCH MACRON VICTORY SENDS GLOBAL STOCKS SOARING/GOLD HIT ON OPTIONS EXPIRY BUT NOT SILVER/HUGE BATTLE IN THE USA BETWEEN TRUMP AND THE DEMOCRATS: TRUMP WANTS HIS WALL/DEMOCRATS WANTS H…

    Gold: $1275.80 DOWN 11.60
    Silver: $17.85 UP 2 cents
    Closing access prices:
    Gold $1275.60
    silver: $17.93!!!
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1285.37 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: 1273.40
    PREMIUM FIRST FIX: $11.97
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1288.56
    NY GOLD PRICE AT THE EXACT SAME TIME: 1271,30
    Premium of Shanghai 2nd fix/NY:$17.26
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1271.80
    NY PRICING AT THE EXACT SAME TIME: $1271.50
    LONDON SECOND GOLD FIX 10 AM: $1269.40
    NY PRICING AT THE EXACT SAME TIME. 1269.70
    For comex gold:
    APRIL/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 10 NOTICE(S) FOR 1000 OZ.
    TOTAL NOTICES SO FAR: 728 FOR 72800 OZ (2.2643 TONNES)
    For silver:
    For silver: APRIL
    14 NOTICES FILED TODAY FOR 70,000 OZ/
    Total number of notices filed so far this month: 906 for 4,530,000 oz

    This post was published at Harvey Organ Blog on April 24, 2017.


  • Markets Stall as Trump Fails to Deliver – Part Two

    In part one of ‘Markets Stall as Trump Fails to Deliver,’ the run-up in markets post election was discussed.
    No meaningful economic policy was changed. Expectations of what Trump promised drove markets. That is not unusual; expectations do drive valuations. But expectations drive markets both ways.
    Donald Trump’s two biggest promises, the repeal of Obamacare and major changes in the tax code, were to unleash economic growth. The positive market reaction to his election likely reflected this. As the realities of doing either sunk in, expectations began to dampen. The chart below suggests that March 1 was when the honeymoon ended and expectations began to be lowered.

    This post was published at Economic Noise on April 21, 2017.


  • Trump Administration Begins Quiet Preparations For Government Shutdown

    Even as Donald Trump is desperate to show to the US population, and especially his voter base, some actual achievement before his first 100 days run out next weekend, prompting him to tell AP that he will unveil a “tremendous” tax ut plan next week (recall he did the same in February), the Trump administration is quietly preparing for the possibility of a government shutdown, even though the president and his staff believe one is unlikely to occur.
    As a reminder, the government will shut down midnight on April 28 if Congress cannot agree on a spending bill. As reported over the past week, the measure hit various snags over Trump’s demands to include funding for Trump’s border wall and a debate over money for an ObamaCare insurer subsidy program, both programs which virtually assure the spending bill will not pass.
    As a result, the Office of Management and Budget (OMB) has begun to coordinate with government agencies to plan for a possible shutdown. ‘While we do not expect a lapse, prudence and common sense require routine assessments will be made,’ OMB Director Mick Mulvaney said in a statement.
    The office set up a phone call to go over the agencies’ shutdown plans, which could include steps such as furloughs for federal workers. The OMB said the plans were reviewed ahead of a possible shutdown last December and are unlikely to be revised.
    As Compass Point analyst Isaac Boltansky, notes, “wall funding is just one of many policy potholes that could disrupt negotiations, including ACA cost-sharing subsidies, coal miner benefits, sanctuary cities.”

    This post was published at Zero Hedge on Apr 21, 2017.


  • Is Trump About To Flip Again: Ryan Says “TTIP Good For Global Order”

    From Obamacare to NATO, and from Ex-Im Bank to Chinese currency manipulators, President Trump has shown he is comfortable changing his mind ‘bigly’. Today’s exuberant support for “TTIP as good for global order,” from Speaker Ryan, following VP Pence’s meetings in Japan, raises questions about whether Trump’s executive order withdrawing from the Trans-Pacific Partnership (TPP) free trade agreement is the next big flip-flop.
    ***
    During his presidential campaign, Trump often criticized the TPP agreement and called it a “terrible deal,” which is harmful for US workers. On January 23, Donald Trump signed an executive order withdrawing the United States from the Trans-Pacific Partnership (TPP) free trade agreement and promised to renegotiate the North American Free Trade Agreement (NAFTA). The Trump administration was expected to at least delay talks on the TTIP deal, according to media reports.

    This post was published at Zero Hedge on Apr 19, 2017.


  • The Tax-Man Cometh

    With April 15 falling on Easter weekend this year, tax day in the United States was moved to April 18. Although Americans got a few days reprieve, the tax-man inevitably made his annual appearance, and we are all poorer for it.
    Even my non-political friends were posting ‘taxation is theft’ memes on social media yesterday. This indicates just how deeply most Americans loath the IRS. Why shouldn’t they? In an article posted on the Mises Wire, Judge Andrew Napolitano give a succinct summary of just how deeply the tax-man bites:
    ‘With a tax code that exceeds 72,000 pages in length and consumes more than six billion person hours per year to determine taxpayers’ taxable income, with an IRS that has become a feared law unto itself, and with a government that continues to extract more wealth from every taxpaying American every year, is it any wonder that April 15th is a day of dread in America? Social Security taxes and income taxes have dogged us all since their institution during the last century, and few politicians have been willing to address these ploys for what they are: theft.’
    To add insult to injury, Americans had to dig a little deeper into their own pockets to facilitate IRS takings this year.

    This post was published at Schiffgold on APRIL 19, 2017.