Today is the day that the monstrosity perversely named, "The Affordable Care Act" goes into effect. This job killing abomination is single-handedly decimating the very middle class that it was deceitfully claimed by the Dissembler in Chief to benefit the most.
I have been explaining to friends and acquaintances the deleterious impact of this horrible law but found an excellent article out on the web at one of the websites that I frequent which encapsulates perfectly the carnage that this albatross around the neck of the US economy is inflicting.
Read it and weep....when you do, keep in mind that these are real people, our fellow citizens and neighbors, whose lives are being wrecked by this perversion of liberty.
Get ready to read/hear even more of these horror stories. If you wonder why I keep saying over and over again that unless the US undergoes STRUCTURAL REFORMS, the economy is not going to improve enough to allow the Fed to begin scaling back its bond buying program. you will find your answer here.
In spite of the Quantitative Easing policy which one would expect to be conducive to inflation, the US job market is comatose and as long as wages are stagnant and the jobs situation remains as abysmal as the following article suggests, the fuel for inflationary pressures ( an increase in the Velocity of Money) is not going to be present. That will keep a lid on the price of gold.
Here are the first two paragraphs of the article followed by the link. I strongly urge my readers to check it out. It is eye opening. I will warn you that it is also extremely depressing because none of this had to be; none of it. This is an example of how foolish and ignorant government policy destroys an economy but more precisely, wrecks human lives.
In a few days, Obamacare’s October 1 launch date finally will have arrived. Ever since its passage, supporters of the law have made countless attempts to convince the American people of its viability, dismissing predictions of lost jobs, decreased hours, and rising costs, among others.
Yet from major corporations to local mom-and-pop shops, from entire states to tiny school districts, a wide range of companies and institutions have seen Obamacare’s negative impact on their workers, budgets, and production. Here are 100 examples of how Obamacare is falling short of what was promised.
http://www.nationalreview.com/article/359861/100-unintended-consequences-obamacare-andrew-Johnson
damn straights, you are right on Dan
ReplyDeleteThe market loves ObamaCare.
ReplyDeleteRetail indexes are surging to world record highs, led by names such as Harley-Davidson and Walgreens.
We are on the cusp of a mega-boom, thanks to endless fiat printing combined with collapsing commodity prices and 45-year low interest rates.
Mark;
Deletethe "market" loves quantitative easing, cheap money and corporate profits. It does not love Obamacare. What it does love is the fact that corporations are slashing expenses in order to comply with Obamacare and those expenses are primarily in the form of full time jobs of 40 + hours per week. Wall Street is having a field day at the expense of Main Street.
At some point however, and I am unsure when that will be, the Fed will be unable to prop up even the US stock market on its own without structural reforms to the underlying economy.
What we are currently experiencing is paper asset inflation in the equity markets in a world in which prices are falling and wages are either falling or are stagnant. That is NOT a long term prescription for health.
I simply have no idea when reality will catch up to these things however. For now, the party continues until it doesn't.
And what a party it is !
DeleteThe FED just flexed their muscles for all to see. Today they no doubt pumped billions into the NYSE to prevent any kind of corrective action.
Looks like Armstrong's sub $1000.00 gold and 20k + DOW will be dead on accurate.
You would have to be insane to be long gold and short DOW right now.
I hope the govt shuts down. People embrace the nanny state. They love to be told waht to do. Just like the Israelite slaves in the wilderness. they wanted to go back to Egypt and be slaves again. I want catastrophe. Gold will drop to 1,000. I haven't had health insurance in 12 years. I am not a moral hazard, and empower myself to understand health, nutrition, and wealth. I am going to pay the income tax penalty. health is 80% nutrition, though I should get catastrophic medical, in case I get into a major accident.
ReplyDeleteAs for Obamacare, I don't think as many people as the NWO-controlled media claims. i think a lot more people than most think do not want this. The talking head shills are forbidden from criticizing it.