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Member Of Congress Warns Of A 1,000 Point Stock Market Crash If Obamacare Lite Does Not Pass

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Obamacare LiteAre we going to see a dramatic stock market plunge if the effort to get “Obamacare Lite” through the U.S. House of Representatives ultimately fails?  On Thursday, a vote on the Republican healthcare bill was postponed once it became clear that there would not be enough votes for it to pass.  House Republican leaders are still optimistic that there will still be a vote on Friday, but that is far from certain.  Many strong conservatives in the House are balking at supporting this bill because while it does eliminate a few of the most troublesome provisions of Obamacare, it keeps many of the elements of Obama’s signature healthcare law that have proven to be popular with the American people.  In other words, this bill is much more about “tweaking” Obamacare than “repealing” it.

This is the first major legislative test for President Trump and House Speaker Paul Ryan, and so far they are failing.  House Republican leaders have gone into panic mode, because a “no” vote could have some very serious implications outside of Washington.  In fact, one member of Congress is warning that if this bill does not pass that we could see the Dow drop 1,000 points in a single day

It happened in real life on Sept. 29, 2008, when the House first voted on a Wall Street bailout intended to stem the financial crisis. In a swirl of uncertainty, Republican members stampeded to “no,” defeated the measure and watched the Dow tumble by more than 700 points. The same thing could happen on the GOP health bill, a veteran member told CNBC on Thursday — only bigger.

“If this goes down, we could take a 1,000-point market hit,” the member said. To be sure, traders and investors tell CNBC the market likely will go lower if there is no compromise Thursday, but the decline won’t likely come near a 1,000-point drop. That would represent a nearly 5 percent drop in the Dow, a bit less than the 7 percent decline when the index fell 777 points in September 2008.

And even if this bill does pass, we are probably headed for some sort of significant downturn anyway.  Sven Henrich has just told CNBC that he believes that “the market could see a 5 to 10 percent drop in the near term”…

The market has enjoyed a stellar bull run, but a correction is likely looming, according to Sven Henrich, also known as the “Northman Trader.”

A very long-term analysis of the S&P 500, in conjunction with a look at the CBOE Volatility Index, leads Henrich to believe the market could see a 5 to 10 percent drop in the near term.

But fixing our failing healthcare system is far more important than trying to prop up the financial markets, and so the strong conservatives in the House are quite right to stand by their principles.

Simply “tweaking” Obamacare is not going to fix anything, and it is extremely disappointing that President Trump and Paul Ryan are advocating such an approach.

Thankfully, there are a number of strong conservatives in Congress that are willing to take a stand for what is right even if it means standing up against their own party.  One of those principled conservatives is Senator Rand Paul, and he says that right now there are at least 35 Republican “no” votes in the House, and that would be enough to kill the bill…

I think there’s easily 35 no votes right now so unless something happens in the next 24 hours, I would predict they pull the bill and start over. I think if conservatives stick together, they will have earned a seat at the table where real negotiation to make this bill an acceptable bill will happen. But it’s interesting what conservatives are doing to change the debate. We went from keeping the Obamacare taxes for a year—hundreds of billions of dollars—but they’re coming towards us because we’re standing firm. So we have to stick together, and if we do stick together there will be a real negotiation on this. The main goal I have is not to pass something that does not fix the situation. If a year from now, insurance rates and premiums are still going through the roof and it’s now a Republican plan it will be a disservice to the president and all of us if we pass something that doesn’t work.

If this bill is ultimately defeated, I have an idea that might work.

Why don’t we get the government out of the healthcare business entirely?

Once upon a time when we actually let the free market determine the allocation of healthcare resources, we had the best healthcare system in the entire world.

But after decades of experimenting with socialist principles and adding mountains of rules, regulations and red tape to the system, we have a giant mess on our hands.

Either we need to go back to a true free market system, or we might as well go ahead and just socialize the entire thing.

Right now, hard working families have to pay for their own healthcare and also pay for the socialized healthcare that more than 125 million other Americans are receiving.

Yes, when you add up all of the Americans that are on Medicaid, CHIP, Medicare and other government programs, it comes to more than 125 million people.

So a lot of hard working families are scared to ever go to the hospital because their insurance deductibles are so high, and yet their taxes go to pay for all of the free healthcare that people on government assistance are receiving.

If the government is going to pay for the healthcare for nearly half the country, why should the rest of us have to pay for ours?

What we have now is such a ridiculous system, and what President Trump and Paul Ryan are proposing is not “free market” in any way, shape or form.

So I say let this horrible bill fail even if it means that financial markets will freak out for a little while.

Hopefully what transpires over the coming days will cause Republican leadership to go back to the drawing board, and a clean repeal of Obamacare would be a really good place to start.

 
  • Carl

    Nonsense. Just more fear mongering. Besides what goes down will go back up. Now take your obamacare lite and run home like good little boys and girls.

    • socalbeachdude

      Once stocks crash this time around, they won’t be going up for a very long time and many will go out of business entirely with 100% wipeouts for their shareholders and huge losses for their bond holders.

      • Fortune Seeker

        Time frame + or – a year?

        • socalbeachdude

          Stocks will probably decline for a period of about 25 years like they did between 1929 and 1954 so you should be good to go back into the markets around 2042.

  • JC Teecher

    Good article, and right on target.

    I basically agree with what Michael is saying. If we cannot have a nationwide healthcare plan that “only” covers, legal residents and immigrants “in waiting”, then we need gov out of the healthcare business entirely.

    However; there is one of Rand Paul’s ideas that makes more sense than all the paul Ryan’s ideas put together.
    Allow consumers to form groups or clubs, and purchase HC Insurance across state lines.
    There is power in consumer numbers, and we need a system that is fair, and not controlled by insurance co. lobbyists, with crooked politicians aka …Paul Ryan..etc…etc.

    I don’t see this causing a major stock market drop, or at least for long term. Too many people are optimistic about the future of America with Trump as potus, and most people that have $$ in the stock market are in for the long term. As in the length of term of potus Trump.

    When he goes, all hell will most likely break loose in this Nation, and then around the world.

    • socalbeachdude

      The huge drop would be in the massively price-gouging hospital and pharmaceutical industries which have used government spending programs on medical expenses to ROB THE PUBLIC BLIND and now there is extreme opposition to that and the public wants to see the EGREGIOUS SPENDING ON HOSPITALS AND PHARMACEUTICALS CUT WAY BACK and in many cases that spending should be cut around 80%.

      As to the stock markets in generally they are VASTLY OVERVALUED and trading in the US at PE (Price / Earnings) multiples of 24 and higher and should be trading at no more than around 12 to 15 at absolute maximum which portends about a 50% drop in the indices just to get stock prices back to normal and reasonable levels. When they correct (crash) they typically over correct and PE multiples drop to around 6 which would be about an 80% plunge from current absurdly elevated bubble levels.

  • JC Teecher

    Please Michael, do something so I can put a block on the troll CARL.

    • Carl

      But I love you teecher. I thought we were besties. Oh well. I will have to get over it.

      • JC Teecher

        Carl; the day you make amends to God, I will be the first to put my arm on your shoulder, and pray with you and for you anytime you choose.

        But; as long as you continue to be a cursing to God, you are a cursing to me. simple as that.

    • Waaaaa!!

      People like you crack me up. You can’t endure reading something you don’t like but you are going to survive a cataclysmic even that could lead to the collapse.

      Even you must realize you would not make it a day without your Triple, Venti, Half Sweet, Non-Fat, Caramel Macchiato.

      • JC Teecher

        You are so observant and charming, I think I will go puke now. people like you crack me up, and down. I can endure anything. A person that has endured cancer can endure almost anything life throws at them, but I “choose” not to. So go suck on a lollipop, and hope you never have to endure the pain.

        • FirstGarden

          Didn’t know you fought off cancer. Sorry, dude. Glad you beat it.

        • CASTIEL

          Glad you beat cancer friend, most people here didnt live enough to know what matters in life, probabily they will die without never know it…

      • JC Teecher

        We are right now prepared to live for a minimum of two years, without having to buy one more thing, or even make a trip into town. That plan even includes paying up property taxes ahead for those two years.

        Can you say the same thing, o obi wan?

    • MichaelfromTheEconomicCollapse

      You should be able to individually block users, and I try to filter out as much of the profanity and spam that I can.

      But in general I like for people to have their say as much as possible. I believe in the marketplace of ideas, and I also believe that when light and darkness are put up next to one another that the light will win every time.

      • socalbeachdude

        Thank you, Michael, and good to hear from you!

      • Cinderella Man

        Yeah but why would you let your pet trolls usurp your entire blog’s comment thread? This has become the socalbeachdude collapse blog. Its pretty bad when your long-time readers have to either block them or be forced to scroll through 50 comments from the same idiot who regutitates the same news stories that can be found on most main stream outlets. I mean come on Michael I this person makes Gary2 look like Mr Rogers

        • Guest

          Hey, whatever happened to Gary2?

          • Cinderella Man

            I haven’t seen him in years. I just remember TAX THE RICH HARD was his favorite line…he must be bitterly disappointed. I have been on this blog since 2010 took a hiatus from commenting when Michael switched to Discus. We used to have some great people that commented here Syrin El pollo de oro Mondo makes an appearance from time to time but most people have been driven away by the usurper. Its too bad a great exchange of ideas and views used to be discussed here but now it’s bogged down by an idiot egomaniac who loves to be the center of attention. He she is doing it for no other reason but to hijack the conversation and act like he’s smart. The final straw for me was when he tried to tell me how to ranch. Sorry but googling commodities dosent make you an expert on anything. And the funny part is they are the same troll.

          • Guest

            Yeah, Tax the Rich HARD! He got a lot of mileage out of that line. LOL.

        • JC Teecher

          Amen! Enough is enough.

          I can tolerate heated discussion and waging a war of light against darkness anytime, but; this is ridiculous.

          when a poster becomes belligerant and makes it disgustingly personal, then it’s time to block.

          As with sbd, and snotty, I got my fill a long time ago. Carl? Everything out of his mouth is anti-God, or Christ and he makes it all about Christians are stupid for believing in a God that does not exist, yet he then turns around and claims to know scripture like a prophet. lol
          Enough of seeing a double mineded person’s rants over and over that add absolutely nothing to the blog.

          • Carl

            And I grown tired of hearing about god’s supposed plan and how america is his chosen nation and how he is on control and in the same breath how we have free will and god does not control us because he loves us.

          • JC Teecher

            There are many satanic cult sites out there where you can feel more at home.
            Go there. Be free without hearing fingernails on a chalkboard, as apparently you disdain all Christian speech.

        • FirstGarden

          Ha, that Gary2 comment was good.

      • JC Teecher

        I have done everything I know how to do, and I continually get the same Disqus response…..
        “Something went wrong while trying to block this user. Please try again later.”

        Thanks for the reply, I appreciate your honesty, and feel the same way about measuring light against dark. It is when there is nothing but total darkness coming from the same person, 100% of the time that it becomes a distraction and a 100% waste of time for me.

        I can deal with it and it isn’t a major problem to see the atheist posting, but I like non-atheist.

        A person just like Carl, a hard core atheist controlled another blog i was on for years, and eventually caused the readership to collapse into oblivion. The whole thing became a pi**ing contest between he and other posters for much of the day, and from what I can gather, most of those readers and posters never came back.

        Most people come to these blogs to learn and will not tolerate the kind of discussions that are never ending from people like Snotblossom and social beach dude.
        Remember, Snotblossom is the atheist that called my wife a whore? Do you think we should have to tolerate such people on a Christian based blog?

        Too much darkness there for me, so I have blocked her/it for a long time and feel good about it. That is where I am at with Carl, but can’t block him for some reason.

        • Carl

          This is not a christian based blog. It is an economic collapse blog. I will comment anytime I see someone saying that god is controlling this or that, because in all honesty you can’t have free will and god controlling things. The two just do not go hand in hand. Either god controls things or he doesn’t.

          • JC Teecher

            Carl, you are the epitome of a double minded person, and God says a person like you cannot be trusted by Him, or man.
            So, I choose to distance myself from you and any that follow you.

            Have a good trip, but your eternal trip will be short lived, lest you have a change of heart.

          • Carl

            God doesn’t have to trust any man. Christian or otherwise does he? Supposedly he is above such petty things as that.

            I don’t care if my trip is eternal. I don’t fear death – it’s the process that can really stink. Unlike most eternal life is not appealing to me in the least. So I guess that is why I am not sucked into the eternal torment nonsense that most believers adhere to.

            I for one believe we all go to the same place when we die – back to the source and ready for a reboot either on this earth or other places and planes of existence.

          • JC Teecher

            So that is it, you denounced Christianity because it did not allow for the crooked evil things you wanted to have in your life, and then you replaced it with a form of Hinduistic Reincarnation.

            I hate to break it to ya, obi Wan, but you ain’t gonna continue living without salvation by the blood of Christ.

            The only place non-believers have in their future beyond the flesh life, is the eternal destruction in the lake of fire.
            Where the soul and spirit is snuffed out, along with all remembrance of their existence from all minds, for eternity.

            So it is like you never existed.
            Pisspoor outlook for your brief freedom to do evil without conviction.

          • JC Teecher

            If you don’t think this is a Christian based blog, then read the mission statement at the bottom of the page by the owner of the site.

            He says one can find hope here. There is only one way to have true hope and that is through Jesus Christ Saviour, and that my misguided atheist person, is Christian based.
            So put that in your liberal azzed pipe and smoke on it.

          • Carl

            The articles are not christian based for the most part. Let’s just put it that way. I am neither a liberal or a conservative. I find when you label a person it automatically lumps them into one group or the other and with some people that is just not the case. I can have some values one may consider liberal and others that are very conservative.

            Unfortunately labels such as these are the #1 reason we are in the boat we are in right now. If people would stop labeling others and themselves maybe they could stop voting for or against democrats and republicans and vote for whomever they feel would do the best job (I am laughing as I write that but you know what I mean) and leave it at that.

            Instead we get lemmings who base their identity on being republican or democrat and will vote a straight ticket just to stick it to the opposition.

    • socalbeachdude

      You can individually block any user you want up to a certain limit on the number of users in Disqus by simply using the upper right arrow button on their comment.

      • aldownunder

        Yeah but he probably wants to block about 80% of the users
        He only likes those who up vote his religious rants and agree with everything he says

        • socalbeachdude

          No doubt!

  • Thebadguy

    Let it fall don’t try to put fear in the people. Sounds like the original obamacare. When it falls it will rise when numbers are strong. We need to put on our big boy pants and deal with it we are 20 trillion in debt pain is in our future. Thank your local and federal politician for those debts!

  • Mikel Ryanson

    Although republicans are not as crooked as democrats. Their stills almost all fake Christians. How can you claim your conservative or Christian and want to basically end Medicaid and Medicare. These same people are fine with more tax for military and war but not health care. Also The free market won’t solve everything. That’s just a bunch of nonsense. These people worship a crooked and rigged market. The only good thing about obamacare was expanding Medicaid and we need to keep that.

    • socalbeachdude

      How is any one a “fake Christian” for wanting to cut federal government spending? Medicare is an insurance program with OUT OF CONTROL SPENDING and authorized benefit payments need to be cut by at least 80% in most cases due to price gouging by the hospital and pharmaceutical industries. Medicaid is a shared program between states and federal governments that is just another GOVERNMENT HANDOUT program and needs to be scaled way back from where it is now as that type of spending is not even something that the federal government should be involved with at all.

    • Cinderella Man

      Well then you better call your Democrap reps and make them raise the debt ceiling or nobody’s getting paid

  • mleblanc138

    Sounds like I should go buy some April 7 SPY put options then.

    • socalbeachdude

      Buying the VIX is also a good play right now!

  • socalbeachdude
  • Cinderella Man

    If I was President Trump I wouldn’t trust Paul Ryan as far as I can throw him. Anyone who takes Soros money is a dirty rat. They need to pass this bill asap. Work out the details in the Senate. As I said before this rally was built on the premise that Obeezycare would be repealed and tax cuts enacted. People will be furious if it doesn’t pass and the stock market tanks. People don’t usually care about political issues until it affects them in the pocketbooks. This is also a test of the republican unity. We are not going to continue to vote for inaction. They better get their act together or they will be all out on their azzes. DRAIN THE SWAMP CLOSE THE BORDERS BUILD THE WALL!!!!! End rant

    • socalbeachdude

      This stock “rally” is as bogus as a $3 Euro. There cannot be and will not be any tax cuts. This GARBAGE BILL as proposed by the Republicans WILL NOT PASS AND WILL FAIL which is why they withdrew the voting today and numbers for it are highly unlikely to materialize by tomorrow or anytime without huge changes to this bill.

      • aldownunder

        If Trump can’t reform an unpopular and overly expensive medical care system, what can he do?
        Tax cuts…….Budget cuts…….. wont happen
        the beginning of the end as we know it is playing out right now in front of us all

        • socalbeachdude

          Yep, with all of the utter FOOLS ON WALL STREET as the suckers holding the baggy!

          • GSOB

            Isaiah 45:22

        • GSOB

          Numbers 21:8

    • William Lutz

      So are you suggesting that this faded version of Obummercare ought to be given the green light without much anticipation? I don’t want this bogus deal to be passed nor do I care about the negative outcomes on the stock market. Why should Obamacare Lite be enacted just to postpone the Wall Street crash? So what if people become angry about the bill and the stock market? If they get ticked off, then so be it.

      • JC Teecher

        I am not speaking for Cinderella Man, but I agree with him on the point about putting something forward so the Senate will have the chance to make amendments and change the bill to reflect more of the Rand Paul proposal.

        Sadly, that is the only way it gets changed, because the two faced Paul Ryan has sold out and was faking his allegiance to Trump, by initiating the corrupt thing in the first place.

        The part that really eats at my craw is the mandate, that if a person drops their coverage, or just can’t afford it any longer, that person has to pay a penalty, not to the gov, but directly to the Insurer. Bull Caca!

        • Cinderella Man

          Right on man. The individual mandate is the most terrible part of Obamacare. It is hurting the hardworking folks of this country and is legalized extortion

      • Cinderella Man

        I could care less about the house bill. It just needs to be good enough to meet the standards of Senate reconciliation. The Senate can iron out the rough spots.

    • FirstGarden

      Well ranted.

    • GSOB

      Matthew 11:28-29

  • socalbeachdude

    Not enough votes — House delays health care bill to Friday

    http://www.cnn.com/2017/03/23/politics/house-health-care-vote/

    Wall Street falls as doubts mount about Trump healthcare bill

    http://www.reuters.com/article/us-usa-stocks-idUSKBN16U1DH

  • socalbeachdude

    Trump tantrum looms on Wall Street if health care effort fails

    http://www.reuters.com/article/us-usa-markets-trump-analysis-idUSKBN16T2YH

  • socalbeachdude

    No replacement of ObamaScare is far better than a bad replacement. The bottom line is that no medical expense insurer can ever be compelled / forced to issue medical expense insurance coverage to anyone at a GUARANTEED LOSS. Medical expense insurance, like all insurance, is STATE REGULATED and the primary purpose of such regulation is to ensure that all companies doing business in any line of insurance always REMAIN SOLVENT.

    No insurance company can remain solvent if they are prevented from doing sound underwriting and excluding guaranteed loss situations from getting coverage. The Republic plan ENTIRELY FAILS TO ADDRESS THIS MATTER which is the core reason why nearly all insurance companies are withdrawing any participation (coverages) from availability with ObamaScare.

  • socalbeachdude

    Howard Gold: Trump rally could smash on the rocks of health-care vote

    http://www.marketwatch.com/story/trump-rally-could-smash-on-the-rocks-of-health-care-vote-2017-03-22

  • socalbeachdude
    • Spatial Memory

      All the way down to 20,600+ …. only another 11,800 and back to where your Crash and Collapse howls began!!

      • socalbeachdude

        The Dow (DJIA 30) is headed down around 75% over the next 25 years and will reach right around 5,000 when all is said and down and many stocks will have 100% losses across the broad 6,300 or so stocks in the US markets.

        • Spatial Memory

          You realize the components and divisor calculation methodologies are modified annually. Neither my crystal ball nor ouija board are certain which component companies will be dropped/added nor the exact divisor modifications.

          You may want to double check your “across the board 6,300” source as there are more than 10,000 public companies just on OTC markets.

          Thanks again for guessing. 🙂

          • socalbeachdude

            There are only about 6,300 major public corporations on the stock exchanges in the USA. The penny stocks on the OTC markets don’t matter a hoot.

          • Spatial Memory

            What the heck is a major public company?? Roflmao

          • socalbeachdude

            A company was actual earnings in excess of at least a minimum of $1 million a year.

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Trump’s ultimatum:

    Donald calls House Republicans’ bluff and tells them to hold healthcare vote on Friday or KEEP OBAMACARE

    The White House issued a blunt warning to House Republicans Thursday night, telling them to vote on an Obamacare replacement on Friday or risk squandering their only chance to get rid of the law they have voted more than 50 times to repeal. The White House dispatched chief strategist Steve Bannon, chief of staff Reince Priebus, chief counselor Kellyanne Conway and budget director Mick Mulvaney to meet with Speaker Paul Ryan and other GOP members of Congress Thursday evening. Mulvaney delivered a blunt warning: Vote on the American Health Care Act or Trump will leave them twisting, Obamacare will remain the law of the land, and they’ll be stuck with the blame.

    http://www.dailymail.co.uk/news/article-4342768/GOP-doesn-t-guaranteed-votes-pass-Obamacare-repeal.html

  • socalbeachdude

    Voters give Trump 49 per cent approval in new poll – beating his performance in November’s election

    A hair shy of half the country approves of President Trump, with 49 percent giving the new POTUS a thumbs up, according to a new Harvard-Harris poll.

    http://www.dailymail.co.uk/news/article-4343330/Voters-Trump-49-cent-approval-new-poll.html

    • FirstGarden

      A hair? I assume there was no pun intended.

  • socalbeachdude

    ‘I’m president and you’re not’ Trump tells his critics in Time magazine interview

    President Donald Trump sat down with Time magazine for a combative back-and-forth over his credibility, where he taunted his detractors by pointing out one single fact.

    http://www.dailymail.co.uk/news/article-4342054/I-m-president-not-Trump-tells-critics.html

  • Captain Canuck

    THE MOST IMPORTANT paragraph ever written in this blog.

    “Once upon a time when we actually let the free market determine the allocation of healthcare resources, we had the best healthcare system in the entire world.

    But after decades of experimenting with socialist principles and adding mountains of rules, regulations and red tape to the system, we have a giant mess on our hands.

    Either we need to go back to a true free market system, or we might as well go ahead and just socialize the entire thing.”

    Government might be inefficent, but corporations are predatory by nature. Health care should not be left to the free market Go with the latter. The rest of the world has. You won’t be dissappointed.

    • socalbeachdude

      Government should have NOTHING WHATSOEVER to do with any medical expense programs (which you call “healthcare”) but that should be ENTIRELY THE PROVINCE OF THE FREE MARKET with free market pricing which would greatly bring down its cost if the consumers were REQUIRED TO PAY THE COSTS OUT OF THEIR OWN POCKETS which is exactly what needs to be done with the medical mess in the USA.

      • Spatial Memory

        No person alive today has EVER experienced one single day of Free Market(s) – nor would they want to. 🙂

        • socalbeachdude

          Many people alive today have fully experienced and participated in the FREE FALL MARKETS of 1987, 2000, and 2008 and lost trillions in the process of those markets functioning quite freely!

          • Spatial Memory

            One bulls freefall was another bears windfall

          • socalbeachdude

            I couldn’t give slightest bit of a hoot about individual profits or gains. That is NOT what the markets are all about at all but rather exist as PRICE DISCOVERY MECHANISMS and are about to operate in full force to do proper price discovery.

          • Spatial Memory

            The efficient market hypothesis (EMH) is an investment theory that states it is impossible to “beat the market” because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information.

          • socalbeachdude

            Theory smeary. What utter nonsense! Anyone who tries to time the markets always – and I mean always – loses.

          • Spatial Memory

            ROFLMAO!!!

            Try the other side of nearly every prediction you’ve made in recent years. They’ve been INCREDIBLY profitable and nearly FLAWLESS on timing!!!

            Sorry for your losses.

          • socalbeachdude

            I have no losses whatsoever.

          • LIZ THE SHIZ

            but what about your MIND ?

          • socalbeachdude

            My mind is wonderful, but there are serious questions about YOURS based on your nonsensical comments.

  • max gon

    How about cutting half of the military budget and put that money into the healthcare system. I guess that makes more sense.

    • socalbeachdude

      How about doing JUST THE OPPOSITE? Total military spending is only 16% of the federal government budget whereas social spending including Social Security and Medicare and Medicaid are more than 63% of the federal budget spending of around $4 trillion a year. It makes vastly more sense to cute SOCIAL SPENDING than anything else and would actually move us towards or to a surplus if we in fact did so, wouldn’t it?

      • Spatial Memory

        Quick extrapolation of the FISCAL MULTIPLIER and ancillary benefits throughout the economy likely quickly offsets any nominal current account surplus. Jmho

        • socalbeachdude

          What on earth do those nonsensical assertions have to do with getting federal spending brought under control and moving towards and to a balanced budget?

          • Spatial Memory

            the fiscal multiplier (not to be confused with monetary multiplier) is the ratio of a change in national income to the change in government spending that causes it. More generally, the exogenous spending multiplier is the ratio of a change in national income to any autonomous change in spending (private investment spending, consumer spending, government spending, or spending by foreigners on the country’s exports) that causes it. When this multiplier exceeds one, the enhanced effect on national income is called the multiplier effect. The mechanism that can give rise to a multiplier effect is that an initial incremental amount of spending can lead to increased consumption spending, increasing income further and hence further increasing consumption, etc., resulting in an overall increase in national income greater than the initial incremental amount of spending. In other words, an initial change in aggregate demand may cause a change in aggregate output (and hence the aggregate income that it generates) that is a multiple of the initial change.

            Educate yourself!
            🙂

          • socalbeachdude

            SO WHAT?

          • Spatial Memory

            SO CLUELESS? socluelessbeachdude? 🙂

          • socalbeachdude

            That does describe YOU just perfectly!

          • Spatial Memory

            SoFloridaBeachDude 🙂

          • socalbeachdude

            All that your jibberjabber says can be summed up quite simply as:

            THIS SUCKER’S GOIN’ DOWN!!!

          • Spatial Memory

            socalbeachdubya speak

          • socalbeachdude

            George Bush spoke very eloquently and clearly that day he made that statement!

          • Spatial Memory

            Barffff!!!!

          • socalbeachdude

            George W. Bush (Little Shrub) was the ONLY President who could have – and did – ever say:

            “Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.” ― George W. Bush

          • Spatial Memory

            misunderestimated

          • Cinderella Man

            Snodtbeachdude man I’m glad I blocked that creature

          • Ricardo

            Yeah but now I have acres of white space on my computer screen. Will you people stop replying to him/her. Everytime you reply they reply and then I end up with more white space.
            HA HA HA HA

          • socalbeachdude

            I see you love to wallow in IGNORANCE.

          • JC Teecher

            Yea me too. I opened him/her/it, back up just to see the response to something I posted, and voila’, the some old song and dance about how great heshe-it, is.

            Says heshe-it, makes “highly lucid comments” here.

            What a joke! A real piece of loser, like Carl and a few others..aka fartyblossom.

          • LIZ THE SHIZ

            Socallednudebeachdude

    • Cinderella Man

      I’m still searching in the constitution where it says people have the right to healthcare. People got along just fine before Obeezy care was shoved down their throats

      • FirstGarden

        I’m still searching in the constitution where it says people are REQUIRED to buy healthcare insurance.

        • FirstGarden

          p.s. you shouldn’t make fun of O-bungle like that.

      • Carl

        Do you believe that if a person wants to die they should be allowed to? Why does the government have a say so on how long a person lives or in what manner they leave this planet?

        When you are a have you think everything is perfect and that the system does not need to change. When you are on the other side of this you realize that things are not as they seem to be and that things need to change.

        If you ever become a have not you will understand.

  • Spatial Memory

    When the DJIA is at 20,656 and drops 1,000 using base 10 mathematics that is equivalent to a 4.84% decline.

    Applying the industry standard definition of a Crash at 30%, a Correction being 10% and (normal profit-taking)/ pullback = 3-6%.

    • socalbeachdude

      Don’t worry! Be happy! The plunge will very quickly blow down through 10% then 20% then 30% then 40% then 50% and many stocks will like fall more than 80%! Keep in mind that all stops for any stock when it drops 100% and you can never lose more than 100% on stocks, except in certain relatively rare cases!

      • Spatial Memory

        Thank you for the brilliant analysis. 🙂

        • socalbeachdude

          You’re so very welcome!

          • Spatial Memory

            Who the heck would upvote that?

          • Cinderella Man

            Himself

  • socalbeachdude

    NYSE “CIRCUIT BREAKER” RULES WILL HELP CUSHION MARKET PLUNGES

    The NYSE circuit breakers won’t kick in until a 1050 point decline on the Dow (DJIA) 30. It should be noted that effective April 8, 2013, the NYSE Circuit breaker rules were amended:

    Rule 80B

    Effective April 8, 2013, amended Rule 80B will be in effect. Amended Rule 80B replaces:

    • the DJIA with the S&P 500 as the benchmark index for measuring a market decline;

    • the quarterly calendar recalculation of Rule 80B triggers with daily recalculations; and

    • the 10%, 20%, and 30% market decline percentages with 7%, 13%, and 20% market decline percentages.

    http://usequities.nyx.com/markets/nyse-equities/circuit-breakers

    • Spatial Memory

      More likely exacerbate imbalances and transaction times. Jmho:)

      • FirstGarden

        Exacerbate?
        Do you mean what they do all day
        behind closed doors?

        • LIZ THE SHIZ

          they are “MASTERS” at it

          • FirstGarden

            With a degree.

          • LIZ THE SHIZ

            yes, I saw his diploma and his name is Jergen Hoff

          • SnodtBlossom

            Dann wird der Herr dich unter allen Völkern zerstreuen, von einem Ende der Erde zur andern. Dort werdet ihr andere Götter-Götter von Holz und Stein anbeten, die euch weder noch noch eure Vorfahren gekannt haben. 65 Unter diesen Nationen findest du keine Ruhe, kein Ruheplatz für die Sohle deines Fußes. Dort wird der Herr dir einen ängstlichen Geist geben, die Augen sehnsüchtig und ein verzweifeltes Herz. 66 Du wirst in ständiger Spannung leben, mit Furcht gefüllt von Tag und Nacht, nie sicher von deinem Leben. 67 Am Morgen wirst du sagen: “Wenn es nur Abend wäre” und am Abend, “Wenn es nur Morgen wäre!” – wegen des Schreckens, der deine Herzen füllt und die Anblicke, die deine Augen sehen werden. 68 Der Herr wird euch auf einer Reise in Ägypten zurückschicken, ich sagte, du solltest es nie wieder machen. Dort wirst du dich für deine Feinde als männliche und weibliche Sklaven anbieten, aber niemand wird dich kaufen.

  • socalbeachdude

    VIX cycles set to explode March/April 2017 – Part II

    http://www.thetechnicaltraders.com/partners/idevaffiliate.php?id=115_329

    • Black

      VIX? That’s a good one. Kinda like CPI and inflation

  • J.j. Cintia

    If you don’t buy this fake insurance we’ll shoot this dog and his friend the little yellow bird. Don’t make us blow up your fake retirement account you can’t cash in. You can’t fight city hall, and if you don’t pay for it we’ll close it down. If you cannot support us with higher taxes, we’ll kill the stock bubble we built to fool you into believing the fake talk about recovery. Act now, operators are standing by. Limited time offer. A certificate of authenticity for the first four hundred million customers signed by robopen.

    • socalbeachdude

      That’s funny!

      • natxlaw

        Funny because it’s true.

    • FirstGarden

      But wait! There’s more!
      Call right now and we’ll double your offer..
      for you, and your significant other!
      Just pay for shipping and handling…
      (You’ll find out how much that is soon enough.)

  • billtheguy

    Healthcare will NEVER be settled. That’s why Obama pushed it through. Too many organizations need to be appeased. Insurance companies, hospitals, AMA, government, and the citizens. We will keep wasting tax dollars as repeal/replace is going into its third month. CANNOT MAKE EVERYONE HAPPY, YOU JUST CAN’T.

    • JC Teecher

      obamacare was never about helping people at it’s root.
      it was about “control” by pushing people into forced vaccinations and death camps.

      why do you think it was nearly 3000 pages long? they, the liberal new worlder’s had it all planned and in the fine print, that could easily be interpreted to their liking when they needed it to make their cases in the future world to come.

      • Cinderella Man

        We have to pass the bill to find out what’s in it – Nancy Pelosi the same libtard that believed people should go to jail for not having insurance

        • JC Teecher

          Libtard is right. Libturd is also right.

        • GSOB

          To be politically correct, Nancy Pelosi is a leftist.
          left-of-center

      • billtheguy

        Yeah! forgot about the new world order. I’m over 50, sorry no transplant for you! Do you think socalbeachdude has a real job? Posts all day.

        • JC Teecher

          SBD is probably a spoiled brat kid, in his 30’s, living in Momma’s basement and on drugs.

          Most days he sleeps in till afternoon when Mommy brings down his sandwiches and prepared beverages.

          He proley goes out for a quick spell to score, and run back in the basement to do it all over again.
          Some days he has enough dope to keep him going thru the night and in to the next day or even two, if he is on meth.

          Just speculating from what I have gathered about his type over the past decade working these prepping sites.

          • socalbeachdude

            What utter BS nonsense. Both of my lovely and wonderful parents passed away years ago and I have no interest whatsoever in drugs as should be quite clear from my highly lucid comments, unlike yours, I must add for which one of the explanations could well be just what you describe.

          • GSOB

            May God bless their souls

          • JC Teecher

            Well, maybe you should be on drugs to help with your strong delusions and blind observations. “highly lucid comments”, lol.
            You have become the laughing stock of the forum and everyone sees the utter insanity in your spirit by your continual use of caps, bold type, and up-voting yourself.

            Just sayin’, maybe you should take a chill pill, or three or four.

            Now, back on “block” for you. This was a temporary response to you, because you are as annoying as a boil on a hemorrhoid.

          • socalbeachdude

            Thank you for describing YOURSELF and your blathering nonsense just perfectly!

          • Cinderella Man

            Mooooom bring me another hot pocket I’m busy trolling the Economic collapse blog!!!

        • socalbeachdude

          I have no interest whatsoever in a “job.”

          • GSOB

            Vocation vacation

  • Allen

    5% ???? That’s a dramatic stock market plunge. Please. It will just pop back up again as the sheeple place their collective faith in a lie.

    • Spatial Memory

      You were on a roll until that guess.

  • Allen

    Where is socialized medicine in the constitution???

    • socalbeachdude

      Nowhere!

  • Allen

    Or socialized security for that matter???

    • FirstGarden

      SSI is not an entitlement, per se. You pay into it over your life thwn receive a benefit. But leave it to big govt to jack it up anyway. And far fewer today are throwing into the pot, in ratio to those who receive it.

  • Allen

    Or government provided housing or food or schooling for that matter???

  • Allen

    America is already gone!!!

    • socalbeachdude

      Not quite yet.

  • Allen

    Someone once said “the best way to help the poor is to make them uncomfortable in their poverty”. Now that’s wisdom.

  • Allen

    Teach a man to fish and you feed him for a lifetime. Give a man a fish and you teach him where to find a free meal.

  • CalebBrewster

    LOL, Where’s that imbecile Bill ? The one that loved to chant about Trump and was stupid enough to yammer about him being a true Conservative.

    How’s that true conservatism workin out for ya Billy boy.

    • JC Teecher

      I was thinking the same thing just yesterday. What happened to him?

      That was Bill of Wimington NC. He was the hard core rapture.crapture believer, but i still liked him and have prayed for him.

      mtntrek3 is a fan of his and asked me a while back, but I have no clue as he never offered his personal e-mail.
      I hope he is OK, either at home, or if maybe was called to his eternal home before he ever got to the non-rapture event that is coming.

      • FirstGarden

        “non-rapture event” – that was funny.
        (thumbs up)

  • Black

    A thousand points is FAR from a crash. Ten thousand points? Now that would be a crash and is not farfetched

  • jakartaman

    Government should stay out of healthcare and let the market do its thing.
    Every law that we have is an assault on our personal freedoms

    • Black

      Hospitals and doctors should provide a service-Cash on Demand: No money-no treatment. If you can’t afford to get sick-don’t. If you do and can’t pay-go off in a corner somewhere and die but leave the rest of us out of it. Like that?

      • Carl

        You would feel differently if you were refused treatment and told to just go off and die or one of your family members were told such a thing.

        If many people believe this then why not legalize euthanasia? A person should not have to just go off and die if they get sick because they can’t pay a bloated medical bill. Maye we need to stop with for profit health care and take a look at the bloated salaries of administrators and go from there.

        • FirstGarden

          I agree with the humanitarian aspect of it. I just don’t agree with letting so many undocumented democrats into the country. Normal emergency health needs are one thing, and we can handle it. But 12 plus MILLION of them?? This is a colossal aberration; essentially a raid and pillage of nations’ people upon another’s resources.

          Please don’t get me wrong. I love Mexican people, have worked for decades with many, hard-working immigrants. (We ALL come from immigrants anyway.) I have two daughter-in-laws that are Mexican, and I love them very much.

          But we do have certain immigration laws in place for a reason, just as any other sensible nation does. It is antinomian-lawlessness to just allow them all in in order to build large voting blocks for the left.

          I was born and raised liberal democrat, so it’s not that I have an ax to grind. I just want to get back to sanity, while there’s still hope. (thumbs up)

          • Carl

            This is your governments fault and there is no one to blame for this but members of congress and state and local government officials. This however, does not address the reason medical care is so expensive.

          • FirstGarden

            Expensive because it is a racket. Because it is such a necessity, they exploit the naive masses with fear and various forms of manipulation.

            The Pharmaceutical Mafia writes the medical journals the doctors read who get their free trips to the Bahamas, etc, etc for pushing pills and getting people hooked for life.

            The FDA sleeps with them nightly, as does/would every other corrupt g o v t agency, selling off the masses for a buck. In fact, some have been known to work for BOTH Big Pharma and the FDA in a given workday.

            Big Insurance gouges all they can from the sheeple with rigged policies and monopolized markets. They also go to Big Corp and tell them, “Look, we’ll keep your premiums down if you hire the young.”

            Cancer is a huge racket as people now go under the knife for everything and anything. “Got a gall bladder problem? Let’s yank it out.”

            I know a nurse who told me that she had to sign a non-disclosure agreement about cancer, meaning, if she ever discovered, or learned of any cure for cancer, that she is forbidden to talk to anyone about it.

            How do ya like those bananas?

          • Carl

            Yes there is collusion all around. They have cures for cancer Royal Raymond Rife was one of the pioneers.

          • Jerry C

            The cure for cancer is an alkaline environment. Most people’s bodies today are extremely acidic creating a hot-bed for cancer.

  • Undecider

    Don’t give in to the terrorists.

  • e.g.

    Bottom line, if they dont deal with the cost of healthcare, including drugs which we pay 3x what our northern neighbor Canada does, then nothing will help. The Rhino’s only care about making sure the profits keep going up. That includes eliminating 24 million people from the rolls!

    • JC Teecher

      Don’t fall for the lies of the left.
      These 24 million are not medicaid and welfare cases.
      These are people that are working, or at least have income enough to afford to pay for healthcare.
      In most of these cases they are just accepting susidies from the gov, in order to have premium type insurance, and then forego more expensive employer based plans.

      If the obungluercare were stopped today, many of those 24 million would continue to keep their coverage. many more would then shop for insurance that was in line with what they are paying out now.

      In a few cases, many would become, and stay, uninsured, by their own choices, and not because insurance wasn’t available.

      The left, and the Insurance companies want us to believe that the elimination of Obomacare would put these people out of the market, with no alternatives, but that is because the insurance and the left want to keep using taxpayer $$ to continue to subsidize lower middle class customers, while causing the profits of the lobbyist driven Insurers go through the roof, and the kickbacks continue to flow to liberal politicians.

      That is the underlying game being played.
      No child or elderly or disabled person will go without medical care tomorrow, if obunglercare is eliminated today.
      Why is it that able bodied persons need taxpayers to foot the bill for part of their healthcare premiums?
      Because the left/liberals have said so, and the sheeple keep falling for their con games. Over and over. time and time again.

      Do not be fooled into their narrative of lies.
      24 million will not suffer dire consequences if, and when obunglercare dies.

      • Carl

        I doubt that about subsidy based health care. You have to meet in most cases a 10,000 plus deductible every year so it is not really making anyone reach or getting something for nothing. Sometimes the employer plan has similar deductibles and higher monthly payments, so why shouldn’t they take whatever is lowest for them monthly? If it is available for them they have every right to use it.

        If you really want to complain about something, then complain about your tax dollars going to the insurance companies since they get that subsidy money.

        Not to mention neither trumpcare or obamacare will only increase medical costs across the board for everyone. From hospitals, dermatologists and everyone in between. Until we get a handle on capping costs for procedures and medications nothing will change.

        • socalbeachdude

          Very soon, THERE WILL BE NO MEDICAL EXPENSE INSURANCE COMPANIES OFFERING ANY COVERAGES AT ALL so you can stop whining about any subsidies.

          • Carl

            Promises, promises surfer caliente dude.

          • socalbeachdude

            I am simply stating what is INEVITABLE and what is already happening big time.

      • socalbeachdude

        False. Those few medical expense insurance companies which participated in ObamaScare are nearly ALL WITHDRAWING FROM OFFERING ANY COVERAGES for medical expense insurance due to HUGE AND GROWING LOSSES which is the only result that could have happened given the destruction by ObamaScare of PROPER UNDERWRITING AND EXCLUSION OF GUARANTEED LOSSES FROM COVERGES.

    • socalbeachdude

      Yes, that is essentially correct and the core of the problem and the very same applies to the for-profit HOSPITAL CORPORATIONS.

  • retired22

    And if the hustlers in the financial market gambling casino were to get burnt should I feel bad?
    These financial vultures need to go down in any case,sooner the better.They need to fail if the rest of us are to survive.

    The F.I.R.E. Industries are the people who are sucking the life out of our economy,they make billions by funny games with leveraged money & their profits are the countries losses.They are basically overhead needing to be carried by the productive economy!

    The basic debt based reserve banking system of the Central Bankers was set up to squeeze the life out of the nation for their own profits from the very beginning!

    • socalbeachdude

      Absolutely false and utterly clueless assertions by you.

  • Nailbanger

    1000 points is hardly a crash,,,,

  • e.g.

    J.C., tell me why we pay 3x for meds than the Canadians do? Do you disagree that the cost equasion has not been covered by the Republicans? Why is that we must ask ourselves?

    • JC Teecher

      It is because Big Pharma has players on the inside for them, called politicians.
      it is because we as free born citizens are not allowed to purchase Insurance across State lines, and cannot use block/co-op/group members to shop anywhere and purchase the best policies for the lowest amount of money, for the entire group.

      • Carl

        Do you think that if you purchased insurance in another state that you would be able to find a doctor in your area that would take your coverage? I am sure the insurance companies would make the buying insurance across state lines thing moot and pointless. They work together when it means more profits to go around. Now if it could be across countries then maybe that would benefit us.

        • socalbeachdude

          Laughably false.

        • FirstGarden

          If we could force them to compete, instead of holding monopolies, that would be something. I think too much money is passing around under the table.

          • socalbeachdude

            “Competition” has nothing whatsoever to do with medical expense costs in the US. No insurance companies are ever going to “compete” against each other to get GUARANTEED LOSSES which is precisely what ObamaScare ensures and precisely why medical expense insurance companies are withdrawing from it.

          • FirstGarden

            Well, I have to wonder. As I understand it, the game is rigged, partly by territory. The inability to buy across state lines suggests monopolies; “protected territories”, if you will.

            Does this not lend itself toward higher costs? If it was truly an open market, it would seem that due to more choice, there would be pressure to compete for the business, as opposed to it being handed or “assigned” to them at the state level. If such were the case, it clearly smacks of cronyism, which has been my suspicion all along.

            Where am I missing it? Care to elaborate?

          • socalbeachdude

            All insurance which spans about 21 separate and distinct lines of insurance broadly split into 1) Life & Disability and 2) Property & Casualty is a STATE REGULATED BUSINESS controlled by state insurance commissioners, but no, that certainly does not contribute to any higher costs at all.

          • FirstGarden

            So, if any insurance company were free to market their services in any state they want, that wouldn’t have any impact on costs at all?

          • socalbeachdude

            Most all major insurance companies – and there are really very few left from what there used to be 40 years ago – do market their products in ALL 50 STATES but those products must be approved by the insurance commissioners in each state and those selling the products must be licensed by the state in which they reside and sell those products.

            We already have essentially a national insurance system in terms of distribution but it is STATE REGULATED AND LICENSED in each of the 50 states by their own insurance commissioners rather than by the federal government.

          • socalbeachdude

            One of the key problems in the US with delivery of and payment for medical services is that there are a NUMBER OF OVERLAPPING systems, including:

            1) Self-insurance by both companies for their employees and and by individuals

            2) Individual medical expense insurance with a variety of plans ranging for MAJOR MEDICAL coverages only to COMPREHENSIVE MEDICAL coverages

            3) Group medical expense insurance which operates differently in many respects from individual medical expense insurance

            4) Workers Compensation insurance which becomes primary for workers injured on the job in the course of employment and which has been expanded way beyond its original definition of injuries especially in terms of work cause illness and mental issues

            5) MEDICAID which operates different in each state based on the design of state Medicaid plans which are partially but not completely subsidized by the federal Medicaid program. Some states offer extremely extensive coverages while other states do not offer any version of Medicaid for those unable to pay their own medical bills.

            6) Charity medical services including both CLINICS and HOSPITALS

            7) Medicare which has 4 separate parts and which applies only to those over 65 or persons who are on Social Security Disability. Medicare Part A has no premium for those who qualify and covers basic hospital services. Medicare Part B has an additional premium of $104.90 per month and covers doctors and other specified services and is deducted from Social Security payments for those who qualify and apply for it. Medicare Part C is an experimental option of Medicare A recipients and acts similar to Medicare Supplemental Insurance and while being phased out is still offered by such providers as SCAN, and Medicare Part D which is a huge complicated mess involving private insurers subsidized by the federal government for the purpose of pharmaceutical drug coverages,

            8) Private Medicare Supplemental Insurance which comes in a complex variety of FEDERALLY SPECIFIED plans Name “A” through “F” which offer certain specified additional benefits to Medicare Part A and Medicare Part B.

            9) ACA which throws the who existing system of medical distribution and coverages into total and complete disarray by meddling with nearly all of the categories above and attempting to push the COSTS AND LOSSES onto private insurance companies along with penalties and high premiums for potential insureds.

          • socalbeachdude

            Premiums (rates) are determined in all medical expense insurance based on MORBIDITY TABLES which are national in scope and based on the “law of large numbers” and which predict the RISK OF LOSS for all types of medical conditions which different very significantly based on the sex and in some cases on the race of the insured but have little differences nationally with very few exceptions.

    • socalbeachdude

      Egregious price gouging by PHARMACEUTICALS.

  • LIZ THE SHIZ

    Michael’s headline just means some Wall Streeter has shorted healthcare sector and is pumping / dumping and hedging their short position

  • e.g.

    As much as I support Trump, he ran on a platform that he would lower the cost of healthcare itself, even calling out Canada! So far, nothing is said about that major point.

    • socalbeachdude

      Medical expense costs WILL CONTINUING GOING UP until and unless the CAUSE OF THOSE COSTS is directly address which is outrageous and EGREGIOUS PRICE GOUGING by the hospital and pharmaceutical industries.

      • FirstGarden

        Well now, that’s tellin’ it like it is. You practically duped a post I did earlier today. All that to say, I totally agree.

      • e.g.

        you are 100% right!

    • FirstGarden

      He ran on a platform.
      At first, I thought you said he ran OUT of platform.
      Got me thinking for a moment.

  • e.g.

    I agree completely. Trump was supposed to drain the swamp. I can only try to assume that he is waiting till the bill passes before he attacks that problem. Right now that would be politically impossible I am sure.

    • socalbeachdude

      This piece of garbage Republican bill did not pass but rather failed and no voting even took place on it today as it was pulled just before it would have gone down in BLAZING DEFEAT in an open vote in the House today.

  • e.g.

    Besides, if America would stop starting wars all over the globe that return nothing besides badwill and many thousands of deaths, we could save hundreds of billions in unnecessary war costs. Americans are asleep and really have no idea what is going on

    • GSOB

      Instead of protecting our nation’s borders, the U.S. military is used by the Washington elites to protect the petrodollar system.

      • Dean

        Laughably True.

        • socalbeachdude

          Obviously not.

          • Dean

            Socalbeachdude now blocked. Laughably True.

          • socalbeachdude

            Goodbye!!!

      • socalbeachdude

        There is no such thing as the “petro dollar.” Oil accounts for LESS THAN 5% of all global trade.

        • Spatial Memory

          Rotflmao

          • socalbeachdude

            The so-called “petrodollar” is irrelevant – Steve Saville

            A recent article posted at Casey Research trumpets the view that the petrodollar system is on its last legs and that when it dies — quite possibly in 2017 — it will be a massively disruptive event for the US economy and the financial world, leading to an explosion in the gold price. The reality is that the so-called “petrodollar” is probably not about to expire, but even if it were the economic consequences for the US and the world would not be dramatic.

            According to the “petrodollar system” theory, an agreement was reached in 1974 between the governments of the US and Saudi Arabia for the Saudis to do all of their oil transactions in US dollars and influence other OPEC members to do the same. In return, the US government vowed to support and protect the Saudi regime. Also according to this theory, the US economy benefits because the pricing of oil in US dollars creates additional global demand for US dollars and US assets.

            The agreement might have happened, but there is no good reason that it would still be in effect. Considering the popularity of the US dollar in global trade and the size of the US economy, an agreement between the Saudi and US governments would no longer be required to entice the Saudis to price their oil exports in dollars. It would be inconvenient for them to do otherwise.

            In any case, even if the “petrodollar” agreement happened and remains in effect to this day it would not be of great importance. The reason is that the international trading of oil accounts for only a minuscule fraction of international money flows.

            http://www.24hgold.com/english/news-gold-silver-the-petrodollar-is-irrelevant.aspx?article=10558437950H11690&redirect=false&contributor=Steve+Saville&mk=1

          • LIZ THE SHIZ

            yeah and Steve’s brother Jimmy Saville wrote about the Pedodollar

          • socalbeachdude

            I’m sure those jerks wrote about a lot of things that were just total fantasies!

          • GSOB

            Trillion is the new million in this millennium

    • socalbeachdude

      Military spending at the federal level including all “wars” is only 16% of the annual federal budget.

      • e.g.

        It is essentially 1 Trillion dollars a year all considered. So it is ONLY 1 TRILLION? REDUCE THAT BY 20 PERCENT AND YOU HAVE 200 BILLION DOLLARS TO REBUILD AMERICA. NO MORE SENSELESS IRAQ WARS THAT COSTED US ABOUT 10 TRILLION JUST THERE ALONE!

        • socalbeachdude

          “Rebuilding” America is certainly not the job of the federal government. I agree with stopping the US governments various WARS OF TERROR around the world but that would save very little money from the federal government military spending which amounts of about 16% of the annual federal budget plus another 4% for Veterans Benefits.

  • JC Teecher

    Well; the music is dying around Capitol Hill for the celebration of passing of any sort of new Healthcare reform bill today, and for the foreseeable future, thanks to the insurance lobby and paul Ryan.

    The DOW and S & P are taking on negative numbers in response.
    I don’t believe we will see too drastic of a drop today, but possibly Monday a tad more.

    The numbers that I get excited about and directly has an impact on my wallet and many others across America, is the price of crude oil.
    We are getting closer to the figures I like seeing at the pump before our warm weather trips start up. To put extra hundreds of dollars in our pockets over the traveling season, we like to see gasoline at less than $1.99 a gallon. On our many trips to the beach, we have been able to find gas in SC, at a buck 55 to a buck 75 in the past.
    It has been steadily dropping to about a buck 85 just south of Charlotte, NC. across the state line. Luv, luv, luv it.

    That salty smell of ocean breezes and freshly shucked oysters are in the wind. Fresh cut shrimp and squid on a fish hook is good too.

    • socalbeachdude

      The “insurance lobby” had nothing to do with the defeat of this absurd garbage bill that Ryan and some other jackass Republicans tried to ram through today and which failed. Medical expense insurance companies will simply CONTINUE TO WITHDRAW FROM ANY PARTICIPATION in ObamaScare nonsense and cannot be forced by the federal government to cover GUARANTEED LOSSES as they are regulated by STATE INSURANCE COMMISSIONS with the primary goal of regulation being that they maintain SOLVENCY at all times.

  • Carl

    Having insurance does not mean that they will cover you for a medical procedure that you need done. There are plenty of people with insurance and they are unable to get an operation or a treatment or medication because the insurance company will not cover the cost. Since these conditions are not life threatening the hospitals will not do said procedure(s) without payment up front. So having insurance does not mean you will get to use your insurance. Many times claims are denied 2 or 3 times before approved – if they are approved at all.

    • socalbeachdude

      Where do you get those nutty and false assertions?

  • alan

    Give a man dynamite and he can fish and break his arm at the same time.

    My company offered me insurance at a $1000 a month with a $12,000 deductible. It would be better if I got sick for my family to drop me off in the land fill.

    • socalbeachdude

      Soon you will find NO COVERAGE OF ANY SORT AVAILABLE AT ALL for medical expense matters.

      • LIZ THE SHIZ

        and then both people from both the left and the right will revolt which will issue in socialized medicine

        • socalbeachdude

          Nope, as there would be NO MONEY TO PAY FOR SUCH NONSENSE unless everyone agreed to paying $25,000 per family per year more in federal taxes to support it. Socialized medicine is DOA.

  • alan

    As the swamp now starts to drain Trump things will soon turn back down hill.
    Get your house ready because the kids will moving back home.

    • socalbeachdude

      Huh?

  • Richard O. Mann

    Government should have never become involved in health care. They screwed it up just like everything else they get involved in.

    • socalbeachdude

      100% correct, Richard.

  • socalbeachdude
    • CASTIEL

      Go take your medication……you deserve a live grenade in your mouth for your arrogance and stupidity….Let others put their opinions….if you want want to feed your weak ego….do it by eating grass like the sheep you are……

      • Realist

        Would you like us to send you a Rubic’s Cube? Better yet a Playstation?
        These are excellent preoccupations to busy perverse minds.

        • socalbeachdude

          Indeed, that sorry than is hopeless.

        • CASTIEL

          You can put the palystation in a place where the sun dont reach…….like other people i can go to the same websites see those news……..but if is normal to you a retard that always full this blog with his crap…just carry on…..

          • socalbeachdude

            Another completely incoherent misspelled comment by you devoid of any substance whatsoever. Why?

          • CASTIEL

            Better than your copy n pastes and upvotes….idiot….

          • Realist

            How about an Xbox for a very perverse mind like yours? It’s a good diversion for someone bordering suicidal.

          • CASTIEL

            Me suicidal??? nah….. probabily I would break your tiny legs just for fun….Go piss someone else stupid kid…..

      • socalbeachdude

        Those were the KEY HEADLINES in the Drudge Report concerning this matter of the Republican alternative bill going up in flames yesterday and each of those 4 lines has excellent articles which I would suggest you read and attempt to comprehend.

        • CASTIEL

          F#ck you and your copy n pastes…your stupid upvotes and the other 100 posts by you in this blog……

      • Jill

        His valid post doesn’t mean you are barred from offering an opinion.

    • SnodtBlossom

      I want to tell you how much I enjoy your presentation to our group. We have been reading a lot about the history of Obamacare, and your illustrated talk made it all come alive for us. It was thoughtful of you to add those personal observations. Thank you very much for an enlightening and stimulating presentation.
      Given a complex problem, you have a rare and enviable ability to find a simple solution. It is delightful to see how your mind works on new ideas. Thank you for the enthusiasm you add to the team. You are a great contributor. We hope you will be inspiring us with your innovative thinking for years to come

      • socalbeachdude

        Thanks for the kind and wonderful words! You are most welcome. The more we all know the more we can learn and actually understand what is going on in the US and global economies and hopefully use that to start fixing the vast problems.

  • socalbeachdude
  • Reality

    well I’ll be…didn’t pass and didn’t crash a 1000 points to boot! Go figure eh?! Nothing to see here folks; just more fear porn….now move along.

    • ALWAYSTOMORROW

      60 points is kind of close to 1000.

      • Reality

        LMAO!!!!

  • socalbeachdude

    ‘They own Obamacare!’: Trump lashes out at Dems after centerpiece health reform collapses in GOP vote fiasco and predicts they’ll crawl back ‘when it explodes – which it will soon’

    Donald Trump told Paul Ryan to dramatically call off a planned vote on repealing and replacing Obamcare just minutes before it was supposed to happen on Friday afternoon.

    He told the House Speaker to ditch the Republican flagship after Ryan rushed to the White House to warn he did not have enough votes to get it approved by the House.

    This realization for the President and the Speaker came after conservative Republicans refused to give the bill their backing – and left Sean Spicer looking ridiculous for using his briefing to proclaim the vote would go ahead. Ryan’s position appears safe for now with the president being asked if he should keep his job and saying: ‘Yes.’ But the defeat at the hands of the Freedom Caucus, the ultra-conservative wing of the GOP in the House means Trump’s first promised piece of legislation is dead for now.

    http://www.dailymail.co.uk/news/article-4347068/House-Speaker-Ryan-yanks-Obamacare-repeal-vote.html

    • GSOB

      The government owes 2.7 trillion to social security. This is a battle to stay afloat on a sinking ship.

  • socalbeachdude

    Major indexes fall, Nasdaq turns negative

    http://www.cnbc.com/2017/03/24/us-markets.html

  • socalbeachdude
  • Dan Wingert

    The speculators will continue to bid up stock prices.

  • James Staten

    Our Government is a “Two-Headed Snake” and anything with two heads is a Freak!!!!

  • LIZ THE SHIZ

    it didn’t happen= FAKE NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!

  • FirstGarden

    Trump Wars

    The Swamp Fights Back

    Return Of The Constitutionalists

  • socalbeachdude

    There will never be any “one payer” system and that would cost each family MORE THAN $25,000 a year.

    • e.g.

      That is ridiculously high. Obamacare was close to it besides. Get rid of insurance companies and all their waste and profits and it is very possible for it to be successful if need be. It would essentially amount to medicare for all, which has held costs to a reasonable level for years.

      • socalbeachdude

        Insurance companies in the medical expense line of insurance have been the BIGGEST FACTORS HOLDING DOWN COSTS. I would suggest you learn about how the insurance industry operates.

        Medicare has been the BIGGEST FEDERAL GOVERNMENT BOONDOGGLE in history and its costs continue to explode to absurdly high levels and now consume more than 27% of all federal government spending.

  • Tatiana Covington

    Why bother with the boresome repeal? Just break it.

  • durango

    I can’t understand the objection that Americans have to free health care. Every other advanced country in the world has it but Americans would rather see people go sick than have that big bogeyman called socialised medicine. So many object to abortion (I object to it too) but have no problem in allowing people to be sick and die because they can’t afford to be treated. Any other country would feel ashamed of themselves.

    Two years ago I had a heart attack in Australia and spent six days in hospital, two days in intensive care. I don’t know what the bill came to because I never saw it. It didn’t cost me anything. Poor quality? I had s ward all to myself. If other countries can afford it why can’t America?

    I’d like to see a change of heart in America where people are worth more than just the money they have.

    • Mr.Cipher

      Aulstrailia doesn’t have endless hordes of free-loaders flooding across its borders. There is no statue and sign that says “give us your poor.” The US should ship its poor to Australia since they are so warm hearted. But your Country wouldn’t take them in and offer welfare so you can take your self righteous BS and shove it.

      Nothing is free.

      • durango

        Australia has taken huge numbers of refugees and so has Europe. Medical care is still free in all these countries. All receive welfare and free education as well.

        Free health care never existed in your country, even before the flood of refugees. It seems to be an ideological thing – people must pay.

        Medical care is paid for through taxes according to a person’s ability to pay and it used by everyone, poor or rich.

        • Mr.Cipher

          “Australia has taken huge numbers of refugees and so has Europe.”

          Nowhere near the numbers American has taken in.

        • JC Teecher

          Australia doesn’t give billions of taxpayer funds away every year to foreign countries and the bloated evil empire known as the United Nations.

          Australia took the gun owners rights to defend themselves and threw it in the trash.

          Would you give up your gun rights to have free healthcare?
          Is free healthcare a right or should it be an option for poor people?

          • durango

            I don’t know about any particular year, but Australia, per capita, is the biggest aid giver in the world, and it is unique in that the aid is given without strings attached. The recipient doesn’t even have to spend it by buying from Australia.

            But this isn’t about Australia good, America bad. There are lots of things wrong in Australia and lots of things right about America. I think America is great. This is the reason I don’t like to see America with an ideological attachment to capitalism as far as health care goes. It hurts people.

            Yes, I too disagree with Australia’s gun laws. However I will say that there are more guns in Australia now than there have ever been. The lefties are crying about it.

          • socalbeachdude

            Australia is a financial wreckage.

          • durango

            Australia in financial wreckage?? It’s the first I’ve heard of it. Low unemployment, high wages, etc. If Australian employers paid the low wages Americans are expected to work for they’d finish up in jail. The minimum wage here is $16 an hour, plus superannuation. $400 a week old age pensions, unemployment cheques that never expire.
            If you get sick I don’t think you’d be worried about who’s responsibility it is to fund health care, you’d just want to get better.

          • socalbeachdude

            Australia is a catastrophic financial wreckage that is getting vastly worse with every passing day and will experience one of the largest financial crashes in the world when it all comes tumbling down.

          • CASTIEL

            Australia???? what a moron…….

          • socalbeachdude

            I’d suggest you learn about Australia, dude. It’s the place DOWN UNDER in many more ways that just one!

          • Realist

            How’s the troll pay?

          • CASTIEL

            How about you go f#ck yourself????.You are the one who supports a troll

          • Gay Veteran

            “Australia doesn’t give billions of taxpayer funds away every year to foreign countries….”

            like Israel

        • socalbeachdude

          Extremely high TAXES ARE CHARGED to pay for those “free” services. NOTHING IS EVER “FREE” at all ever. Moreover, medical expense costs are NOT THE RESPONSIBILITY OF THE FEDERAL GOVERNMENT NOR SHOULD THEY BE.

    • socalbeachdude

      There is no such thing as “FREE HEALTH CARE” and having the federal government provide it ONLY MAKES IT VASTLY MORE EXPENSIVE TO THE TAXPAYERS. It would cost around $25,000 per family for the federal government to provide you “free” health coverage and unless you’re willing to pay that for it then that certainly won’t be happening.

      • durango

        $25,000?????
        You’ve seriously got a medical class who are ripping off the system if that is the case. Is this made up of $100 aspirins in hospitals, and $5000 x-rays?
        You need to start flushing these racketeers out of the medical system if that is the case.

        • socalbeachdude

          Yes, that is certainly the biggest – and most difficult – job that needs to be accomplished ASAP.

  • Ricardo

    >This has no application to this subject. If you break an arm, you cant fish.<

    You can always cast for a fish. ..(hope you have a sense of humour).

  • Scarlet Redbone

    Obamacare was set up for the American people to foot the bill for illegals and Muslim refugees. Extortion.

    Designed by the illegal Muslim himself.

    • Mr.Cipher

      Turns out that cheap labor flooding across the border ain’t so cheap.

  • Louis Sartor

    Any health care plan that involves insurance companies that act as a middle man and siphons profits is a loser for most consumers.

    It’s time the USA joins the rest of the industrialized world and implement a single payer plan. It’s more cost efficient and effective than either the ACA or that poor excuse of a bill that Ryan and Trump tried to shove down the throats of the American public.

    • socalbeachdude

      False. Obviously you have no comprehension at all as what insurance companies even do and in the case of medical expense insurance companies they have been the PRIMARY FACTOR IN LOWERING MEDICAL EXPENSES COSTS FOR THEIR INSUREDS.

      There will certainly be no “single payer” nonsense in the US unless you and every other family wants to and can afford to pay around $25,000 per year for it.

      • Louis Sartor

        Thanks for the comment. I’ve seen your earlier comments and was waiting for you to say something. I guess we have to disagree.

        You are free to live in alt-reality.

        Have a great day!

        • socalbeachdude

          Nope, that would be YOU who just doesn’t get it at all when it comes to insurance and your nutty notions would even further bankrupt the USA which is already $20 trillion in debt at just the federal government level which is worsening by more than $1 trillion a year.

          • Louis Sartor

            Great to hear from you.

            Hope all is well.

            We just disagree on this. Nothing personal. I will not insult you.

            If the USA scales back its military spending and declines to fight foolish wars then perhaps we can repair the budget. Mr Bush and Mr Obama both were very reckless with our tax dollars.

            Take care.

          • socalbeachdude

            I don’t know how many times it has to be said that the US military budget only accounts for 16% of federal government spending whereas Medicare accounts for more than 27% of federal government spending as it is today. What needs to be done is for the US government to TOTALLY GET OUT OF THE MEDICAL EXPENSE ISSUES and turn the whole thing over to the private sector as that is none of the business whatsoever of the federal government.

          • Louis Sartor

            Again we must disagree. Oh well.

            The military budget is 57% of the discretionary budget. Excessive by any measure. A lot of it is pork.

            What needs to be done is to remove the insurance companies from health care. They are only concerned about profits. Good for them, bad for us.

            I am close to the age where I will qualify for Medicare and I am very happy about that. Medicare for All!

            Mr Trump promised numerous times in his colorful campaign that he was going to provide health care for everyone and it would be less expensive and better than what we now have. Perhaps he was a secret supporter of single payer and didn’t even know it.

            I am not a fan of the ACA because it was a Heritage Foundation plan implemented by a Republican governor in Massachusetts. It has many flaws. You and I probably agree on that.

            That sounds a good place to end my comment.

          • socalbeachdude

            The military budget for the USA including its “wars” is only 16% o the total annual federal government spending.

            Medicare spending alone -leaving aside Medicaid which is shared with states – is 27% of annual federal government spending. What needs cut back very significantly are Medicare and Medicaid spending which are growing explosively and the biggest reason behind the $1+ trillion a year federal government deficit.

            Medical expense insurance companies have less than 4% profits and all who agreed to participate in the ObamaScare catastrophe have lost huge amounts of money on it which is why most all of them are entirely withdrawing from those markets.

            Medical expense insurance is certainly NOT going to be “proved for everyone” at all by the federal government which needs to get out of that entirely.

          • Spatial Memory

            Your mypoic homespun guesswork obviously excludes FISCAL MULTIPLIER effects.

            Put your head back in the sand.

          • socalbeachdude

            Your extreme stupidity is truly getting very embarrassing for YOU! Pitiful Pathetic.

          • Spatial Memory

            May appear so in your world however to any with formal education and/or experience you’ve PROVEN yourself CLUELESS beyond ANY DOUBT whatsoever and provide excellent capital markets related comedy as markets CONFIRM that daily. ROFL

          • socalbeachdude

            I have plenty of “formal education” but apparently from your comments you never even completed a single community college course and perhaps never even completed HS or got a GECD! Just how else could you possibly be so ignorant and utterly clueless?

          • socalbeachdude

            Dopes with no understanding for proper accounting like you are the reason why the federal government is now in debt to the tune of $20 trillion which is growing by more than $1 trillion a year.

          • Spatial Memory

            Dopes and rubes CONTINUOUSLY OBSESSIVELY regurgitate inaccurate media spin doctor and carnival barker NONSENSE.

            Any that comprehend “proper accounting” recognize the aggregate numbers include substantially more off balance sheet and reinsured items. The ridiculously inaccurate thresholds your repertoire OBSESSES over daily were exceeded DECADES ago.

            Recognizing the buyer of last resorts maintaining and backstopping a multi quadrillion notional ‘dollar’ derivatives ‘markets’ makes your myopic GUESSWORK even more comical as capital markets PROVE each HORRENDOUSLY INACCURATE

            Put your head back in the sand.

          • socalbeachdude

            Thank you yet again for so very perfectly describing your mindless cluelessness!!!

          • Louis Sartor

            You make some good points.

            As I’ve said we should scale back military spending because that adds little or nothing to the well being of most Americans. I do support a well funded, well trained, well equipped Coast Guard and Border Patrol.

            Investing in the health of the American people should be one of the most important priorities of the federal government.

            We have a crisis with over half of the American people working for wages that are very low. We have another crisis in which significant numbers of people have dropped out of the labor markets altogether. We have large numbers of children who receive inadequate medical care.

            Meanwhile we have the top 1% who are living like royalty. They should be taxed to ensure that all Americans can receive a minimal level of acceptable health care.

            If you are in the 1% then I totally get why you would hate this idea. Cheers!

          • socalbeachdude

            Medical expense costs are never in any way an “investment” but rather just a total CONSUMPTIVE WASTE OF MONEY.

          • Louis Sartor

            Surprise! We disagree.

          • socalbeachdude

            Military spending is on the ONLY THINGS THE FEDERAL GOVERNMENT MUST DO and is certainly not part of “discretionary” spending at all.

          • Louis Sartor

            You and I live in such completely different worlds it’s pretty amazing we can even communicate. I know where you are coming from and respect it. I just don’t agree.

            I once lived in southern California: San Diego, Oceanside and San Clemente. Beautiful but pricey.

          • Spatial Memory

            No matter how many times your repertoire includes such myopic homespun guesswork excluding the FISCAL MULTIPLIER effects as well as broad based ignorance of most accounting and banking and finance REALITY the parody as all economic and capital markets benchmarks PROVE and provide priceless comedy.

          • socalbeachdude

            Obviously – to anyone with even a modicum of intelligence – cutting federal spending will result in a ripple affect throughout the economy but cutting the federal spending is the ONLY ANSWER to the out of control federal debt and deficit issues.

            Much of the “economic growth” that has occurred in the US over the past 40 years is just BOGUS ECONOMIC GROWTH AT THE COST OF MASSIVE DEBT with that debt now in excess of $67 trillion in the US and it is time for that merry-go-round to stop and the economy to shrink. Whether the federal government does that proactively or whether it simply all comes crashing down on its own is really the only issue.

          • Spatial Memory

            Are you modifying your HORRENDOUSLY INACCURATE repertoire from $20 Trillion aggregate debt to $67 Trillion aggregate?

            The merry go round and all comes crashing down only issue ahead – ROFL

          • socalbeachdude

            The federal government owes less than one-third of the more than $67 trillion of aggregate debt outstanding in the USA. Are you really not aware as to those actual number of debt outstanding in the US? Really? Seriously?

  • socalbeachdude
  • socalbeachdude

    The core principles of insurance are based on the RISK OF LOSS and the LAW OF LARGE NUMBERS in order to develop actuarily sound premiums that are affordable while maintaining solvency (and hopefully profitability) for the insurance companies that offer coverages. In order for those principles to be achieved there MUST BE SOUND UNDERWRITING AND EXCLUSION OF GUARANTEED AND CATASTROPHIC LOSSES or else insurance premiums would not be affordable and insurance companies would not be able to MAINTAIN SOLVENCY as they are required to do by all state laws which regulate all classes of insurance.

    The ACA violates the core principles of insurance which would result in extreme ADVERSE RISK SELECTION where those with guaranteed losses flock to obtain coverages which would very rapidly render all medical expense insurers INSOLVENT.

    The ACA is really just a COST SHIFTING MECHANISM from those with losses to a third party. If that third party were the US government, then that would be a different story. Unlike the federal government, insurance companies are NOT A BOTTOMLESS PIT OF LOSSES and cannot be for a variety of reasons, not the least of which is that they are not allowed to be by state laws regulating insurance companies which require SOLVENCY at all times.

    This Atrocious Care Act nonsense is the biggest boondoggle in US government history and will not survive for a huge variety of reasons.

    There is no way that the ACA can remain. The Achilles heal is the the MASSIVE LOSSES IMPOSED ON MEDICAL EXPENSE INSURERS who cannot and will not continue to offer medical expense coverages. I think that was the intent in the first place in order to force a “single payer system” and drive the medical expense insurers totally out of business. The only other explanation would be TOTAL IGNORANCE OF INSURANCE PRINCIPLES by those who wrote the legislation. Either way, the result of NO MEDICAL INSURANCE AVAILABLE will rapidly be the same.

    Insurance companies that offer medical expenses coverages are the BIGGEST LOSERS with this debacle and will soon be WITHDRAWING ANY AND ALL MEDICAL EXPENSE COVERAGES FROM THE MARKET and shutting down medical expense insurance operations as they will be have no choice but to do so as they would be RENDERED INSOLVENT if they continued to offer coverages.

  • socalbeachdude

    ‘ObamaCare will explode’: Humiliated Trump tweets ‘do not worry’ and vows a new healthcare plan will be ‘pieced together’ after vote fiascp

    President Donald Trump has said ObamaCare ‘will explode’ and a new healthcare plan will eventually be pieced together after House Republicans were forced to cancel a vote on their bill.

    ‘ObamaCare will explode and we will all get together and piece together a great healthcare plan for THE PEOPLE. Do not worry!’ he tweeted Saturday morning.

    The reaction came hours after House Republicans decided to cancel a vote on a bill to repeal and replace Obamacare – one of Trump’s major campaign promises – on Friday. Although it was GOP infighting that caused the legislative crisis, Trump blamed the Democrats after the vote fiasco, warning the opposition party that they will continue to ‘own Obamacare’ as it spins in a death spiral.

    http://www.dailymail.co.uk/news/article-4348760/Trump-says-new-healthcare-plan-pieced-together.html

  • Jill

    If the stock market plunges, it will be because investors have finally gotten spooked by a market where plausible valuations have been thrown out the window and not thanks to the failure of Congress in passing a very bad law. Gloom and doom scenarios based on one bill is just fear mongering.

  • socalbeachdude

    Now that we’ve thrown the rug over the catastrophic medical expense mess in the US, the next thing up on the agenda is the federal budget and huge and growing $1+ trillion a year federal deficits.

    JUST CUT THE SPENDING BY 20% ACROSS THE BOARD.

    • Spatial Memory

      Rubes spun by media spin regurgitate such ABSURD NONSENSE of topline data excluding FISCAL MULTIPLIER effects.

      MARKETS, bulge bracket, etc key on output gap and balance of payments effects. Scat rookie. ROFL

      Put your head back in the sand.

      • socalbeachdude

        You really a hopelessly clueless delusional based on your utterly nonsensical comments! It appears that your favor words now are “fiscal multiplier” and “bulge brackets” which are meaningless mumbo jumbo when it comes to financial realities as expressed on general ledger balance sheets which are looking more HIDEOUS THAN EVER with revenues declining across all levels of the economy.

        • Spatial Memory

          In accounting there are several financial documents used to track a company’s transactions and overall financial health. The general ledger and the balance sheet are two of the central documents in a company’s accounting process. Although they include similar information, the general ledger and the balance sheet are not the same. Their purpose is separate and the methods of recording information in each are different.

          Continue to PROVE beyond doubt whatsoever how PATHETICALLY incorrect your homespun guesswork and delusions.

          ROFL

          ….meaningless mumbo jumbo when it comes to financial realities as expressed on general ledger balance sheets which….

          Rotflmao

          • socalbeachdude

            Your extreme and utter ignorance just NEVER ceases to amuse and amaze. A general ledger balance sheet is just one of the many reports than can be easily produced at the click of a key from proper general ledger accounting.

          • Spatial Memory

            Educate yourself. No matter how many times you REPEATEDLY type INCORRECT ridiculous GUESSWORK will not make it accurate- it only provides ADDITIONAL PROOF how uneducated and pathological.

          • socalbeachdude

            Oh, your dumb thang! Were you just born stupid and ignorant and never learned anything or is there some other excuse for your extreme ignorance?

  • socalbeachdude

    GLOBAL DEFLATIONARY SPIRAL INTENSIFIES…

    Opec out of moves as Goldman Sachs expects another oil glut

    http://oilprice.com/Energy/Energy-General/OPEC-Out-Of-Moves-As-Goldman-Sachs-Expects-Another-Oil-Glut-In-2018.html

  • JC Teecher
    • JC Teecher

      We the people that are paying attention knew it already, but this is proof. And, WOW, what proof from an insider.

      • mtntrek3

        My wife and I were laughing at the headlines from recent, or supposedly recent revelations that our government agencies can spy on others through their tv sets/phones/etc.. …… It’s common knowledge to my wife and I….. along with many others out here in the country and the world for that matter. We’ve heard of this for the past twelve years or so.

        • socalbeachdude

          Yep, Chris.

    • mtntrek3

      To me Donald wants to make this a political football. Well, the thing is we’re all listened in on. All of us. Especially since 911. W. helped bring about the Patriot act, which to me should be named the Communist act.

      • socalbeachdude

        You probably know that the PATRIOT Act (it is an acronym) was written WELL-PRIOR to the crimes that were committed in the US on September 11, 2001 and those crimes were merely used an excuse to enact the PATRIOT Act.

        • mtntrek3

          911 is an inside job. …………

          • socalbeachdude

            Sorry to say, but that is absolutely correct and that is the big picture of what we need to clean up in our country.

            911Truth.org & WTC7.net

          • mtntrek3

            Yes, I’ve read several sources on the subject. It was all suspect to me from the moment it happened.

          • mtntrek3

            Goes back to; I love my country, but fear my government.

        • mtntrek3

          I’ve heard that before. ……… The powers that be are pushing for their agendas and ever more so as time grows short.

          • socalbeachdude

            Yep, once again 100% correct.

  • socalbeachdude

    Angry over US healthcare fail, Trump voters spare him blame

    http://www.reuters.com/article/us-usa-obamacare-trump-supporters-idUSKBN16X005

  • max gon

    So far, everything in Washington is still under the control of the neocons. Trump is nothing else, but another neocons puppet.

  • mtntrek3

    How do we get costs down? Hospital/pharmaceutical costs…… . ? That is the first thing that needs done.

    • socalbeachdude

      A+++, Chris. 100% correct.

  • socalbeachdude

    Weekly Commentary: Credit Bubble Bulletin, Doug Noland

    Market focus this week turned to troubled healthcare legislation, with the GOP Friday pulling the vote on the repeal of Obamacare. This “Republican Catastrophe” (Drudge ran with a Hindenburg photo) provided a timely reminder that Grand Old Party control over the presidency and both houses of congress doesn’t make it any easier to come to a consensus for governing a deeply-divided country.

    The reality is that it’s a highly fractious world, nation, Washington and Republican party – and the election made it only more so. Perhaps Monday’s sell-off was an indication that reality has begun to seep back into the marketplace. If repealing Obamacare is tough, just wait for tax reform and the debt limit.

    http://creditbubblebulletin.blogspot.com/2017/03/weekly-commentary-discussions-on-fed-put.html

  • socalbeachdude

    Pension crisis too big for markets to ignore – Bloomberg

    In late 2006, Aaron Krowne, a computer scientist and mathematician, started a website that documented the real-time destruction of the subprime mortgage lending industry. The Mortgage Lender Implode-O-Meter caught on like wildfire with financial market voyeurs, regularly reaching 100,000 visitors. West Coast lenders, some may recall, were the first to fall in what eventually totaled 388 casualties.

    A year earlier, to much less fanfare, Jack Dean launched another website in anticipation of the different kind of wave washing up on the California coastline. Called the Pension Tsunami, the website was originally conceived to provide Golden State taxpayers with a one-stop resource to track news stories on the state’s mammoth and numerous underfunded public pensions.

    Dean came about his inspiration honestly: “I started tracking this issue in 2004 after the Orange County Board of Supervisors gave a retroactive pension formula increase of 62 percent to county employees,” he said. “I was stunned. It’s the main reason Orange County has a $4.5 billion underfunded liability today.”

    As the years have passed, though, the site has become a font of information for states and municipalities nationwide as well as corporate pensions. In all, over 40,000 headlines have been posted to the website to date.

    https://www.bloomberg.com/view/articles/2017-03-24/pension-crisis-too-big-for-markets-to-ignore

  • socalbeachdude
  • socalbeachdude

    Message sent, Donald? Fox News’s Judge Jeanine calls on Paul Ryan to step down as House Speaker hours after President tells his Twitter followers to tune in

    A Fox News commentator known for her avowedly pro-Trump views called on House Speaker Paul Ryan to step down on Saturday for the Republican health care debacle.

    Jeanine Pirro, the right-leaning cable channel’s legal analyst and former judge and prosecutor, began her weekly Justice with Judge Jenine Pirro show on Saturday evening with a 10-minute monologue blasting Ryan for ‘complete and total failure’ in getting Republican House members to support the repeal of Obamacare.

    Pirro said Ryan must shoulder the blame, not President Donald Trump, because the Wisconsin congressman has more experience in politics than ‘the outsider’ Trump.

    http://www.dailymail.co.uk/news/article-4349524/Trump-plugs-Fox-said-new-Obama-wiretap-info.html

  • mtntrek3

    We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New Word Order. David Rockefeller. 1994.

    • socalbeachdude

      Nope. By the way, David passed away this week at 101 years of age.

      David Rockefeller dead at 101: World’s oldest billionaire and last surviving grandchild of Standard Oil founder John D. Rockefeller passes away at his New York home

      http://www.dailymail.co.uk/news/article-4331804/Billionaire-philanthropist-David-Rockefeller-dies-age-101.html

      • mtntrek3

        He didn’t say that? …….

        • socalbeachdude

          It doesn’t really matter much what David said now that he dead, does it? The whole NWO thing he was so much behind is also dying and will soon be dead and buried all around the world.

          • mtntrek3

            …….. think again please. …..

          • Spatial Memory

            His best thinking has him manically predicting collapses in EVERY asset class – EVERY day while many asset classes have literally broken out off the charts. ROTFLMAO

          • mtntrek3

            Lol. SBD or DR. ? Let me guess……

          • socalbeachdude

            David was a nice but very misguided man born with a silver spoon in his mouth who live to be 101 years old and then croaked just the other day. Unfortunately for David, most people don’t even know who he was nor could they care in the least.

          • Spatial Memory

            Unlike you, misguided with near zero in assets ROFL

          • mtntrek3

            Awwww. : ( Cruel. Lol. … : ) Seriously, be thankful for what you have. It can disappear quickly. Just saying . Take care.

          • Spatial Memory

            If you want to see assets disappear quickly then try one of socluelessbeach predictions- by FAR the WORST predictions I’ve seen EVER.

            His antics are most likely permitted as they’re the ONLY ones more ABSURD than those foisted in the “stories”.
            ROFL

          • mtntrek3

            Noted. : ). I know. ……. I’m concerned for all of us. : ). Take care. Chris.

          • socalbeachdude

            Laughably false.

          • socalbeachdude

            False, and how would you have even the slightest bit of an idea as to that?

          • Spatial Memory

            Men and women range themselves into three classes or orders of intelligence; you can tell the lowest class by their habit of always talking about persons; the next by the fact that their habit is always to converse about things; the highest by their preference for the discussion of ideas

          • mtntrek3

            Much truth to what you say indeed. : ) .

          • socalbeachdude

            What utter nonsense, dude!

          • mtntrek3

            Back off, I want to hear from Spatial Memory please.

          • socalbeachdude

            OK…!!!

          • mtntrek3

            You take care also SBD. ……. Concerned for all of us . ……..

          • mtntrek3

            : ) . Let’s back up here. Lol. A clarification may be in order.

          • mtntrek3

            Not to be a smartass, but asking? Maybe I didn’t hear what you said correctly. I’m just asking. …… I originally quoted D.R. What do you say about him?

          • mtntrek3

            Oh well…. Take care Spatial memory and SBD. SBD, seriously……… . … Smh. And on we go. : ) .

          • Spatial Memory

            You too. Take care. Have a great day. 🙂

          • mtntrek3

            : ) .

          • mtntrek3

            Many things matter as to what one has said and done after one has already passed on from this world………. for the better or worse.

          • socalbeachdude

            David is IRRELEVANT now that old codger has passed away. It will be interesting to see if James and Nicky Hilton Rockefeller even bother to attend his funeral.

          • mtntrek3

            Noted. But as to what his statement was concerning.

          • socalbeachdude

            Why?

          • Spatial Memory

            Ain’t ignorance blissful. Put your head back in the sand.

          • socalbeachdude

            Well, you certainly should know since you are the absolute expert in IGNORANCE!

      • mtntrek3

        The date in which he said it. …… I know he already passed on.

    • JC Teecher

      DF was the epitome of a liberal. Wealthy and power hungry, which makes them all….”agents” of Satan.

      They speak as though they have the final say on how this country is operated, and it is not by God or by the USA Constitution, which was framed and written based on God’s laws and statutes.

      Satan was given authority to operate within the confines of the spirit world during the age of flesh man…after flesh man Adam allowed his wife to disobey God/Creator and was beguiled by the Tree of Knowledge of Good and Evil…aka Lucifer/Satan.

      To make matters worse, she influenced her man Adam to partake of the fruit of Satan as well.
      Did Satan morph into a female, as he morphed into a flying serpent to beguile Eve, and corrupt Adam?
      Or did he show his full natural human looking form to Adam, and then copulated with him into a homosexual act?
      We don’t know for sure and the scripture leaves this up to individual interpretation, but sexual acts were performed by Satan, as Adam and Eve saw their nakedness and sin, and covered their sex organs with Fig leaves.
      This was all the proof God needed, but nine months later, Eve gave birth to Satan’s offspring as her first born Cain, and continued in labor to give birth to Adam’s son Abel. Twins by different father’s.
      Everyone knows what transpired after that.

      • mtntrek3

        …… My wife and I were just looking over your response. She’s more learned than I concerning the Scriptures. Basically, I say we’ve messed up and are suffering the consequences to this day in a nutshell. And to the liberal or conservative aspect of it all….. myself, I see answers from both sides of the aisle. The left more faulty in certain regards I agree. ……. I position myself somewhat to the left of center politically. I relate to both sides of the political aisle. If that makes me the devil…. I must live with it. : ) . … Of course we both know that our ways as mankind are at best flawed and failing. Our faith in Christ is first and foremost. I’ll have my wife get back with you and you two can share your beliefs, observations and concerns. More interesting and instructive conversations. God Bless JCT. : – ) . Chris

        • JC Teecher

          thanks.

          • mtntrek3

            Hey there JCT, I’ve got an unspoken prayer request for myself…… . If you would when you pray, please include me. I’ll continue to pray for you and all of us. Thanks brother. : ) . God Bless. Chris.

      • mtntrek3

        May I interject ……. the wealthy and power hungry don’t always apply entirely to the liberal side of the aisle. One can find such from either side. Just an observation. Take care again. Chris.

        • JC Teecher

          Please understand; i do not make the assertion that liberals are only on the left side of the isle.

          Wolves in sheep clothing applies.

          • mtntrek3

            Sin knows no boundaries. Black, white, men,women, rich, poor, educated, uneducated, right, left, ……. . We that are children of God know that already of course. Take care JCT. : ).

      • Carl

        Exactly what scripture are you getting this from? Chapter and verse please. Or did your preacher just make this up in bible study?

        • JC Teecher

          the Holy Spirit is my preacher/teacher.
          but what would an atheist like you know about that?

          • Carl

            OK now you are just talking crazy. Just because you hear voices in your head does not mean you should listen to them.

          • Gay Veteran

            hearing things, eh
            get back on your meds

      • socalbeachdude

        Huh? Where do you come up with such nonsense?

    • socalbeachdude

      What we are seeing is the Rockefeller inspired “NWO” completely falling apart at the seams and that fate is sealed now that David is dead as of last week.

      • mtntrek3

        Good info, but the thing is D.R. isn’t the only individual/entity pushing for the NWO. …. One day the antichrist will rule the world for a short time through the one world order. It’ll be hell on earth according to the Bible. Unless those times be shortened, no one would survive. Faith in Christ is the Way. : ). Chris.

  • socalbeachdude

    Rand Paul takes victory lap on GOP health bill

    Sen. Rand Paul (R-Ky.) quickly declared victory on Friday, praising conservatives for “standing up against ObamaCare Lite.”

    “I applaud House conservatives for keeping their word to the American people,” Paul said in a statement.

    Republican leaders pulled their bill to repeal and replace ObamaCare on Friday afternoon, acknowledging that it was headed toward defeat.

    Paul — who has been a top antagonist of the House bill — added that “I look forward to passing full repeal of ObamaCare in the very near future.”

    http://thehill.com/blogs/floor-action/senate/325702-rand-paul-takes-victory-lap-on-gop-health-bill

  • socalbeachdude

    Trumpcare Postmortems – Stephen Lendman

    House failure to pass Trumpcare wasn’t an administration Waterloo, but it complicates its plans for tax cuts, infrastructure spending and other issues. Healthcare savings by repealing and replacing Obamacare were counted on to help finance Trump’s other major programs. Friday’s defeat cost him political capital and momentum. His touted dealmaking prowess failed its first major test.

    What’s ahead won’t get easier. His legislative agenda sustained a major body blow. Plans called for repealing and replacing Obamacare, followed by comprehensive tax reform (largely benefitting business and privileged elites), then creation of a $1 trillion infrastructure program, a thinly veiled privatization scheme. Things aren’t going as planned. Trumpcare’s defeat complicates things.

    http://rense.com/general96/postmortems.htm#sthash.Fpkh6nXd.dpuf

  • socalbeachdude

    If I were Donald Trump, I’d start by addressing the core problems in the medical industry which are massive and egregious price gouging by the hospital and pharmaceutical industries and apply apply maximums they can charge for their services limited to about 20% of what they are currently charging for hospital and pharmaceutical products. That is the core as to why medical expenses are what they are in the US and why they are vastly higher than they are in other countries.

    It is not the doctors who are overcharging, and many doctors are being driven out of business by the absurd medical malpractice premiums they are forced to pay which is now nearly as much as many even make on an annual basis. I would eliminate medical malpractice lawsuits entirely and instead create a 3 strikes you’re out approach to any issues of medical practice for doctors so they wouldn’t be allowed to practice after 3 egregious malpractice situations.

    I would also push for medical schools to educate about 3 times as many doctors as are presently being educated in the US to make medical services much more available around the country. There are currently (and that has been the case for 40 years) 3 times as many students in law schools in the US as there are in medical schools in the US. The US government should choose to educate doctors at no charge for tuition in exchange for 10 years of part time community charity service at no charge to patients.

    There are many intelligent and innovative ways to deal with the issues of costs in the system.

    As to pharmaceuticals I would get rid of Medicare Part D and instead institute the VA methods for limiting drug costs which lower the costs to patients by 93% so they only pay 7% of the costs being charged in the market for pharmaceuticals who are the most egregious price gougers of anyone in the entire medical industry.

  • socalbeachdude

    Dow futures slide more than 150 points as doubts over Trump’s agenda build

    U.S. stock futures pointed to sharp losses at the open on Monday, as investors reassessed President Donald Trump’s ambitious pro-growth agenda after his failure to push through a health-care bill last week.

    Dow Jones Industrial Average futures YMM7, -0.80% slid 168 points, or 0.8%, to 20,407, while S&P 500 futures ESM7, -0.98% dropped 23.30 points, or 0.9%, to 2,321.75. Nasdaq-100 futures NQM7, -0.98% fell 53 points, or 0.7%, to 5,325.25.

    “Indeed, financial markets seem increasingly skeptical that Trump will be able to deliver on the many promises that fueled the S&P [to] a peak of close to 2,400 in early March. This will place the emphasis on the economic data, at least until the next debate in Washington is more advanced,” said Michala Marcussen, global head of economics at Société Générale, in a note to clients.

    http://www.marketwatch.com/story/dow-futures-slide-more-than-150-points-as-doubts-over-trumps-agenda-build-2017-03-27

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