Jun 03 2011
The Doomed Future Of Obamacare Is All But Certain
Obamacare, as with the silly left wing fantasy of ‘free’ government run health care, has an appointment with failure. Modeled after the UK’s failing National Health Service, Obamacare is guaranteed end up with the same medical disasters as the NHS:
In an article for The Daily Telegraph, Andrew Lansley says the core values of the NHS are under threat as never before from a “financial crisis” that will see annual health spending double to £230 billion a year without urgent reform.
While insisting he would never privatise the NHS, Mr Lansley warns that its future as a universal service, available to all and free at the point of use will be at risk “within years” if radical change is blocked.
Sounds eerily familiar to the financial diagnosis for Medicare – the crumbling foundation underpinning Obamacare. The pathetic and sad truth is that, despite the politician’s claim to contrary, the salvation of NHS lies on the shoulder of private health care providers in the UK (where all people with money actually get their health care).
the Health Secretary’s article will be seen as a clear reaffirmation of his belief in the reforms, which would abolish two tiers of NHS management and allow GP-led consortia to decide whether to buy treatment from local state-run hospitals or private providers.
Is anyone going to believe treatment will be most cost effective from the management and bureaucracy heavy NHS hospitals – or the free market driven private providers? The guy can pretend all day long salvation is not coming from the free market, but without the option to save costs outside the NHS there would be no salvation.
Remember, the UK is 1/5th the size of the US population, yet it is going to see it’s annual costs run at $377 230 billion. If the UK were the size of the US, that would translate into $1.88 1.15 trillion, for a program with lines months long in which people have been known to die from delayed treatment. When will people realize paying premium dollar for substandard service is not a sound judgement, in any fantasy world.
doomed future of Obamanomics is all but certain now, too.
Employment numbers are out this morning – they are disastrous.
73 of 73 major economists got it wrong – every one predicted far more optimistic numbers than came out this morning. Tells you the value of “consensus” – “consensus” 2 weeks ago was that there would be a gain of 300,000. Consensus yesterday, after some horrible early numbers showed that was way too high was 150,000.
Actual number – employment only increased by 54,000 jobs last month. Fyi, any number less than 300,000 means that real unemployment is *Increasing* due to the natural growth of the work population. Now of course we don’t know what will happen to the reported unemployment numbers – but you, AJ, have already used a couple of posts to show how badly those numbers are manipulated. (For those who don’t recall, real unemployment can go up while the reported unemployment rate can drop, since there are so many ways to spin the numbers – all for political purposes, of course)
Anyway, there is one unescapable conclusion from this morning, that everyone on Wall Street is waking up and facing:
The “Stimulus” was a total failure. $1 Trillion for nothing – we are back where we were before it was passed, sliding into recession.
Also, the Fed’s QE3 was a total failure. $600 Billion pumped into the bond market over the last year – total effect, Nothing. (except to inflate Gold, Oil, and other commodities)
The really scary part is what comes next. We just ran out of options.
Obama thought he was going to be the new Lincoln – instead, he’s going to go down as the second Herbert Hoover. And even Hoover is going to look real good by comparison.
Katyal made a strange argument before the 3-judge panel in the sixth circuit about if you’re so poor, you could be excepted from the individual mandates.
Good grief.
Think Katyal’s lost the case. At least I hope so. Unfortunately, Eric Holder will appeal if Katyal loses Obama’s case.
Look at Canada, it’s economy is improving. It supports an admixture of public and private health care insurance plans but also promotes oil drilling.
After S&P, Moody follows with similar results.
Now Matt Drudge reports 9.1 percent.
Some economist on CNBC told us two days ago that we’re in a great, great depression.
One by one, the states are starting to fight for their own rights. Texas vs TSA. Indiana vs Medicare. Arizona, Utah, South Carolina, and so on.
All states should push for “Right to work”. But too many blue states.
Maybe Obama is turning out to be the right choice and that it was God’s plan to wake us all up?
I read from Don Surber that Wall Street has all but beginning to control Obama, his adm, and Congress. He’s seeing a repeat of the 30’s where the Wall Street pretty much told Congress to raise taxes…and raise taxes…and raise taxes. Wall Street isn’t going to be interested in Congress coming up with a good budget with spending cuts.
Not good.
Not to be picky – bad is bad – but 230 billion British ounds is just under 377 billion dollars. 5 times that amount is 1.88 trillion dollars
Wall Street does NOT want more taxes – even the most rabid liberals who still are smart enough to make money know that the FDR’s tax increases of 1936 created the 1936 – 1937 “depression within the depression”, a period where the bottom really fell out of the economy and many of the Wall Street firms that had made it through 1929 – 1935 finally got wiped out.
That’s also why raising taxes can NOT solve the current situation – raising taxes at this point in the cycle guarantees that consumer spending drops, and since that is about 60% – 70% of the economy today, that guarantees Depression. For years to come.
So what does Wall Street want? What is the pressure focused on?
Wall Street wants what you will see referred to as “QE3” – more “quantitative easing”. In everyday terms, it means they want the Fed to create new money out of thin air as quickly as possible – not just hundreds of billions, but trillions. With no limit in sight.
Now will this create inflation? YES! Absolutely it will – that’s the entire point! It’s almost impossible to make money investing during a true Depression, but relatively easy to make money during Inflation, even Hyper-Inflation. That’s because you know which way prices are moving and can bet accordingly. Here’s a hint about economic history – Hyper-Inflation is never something that happens accidentally, it is *always* a choice by politicians and bankers who think they will profit personally from it.
Wall Street WANTS Hyper-Inflation. It will be very, very profitable for them. It will also destroy the country, but that doesn’t enter into the equation. All that counts is that there will be a lot of money to be made along the way, and plenty of beach property in the Caribbean to retire to when the game is up.
If the bankers and financiers have their way, that’s where we are headed.
DSCF – Thanks!
Lurker9876,
Goldman Sachs was the largest private source of campaign funds for Obama in 2008. They were the number two overall donor. Number one was University of California.
Interesting article in the NY Post today: Who will save us from this recovery?