Obama Care-Economy Can’t Survive It-Rick Ackerman
By Greg Hunter’s USAWatchdog.com
Trader and forecaster Rick Ackerman says, “As far as the Fed getting off the easing regimen, it’s not possible . . . You’d kill the system right now. There’s no way out, and although we put off the day of reckoning, it can’t be put off indefinitely.” Obama Care is one of the biggest headwinds facing the economy. Ackerman says, “January 1st, everybody is going to get socked with at least a 30% increase in their insurance premiums . . . Obama Care is the worst bill ever . . . I don’t see how the economy can survive it.” Ackerman does not believe gold prices will skyrocket but contends, “One thing I have always been absolutely confident about is that gold, relative to any other asset you can think of, will hold its purchasing power.” Ackerman fears confiscation of bank deposits and says, “All depositors everywhere should be scared for their money. Cypress should have spooked the whole world, and it did! I think it makes the likelihood of some sort of black swan event even greater.” Join Greg Hunter as he goes One-on-One with Rick Ackerman of RickAckerman.com.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
I am always curious as to a general timeline for melt down, hyper inflation, etc. I remember john williams saying. 2014 approx.
Between the crumbling economy, the ever-increasing police state and the pending full implementation of Obamacare (amongst countless other issues)- I have to ask myself why have all of you that have the possibility of doing so have not done the same as I and moved out of the country? Europe has significant problems of its own so the same goes for Europeans… I would suggest looking into becoming an expatriate in one of the more stable South American countries like I have done in Chile. For those with more limited resources, places like Ecuador where you can live well on just $1000 a month may be a better option. In any case things are deteriorating quickly and time is running short, I implore those who can to take advantage of the re-inflated U.S real estate bubble, using part of the profits to invest in Gold/Silver and the rest to ¨Get out of Dodge¨ while they still can. The world is a scarry place, God help us all…
“I have to ask myself why have all of you that have the possibility of doing so have not done the same as I and moved out of the country?”
Probably because some of us would like to pass on a America to the upcoming generations that is livable again. You either have no family left in the States or don’t care what happens to America for upcoming generations…a lot of us don’t feel that way.
I have the wherewithal to leave tomorrow if it was just based on bugging out. But I refuse to turn the country over without a fight to people who should be swinging from a lamp post. What is your life worth if you run from the country of your birth, that promised so much? I may need to make tough decisions in the near future but I will be doing it FROM THE LAND OF MY BIRTH AND NOT CHILE.
Thanks for checking out. We don’t need sunshine patriots; the Revolution had them too and We the People still won.
Every one cries out for “certainty”, and yet Bernanke elicits the opposite with his statements on QE.
The private insurance companies can now raise premiums without fear, as they can simply blame it on Obama Care.
The physical gold market has now crushed the hopes of the naked short sellers, and that’s now already apparent to everyone but CNBC.
You can’t trust anyone. I think I’ll move to Australia. – No, wait.
Great interview Greg. Rick Ackerman is dead on about Obamacare. I am directly involved with the insurance industry. Our companies are telling us 120% increases in premium next year will be common when the full mandate of Obamacare kicks in. Employers will be forced to dump their plans , pay the fine (IE tax) and send their employee’s to the exchanges for coverage. Obamacare is nothing more than a funnel into a single payer system, which I believe was the goal from the start. The American people have been lied to once again. Unfortunately they won’t be able to figure it out until its to late. By the way in addition to higher premiums, there are over 23 hidden taxes in the Obamacare bill that people will be paying. Taxes on prescription drugs, taxes on medical appliances etc. etc. etc. This will be the trigger everyone has been looking for that will start the economic collapse. Thanks again Greg for the great interview and for keeping us informed.
Thank you Jerry for adding your professional perspective here!!! Good info man!
Greg
Wow…the system is now so manipulated that it is fraud based
Greg: re RA’s observations on Obamacare: it’s interesting that this bill contains many of the bedrock notions of both fascism and marxism; wealth redistribution; state control; crony capitalism (Big Pharma, health insurors); and of course, and most important, enforcement by IRS for full compliance. Many don’t realize the full implications of IRS involvement, such as asset forfeiture, full debt enslavement and possible jail time.
AndyB,
I don’t see how this will not crush the economy in 2014. Maybe that’s the plan?
Greg
Hi Greg, — Obama wanted so-called “single payer” and ended up with a wretched compromise. It’s an ongoing political football that will be a maelstrom.
Here in Australia, we have full socialized medicine that works very well, with costs of care and medicine at about 1/2 of U.S.. I buy private health insurance for about 2K PER YEAR. The citizens are happy and feel secure with it. This, along with compulsory voting, makes the citizens feel that Australia is a well-run democracy. Combine these facts with a Parliamentary system where the winner totally RULES with a SIMPLE majority, and you’ve got a recipe for SUCCESS in governing.
That’s good to Know Justin. Thank you for the “Down Under” perspective!
Greg
Since Obamacare is now technically, by definition, a TAX (thank you, Justice Roberts), there is no limit to the degree of control and persecution, punishment and burden to which we can all be subjected. Before this is over, we would have been better off with a federally controlled, single-payer system OUTSIDE of the IRS and penal code. Obamacare is the worst nightmare possible, in that potentially it criminalizes health care. And this is the United States of America?
Nice interview with Rick – I am a member of his site….but he really never answered your question on bail-in’s…..will the gov’t confiscate accounts??? Be they bank accounts, brokerage accounts, IRA’s, etc…. This is the main question now….when the printing party stops, where can you protect yourself when the gov’t needs more money to spend??? Or are we at the mercy of the powers that be to pump up the bubble enough to make us feel that a “wealth tax” doesn’t really matter… Thanks
Always look forward to your updates…Tx Greg
Thank you Bob!
Greg
Greg: I am waiting for the movie.
When will someone do a movie / documentary
on all the changes over the last 15 years. The list would be exhaustive , and extremely hard to gather the all facts. However once done it would be a sure hit. How to compact this long list into a 9 hour documentary would take more then even Alex Jones can accomplish.
Good idea JC.
Greg
i’m curious about rick’s 30% number for obamacare. i’ve seen wildly different estimates for the cost. does anybody really know?
Great interview Greg. RA is a smart guy…
Greg-I believe you asked Rick if this fed monetization of debt could go on indefinitely, and he said ‘no’. The obvious followup would be to attempt to guess the end date, or to guess when the blow up happens.
Go to stockcharts dot com, or similar charting program, and put in symbol $wtic (w. texas crude), weekly prices and three years of range. You can see, plain as day, that the weekly price chart has formed a pennant, with lower highs and higher lows. If you extend the lines connecting the tops and bottoms, the lines would seem to intersect in about 5 months in the future. At that point, in October, oil will break up or down. I predict the direction will be up, in a huge inflation wave. Of course it would be sooner on any war in the Middle East.
I think your “sooner” scenario is going to come into play here.
Greg
It will play out like this. Banks, corporations and the wealthiest 1/10th of 1%, who use the other 0.9% of the top 1% as their lapdogs, own almost all capital assets, manmade and natural resources, the Markets, Media and our incontestably corrupted governments.
Via their buying and selling of politicians and utilization of tools like congress, courts, judges and lawyers, who are allowed far too much information and latitude, they have and will flood with legalese, invade and obfuscate all business, financial and interpersonal interactions and rape every person of their dignity, hope and privacy, or they use the Military Industrial Complex to murder them and take everything; since they own Media, the propaganda deluge that follows always and eventually pacifies the masses and dupes them into believing that there was some altruistic benefit derived. Just like the wholesale slaughter of the constitution and our privacy since 9/11.
Once they have eviscerated the constitution and its first ten amendments, the bill of rights, and gain control to the point where they can publically and with impunity, murder anyone they wish, they will continue the flood of propaganda, corruption of elections, buying and selling of multiple term politicians, seizure of power and proselytizing the almighty “free market.” Of course a free market exists only in Plato’s Plane of Ideas; the first instant that government exerted direct influence, on the first penny of market wealth, was the instantaneous death of the “free market.” Once the hard earned savings of the sheep move into the fake market, Banks, corporations and the wealthiest 1/10th of 1% will short it, eviscerate it and as it collapses make trillions off of the collapse; just like they’ve done since 2008. The tens of millions of bankruptcies and destroyed lives that follow will serve to line the pockets of their lapdogs.
So, the gargantuan flood of Media propaganda and training of the Military Industrial complex to conduct domestic operations against US citizens and on US soil will continue until the sheep buy into it and move their savings from the sidelines and into the market. Every firearm incident, every terrorist act and every possible form of misinformation will be used to convince the sheep to give up freedom, privacy, weapons and any form of protection from these heinously corrupt courts, governments, Wall Street firms, Washington and the wealthiest 1/10th of 1%.
We all need to remember that courts, governments, Wall Street and Washington and the wealthiest 1/10th of 1% are populated with some of the most corrupt and narcissistic human beings whom have every lived; they are intent of driving the earth into feudalism and reaping the benefits of total control of all resources and wealth; theirs is the realm of absolute hubris, insatiable greed and total narcissistic delusion.
At some point, as it always sadly has, horrific wars and bloody, murderous revolutions will come to be understood as the only possible solution. It is documented historical fact and a heinously grave tragedy of the human condition that once a sufficient number of people are driven down and hope destroyed to a point where they can no longer obtain food and water, they wake up and cull the insatiable morally bankrupt monsters and their lapdogs. The Patriot Act, NDAA, gun ownership legislation, massive government gun and ammunition procurements and training of the military industrial complex to conduct domestic military operations against American citizens is really all about; and we all know it is.
The real tragedy is that the highest levels of banks, corporations, Wall Street and Washington etc., are filled with incredibly depraved, hideous creatures that are surrounded by lapdogs and sycophants who are ever-present buffers, hiding the truth of their monstrosity; and the most depraved, the most despicable beasts, lurk behind the façade, hide their true visage and have always escaped the culling; waiting for their opportunity to corrupt the society that emerges from the restoration of revolution.
223.5 Metric Tons of Gold Imported into China in March
Nothing to see, move along!
Troy-What is even harder to see is the gold mined domestically, in China. 100% of that production stays in China. I believe they surpassed S. Africa, and are now the largest producer of the yellow metal.
I do not believe that ObamaCare will ever come into being as the states do not have the money. That is why we are forced to pay for it before it went into effect. There is just no way we will be able to afford this and they know it. What will be accomplished is the destruction of our medical system and a dam good one once upon a time. Doctors who can are getting out as they cannot afford this and who is replacing them .. foreign doctors. My mother has been in and out of the hospital 6 times these last two years and all but one doctor had a strong accent. The nurses and staff were also of foreign birth.
Hate to admit this but the level of care 20 years ago was better than today. Talked to older nurses and they have expressed that the new nurses today are not as well trained as they were years ago. I am in CA and this includes VA, PA, and MD. IMO and considering my conversations the level of care has suffered and this is before Obama Care. When it is no longer financially attractive what are we going to get for doctors?
I love what you guys tend to be up too. Such clever work and coverage!
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