Obama Care Will Crash If Healthy Don’t Enroll-Karl Denninger
By Greg Hunter’s USAWatchdog.com
Analyst/trader Karl Denninger says Obama Care is doomed to failure because of pre-existing conditions of many signing up for coverage. Denninger explains, “If you are an insurance company and you only sell insurance to those who have already lit their house on fire, you’re not going to be in business very long. You have to have people who buy insurance who are not likely to have fires.” As far as the Affordable Care Act, Denninger thinks, “Now we have a huge problem because the only people who are going to enroll are the people who are going to crash the system if everyone else doesn’t show up.” Denninger contends if there are not enough young healthy people signing up for Obama Care, “It will implode before the end of the year.” Denninger goes on to say, “What Congress calculated rather coldly is they could shove a gun up young people’s backs and make them fork up the money.” There are two very big problems with this, according to Denninger, “They have no reason to buy today, and the fine is insufficient motivation because it is a small fraction of the premium.” Denninger predicts, “This is not going to bring down healthcare costs. This is going to accelerate costs. This is extremely bad law.” Join Greg Hunter as he goes One–on-One with Karl Denninger of Market-Ticker.org.
Kudos to Rev. Joslin. Couldn’t have said it better. The entire reason for a single payer system (which is where we’re headed), is to “control” the sheeple. I can’t begin to tell you about my sisters and brothers who are staunch democrats and think I’m plain crazy! I pity their kids as well as my own kids and grandkids if this vile program isn’t stopped. Thank you.
@Rev & Bob H
Paranoid ranting about single payer and “controlling the sheeple” how dangerous government healthcare is, yet your complaints are about the inability to get on Medicaid…
Interesting, since Medicaid and Medicare are both government run single payer plans that cut out the corporate vultures and work very well… nailed the RW talking points though (well done).
Re Denninger… please go back to your John Galt plan (it was great while it lasted)!
Wow! It would have been great to know all these ramifications before they passed the bill. Guess thats why Pelosi and the Progressives hid it all from the unwashed masses, of course if you had anything on the ball, you knew this was coming. Thanks Greg for another fantastic show.
What can I say. Pelosi had to pass it to see what was in it. That sounds like incompetence at best and likely treason.
I agree with all his argument, the purpose of the bill is to have a single payer, they said it before it is not a secret. once you have that they will do the price rigging with the hospitals and then the penalty that is now a fraction of the cost will be doubled or tripled, it is a calculated step similar to the student loans that made the universities hike their tuitions so we end up with more kids flipping burgers rather than being doctors, which allows for importing foreigners like me to work here.
I always asked my self this question, why am here in the states when your child or Allen’s child or Galaxy 500 child…..etc should be able to have an affordable education and become a doctor himself?
and i think i know the answer.
It is to break the social fabric of this country.
In order to do that they go and make living in my country a hell, i will migrate here to fill in the spot that is supposed to be taken by your kid and you increase the percentage of foreigners in US. Nothing that can put any country under the risk of civil war worse than having the fabric disrupted.
This ACA is not about healthcare, in my opinion, but about wealth confiscation. We know that the current folks that are on welfare and the millions on ebt and million more as illegals with no valid SSN cannot pay any of the fees. Someone will have to. Guess who does.
Lets say you sign in and are also a homeowner. Later you have a heart attack and cannot pay the $750,000 bill. Your ACA coverage may be only around $250,000. Thus, there goes your home ownership.
If you have $80,000 in mutual funds and another $200,000 in Life Insurance; well kiss those goodbye too if you ever get any kind of cancer.
You see, the middle class has about $10T or so in ownership of homes, land, mutual funds, savings, life insurance, etc. Under ACA, that goes away pretty fast.
Do I have any proof? No. But I would like someone explain the thousands of pages of this law and how things are going to get paid. In last 5 years, wealth has not been created but has been getting destroyed.
There is no owning period in this country, there is no wealth period, I find it striking i got it and am a citizen of foreign origin but most Americans are under the illusion they have wealth or they own houses or cars when in reality they RENT them.
What happens if you pay fully your house and you have the deed of it and then for some reason you did not pay the property taxes for few years?
I guess we all know the answer to this question. You will be kicked out and your house, it will be put in a bid and you will get ripped off and end up in the streets, why???????
Because you are using a debt owned by a private bank called Dollar, me and you are slaves to a private bank and they own our a$$es since our dollar we purchased the house with is a debt, so no wealth there, no ownership.
What about you car if you pay it in full and lets say you pay it cash … Do you own it?
The title is sent directly from the factory to the government and you are only getting A CERTIFICATE OF THE TITLE not the title itself…. In essence you are renting your car and not owning it, there were many cases went to federal courts to get the TITLE instead of the certificate of the title and the system stonewalled it.
So the sad striking fact that we have no wealth, we own nothing here.
Obama care is like other programs about control since we have no wealth to be destroyed. We are slaves enjoying the rental toys that the private bank allowed us to play with.
Mohammad, lastman, and charlesH.
I think this may also go to many farmers that think they own their land, power, and water rights.
Dudes! Times have changed. I wish all well. Good luck.
Sounds like proof to me Ugly…What you mentioned above has been happening in the US for years.
They want it all.
It is rumored that the Medical Industry representatives themselves were the authors of most the ACA legislation, working with the aides and architects on the bill. Karl Denninger is right – the Medical Industry conspired through government to monopolize Healthcare. And the “Wealth Distribution” is more a global thing: America is destined to Third-World status. Obama has leveraged GREED, to help bring America down.
Based on the recent history of immigration policy in this country, a reasonable observer might well conclude that the underlying reason behind it is to break the social fabric of our country and foment civil war.
Previously,Americans had always welcomed those who wanted to share the blessings of liberty we had secured for ourselves and especially favored those who are were victims of tyranny or oppression. We understood that there is strength in diversity of opinion, culture and arts that results form immigration and tried to assure, at the very lest, that those wanting to immigrate shared a common interest in sustaining a spirit of personal freedom, respect for justice and just rule of law and a resolve to preserve the principle of self government as expressed through our Constitution.
Current immigration policy, however, operates primarily on a strategy based in racism. Immigrants now come in waves too numerous to assimilate and are labeled as, Mexican Americans, African Americans, Spanish Americans or other hyphenated Americans and given preference as minorities. Complaints against this state of affairs, or even of officially designating a second language as culturally desirable, is mocked and dismissed as racist sentiment. All of this, of course, leads to factional and sectional conflict which undermines the cohesiveness and sense of shared responsibility once so common in American society.
I don’t know whether you are a American citizen but only that you are enlightened, compassionate and concerned about America’s future. Thank you for being here.
Thank you frosty, yes am an American citizen and so are my family.
I lost my mother home Syria, and am praying to god to preserve my only left home United States.
The single payer won’t be the only answer. As an increasing number of doctors abandon the current medical plan it will be obvious the skills and expertise will migrate to those who will either pay in cash or be able to secure the doctor’s services via another highly sought after commodity. Those who wish to play the government’s game will be the uninformed, the poor and the disenfranchised. This will create a system of the freebooters or the free loaders. I personally like the chances of the freebooters myself.
The real damage is already the lack of professionals that will just escalate when this Obama care with EMR and national ID card kicks fully in.
A hint to what am saying:
Have you noticed your chances of being seen by PA or Nurse Practitioner in ER or Private office or urgent care instead of MD or DO!!!!!!!?
Well said and thanks for the on-going commentary you provide this website-its always thought provoking and cogent.
Greg, Karl Denninger is a “Rock Star”!
I have been in the Health Insurance business for over 34 years. He is 100% correct on everything he has said in this interview. The biggest driver in Health Care cost has always been liability suits. Instead of addressing tort reform and putting caps on settlements, the government decided to highjack the health insurance companies just like they did the banks and the auto industry. Make no mistake this law was passed with one goal in mind. To crash the system. That’s it period. And it will. There is no way in Gods green earth you can add 30 Million people into an already overloaded system, throw in adverse health conditions and not collapse the system. It just can’t be done. And by the way, the cost to implement this plan will cost 2.7 Trillion more than the governments original estimates.
In my experience, small business owners (less then 50 employee’s) no longer want to carry group insurance because of the penalties, and are dropping their coverage in droves sending their employee’s into the exchanges. But guess what? When these employee’s see the cost they have to pay, they’ll say screw it and pay the $95. penalty. Then you will have millions more showing up at the hospitals without insurance. Not exactly the result we were told is it?
This is much bigger than just giving health insurance to deserving sick people. Three years ago I wrote a letter to Claire McCaskle ( who I went to school with) and said, before you overhaul our healthcare system, why don’t you fix the State Health Insurance Pool first. The people who can’t get insurance that I send there, can’t afford the cost. I never heard back from her. A year later at my class reunion I approached her about my letter. She said ” you’re not in Washington and don’t know what’s going on”. In other words shut the hell up you’re a dumb ass. This is what happens when you turn a system over to a government bureaucrat. Common sense goes out the window. My advice for your readers here, comes from the “Wizard of Oz”. “Run Toto Run”!
Great job of reporting Greg and Karl.
I Fully agree with what you said and i will take it one step further.
As you know from your field the hospitals have been in acquisition of the smaller businesses of retiring physicians for some time. Later on as every one have noticed urgent cares are popping like mushrooms every where. Primary care physicians have been hit hard, they barely can make it and they are losing ground to hospitals and urgent cares. If you look at the urgent care patients now i can assure you 80% of them are supposed to be seen in primary care setting.
So here we have now the primary care setting sector hit hard and hospitals ballooning with their urgent care satellites.
Now put the pressure on the remaining practicing physicians with EMR cost that goes hand in hand with Obama care finishing what Bush has started with National ID card and you will realize that after a short time our heath standard is going to rank behind Zimbabwe.
This is a disaster in the making one deliberate step at a time.
The end will be ugly.
I advice for every family to have at least on member trained in the medical field so at least they will have someone to go to before the choices are limited to “ONE HOSPITAL INC.” IN THE WHOLE US.
Karl hit the nail on the head. Once again we see a government program that will do exactly the opposite of what it proposes to do and at cost that will be exponentially higher than the projections. Unfortunately much damage has already been done even before the law is completely implemented. Many have lost their employer coverage because of cut backs in hours making them part-timers or employers have dropped health insurance entirely. There will probably be millions of people who had coverage finding themselves uninsured.
In my opinion this was designed to CRASH on purpose so they can implement a ‘single payer system’. That’s why we are seeing all these problems. This is why I won’t have anything to do with Gov’t sponsored healthcare.
It appears it already has crashed. They still cannot get their site and services up and running.
If I were to launch a new business and advertise I am open and then not be able to register/cash out my customers I would go broke. Actually, I would not have opened. What happened to that thing called testing before releasing to the public? The leaders of this country are like little children which is a verse right out of the Bible.
Greg, the economy is so fragile that it would implode Obamacare or not, Obamacare may well force its hand though in earnest. There are just too many people without jobs, low wages if working, and or any income of any kind for this thing to work now. Probably would have worked when the Clinton’s tried to do it back in the 90’s. Any law that is 1500 pages in my mind is doomed to fail, but frankly, the Republicans don’t have any alternatives except their plan; We don’tcare. Now we find out that Senator Cruz who is a loud outspoken opponent of Obama Care is married to a big shot Goldman Sacks banker. It just doesn’t get any better does it. That’s all we need now, another Wall Street Banker apologist running the show, talk about hypocrisy.
Nearly 4 trillion spent on welfare over 5 years? Does anyone believe this is sustainable? And it is not stagnant, it is increasing at an accelerated rate.
Wait till they add the multiple trillion from the UN-Affordable Care Act.
It is not about financial stability, but financial instability and wealth redistribution.
For instance, let say a middle-class couple is making an extra mortgage payment on their home. Well, not no more. It will go to ACA and not home.
If they own 50% of their home; well with a short time period that will be gone too.
I don’t know the exact figures, but mortgage payments due are around $12T. Homeownership is at that or higher. Home equity in mortgages is in the $trillions too. So how will this all get paid? There you go.
It is going to have to crash to become significantly more unstable
Obamacare is designed to crash. That is what they want. Single Payer will be their answer. Obama said so, at a union rally.
Great interview again Greg. But again I do not see why people need to ge up in arms about this so called health care law. The US Constitution and the state Constitutions prohibit any government in this country to force people to contract end of story. Additionally, according to 4 USC 72 the function of all governments agencies is limited to the District of Columbia period. So basically with few exceptions all federal law applies to citizens of the District of Columbia and not the 50 states. Correct me if I am wrong.
Daryl, I’m sorry, but Chief Justice Roberts, a supposed conservative, cast the deciding vote in the constitutionality case of the Affordable Healthcare Act, aka Obamacare. The Supreme Court decided that the contract clause in Obamacare amounted to a tax, and Congress has the constitutional authority to tax. When something as crystal clear as Obamacare is accorded legitimate status, the country is in big trouble. Best always. PM
The Supreme Court voted on the issue regarding “US citizens”, aka citizens of DC. The case had nothing to do with the People of the 50 states of the Union. So if you keep claiming to be a “US citizen” yes Congress can basically doing anything they want to it’s District of Columbia citizens. The Constitution does not apply to those citizens. They get “civil rights” not Constitutional rights. If you claim to be one of the “People” under the Constitution than Obama care does not apply to you. Read the law.
You are technically correct. The trouble is that every time you fill out an I-9, when you register to vote, etc., etc. you are coerced into claiming that you are a “citizen of the United States,” (note: not the “United States of America”) and thus a “person” of D.C.
Greg, great interview. Karl nailed the insurance/Obamacare scam. A much more malicious “elephant-in-the-room” revelation is provided by William Engdahl in his article on gold market manipulation. The inevitable failure of this desperate ploy and subsequent chaos is the real danger we all face. Once reality is re-imposed by China and Russia, the gig will be up for the elites in gov’t, banks, and the FED.
Little wonder they read our emails, listen to our phone calls, and are trying to force us to abjucate of our 2nd amendment rights.
Guns, gold, and grub…everything else is fantasy.
Good Stuff Greg,
Greg. I find it hard to believe any smokers willbe able to pay 900.00 a month for insurance.
There are 43.8 million smokers in America.
The fine for not having Insurance is 95.00
Thanks for having Carl on.
That’s how it starts but it ramps up each year so the fine becomes more punitive as time goes on. I think it gets to like 2.5% of what you make. My landlady happens to be an IRS Agent and i’ve asked her several times and she says they haven’t received the penalty information yet.
Once it’s available I plan on asking her if they will enforce the no compliance law if you refuse to pay the penalty. Which is what i’m leaning on doing anyways. 😉
JD…Thought is was $95 or 1% of annual income…which ever is more.SO it’s gonna be more than the 95
1% first year,2% second year then they will decide how much after that.
Dave, and Rodster. As one American I have decided this is time to stand up. Even if I am the only one standing. I will not pay the fine even if it is 1.00 It is a ungodly act to steal from one to give to another. Obama-no-care is against my religion, and GOD given constitution.
Thank you both for responding to my post.
I posted a link below that the fine cannot be enforced unless you get a tax refund. Regardless I’m leaning on not paying either way. I agree it’s time to STAND UP and say enough is enough.
Dear “Watchdog” Friends: what we have here is not only a failure to communicate but also the classic leftist ploy of attempting to legislate economics for political purposes. The mathematics on Obamacare simply do not work out. It is doubtful whether any centrally-planned/controlled program such as Obamacare and especially a single-payer program, which is lurking behind the curtain, can work in a country as physically large and with as many people, both legal and illegal, both citizen and alien, above-grounders and under-grounders as the USA. There is a reason Obamacare passed without a single Republican vote; it is merely another control mechanism. Obama learned his lesson well: sometimes nothing can be a pretty cool hand. PM
The transparent administration of obstruction….er uh…of Obama requests ND Blue Cross/Blue Shield not to disclose numbers of enrollment in Obama-care. They did anyway. 20 !?!?! We are saved. Tens of thousands lose health care at their employers and TWENTY can afford insurance under Obama’s health careless agenda.
REMEMBER Freedom, oppose tyranny and big government oppression. The question I want answered, is how much did Obama or those in his inner circle benefit from this choice of contractor? Would you give a big contract in the USA to someone who failed small Canadian sized projects? Someone with a record of incompetence?
We alienate our supports and have meaningless talks with avowed enemies. We even sell or contract our high tech equipment to our enemies.
Turkey has no place in the EUROPEAN UNION. The radicals were ignored as they inculcated the young and Turkey moved from moderate to Islamic state. Walk the Turkish ghettos in Munich where you will almost never hear a word of German and tell me this is assimilation instead of an invasion…If you can with a straight face.
The same thing happened here. We ceded education to the liberals and they taught our children that equality of outcome is a god given right instead of equality of opportunity. God , please save us from ourselves and the evil rulers whom we thrust our neck under their jackbooted feet willingly.
Outstanding interview Greg, if more people were exposed to this kind of work perhaps we would have a chance at turning things around, unfortunately we have zero chance of turning things around given the fact that these problems have been generations and decades in the making and to borrow an analogy from Karl, the asteroid is too close to affect its trajectory, so I guess we make our peace with God and brace for impact.
Sorry Greg for all links.
Excerpt for Zerohedge
Faber has warned in recent months that there could be a flight out of cash and overvalued bonds and into equities and gold.In January, in response to a question from Yale University’s Robert Shiller querying the recommendation to hold gold, Faber said: “I’m prepared to make a bet, you keep yourU.S. dollars and I’ll keep my gold, we’ll see which one goes to zero first.”
You gotta love that quote – thanks for sharing!
Though my friends here would get a laugh
The Govt cannot even run a computer program, thus we are going to let them run a $3T healthcare scam? This scam is only for more workers to pay for the ‘others’ healthcare.
The $95 penalty is just to get you into the system, thinking that it is cheap. In three years I read where it is over $3,000.
My premiums as of now are $1300 per month. So I don’t know if my payments will go down or up under the ACA.
Yea, I believe the penalty will start small and grow high until you are forced to get insurance at a cost you can’t afford healthy or sick.
Try Pacific Source.
Is it any wonder we are broke? Add this to the $100 gal boi-marine green fuel we are buying for the navy and we wont be able to field an army or navy.
My husband’s company had a heath care meeting yesterday, Everything has changed! Our coverage went up $100+ for our family of four, We are only 28. We had a heath care savings plan, they no longer offer it, and now they are going to have a on site clinic now, so I have to drive 40 min away for anything… thanks obama!
I love Karl. No nonsense. I like his solutions. I used to do quite a bit of international travel and I remember getting sick in Germany. I paid the doctor cash and paid the pharmacy cash. I was shocked that it cost nearly ten times as much back in the states and even the copay was more than the German price.
Karl called it. It is easy to see if one uses rational thought and the simple self interest of survival.
You guys have to read Karl’s post today.
It’s about Interpol head proposing gun ownership. Love it
What this law has done is polarize an already divided nation. No matter the outcome, whether this is repealed or not there will be a large group of people very angry and wanting to take some revenge out on the other side. This is not good. Everybody needs to keep a watchful eye on their surroundings and make sure your not at the wrong place at the wrong time. It is time to keep your family safe…
Stan & Greg, latest news out of Fox is that some Demoncrats now calling for Obamacare to be put on hold, frankly, it doesn’t matter, the collapse is coming, a blind man can see it, Obamacare will just rush it in. Republicans plans are “wedon’tcare”, as the elite will get care while the masses “eat cake”.
The Tea Party and some conservatives did try to stop it but the Rinos sold out. If they put McCain on the ticket, I’ll give money to the communist party before I give the Republicans another dime
Art, Greg, et al.,
I had an epiphany watching Rubio speak on teaming up with Democrats to postpone Obamacare. Can you explain the logic of Senator Rubio proposing legislation that will have the effect of bailing out the Democrats on Obamacare? The Republicans opposed and then sold out the Tea Party. What the Sam Hill are these macaroons thinking? Maybe I give them too much credit. They are leaderless, without morals, impotent and without principle but there are a few that have an IQ over 70. Why would you save the Democrats from themselves? The damage to the people can’t be stop at this point because the insurance industry has changed all the rules and polices. Companies have dropped health care for the coming year. Do you think that can be fixed in a few days?
The Dems passed Obamacare illegally. A revenue bill cannot originate in the Senate. By the supreme law of the land, the US Constitution, all bills dealing with revenue MUST originate in the House of Representatives. You cannot tell me that the Republicans missed this. So what is their game? Are the Republicans a stealth Democrat wing?
Do NOT delay Obamacare. Let the Dems own their signature piece of their socialist, communist agenda. This toxic millstone, that is the epitome of evil, will destroy the Democrats. In fact, it will give the people a brilliant view of the corruption and perfidious machinations of the Democrat’s true goal of destroying the America they hate so much.
I heard a Dem say they were trying to fix Obama care. The dems will have as much luck fixing Obama care as the Japs are fixing Fucoshima.
Senator Alexander of Tennessee is complaining about Obama care now. After he shoved it onto us.
Is anyone listening to UGLY? HE made some very interesting statements. His ideas about the government taking your money already operate that way if you are at end of life. When you die states take your money and home under many circumstances and sell it. They keep the cash. Well that can easily be transformed to do the same for your health care. Since the government has control of your health care they can just death panel you out when you are broke.
Obama has said his goal is to take the money saved by the working evil and give it to the leeches of society.
Always read the “Ugly” truth and appreciate his point of view
with regards to one of Hunter’s top stories; the one on Saudi Arabia.
‘And the Saudis should start by stopping their funding of the al Qaeda-related groups in Syria. In addition to the fact that it’s a country that doesn’t allow women to drive,’ said Van Hollen, who is close to Obama on domestic issues in Congress but is less influential on foreign policy.”
I have little respect for most liberal, socialist Democrats as to be one is intellectually dishonest. Did the dishonorable Representative van Hollen miss the memo that OBAMA is arming Al Qaida? He is lecturing morals to the Saudi while his unholiest Obama is committing murder by drone. I am all for killing terrorist. But when did the US Constitution give the President authority to kill US citizens without due process?
You have to wonder when Iran, Russia, the Saudis or even Israel will drop a Hellfire missile on Obama in the war on terror. If you compare Obama to Osama, Obama is the biggest terrorist by far.
I was able to pull up some information about the recent Bretton Woods meeting. Basically these people are responsible for the international monetary policies. I found some of their comments very interesting, as well as their body language when QE tapering was mentioned.
The following is a satirical parody …. (Ignore this public service message if you are easily offended by the current state of affairs).
Narrator …………. “It is now July 2015, and after just two and a half years of Obamacare, the country is restless. Widows, orphans many military veterans are destitute and penniless roaming the streets in search of anything edible. A once routine visit to a general practioner is now an all day event with lines wrapped around the buildings of virtually all medical facilities. Hospital care is now rationed as there aren’t enough doctors and nurses left to handle the load as many have resigned in frustration by the new load of paperwork (hundreds of pages per patient) that are required to be filed with the government agencies. Out of the abyss, emerges one last hope …… a man with vision ….. A man of pragmatic leadership ….. a true savior !!!!!!! ………………..”
“And now let me introduce to you the next President of the United States ………… Neel Kashkari !!!!!!!!!!!!!!!!!!”
My fellow Friends and Americans, … My name is Neel Kashkari. We in this beautiful land of America are reminded daily of the challenges required for progress. It would have been beneficial had the implementation of Obamacare gone smoothly, but it didnt. It would have been a good stepping stone to bigger and better things, but it wasn’t. It failed because it didnt go far enough. As in the case of the situation that led to financial meldown of 2008 We as a nation missed all the opportunities to bring a comprehensive program to bear. Lets face it my friends. Obamacare has failed miserably. It has failed because it didn’t go far enough for the American people. It failed because the Republicans and Tea Partiers weighted down a great program down until it could no longer succeed for the American people. Nevertheless, I want to share my hope for a new and better tommorrow.
Through my leadership, I hope to transform our nation. I want to bring back hope. I want to bring back prosperity. Let me share some of my background. I graduated Wharton Business School, which is the foremost Business School Masters program in the world. When Treasury Secretary Hank Paulson asked me to come in and combat the almost certain financial meltdown of 2008, I accepted the call and met the challenge head on. I came in and rolled up my sleeves and through my hard work and inspiration brought the nation out of the abyss. My work is part of the public record. Let me assure the American people that I have what it takes to get the job done. I am the only one that the nation can count on at this moment, but it isn’t just my moment. It is our moment. It is a true moment of change for the American people.
Please vote for me that I might finish the nations work and bind up the nations wounds. Although we cant fix Obamacare, we can completely overhaul the system and do the only thing that makes sense for all Americans. We must and shall implement a true single payer system for all Americans. Let us do it for fairness for the citizens. Let us mobilize and do it now. Elect me as your next president and I will make all of your dreams come true. Thank You my fellow Americans and God Bless the United States of America. Keep hope alive !
Greg – awesome interview! Unfortunately it seems obvious that we are headed to the single payor system, and I believe it is because there is no way Medicare can survive the Boomers’ need for medical care in their old age, no matter how much is paid into the system before they get to that point. The only problem with that scenario (besides probable very poor medical care for all) is that the amount of care given to the Boomer is likely to be weighted on how much work they did, what social worth the person has, and/or what they can still contribute to society… In essence, what makes that person worthy of receiving care. Welcome to the “Lifeboat”!
Karen H. say the rule of law is gone. It is. And not just in Washington, DC, just look at what the socialist, communist in Seattle, WA. How can a business be responsible for parking tickets because the person made a Facebook post on the businesses site? And these are the guys you want in charge of your healtcare? These petty bureaucrats seek power over people and have no care about legality or mortality.
Greg, just wanted to pass this along as I was not aware of it.
“Opt-Out Obamacare Penalty Can’t Be Enforced — Unless You Get a Tax Refund”
The American people are governed by scum. Of course, they voted the scum in.
The young generation, as they are the last to be hired and the first to be fired, suffers the highest unemployment rate while yet saddled with the debt incurred in obtaining their educations. They are the first to be sent to fight and die in our foreign, undeclared and thus unconstitutional wars. They are set up to pay increasingly higher taxes because of debts owed by previous generations. They are required to pay into insolvent entitlement systems that they know will never provide them the services they paid for.
Now yet another a plan comes along which attempts to “shove a gun up young peoples backs” and force them to pay the medical expenses of the less healthy, rapidly aging generation that came before them. This passing generation is one which chose to take advantage of their youthful innocence instead of honoring its obligation to cultivate, support and defend their interests and desires to thrive in a free and prosperous society. Just how much more can this screwed generation take?
Mr. Denninger says Obama Care is all about an attempt to increase corporate profits through government’s power of coercion. But, at the risk of being overly pessimistic, I think there is probably more to it than simply that.
Consider what America would look like were our young made to fight, not only in perpetual foreign wars against a nebulous adjective (terrorism), but also provoked to fight a generational war against their parents. Karl Marx, one of Obama’s heroes, would surely struggle to arise from his demonic grave and cheer such an event..no?
Greg they’re at it again.
According to Greg Mannarino , several of the Big Banks are
calling for even more QE printing.
I sure wish SOMEONE would explain what happens when people simply don’t sign up for this hideous nightmare.
I know a $95 “fine” is mentioned here and there on the ‘net, but there’s got to be more to it than that.
I’m self-employed (have been for 24 years) and have NEVER had insurance except when I worked for the state a long time ago and they screwed me over by letting my COBRA insurance lapse and THEN sending me the bill. Then a week later I got a letter saying “oops, sorry but it’s too late now for you to get into the risk pool.” Yeah, thanks. (I didn’t even know what a risk pool was or that one existed in my State at that time).
I have a pre-existing condition and several years ago we had a friend who was in the insurance business. He applied to over 30 different companies for me, with an accompanying letter from my doctor explaining things, but no one would take me. My doctor first screwed it up by even mentioning this “supposed” pre-existing condition in my medical records and from there it ballooned into something it wasn’t; and then he tried to fix it with a letter of explanation which the insurance companies obviously weren’t buying.
So, if I don’t sign up (why would I want insurance who doesn’t provide for anything I need??) what will happen to me, in toto?
The one thing I think Karl failed to talk about is it is was designed to blow up. They want single payer aka nationalized healthcare. They want this and they don’t care if the economy or the healthcare system blows up.
The people who voted this kenyian villiage idiot , and his ilk, into the fast fading powerful position,deserve what they have gotton, and as celente, mannirino, j.williams say, ‘americas collapse is iminate. ‘
Over and over again we get clowns voted into positions, like insane mcain.
🙂 buy cheap food now, and be ready to get outta the cities now, to an un disclosed location.
there is so much to talk about. i visited a chiropractor. asked him why he didn’t except health insurance? he told me he ran the numbers and said instead of $33 he would have to charge $150 at least if not more. my brother in-law got out of the same practice because excepting insurance was killing him. drove him right out of business. now a few years ago, after taking a physical, i get a letter that i most likely have cancer. being laid off, i had no insurance. researched and through a little help found a clinic in mo. not too far from where i live. now not to discourage people here, this clinic wants to know all assets and your finances. having nothing, i had a free ride. asking lots of questions, the doctors that saw me were very good and actually the main doctor was very well known in the country. turns out that everything was fine. going back to the hospital where the clinic is, i went to finance dept. to find out what i owed for this. because it was not told a free ride that i might have to pay a certain amount. well, the lady looks me up on the computer and said nothing.she said the $9000 was paid for through the charity. all was top notch never felt like i was a low life because i had no insurance or had any money. the charitable fund was always about 22 million.so people do have alternatives. insurance companies run all the health care in this country. and the fda is in bed with them. take hormones in milk, pink slime, which is in lots of fast food. all your processed foods. high froctossed corn syrup that the government gives the food industry for free. gmo’s, come on now. it’ a viscous circle. this comes down to glut, greed. we are 37th in health care in the world. those who have the money now go outside the country for healthcare. thanks again greg. lot more to say, hope to get people thinking.
Great interview Greg! Karl explains things very well. He’s absolutely correct. Healthy young people are not going to buy insurance. They don’t do it now and they won’t do it under Obama care. But, lets say we live in magical unicorn land and every single person got Obama care, I still don’t think that would do anything more than put pressure on already overburdened health care system and do nothing more than pay for an aspirin in the ER. This whole business of selling obamacare by saying people didn’t have healthcare cuz the couldn’t afford it is dishonest. There’s not an emergency room in the country that can turn you away if you don’t have insurance. Sure, they may not be able to afford a $10,000.00 MRI and other procedures, but, they won’t get those under obamacare either. Liberals scoff at the idea of so-called death panels. Well, even before obamacare, there was death panels. My son was born with mutiple health issues. He was legally blind, had cerebral palsy, a trach, etc… And to get Medicaid to cover many things he needed was a battle. Often I would submit letters from 5 separate specialists stating he needed something (I.e. in home nursing care) or he was in danger of dying and 2 beurocrats would make a decision to deny the request without any consideration to the medical professionals who knew him a lot better than them. To the system, he was merely a number. And I think it will get worse under obamacare. My son needed Medicaid. Put everyone on the government system and they will be making decisions based on whether that person has ever worked or paid taxes, how much longer they will be able to give back to the system, etc… So, a 40 year old who is unable to work because they have ms, will flatly be denied expensive life supporting care. It’s a very dangerous thing to have the government in control of our healthcare. It stinks to high heaven. It’s not about helping poor people get care they need. Its about robbing people of their money and putting everyone in a database and gathering information on every single person. It’s about control. I’ll say this, after spending almost 20 years in the nursing profession, I couldn’t be more happy to be among the unemployed. You couldn’t pay me enough to get back into it now. Thanks Greg!