WHAT IS YOUR HEALTH INSURANCE INFLATION?

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Posted on 30th April 2015 by Administrator in Economy |Politics |Social Issues

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It is that time of year again. It’s open enrollment at my employer for health insurance options. I have the cheapest family coverage option – Keystone HMO. We go through all the red tape of primary care physicians, referrals, co-pays and deductibles. I consider myself lucky because my employer picks up about 80% of the total premium cost. They are the largest employer in Philadelphia, so they have major leverage in pricing negotiations with the health insurance companies. Despite this leverage, my premiums will be going up by 9.2% in the coming year. This is after a 12.1% increase last year. And this is just the premium side. Two years ago we had no individual or family deductibles. Now they are over $1,000. Therefore, my true annual cost is up by 20% per year.

Obamacare was passed in 2009. It immediately forced employers to cover kids up to the age of 26. Ever since my premiums have gone up by double digits every year, my co-pay went from $15 to $35, and they introduced deductibles. Obama sold Obamacare as reducing the average family insurance premiums by $2,500 per year. I guess I’m not from an average family.

Now the good part. The CPI is supposed to reflect the inflation rate of a dozens of living expenses. It weights Medical Care as only 7.7% of the total of your expenses. Hysterically, it weights Health Insurance as .753% of your total expenses. The ridiculousness of these weightings is astounding. A household with median income of $52,000 has medical care expenses accounting for at least 15% of their total expenses. Health insurance premiums alone are easily 8% or more. Even with my employer picking up 80% of the premiums, my portion is about 4% of my total expenses and my medical care expenses surpass 10% of my total expenses. The government is purposely under-weighting these expenses to falsify the inflation figures.

It gets even better. Your government keepers have the balls to tell you that health insurance costs actually FELL by 0.4% in the last 12 months, while medical care expenses only rose by 2.5%. The data from the beginning of 2010 (when Obamacare became law) to now is breathtaking in its falsity. According to the BLS here is the rate of inflation for these categories since January 2010:

Health Insurance – 12.6% (2.3% annual increase)

Medical Care – 15.9% (2.9% annual increase)

Do you think Humana, United Health, and Cigna are reaping massive profits with 2.3% annual premium increases? This data is an outright joke. My health insurance premiums are up by over 65% since 2010. My medical care expenses are up over 75% since 2010. I guess the government is comfortable with lying to the American people because they know they are apathetic, math challenged and distracted by their iGadgets.

What is your health insurance inflation?

 


CLINTON CONCEPT OF CHARITY

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Posted on 27th April 2015 by Administrator in Economy |Politics |Social Issues

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A charity that only distributes 5.9% of the funds it collected to charitable causes is called a FRAUD!!!

Where is the IRS investigation? Where is the MSNBC expose?

 

Guest Post by Karl Denninger

 

I have to admit, this is a pretty impressive tax return…. and belies a simple question: Why would anyone “donate” to such a “charity”?$144 million in direct contributions and grants; $149 million in total revenue (2013 numbers); of that $8.9 million went to grants paid (that is, about 5.9% of the funds that came in went to charitable causes.)

The rest was either “absorbed” (that is, the “charity” still has it) or was paid out in things like executive compensation.

You might be interested in knowing that the “charity” had 35 employees with reportable compensation (that is, over $100,000) and their top five combined had $2.6 million in direct (that is, cash) compensation and another $278,000 in benefits for approximately $3 million — or 1/3rd of all spending on “charitable causes“.  On a grossed-up basis the charity spent $21.8 million on salaries and wages or approaching three times what it spent on “charity.”

In fact this “charity” spent as much on travel ($8.4 million) and more on conferences and similar confabs ($9.2 million) as it did on actual grants for charitable purposes.

What is this “charity”?

Bill, Hillary and Chelsea Clintons so-called “charity” that was operating while Hillary was Secretary of State and continues to operate today.

Again, if you were not trying to buy influence of some sort exactly why would you donate to a so-called “charity” that only spends 5.9% of the money received on actual charitable programs?

Go ahead folks, tell me what possible motivation someone who is rich might have in “giving” to such a foundation when virtually none of your money is going to go to actual relief causes such as feeding poor people and helping disaster victims.

Oh by the way, that’s not really much of a one-off either.  In 2012 (the previous tax year) the ratio of spending on charitable programs to “contributions” was just under 15%.


AMAZON PROFIT IS JUST OVER THE HORIZON

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Posted on 27th April 2015 by Administrator in Economy |Politics |Social Issues

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Amazon reported their financial results for their first quarter last week. They had sales of $22.7 billion and somehow managed to lose $57 million. So you have a company with revenue growth of 13% that is losing money. The stock was already selling at an outrageous price of $385 per share. Wall Street’s reaction to 13% revenue growth and increasing losses was to drive the price up $65 in one day to $450 per share. It is up 56% in the last 6 months, while it was losing $400 million in the last 12 months. If you look really really hard at the chart below you still won’t see the profit bars. Maybe a magnifying glass will help.

This company had a negative operating cash flow of $1.5 BILLION for the quarter. It’s free cash flow was NEGATIVE $2.4 billion. It’s price to book value is 13.4. A normal price to book value is 1.0 to 2.0. It doesn’t have a PE ratio because you need earnings to calculate this ratio. This company is the poster child of the delusion that has overtaken our financial markets. Bezos always promises future profits that never materialize. Wall Street buys on the promises and spins stories about new paradigms, blah, blah, blah. We’ve heard it all before. We heard it in 2000 and we heard it in 2007. It always ends the same way. If you don’t believe me then just borrow on margin and pile into this juggernaut of losses.

Infographic: More of the Same From Amazon | Statista

You will find more statistics at Statista


BEN’S COURAGEOUS STORY

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Posted on 8th April 2015 by Administrator in Economy |Politics |Social Issues

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The actual title of Helicopter Ben’s ode to his Wall Street owners.

The truthful title of his traitorous actions.

THE COURAGE TO PRINT

Via William Banzai

THE DAY THE SPINELESS FASB ACCOUNTANT WEENIES AGREED TO ALLOW WALL STREET BANKS TO REPORT FRAUDULENT FINANCIAL STATEMENTS

21 comments

Posted on 9th March 2015 by Administrator in Economy |Politics |Social Issues

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The captured corporate MSM is celebrating the six year anniversary of when the stock market bottomed in March 2009. They will spin a false narrative of Bernanke, Obama and Geithner saving the world with TARP, QE, and the $800 billion Porkulus bill. What great heroes. Bernanke now gets $300,000 for a lunchtime speech at Bank of America gatherings. He is raking in north of $10 million per year now. He made $200,000 per year as the Fed Chairman. His wisdom must be on par with Jesus Christ to get $300,000 for a one hour speech. Bernanke’s Sermon on the Mount tour:

The millions he is getting paid by the Wall Street banks for speeches isn’t a payoff. Right?

Bernanke and Geithner stopped the market from falling in March 2009 by threatening the accounting geeks at the FASB and forcing them to allow fraudulent reporting by the insolvent Wall Street banks. The crisis ended – precisely – on March 16, 2009, when the Financial Accounting Standards Board abandoned FAS 157 “mark-to-market” accounting, in response to Congressional pressure from the House Committee on Financial Services and threats from Bernanke and Geithner on March 12, 2009. That change immediately removed the threat of widespread insolvency by making insolvency opaque. Mark to fantasy was born. Profits for everyone!!!

The fix was in. Every Wall Street bank was insolvent in March 2009. Citicorp and Bank of America were dead. There were hundreds of billions in worthless toxic mortgage securities, derivatives, auto loans, and credit card debt sitting on their books. FAS 157 required them to price those assets at what they could sell them for in the market. You remember free market capitalism? Something is worth whatever an independent party is willing to pay. The fat cats love free market capitalism when they are making billions. Not so much when they blow up the financial system and are faced with the consequences of THEIR actions.

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Disability: A Problem We Refuse To Address

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Posted on 3rd March 2015 by Administrator in Economy |Politics |Social Issues

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Denninger is far too nice in his assessment of the SSDI program. The Free Shit Army has jumped into this program with abandon. Once their two years of unemployment payments ran out, they suddenly developed mysterious ailments that keep them from working.

It’s amazing that over 60% of the people receiving SSDI have conditions that can be easily faked and not verified. Depression about having to get a job is considered a mental disorder, allowing the deadbeat to receive about $50,000 of benefits for doing nothing. That mysterious muscle ache which can’t be diagnosed will also do the job. Just watch the shyster lawyer commercials during the Jerry Springer Show to see how you are ENTITLED to SSDI.

The fact is this program was created for workers who got injured on the job and was supposed to be temporary until they could recover and go back to work. The workplace is 100 times safer than it was 25 or 50 years ago. Service jobs pushing paper or using computers or cash registers is not conducive to disability. Eating until you are 300 pounds will make you unemployable, but is no excuse for going on disability. Only 1% of the FSA that goes on SSDI ever goes back to work.

Workplace injuries account for less than 5% of all SSDI recipients. The billions being doled out to lazy good for nothing parasites has bankrupted the SSDI program. But don’t worry. They’ll just rob the equally bankrupt SSI program to keep paying these lazy fucks. Obama and his minions think this program is great, as it solidifies the Democratic base of non-working voters. Plus, these people don’t count in the unemployment rate calculation.

Guest Post by Karl Denninger

Once again Congress is likely to do something stupid.  Really, really stupid.

Sometime next year Social Security’s $150 billion disability-insurance program will become insolvent. The program, which offers income supplements to those who cannot work full time due to physical or mental disabilities, has buckled as the number of beneficiaries has soared to more than 11 million in 2014, from 3.8 million in 1984. The bipartisan Social Security Advisory Board has urged reforms.

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BREAKING BAD (DEBT) – EPISODE THREE

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Posted on 1st March 2015 by Administrator in Economy |Politics |Social Issues

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In Part One of this three part article I laid out the groundwork of how the Federal Reserve is responsible for the excessive level of debt in our society and how it has warped the thinking of the American people, while creating a tremendous level of mal-investment. In Part Two I focused on the Federal Reserve/Federal Government scheme to artificially boost the economy through the issuance of subprime debt to create a false auto boom. In this final episode, I’ll address the disastrous student loan debacle and the dreadful global implications of $200 trillion of debt destroying the lives of citizens around the world.

Getting a PhD in Subprime Debt

“When easy money stopped, buyers couldn’t sell. They couldn’t refinance. First sales slowed, then prices started falling and then the housing bubble burst. Housing prices crashed. We know the rest of the story. We are still mired in the consequences. Can someone please explain to me how what is happening in higher education is any different?This bubble is going to burst.” Mark Cuban

 http://www.nationofchange.org/sites/default/files/StudentLoanDebt070313_0.jpeg

Now we get to the subprimiest of subprime debt – student loans. Student loans are not officially classified as subprime debt, but let’s compare borrowers. A subprime borrower has a FICO score of 660 or below, has defaulted on previous obligations, and has limited ability to meet monthly living expenses. A student loan borrower doesn’t have a credit score because they have no credit, have no job with which to pay back the loan, and have no ability other than the loan proceeds to meet their monthly living expenses. And in today’s job environment, they are more likely to land a waiter job at TGI Fridays than a job in their major. These loans are nothing more than deep subprime loans made to young people who have little chance of every paying them off, with hundreds of billions in losses being borne by the ever shrinking number of working taxpaying Americans.

Student loan debt stood at $660 billion when Obama was sworn into office in 2009. The official reported default rate was 7.9%. Obama and his administration took complete control of the student loan market shortly after his inauguration. They have since handed out a staggering $500 billion of new loans (a 76% increase), and the official reported default rate has soared by 43% to 11.3%. Of course, the true default rate is much higher. The level of mal-investment and utter stupidity is astounding, even for the Federal government. Just some basic unequivocal facts can prove my case.

There were 1.67 million Class of 2014 students who took the SAT. Only 42.6% of those students met the minimum threshold of predicted success in college (a B minus average). That amounts to 711,000 high school seniors intellectually capable of succeeding in college. This level has been consistent for years. So over the last five years only 3.5 million high school seniors should have entered college based on their intellectual ability to succeed. Instead, undergraduate college enrollment stands at 19.5 million. Colleges in the U.S. are admitting approximately 4.5 million more students per year than are capable of earning a degree. This waste of time and money can be laid at the feet of the Federal government. Obama and his minions believe everyone deserves a college degree, even if they aren’t intellectually capable of earning it, because it’s only fair. No teenager left behind, without un-payable debt.

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BREAKING BAD (DEBT) – EPISODE ONE

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Posted on 27th February 2015 by Administrator in Economy |Politics |Social Issues

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“At this juncture, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained.”Fed chairman, Ben Bernanke, Congressional testimony, March, 2007

“Capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.”James Grant, Grant’s Interest Rate Observer

The Federal Reserve issued their fourth quarter Report on Household Debt and Credit last week to the sounds of silence in the mainstream media. There were minor press releases issued by the “professional” financial journalists regurgitating the Federal Reserve’s storyline. Actual analysis, connecting the dots, describing how the massive issuance of student loan and auto loan debt has produced a fake economic recovery, and how the accelerating default rates in auto loans and student loans will produce the next subprime debt implosion, were nowhere to be seen on CNBC, Bloomberg, the WSJ, or any other status quo propaganda media outlet. Their job is not to analyze or seek truth. Their job is to keep their government patrons and Wall Street advertisers happy, while keeping the masses sedated, misinformed, and pliable.

Luckily, the government hasn’t gained complete control over the internet yet, so dozens of truth telling blogs have done a phenomenal job zeroing in on the surge in defaults. The data in the report tells a multitude of tales conflicting with the “official story” sold to the public. The austerity storyline, economic recovery storyline, housing recovery storyline, and strong auto market storyline are all revealed to be fraudulent by the data in the report. Total household debt grew by $117 billion in the fourth quarter and $306 billion for the all of 2014. Non-housing debt in the 4th quarter of 2008, just as the last subprime debt created financial implosion began, was $2.71 trillion. After six years of supposed consumer austerity, total non-housing debt stands at a record $3.15 trillion. This is after hundreds of billions of the $2.71 trillion were written off and foisted upon the backs of taxpayers, by the Wall Street banks and their puppets at the Federal Reserve.

The corporate media talking heads cheer every increase in consumer debt as proof of economic recovery. In reality every increase in consumer debt is just another step towards another far worse economic breakdown. And the reason is simple. Real median household income is still below 1989 levels. The average American family hasn’t seen their income go up in 25 years. What they did see was their chains of debt get unbearably heavy. Non-housing consumer debt (credit card, auto, student loan, other) was $800 billion in 1989.

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Bill O’Reilly busted: Falklands war exaggerations, JFK murder witness lies

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Posted on 26th February 2015 by Administrator in Economy |Politics |Social Issues

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LATEST OBAMACARE F#@K UP

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Posted on 20th February 2015 by Administrator in Economy |Politics |Social Issues

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Obamacare is the biggest government clusterfuck in history. It is proving beyond a shadow of a doubt that anything the government touches or tries to control turns into a big steaming pile of shit that will cost trillions of dollars. Their shit for brains website is still a disaster. Obama changes the law as he goes. Like most of Obama’s initiatives, they are making it up as they go along. This was about as well thought out as Nancy Pelosi’s plastic surgeries.

They announced earlier today that they are extending the sign up period to April 15. Deadlines are meaningless. We are now about to experience the massive losses from the fraud that has occurred in the last year. Billions in subsidies have been paid out in error or due to fraud. How much do you think will be paid back by the Free Shit Army brigades? How long before Obama issues a proclamation telling the IRS to not enforce the penalties or to try and collect the fraudulent subsidies paid out?

And amazingly, most of the ignorant masses think Obamacare is a wonderful new program and is helping millions of poo people. Luckily the iGadget addicted, math challenged masses don’t remember that Obamacare was going to cover the 30 million uninsured Americans, not add one dime to the national debt, and save the average family $2,500 per year in insurance premiums. How are those promises working out?

Wrong tax information sent to 800,000 HealthCare.gov customers

By Robert Schroeder

Published: Feb 20, 2015 12:12 p.m. ET

WASHINGTON (MarketWatch) — About 800,000 HealthCare.gov customers got tax forms from the government with incorrect information, a Treasury Department spokesperson said Friday. The errors were on 1095-A forms that HealthCare.gov sent to consumers who get coverage through the federal insurance marketplace. Treasury said those who have not filed taxes should wait to do so until they have received a corrected form. Treasury said corrected forms will go out in early March.

What Do We Call Media Fraudsters And Hucksters?

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Posted on 13th February 2015 by Administrator in Economy |Politics |Social Issues

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 Guest Post by Karl Denniger
Time to increase my long pitchforks, torches, lamposts and boiled rope trade, I suspect.

The words are hurled around like epithets.

People who reject the findings of climate science are dismissed as “deniers” and “disinformers.” Those who accept the science are attacked as “alarmists” or “warmistas. ” The latter term, evoking the Sandinista revolutionaries of Nicaragua, is perhaps meant to suggest that the science is part of some socialist plot.

In the long-running political battles over climate change, the fight about what to call the various factions has been going on for a long time. Recently, though, the issue has taken a new turn, with a public appeal that has garnered 22,000 signatures and counting.

The petition asks the news media to abandon the most frequently used term for people who question climate science, “skeptic,” and call them “climate deniers” instead.

Yes, and the so-called “climate denier” label is intended to evoke The Holocaust, which is an outrageous and intentional appeal to a factually-known act of mass-murder that left a few million skeletons behind as evidence.

The problem with so-called “climate science” is that it’s not science at all; it’s hucksterism and fraud.  Let’s look at a few (and only a few!) of the problems that the so-called “climate change” people peddle.

1. It was called “global warming”, but when the warming stopped and failed to verify against the claims of their computer models for 15 years running they changed their name.  That’s fraud.

2. Only something like 3% of the surface of the earth has a temperature probe covering a place in the immediate vicinity.  That’s a lack of data.

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BRIAN WILLIAMS – PUPPY SAVER & CHRISTMAS TREE BANDIT VICTIM?

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Posted on 9th February 2015 by Administrator in Economy |Politics |Social Issues

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When did misremember become a real word?

 

Via The New York Post

Brian Williams also told iffy tales of rescuing puppies from fires

Long before he was caught lying about his chopper being forced down by enemy fire in Iraq, Brian Williams boasted how he bravely rescued a terrified puppy from a house fire.

Or maybe it was two puppies.

The truth-challenged NBC anchor told dueling versions of his supposed heroics as a teenage volunteer firefighter with the Old Village Fire Company in Middletown, NJ.

In October 2011, Williams waxed rhapsodic about how his dad took him to fires.

“I remember one such house fire . . . conducting a search on my hands and knees, when I felt something warm, squishy and furry on the floor of a closet,” Williams said.

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