Guest Post by Jesse
“Capitalism does have a lot of strengths, including producing things that are very innovative. But what drives capitalism is the profit motive. You can profit not only by making good things, but also by exploiting people, by exploiting the environment, by doing things that are not so good. The narrative that you describe ignores the extent to which a lot of the inequalities in the United States are not the result of creative activity but of exploitive activity.” – Joseph Stiglitz
The Fed’s minutes were released today. They showed a bias to raising rates in June if the recent economic weakness proved to be transitory.
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The question of the Fed’s changing their benchmark interest rate is probably a little less significant than the question of what they will be doing with their enormous Balance Sheet. Currently they are rolling the instruments over, but will likely be looking to start capping those renewals of the current holdings.
Removing items from the balance sheet has a less predictable impact on financial assets as compared to interest rates which is easier to hedge.
After the bell the CBO released their new study for the House proposal for ‘reformed’ healthcare. And the Bloomberg spokesmodels trumpeted it as good news. In this latest version the budget deficit would be reduced by 198 billion over ten years. Huzzah! Of course one has to accept a lot of assumptions to make that valid.
And only 23 million people would lose their health insurance, instead of 24 million. Improvement!
Medicaid would be slashed and older people and those who are sick would be paying much higher insurance rates. But at least the tax cuts for the wealthiest would be there as a consolation.
Luckily the Senate isn’t going to have any part of this inhuman piece of repugnant trash, which in my opinion disgraces the House GOP for all to see. Have no illusions about these jokers. And that includes the corporate Democrats. See the video below.
The Fed, a servant of the financial system, continues to pursue its dual mandate of inflating financial assets and crushing working people.
People keep waiting for some outrage that will spark an outcry, but slowly but surely the dehumanizing of the republic at the hands of the ubermenschen continues, in most of the Western countries. It is the fashionable thing to do.
Here’s the video referenced above ifn’ you want to see it.
Years ago, Boxer talked to a group and when finished, someone spoke up and refuted what she said.
Boxer replied: “I will do or say anything to support my agenda”.
You can also make a profit by stealing from those who produce.
As the Democrats will be graphically demonstrating as they, along with more than a few Republicans, destroy Trump’s upcoming attempt at budget and spending reforms.
When did health insurance become a right that the taxpayers and people who purchase health insurance must pay for? If 23 million people lose their health insurance, does that mean they didn’t have any before ObamaCare? If so, they are net even.
I came from Canada and live currently in US.
I saw first hand the poor state of “free” healthcare in Canada. It was a major reason for me to leave there.
First, the current US healthcare system is NOT a health insuance system. Under an insurance system, only major diseases (excluding pre-existing conditions) will be covered.
Second, healthcare is a privilege and definately not a human right. If you want healthcare or health insurance, you have to earn it. All other systems are nothing but wealth transfer from current and/or future tax payers to people who don’t pay.
I would suggest a joint responsibility for healthcare or health insurance. Maybe the goverment pays a small portion, such as 10%, 30% etc, up to a certain amount. Alternatively, people pay a yearly deductible up to 20K or what ever an amount. The majority of the responsibility should be with people being insuranced. Personal responsibility is as important (if not more) as human rights.
We have plenty of people on earth. I don’t see any reason why hard working people subsidize for those who don’t care of themselves. If they cared of yourselves, why would you eat three McDonalds’ a day with the only exercise which is walking from sofa to the fridge and returning back?
Third, if the government really cared of people, they would break monopoly with the insurance/pharmaceutical/medical industry. The government would encourage fair and free competition.
Fourth, if the governmnet cared of people, they would encourage/help/educate people on disease prevention instead of “healthcare”.
I don’t think that I could afford so called healthcare here in the future. That has been motivating me to live a healthy life style. Quality food (and fasting), exercise, quality/plenty sleep, positive attitude/happiness are all more important than surgery and pharmaceuticals.
(Sorry, English is not my mother language).
You did well on your second language, no need to apologise. And I support all you say – I also look after myself, I am 72, healthy in all respects, except one (I am Bipolar) but that doesn’t impact my life because I don’t let it. But it does impact others lives on occasion which is why I take Respiridone, a very effective drug which beats Lithium hands down, at least for me that is. My drug is provided free of charge under our marvellous NHS system here in UK and there is nothing better in the world I believe – don’t listen to all the negatives out there – it’s a tremendous system and is funded by 12+% National Insurance tax on employers and an equal % on employees – works out fine and USA could use such a system. You could even fund it with a Value Added Tax (VAT) which I have been advocating for USA as an economic panacea. OR just spend less on the useless Military/industrial/Complex – who needs to be able to destroy the world 1000 times? I rest my case.
http://www.zerohedge.com/news/2017-05-25/bomb-detonates-inside-car-former-greek-prime-minister-and-central-banker-papademos
Hopefully this is a member of Team Goyim fighting back !