Obama Scamming Seniors
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-04-23 12:36
by Karl Denninger
in Health Reform
Ignore this thread
Obama Scamming Seniors
 

Wake up Seniors!

You know I've written often about the fact that Medicare as it exists today cannot continue.  The problem can't be fixed with either it or Medicaid, because the problem isn't Medicare or Medicaid -- it's the medical system and fixing that requires*****ing off a lot of very powerful corporations who make lots of bribes campaign contributions to various representatives, senators and of course Presidential candidates.

So what Obama is trying to do is scam you.  Here's how:

Call it President Obama’s Committee for the Re-Election of the President — a political slush fund at the Health and Human Services Department.

Only this isn’t some little fund from shadowy private sources; this is taxpayer money, redirected to help Obama win another term. A massive amount of it, too — $8.3 billion. Yes, that’s billion, with a B.

What Obama intends to do is fill in the hole that exists in Medicare Advantage (the "supplement" plans available to Seniors) for just a few months until after the election.

This will con Seniors into thinking they're going to all be ok with their Medicare but as soon as the election is over you will find out that you get screwed -- hard.

This is what the utter dishonesty of both sides of the aisle has come down to -- now we're to the point that we're literally buying a month of lies at a time to the tune of $8 billion that is being basically expropriated from a program intended for experimental "proof of concept" programs and redirected into literal vote-buying -- and a conjob for Seniors.

The question of course is "will you fall for it?"

Discussion below (registration required to post)
 

Main Navigation
Full-Text Search & Archives
Archive Access
Get Adobe Flash player





Blogtalk 3:30 CT Mondays
Items To Look At


Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.

Where We Are, Where We're Heading (2013) - The annual 2013 Ticker

Links and Blogroll
Our policy on reciprocal links: Send us an email with your information and why you think your blog or news site would make a good addition - in most cases reciprocal link requests will be granted.
Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Looking for "The Best of Market Ticker"? Check out
Ticker Classics.

Visit the forum to discuss this and other investing-related topics; see the FAQ on the forum for information about Gold Donor status including access to our technical analysis video server.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be reproduced or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media or for commercial use.

Submissions may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Leads on stories of current economic and political interest are always welcome. Our fax tip line is 850-897-9364; please include contact information with your transmission.

 
Comments.......
User: Not logged on
Login Register Top Blog Top Blog Topics FAQ
User Info Obama Scamming Seniors in forum [Market-Ticker]
Zarathustra
Posts: 5961
Incept: 2009-04-29
Silver A True American Patriot!
Funkytown
Report This As A Bad Post Add To Your Ignored User List
It's over. We are a banana republic...

----------
"And in knowing that you know nothing, that makes you the smartest of all." - Socrates
Musicandnature
Posts: 1955
Incept: 2007-12-05
Gold
NJ
Online
Report This As A Bad Post Add To Your Ignored User List
I don't think it's too easy to fool seniors. They know O did not follow thru on anything good - some initiatives he could have at least tried, i.e. more transparency. O-care is not a victory but major clusterfck handout to the ins and drug cos. It's astounding how much money both parties have wasted and will keep on wasting that could be used for some legitimate societal needs.

I am surprised third world powers are not funding O; if he loses I could forsee some war campaigns to keep the MIC in the black and bring mfg jobs to life.

----------
Since it costs a lot to win, and even more to lose, You and me bound to spend some time wonder'n what to choose. Goes to show, you don't ever know, watch each card you play and play it slow...Wait until that deal come round, don't you let that deal go down, no no. Garcia/Hunter.
Lumpeninvestor
Posts: 2345
Incept: 2007-10-16
Gold
98072, USSA
Report This As A Bad Post Add To Your Ignored User List
Seems this may fit here (again)

Bill Whittle: The Vote Pump


----------
Distributing insolvency only destroys the last remaining islands of solvency in a bankrupt world. - Charles Hugh Smith 8/23/2012
Irritatedcitizen
Posts: 72
Incept: 2011-05-20

Report This As A Bad Post Add To Your Ignored User List
Isn't all of this contingent on the Supreme Court failing to do their duties and letting the law stand?

I.e. if they do their jobs and strike the 2.7k page abomination, this entire discussion is moot - correct?

Furthermore, in that case, can we give the 8.3 Bil to, say... science/NASA/development of a Thorium fission infrastructure (or just NOT DISBURSE MONEY WE DON'T HAVE)?

Genesis
Posts: 130787
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
Correct.

----------
I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Resistance
Posts: 6162
Incept: 2008-09-26
Green

Banned
Report This As A Bad Post Add To Your Ignored User List
He should make 16 or 24 billion. The harder and faster this failed experiment hits the wall the better.

----------
"Why must political experiments always be in the direction of more government? Why not give the free market a county or even a state or two, and see what it can accomplish?"Murray Rothbard - The Fallacy of the Public Sector
Stanowen
Posts: 160
Incept: 2008-10-02

Report This As A Bad Post Add To Your Ignored User List
Quote:
He should make 16 or 24 billion. The harder and faster this failed experiment hits the wall the better.

Obama 2012?

Winstonsmith2009
Posts: 1060
Incept: 2009-08-05

Report This As A Bad Post Add To Your Ignored User List
$8.2B via a more blatant method, but it pales in comparison with this, caused by artificially low interest rates on savings accounts alone (not even counting commodity price increases raising the cost of living):

"The banking system has been saved on the back of the savers of the United States. We have totally destroyed any incentive for thrift, for deferred gratification. The Fed has become more Keynesian than Keynes.

Now, the fact is, if you were going to bail out the banking system with this kind of transfer -- I calculate it at $300 or $400 billion a year -- the suppression of interest rates on depositors, on the $7 trillion or so of deposit base that we have, is at least $300 or $400 billion a year. And that’s the same thing as taxing the public by $300 or $400 billion and redistributing it to banks based on the distribution of their deposit base. That wouldn’t get one vote. Okay, in other words, what I’m saying is if it were done in a proper way as a fiscal transfer put before the democracy to review and vote up or down, it would be voted down overwhelmingly. It would be shouted down. It would not even see the light of day out of committee, to say nothing of the floor of the House or Senate. - David Stockman"

Excellent interviews of David Stockman:

http://www.youtube.com/watch?v=idfBpq80s....

http://billmoyers.com/segment/david-stoc....


Mangoelvis
Posts: 1727
Incept: 2009-07-11
Gold
Las Vegas, NV
Report This As A Bad Post Add To Your Ignored User List
Quote:
I don't think it's too easy to fool seniors


I disagree. Just run a few ads with someone running granny off a cliff in a wheelchair and wait for the votes to roll in.

In their defense, they're no different than most other American voters. You simply have no chance of getting elected in this country if you tell the truth.

----------
Evolutionarily speaking, sloths must taste terrible.
Irritatedcitizen
Posts: 72
Incept: 2011-05-20

Report This As A Bad Post Add To Your Ignored User List
Glad I had that right above. I'm posting again to put $8.2 Billion in context because so many big numbers are tossed around these days. $8.2 Billion is:
  • More than the entire NSF had allocated for fiscal year 2012 ($6.87 B)
  • More than one quarter (26.5%) of the entire NIH budget for fiscal year 2012 ($30.9 B)
  • Nearly half (46.1%) of NASA's 2012 budget ($17.77 B)
Yes, the above (seemingly tiny) amounts are the scraps we toss to pure scientific and engineering R&D.

Which are constantly on the chopping block to get cut further because they're considered discretionary, while this $8.2 Bil seems like nothing for healthcare. Our forward-looking priorities are really, really screwed up.

Peterm99
Posts: 4993
Incept: 2009-03-21
Gold
SoCal
Report This As A Bad Post Add To Your Ignored User List
Seniors seem to be VERY easy to fool.

A large fraction of them appear to believe that AARP is something other than a tarted-up marketing mechanism whose primary function is to separate seniors from whatever wealth they may have.

----------
". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Peterm99
Posts: 4993
Incept: 2009-03-21
Gold
SoCal
Report This As A Bad Post Add To Your Ignored User List
Irritatedcitizen -

Very good point to illustrate the relative quantity of $, but you are laboring under a severe misapprehension if you actually believe that the bulk of NSF, NIH, and/or NASA spending goes to "pure scientific and engineering R&D".

----------
". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Nomennescio
Posts: 63
Incept: 2012-01-16

Report This As A Bad Post Add To Your Ignored User List
If it happens, do you really think it will unhappen after the election? I mean, has any entitlement ever been curtailed? Ever? And wouldn't this automatically be considered an entitlement?
Rule10
Posts: 2456
Incept: 2008-09-30
Green
Report This As A Bad Post Add To Your Ignored User List
Why bother. You people really don't understand the system. Including Karl.

The Powers that be have taken over years ago. That is a fact. So, how do you usurp them? How do you unseat them? If you think it can be done by voting or starting a third party then you are delusional in my opinion. It would require the expectation that the average joe on the street to understand simple economics.

It won't happen. They will NEVER vote for the changes that are required. NEVER EVER EVER.

We can't play within the system. They control it. Can't you see?

We are outnumbered.

It will be all underground. The resurrection will be underground. From the producers. And maybe not at all if we don't focus on that aspect instead of the futile attempts at playing within the system.

----------
You are not what you say you are, You are what you do.
2dogs
Posts: 2941
Incept: 2009-03-25
Gold
Land of the Lost
Online
Report This As A Bad Post Add To Your Ignored User List
Rule10 wrote..
It would require the expectation that the average joe on the street to understand simple economics.

It won't happen.
Anyone who understands basic math knows the ponzi social programs are unsustainable and close to collapsing. Unfortunately, only a very small percentage of the population understands basic math.






----------
You can't defeat the combined effects of massive voter fraud, the Free **** Army, and the entire bought and paid for media complex. This nation is done.
Login Register Top Blog Top Blog Topics FAQ