Our Nation DESERVES To Fail
The Market Ticker - Commentary on The Capital Markets
2017-10-19 14:40 by Karl Denninger
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Our Nation DESERVES To Fail*
 

I will lay out the indictment here in brief form.  It's aimed at the American public at large because this is what is tolerated on a daily basis and what it costs us.  I'll leave this open for comment for a couple of days, after which I'm locking the topic.

Let's see if anyone can make the case for what they intend to do both personally and collectively about any of this -- and I'll keep this one short.  Trust me, there may be more where this came from if I decide it's worth my while.  After all it's not like I don't have 11,000 articles written over the last decade to draw from..... oh wait....

Let's start with Hillary Clinton and Barack Obama.  There is now incontrovertible evidence that several years before the Uranium One deal was signed off on by both Hillary and Obama, a deal that sold 20% of American uranium assets to Russia (and we all know what uranium is used for, right?), the FBI had an ongoing investigation into the Russian principals of that transaction for bribery and extortion.  There are only two possibilities, of course: Either the FBI (all of it) intentionally concealed the existence of the investigation from the administration or the administration knew damn well that the deal was coerced and went along with it despite having full knowledge of same.

Do I particularly care which it is?  No, because the FBI is the government.

What I do very much care about is that the Russian Government actively practiced extortion and bribery within our borders for years and exactly zero was done about it to this very day more than a decade later.  The FBI knew about it and did exactly nothing.  Not one person has been indicted, the acts themselves were covered up despite being known to the government and the "deal" that appears to have been procured through felony unlawful acts has not been forcibly unwound.  In other words the Russians have been allowed to keep what they stole; this is equally egregious to the FBI watching a mobster rob a bank, knowing who it is that robbed the bank and then not only refusing to prosecute them letting them keep the money.

I remind you that if the government merely suspects you have $10,001 in your briefcase due to selling a substance they don't like they will steal it from you at gunpoint even if they are unable to prove that you did anything illegal.  At the same time the millions of dollars that these people funneled to the Clinton Foundation remains there, it has not been seized and the deal has not been unwound, nor has one single indictment been leveled.

I further remind you that before you scream "Democrats!" that Donald J Trump has been President now for nearly 10 months and he and his attorney general Jeff Sessions have done exactly nothing about any of this.  Trump and his administration along with both sides of the aisle in Congress are therefore explicitly confirming on a literal daily basis that this is "acceptable behavior" and not worthy of criminal punishment.  Let me remind you that Trump, during the campaign, repeatedly cheered on the premise "Lock Her Up."  Well?  Whether you're a "MAGA" supporter, an "establishment" Republican or a Democrat of any stripe go **** yourself with a rusty chainsaw because you are all explicitly supporting an administration that has intentionally refused to act on the "buying" of 20% of our nation's nuclear energy and weapons raw material by Russia through acts of bribery and extortion.

Considering that having our energy infrastructure strangled by a hostile government is arguably one of the greatest threats that we could face this activity is especially outrageous.  However, I can understand why you might stick you head in the sand on this; after all, the lights haven't so much as flickered in your house, right?

Ok, so maybe I'll let you slide on that one.

I won't let you slide on the $15,000 a year that is stolen from every family in this nation on an annual basis by the medical scam in the United States.

The means by which it happens are so varied and outrageous that they are almost beyond belief.  I have heard many people scoff at me when I point out that we overpay by five times in this country for medical care.  That is, if we stopped the scams I assert that your cost for medical care (and health insurance) would come down by 80% in a day.  I'm utterly confident in this number, however, and I would like to give you just a few reasons why.

One, for instance, is the fact that virtually every eye-drop medication is intentionally designed to waste half of the drug prescribed.  If that crap was to be stopped and the companies were prevented from simply doubling the price per-vial by competition the cost of said drops on a per-month basis would instantly fall by half.  Remember, this is without any other competitive pressures of any sort being brought to bear -- it would simply result from putting a stop to the intentional practice by the drug companies of designing a dispensing device that intentionally and unavoidably causes you to waste half the medication by having it run down your face.

Never mind the fact that such a practice also likely causes some percentage of users to suffer side effects that are harmful when the medicine goes in places it isn't intended (like your sinuses and throat), which you then must pay more money to counteract or treat.

The second I've written on several times: Drugs (such as antivenoms for scorpion stings and snakebites) that are sold in Mexico OVER THE COUNTER for $100 or so, yet in the United States a few dozen miles north the exact same drug, made in the exact same factory by the exact same company is available only from a hospital under prescription and costs tens of thousands of dollars.  This crap is true for almost every drug with varying differences by nation, with the United States paying the most in essentially every case.  While the really crazy ripoff percentages come for drugs that are relatively rarely used (like snakebite antivenom) they often amount to 500% or more for "mainstream" pharmaceuticals, whether they be for Hepatitis-C, diabetes (insulin), high blood pressure or hundreds of other conditions including various forms of cancer. The only reason this situation persists is that it is a federal offense for you to cross the Mexican (or any other) border, fill a suitcase with said drug for cash and then bring it back to the US and sell it for whatever you can fetch.

The third is "CON" laws in many states that require before you open or close a medical facility you receive a "Certificate Of Need."  The board evaluating your application?  It's made up of the owners of the existing medical facilities in the area.  This, along with other aspects of price fixing, is largely why you can literally fly to Narita, Japanhave an MRI done (for cash) and then fly home while spending less than the local imaging center charges you for the exact same scan and reading of same.  You are literally bilked out of anywhere from 5-10 times the cost in that first-world, first-class nation for the exact same thing.

Then there's The Surgery Center of Oklahomawhich I've written on several times.  They're a cash-based surgery center that will give you a price, soup-to-nuts, for a procedure just like the corner grocer does.  Hospitals and doctors for years have said you "can't" do that with medicine; this organization has proved that's a lie.  They not only do it their business is thriving.  Because they have quoted you a price and that's what you pay they also have every incentive not to screw up and give you an infection while there.  A traditional hospital gets to and does bill you to treat an infection they gave you while you were in surgery.  That incentive for them to not screw up is reflected in outcomes: The Surgery Center posts their infection rate and on a typical year it's twenty-five times lower than the national average.

Most of this is "hidden" from you through employer-provided insurance, but the scam continues nonetheless. The average Florida family pays over $18,700 a year for "health insurance" irrespective of who writes the check and if it was a more-appropriate $4,000 you'd get the nearly $15,000 a year difference in your salary.

Cut the crap, America.  Not only does the medical scam in this country, all of which I remind you is illegal and has been for 100 years, which medical and insurance firms twice tried to claim exemptions from when sued, the cases went to the US Supreme Court and the medical and insurance firms lost both times, cost every single family in this nation $15,000 each and every year, or enough to make the mortgage payment on a middle class house it also results, if you wind up in the hospital, a risk of infection twenty five times greater than what a market system brings you.

If the robbery isn't enough is a twenty-five times greater risk of a bankruptcy due to infection caused by the hospitalor, in the extreme cases, your death enough to get you off your ass?  May I remind you that roughly 200,000 people die in this country every single year due to preventable medical screwups, and that's only counting the ones that aren't successfully hidden.  In fact this is the third leading cause of death in the United States!

That isn't enough to get you off your ass?  Go **** yourself with a rusty chainsaw.

Think there are no answers to this rampant scam and the death it brings?  The hell there aren't.  There are remedies available at both state and federal levels.  I remind you that virtually every state (if not every) has an anti-trust law roughly parallel to the US Federal law (15 USC Chap 1.)  This means state prosecutors can bring these cases too, and state legislatures and executives could demand they do so.  Either the States or the Federal Government could start right here with a one-sentence law and follow it up here.

County and local governments could condition the issuance of business licenses (without which no medical facility or drug store can operate at all) on the posting of prices and non-discriminatory billing.  They could do that right now via city or county ordnance and if they did it would resolve their budget problems as well as fixing health care for you, their constituent.  Instead they******you on property taxes and engage in financial shenanigans that ultimately will bankrupt both them and you.

They don't fix the problem instead of screwing you because you refuse to make this issue, which robs you of a ****ing house every single year, the political point that they must face and resolve or be ejected from office and shunned to the point that they can't even walking the family dog without facing birds flown in their face by everyone they meet, with your treatment of such bastards extending from the lowliest cop on the beat to the Governor of every single state of the Union -- and every government employee in between.

Let me know when you stop consenting to being financially raped, along with accepting a twenty-five times greater risk than necessary of being severely injured or killed as a direct result of virtually every hospital in the United States having every reason to not give a damn if they give you an infection because they profit from it when it happens.

You don't want to do it?  You don't care that you're robbed out of a house every year?

Fine.

I don't want to hear your complaints when the economy collapses as this scam exceeds the ability to extract any more money from the people, or at least as bad or maybe worse forced rationing comes into play, you need medical care of some kind and you're simply told "Nope", leaving you die in agony after bankrupting you.

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User Info Our Nation DESERVES To Fail in forum [Market-Ticker] * Item is pinned to the top of the forum
Flappingeagle
Posts: 2701
Incept: 2011-04-14

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It is like the mechanic who breaks an unrelated item on your car while correcting your first problem. Do you let him bill you for repairing the item he broke?

Flap

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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
No sign that housing, equities, or farmland are in a bubble- Yellen 11/14/13
Trying to leave the Rat Race to the rats...
Rollformer
Posts: 59
Incept: 2013-02-13

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Flap: You're right. At the end of "The Big Short", the Mike Baum character, upon announcement of the bailout say, "It's not that they didn't know, it's that they didn't care."
Aquapura
Posts: 673
Incept: 2012-04-19

South of Canada
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I'm firmly of the belief that nobody is lifting a finger because as-is things in America aren't that bad. Corruption in dee-cee? People just expect it and tune out the news thinking it doesn't affect them. Sure the productive class is getting robbed by the medical scam but nobody is hungry and credit is easy enough that many can at least live the illusion of being somewhat well-to-do. The poor get enough gravy from the gov't that they are not hungry and still get the iToys and what not. The lights still turn on, water flows from the taps and Amazon still delivers **** in 2 days. Gerald Celente has a quote that goes something like "When people have nothing left to lose - they lose it"

We have not hit that point and until that happens I think all of us that are in full agreement with our host are merely pissing in the wind with whatever we do. I do what I can for myself and those close to me. Thus far I haven't been able to convince close family, let alone friends or colleagues. ****, just talking about LCHF I get shot down because I'm not getting my data from a "doctor" or "nutritionist." They think I'm on the fringe and a kook...because they haven't felt pain yet.

My only hope is that the pain isn't in the form of a mushroom cloud. It's coming, that's one thing I'm sure of.
Flappingeagle
Posts: 2701
Incept: 2011-04-14

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It really seems to me that the vast majority of the country is making a fool's wager without realizing it. The country is not bitching/complaining/rioting constantly until things are fixed because everyone is trying to protect a dollar while risking (ensuring?) losing $10,000.

That is the opposite of what a sane person would do.

Good business is risk a little with the chance of making a lot. Asymmetric in the positive direction, not in the direction this country is headed.

On a side note here, have you guys been following the events in Catalonia? I am wondering what if anything will happen today because the separatist leaders have suggested that everyone go pull their money from the banks (I think they are suggesting pull 500) today. To me, this is the first real shot fired because it goes right to the heart of the matter.

Flap

----------
Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
No sign that housing, equities, or farmland are in a bubble- Yellen 11/14/13
Trying to leave the Rat Race to the rats...
Rollformer
Posts: 59
Incept: 2013-02-13

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Flap: I think they are doing it 155 Euros, in protest of Spain invoking article 155 of the constitution. The twitter feed is here: https://mobile.twitter.com/i/nojs_router.... . 155 Euros isn't going to do much, but it's a shot across the bow.

A couple million people moving everything might make a dent. The whole Catalonia situation is a big news story that nobody is covering. Probably because someone here might get the idea.
Rufey
Posts: 10
Incept: 2009-03-31

West side of the rockies
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The majority do not care. Republican members of Congress have said they want to repeal Obamacare since it was made law. When they got control of both houses plus the presidency, should have been a no brainer. And yet here we are. No one wants to be the one to blame when the economy tanks, which I believe is the fundamental problem. We've dug the grave so deep that there is no way out without severe economic pain.

There is more press about how Russia influenced the 2016 election than anything. The US would never influence other country's elections... oh wait. The Russian narrative is getting old. Whats the end game? Imprison Russian officials for doing what the US themselves do on a daily basis?

Then we have LEO who can't seem to get their story straight. The most deadly single shooter incident in US history, and they cannot even provide a consistent timeline of events, much less explain why it took over an hour to get into the hotel room. The hotel security guard finally broke his silence, on a daytime talk show of all places.

Not to mention missing very obvious red flags that, if taken more serious, may have altered (or prevented altogether) the events of 9/11. The government apparatus is simply too big to do anything meaningful.

Every election I hear "vote them all out", and yet, the incumbents usually get voted back in, rinse and repeat. Orrin Hatch (R) Utah said during his first run for the Senate in the late 1970's that the incumbent has been in too long (I think it was 2 terms) and it was time to send him home. 35+ years later, Hatch is still in the Senate. He's considering running one more time. Everyone I know thinks its past time he "retire". If he does run, I bet he gets re-elected. People get to the polling booth and either vote straight party, or, as they go down the ballot, select the people they've heard of before. No critical thinking. I haven't voted for him for ages.

My household is single income - my wife does not work, by choice (well, being a mom to our kids is work). Every day I see my purchasing power get eaten by things that are not measured in the official "inflation" numbers. Families around me have kicked the can down the road by turning into two income households. Increasingly though, that is changing back to single income due to the "costs" of having both parents work - daycare, nanny, professional house cleaner, etc.... Those costs are starting to exceed what the 2nd parent is bringing in.

There is no arguing that the music will stop soon. The only thing left to debate is how bad it will get.

In my small sphere of influence, I'm constantly shocked at how little people know about whats going on in the world around them. They won't wake up until its too late. Only when there are shortages of food, gas, the necessities, will they start to understand.

Thanks Karl for all you do. As with you, I find it very difficult to make any traction with anyone on most of these topics. I just can't see much change happening until people wake up, and by then it'll be too late.
Click
Posts: 35
Incept: 2017-06-26

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Karl,

You've done a fabulous job by hammering away at the Medical Industrial Complex and exposing the recalcitrant fraudsters therein...

What am I going to do personally? Say away from crowds. That's what.

Take for example, Houston. Houston used to provide our family with so many useful advantages that offset being in the middle of a crowded city. Houston used to have some of the finest healthcare and other quality of life benefits of big- city living, but now not so much.. In fact, Houston is turning into a pest hole...

Stay away from crowds, because crowds no longer provide the economic advantage of a shared infrastructure --- including hospitals...

Better to live in less crowded environments, because the Marxists have ruined one city after another..

Montesquieu had it right when he pointed out that tyranny thrives off of a crowd and personal freedom is easier to obtain in remote areas where it doesn't pay to set up a federal beauracracy or send agents to enforce unjust laws.

I'm taking a preventative approach to healthcare by breathing fresh air, drinking and bathing in untainted water, sleeping outside in a pristine and natural environment and growing and raising as much food as I can so I know just what I'm eating.

Stay away from crowds is a safer, better way to live. Yeah, crowds are sometimes necessary, but best avoided...

Keep up the great work, Karl. Love your work..
Rjazz117
Posts: 18656
Incept: 2007-09-11
A True American Patriot!
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Great piece, Karl...as usual.

I'm going to meme the **** out of it, and spread it everywhere like a plague.

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Rotoranger
Posts: 5
Incept: 2013-12-31

Richmond,Virginia
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Hi Karl and all readers,

Well.....the day has finally come. Yesterday I got *THE LETTER* from my Anthem Health insurance carrier that was either going to make me explode with anger because of an increase in premium cost, or it was going to be canceled entirely. Anthem decided to pull out of the major population zip code centers here in Virginia, so I no longer will have them as a carrier choice come January 1, 2018. The zip code areas that they decided to continue service will get 84% premium increases. I actually was not that angry, but more alleviated. Because I had decided way back that I wasn't going to play this extortion game anymore beyond this year. Anthem just made the decision easier. The question now is, what to do ? Anthem had the least expensive policy premiums of any other carrier here in Virginia. I checked the new rates for zip codes that can continue with them. The exact same policy I had, increased in those areas almost double. From $1382 per month for 2 non-smoking adults, no dependents, to $2540. That's $30,480 per year. My wife and I are both 61 and in good health overall. We both carry a tad more weight than we should, 10 to 20 lbs, but basically in pretty good shape. I was in the plumbing service business for 27 years self employed, so it kept me pretty healthy, because the plumbing business is not for sissies. ( at least not when I was in it, it's gotten a little more soft because of technology, but still it has it's physical challenges ) My wife still works as an independent self employed supplemental insurance agent. Ironically, she can't get health insurance any cheaper than anybody else outside the industry, because she's not in any employment group. Supplemental policies are add-ons to your health insurance. Aflac stuff, like accident, cancer, deductible coverage, etc,etc. Soooooooooooo........as of now the plan is to stay as healthy as possible, bank the premiums on our own and pay cash for any future health care visits until we figure a way around this mess. Four more years and we can get on medicare. If it's still there by then.

Karl, you've been an institution of knowledge to me. I read everything you post as much as I can. You saw this coming when little others did. I can't even watch the main street media anymore without a critical inner voice asking what kind of sheeple lies are they trying to get away with now ? I have so much distrust with the District of Corruption (DC) these days, it makes me want to expat the country and move away. Please continue on as much as you possibly can to get the messages out here. There are people listening and on-board with your rants. This will be a major wake up call here in Virginia. For now, I'm just gonna sit back and watch the wave start to curl over.

Thanks Karl
Tickerguy
Posts: 150385
Incept: 2007-06-26
A True American Patriot!
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Quote:
This will be a major wake up call here in Virginia.

Don't bet on it. Just had a candidate I am working with basically play the "it's too hard" card; good thing it was before I had committed much.

Yes, it's hard. But if the price doesn't get you the 25 times higher risk of being given a serious infection (or even DYING as a result of it), which you then get billed for, damn well ought to. I now know TWO people that have nearly been killed by this and one of them was nearly killed twice (two separate instances.) The tab on EACH of those people is EASILY over $500,000. 200,000+ Americans a year die as a result of this **** (after being bankrupted, if "uninsured") and it should be 1/20th of that number, roughly.

The third leading cause of death in America and rapes every family out of a house every year and nobody gives a ****.

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Winding it down.

Tickerguy
Posts: 150385
Incept: 2007-06-26
A True American Patriot!
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Two days, not one reply on any sort of actual action.

As promised, topic locked.

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Winding it down.
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