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2020-12-07 08:25 by Karl Denninger
in Federal Government , 360 references Ignore this thread
The Likely Future Path: YOU WERE WARNED*
[Comments enabled]

Back when Obama passed Obummercare as many call it, or the "PPACA" formally, I warned that this was nothing more than a bailout of an about-to-collapse medical monopoly system, and that the impact of this on a forward basis was to simply kick a can that was increasingly being filled with cement and eventually someone would stuff some nitroglycerine in there.

The other funny thing about Obummercare was the repeated claims that it worked.  Well, define "worked" please.  The simplest objective evidence of "worked" would be that the death rate per 100,000 people went down.  Did it?

Why no, it did not.

In fact the crude death rate per 100,000, according to the CDC, was declining from 1999 to 2009; it fell from 857.0 to 794.5.  In other words objectively measured Americans were doing better in the 10 years before Obama passed his "big bill."

But from 2010 forward, which, I remind you, was right after Obamacare was passed, it has risen since ever year and now stands as of 2019 at 867.8, or worse than it was in 1999.

So much for Obummercare "helping" people -- provided you define "help" as don't die.  I suspect most people would put "don't die" in the very elementary category of "works" in that if you can't accomplish that then you've accomplished nothing at all and the rest of the conversation is a waste of time.  Of course if "works" means make people more dependent or feed them more opioids or give 'em diabetes but then fill 'em full of drugs or make some people billions of dollars..... perhaps then it did "work."

I remind you that Trump promised to stop all this bull**** during the 2016 campaign (which I threw shade on and said he'd never do it, and in fact it's why I voted for Cthulhu in 2016) and that he had the power to do it too since he controls the Executive.  The Executive enforces laws. There is 100+ old law, specifically, 15 USC Chapter 1, that bears on this and it has twice been litigated to the US Supreme Court and found to apply.  Said decisions are, at this point, close to 40 years old and the law in question is not just a civil liability statute -- it carries felony criminal penalties for violations.

Exactly zero prosecutions have come from that long-standing pair of decisions.

Trump did zero to resolve this issue over the last four years.

This last fiscal year (ending September) this is what Medicare and Medicaid spent:

 

And this is what it took in via taxes:

 

You can see there's a "small" problem; only about 15% of what is spent is being collected in health-care specific taxes.

Medicaid is a "gimme" program and thus on the Federal Budget (and ability to deficit spend) already.  Medicare is not.  It is barred by law from spending money it does not have the ability to convert from bonds purchased with previous tax receipts or that which comes in via current tax receipts.

Approximately seven dollars in ten that it spends are not funded with current tax receipts.

When that "held back" conversion capacity is exhausted which will happen in about 2-3 years this means that under current law it would look like Medicare can only pay three dollars of ten currently being spent.

In reality it's not that bad since there are premiums collected that are an offset but it definitely isn't good!  There are all manner of confounding factors that nobody can value with complete accuracy, with one of the really big ones being adverse selection due to all the Advantage plans.  Specifically, those plans allow you on option to pay one premium and they then "subsume" all of Medicare you would otherwise pay a premium for in part with the rest being paid by your earned credits -- Parts A, B and D.  Normally, if you've worked enough "A" is "paid" but "B" and "D" have premiums, and "B" is an 80/20 plan while "D" has deductibles.  Advantage plans roll that ball of yarn (which the cat has strewn all over the living room) up into one thing -- that is, one bill -- for you.  The problem is that they are wildly subject to adverse selection (in my mother's case, for example Advantage was materially cheaper than paying the "B" and "D" premiums directly, yet had lower out of pocket cost making it appear she got something for nothing) and this means that for many people they are a good deal now but if their prices spike people will abandon them and go back to traditional, which they can do on any annual boundary.  In short "Advantage" has been a big stabilizer for Medicare; if it gets hammered by adverse selection then all that boomerangs right back on Treasury.

Now obviously if the program gets fiscally destabilized and cannot pay if you're on Medicare you will get an effective zero and thus if you need it you will die.

This leaves Congress only a few potential choices:

  • Ignore it and let it blow up.  Rather unlikely, right?

  • Break the medical monopolies and drop cost by 80%, making it all work.  Good luck with that; Trump did not do it and neither did anyone else despite having 40 years to do so.  Biden and Harris will NOT choose that path and neither will Pelo****yousideways, Schuithead or Mc****ell.  I've had a very effective plan to do this out on the table for roughly a decade; notice it's gotten zero debate among the "mainstream" media or politicians.  Gee, I wonder why when it means the end of financially raping Americans....

  • Attempt to increase tax rates enough to cover it.  That would be a rough tripling of the Medicare tax immediately and permanently.  This would ass-pound the lower and middle class American, as it would roughly double the lower-class American's effective tax rate.  I think you can figure out how popular that would be and thus what the odds are of that path.

  • Try to force all or effectively all of it onto private payers.  This is illegal under present law for Medicare.  Medical providers claim that Medicare pays "under cost" but that's a lie; if they really believe it there are formal means to contest it and not only win but get a penalty for CMS doing that.  Medicaid does not have that constraint and is part of why we have the monopolist system on the private side with no prosecutions.  Congress could remove the Medicare prohibition with a one-sentence bill (or hide that one sentence somewhere else) but doing so could easily collapse private health care entirely.

  • Amend the law to allow Medicare to spend "whatever", backed and received or not.   This is almost-certainly what they will choose to do since everyone will think it's a "save."

Note that that last choice puts roughly $700 billion or more (perhaps as much as a trillion) a year on the deficit on a permanent basis, escalating at about 10% annually, compounded.  Down that road lies massive inflation within a decade, the end of the lower and middle classes in America and both riots and political upheaval, maybe including assassinations or even civil war.

But in the interim I can make a number of predictions for a Biden/Harris administration (and yes, folks, unless something material changes in the next few days, stolen election or not, Biden will be President) that I have a decent degree of confidence in relating to tax and spending policy, all of which I expect can and will be passed.  Indeed even if somehow there are a series of injunctions that issue and hard proof of a stolen election emerges, and Trump has a second term, that changes nothing with the above nor the budgetary reality.

All of these items are going to be bad news for many people -- in fact, basically everyone other than the Jeff Beelzebezos' of the world.  Remember, the problem here is thou shalt not let the ratings agencies downgrade us, therefore we must convince them we'll get the money somewhere.  Let's go through some of the very few that would raise enough to get their attention and perhaps make them back off.

I expect all of this to happen within the next few years.

1. Medicaid.  Right now there is a limited "lookback" on Medicaid if you use it and then come into having assets later on.  This is going to go to a 100% lookback all the way to birth and it will not be just the Federal Government who demands and gets this, it will also be the states since Medicaid is a program only partially funded by the Feds.  In short if you use Medicaid the government will track every dollar spent from the moment you first scream and have a priority lien on anything you acquire as a windfall or when you die.  That recovery will be indexed to actual (not CPI) inflation too -- count on it.  In short if you are on it and use it forget about leaving anything at all to anyone when you die.  Most lower and middle-class people won't need a will anymore because none of your heirs will get anything more valuable than your mutt dog or cat.  This change is dirt simple to sell to the "woke" masses since it will impact nobody who is actually poor as they have no assets when they die.  But anyone who winds up on Medicaid (e.g. as a young person) and then "makes it" will get it up the ass later on in life.

2. Medicare.  "Advantage" premiums are going to skyrocket, rising by 100% or more within the next few years and they will keep going up at 15-20% a year forevermore into the future too.  At the same time rationing is coming.  If you ate, drank or otherwise destroyed some part of your body through lifestyle choices there will be no soup for you.  No more "free" joint replacements for anyone who is overweight or obese, for example.  No more heart caths if you have an abnormal A1c and similar.  In addition I fully expect the above Medicaid lien structure to be implemented in Medicare as well beyond whatever you personally paid in (with your pay-in not indexed, of course) which is where it will really be able to get something back since most people who are on Medicaid never wind up with much to seize.  This is not true for Medicare; all the nice "somewhat well-off" people who retire to Florida's Villages are going to find out that they don't need a will either because everything they have when they die will be immediately seized to cover the stent and two new hips they had installed thinking they had "won."  Sorry, once you're dead you can't bitch or vote anyone out of office anymore -- well, unless you live in Michigan.  Be aware that there is a limited Medicare benefit for nursing homes; 100 days per benefit period, which includes any time spent in a "regular" hospital.  Since the median life expectancy in a nursing home is six months many people wind up with Medicare paying for most or all of it.  The adoption of a "lookback" period for Medicare will wildly whack most middle-class people's estate planning to the point of making it entirely unnecessary.

3. If you have a ROTH anything, you're ****ed.  I have warned people about this repeatedly since the ROTH first showed up; you are taking on blind faith that Congress will not tax the withdrawals.  Oh, I know, you say they "promised."  Well, they did and they will have lied.  You can count on it.  There's not a thing you can do about it either; the Supreme Court has repeatedly ruled that such political promises are unenforceable and not contracts.  This is why the traditional IRA and SEP/401k are preferable; you will still get taxed on the withdrawals but you can't get taxed twice because you didn't get taxed on the front end, and on the Roth you did and thus will.  Go ahead and try to claim it's unconstitutional; you'll lose as corporate dividends have been taxed twice for generations and this specific sort of issue of political promises on taxation has been litigated before to the USSC.  You will lose and Kamala will use your tears for a sexual lubricant while laughing at you for providing them to her.

4. Exactly nothing will be done about the medical monopolists until and unless there are credit downgrades on the US.  If that happens we might well see some action in that regard, and it's entirely possible -- but likely not for a few years.  The various agencies will do their level best to avoid that, but eventually, if #1 and #2 don't stop the arterial bleeding they will have no choice when we keep putting 20% or more on the national debt every year on a sequential basis.  You can make an excuse for it this year due to Covid19 but not on a forward, every year basis.  No way, no how.

Note: All this except possibly the downgrades comes out of the next Administration from Biden and Harris.  Congratulations folks; you ****ed yourselves and that's just tough ****.  Oh by the way if Trump manages to remain in office somehow add riots to all of that; no, he's not going to fix a damn thing either.

He had four years and didn't, why would you believe he will now?  Take your "swamp" nonsense and shove it up your ass sideways; as head of the Executive he needed exactly zero cooperation from anyone else to solve this problem.  As someone who has run businesses for decades he knows damn well what the problem is as I'm absolutely certain he modeled it exactly as I did back in the 1990s and knew then, as he knows now, there is exactly one way to fix it.  He had the power to do so and refused with malice aforethought, so his place in Hell awaits for he's just as responsible for what's coming as Obama, Bush and Clinton, among others.

If you're a younger American and expect something from your dear old parents when they die you better have a nice talk with them and see if they intend to go take a walk in the woods and blow their own brains out when, not if, they start to consume large amounts of medical services.  I'm not kidding -- if they don't intend to do that or you don't believe they will do it no matter what they tell you you had better expect to get a big fat goose egg in terms of inheritance unless your parents have tens of millions of dollars or more.

We're talking about the 99.9% of Americans here who typically would get something -- you will get zero when your parents die as the government will attach and seize all of it before their body has reached room temperature.

There are plenty of people -- a VERY material percentage -- who rack up six-figure Medicare and Medicaid spends, and a not-inconsequential percentage who rack up 7-digit and better numbers in the last years of their life.  This exceeds the value of nearly all estates so the number of people who actually will get something as the "next generation" as the current one dies off is going to shrink to an effective zero.

Hope you folks all like the ride because this is what you bought the ticket for -- and yeah, the first parts of it are very likely to show up during the next administration, with a possibility you get all of it right in the face.

By the way if you're one of those younger people, say, under 35 or 40?  If you think us older folks are going to rise up and go wage war, politically or otherwise, while all you've done and continue to do is burn down the local black-owned bar while screaming "black lives matter" you got another think coming.

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Printlife
Posts: 121
Incept: 2018-05-22

CA
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Thanks for making me rethink Roth vs. 401k. The optionality does not make up for the risk of confiscation.

Otherwise, all one can do is keep healthy by lowering A1C and HSCRP.
Billhrny
Posts: 147
Incept: 2019-06-19

Northern Virginia
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I'll add my suspicions on a couple more things....

- They will do something about student loans...they need to re-ignite borrowing for the Millennials and Gen Z...so they can buy houses and charge more on credit cards to feed our debt-based financial system. But I suspect that any amounts forgiven will be recoverable from the estate, or possibly withdrawn as a lien against future Social Security earning.

- They will try to do something about the cost of veterans care. They have improved, under Trump's administration, the quality and availability of health care for veterans...but there are a couple programs that are costing them/us a ton of money including payments for PTSD and cherry on top VA loans. I suspect they will reign in disabled veteran claims to those of physical disability only someday...I know many veterans that gloat of their disability check for "PTSD." These guys are retired from the military and make good coin in industry (I work in defense), and they function just fine. Shell shock is one thing but there a quit a few vets collecting for disabilities that don't seem to exist. They function just fine in high-stress proposal rooms, boardrooms, and I have went to the shooting range on weekends with several of them....it doesn't seem to give them problems. This is nothing agains vets, I thank you for your service.
Aquapura
Posts: 2469
Incept: 2012-04-19

45th parallel
Online
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Bravo, great ticker. smiley Although I dislike the message, burying my head in the sand won't make reality any different.

Prior to 3 Nov. 2020 I did some self reflection and resigned myself to the fact that we were ****ed no matter what the results of the election are. The utter failure of Trump to actually change anything - especially as an outsider who was allegedly so dangerous to the establishment - sealed the deal for me. After Bush Jr. I told myself I wouldn't get fooled again...well we had four years of more deck chair rearrangement. Fool me once....

Oh yeah, Trump was likely better than what we would've had with Hitlery in charge but as the old saw goes...Obama gave us Trump, well, Trump gave us Kamala. **** me sideways. This is not a game I want to be a part of.

So, on election day I put in my protest vote against my muzzie congress-**** and checked boxes on other down ballot things but I left the top line blank. What the **** is the difference?


Bodhi
Posts: 4521
Incept: 2008-02-23

N. GA
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I never converted to a Roth as the taxes would have been higher since my business was doing well the past few years. I'm now past full retirement age (68). I pulled the money out of my two small IRA accounts this year due to the fact business has been pathetic since about May, figuring I'll be in the lowest tax bracket for tax year 2020.

My larger SEP-IRA I'm thinking about cashing out after the first of the year. Not so much because I think the Feds might confiscate it, but they could initiate withdrawal limits to tie up my money, or raise tax rates. Since the economy looks to implode by 2022-2024 I want to get the money out well ahead of time, assuming the timeline holds.

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Ultimately, saying that you don't care about privacy because you have nothing to hide
is no different from saying you don't care about freedom of speech
because you have nothing to say. ~Edward Snowden
Acebarefoot
Posts: 1677
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The bottom line is that they are going to come up short on $$. Unfortunately, what you have to do is say to yourself....

"When they come looking for more money, what do I have that is most likely in their crosshairs."

Unfortunately, I believe the answer is: "Everything"

I would still want to have assets, just know it will be a chess match as they come for each of your pieces.

I would rather have "many" pieces on the chessboard, than only have "1" piece you are counting on for everything.
Workerbee
Posts: 3928
Incept: 2009-03-18

*shall NOT be infringed*
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Karl wrote..
By the way if you're one of those younger people, say, under 35 or 40? If you think us older folks are going to rise up and go wage war, politically or otherwise, while all you've done and continue to do is burn down the local black-owned bar while screaming "black lives matter" you got another think coming.


****ing A my little snowflake daughter!

Great Ticker Gen!

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"Keep pushing ****ers, you'll find the trip wire eventually"
~ Quik49

"This is the part where you find out who you are"
Billhrny
Posts: 147
Incept: 2019-06-19

Northern Virginia
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Karl, Do you think they will go for a grab, even if it's a percentage, of standard 401k/IRA accounts? Or will that just be taken care of in higher taxes on withdrawals?
Tickerguy
Posts: 179086
Incept: 2007-06-26
A True American Patriot!
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@Billhrny - No, they won't do that as the moment they do the deposits into them go to zero immediately and permanently.

The most-likely "**** you" side is simply going to be on tax rates and reneging on the ROTH promise, plus getting rid of some of the capital gains preference. If I had to guess it would be that for ordinary people capital gains will be treated as ordinary income. Of course they'll find some way to keep the hedgies and such protected, but you as an ordinary prole who have had a very nice differential are going to see that disappear.

Remember that the top ordinary income marginal rate was 70% not all that long ago and HAS BEEN as high as 94% in the US (1944.) Don't think for a second they won't do that sort of **** again but there WILL be ways around it for the politically connected. For you and I? Nope; my best guess is that somewhere between $100-200k you're going to get butt****ed so the idea of retiring in "the lap of luxury" for an ordinary investor or other person is just plain old fashioned ****ed and done.

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I don't give a flying **** if you're offended.

Dmj625
Posts: 2231
Incept: 2010-03-01

NOLA on assignment to NOVA
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@Tickerguy - Question: If I remember correctly you previously mentioned that the US could say FU to China and cancel all the Treasuries that they hold. Biden/Harris clearly would not do this, but if Trump somehow pulls this out and wins. Could he place responsibility Covid and infiltrating the US gov't and elections on China and use that as a basis to cancel the Treasuries?

I coming to believe that war with China is inevitable anyway.

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Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it. Mark Twain
Tickerguy
Posts: 179086
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A True American Patriot!
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@Dmj625 - There are all manner of things that a nation CAN do when it comes to its sovereign debt. None of these sorts of actions are "free", of course.

On the other hand the US is FAR better situated to operate without outside requirements than most nations. The adjustment would be ugly but we can do it. Many other nations, China included, cannot; they literally cannot FEED their people. The challenge is inside the line that denotes someone choosing to nuke everyone, either through a pattern of escalation that gets out of hand or by pure intentional act as a result of spite. Neither can be entirely discounted as possible.

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I don't give a flying **** if you're offended.
Augeries
Posts: 264
Incept: 2019-09-26

North of Boston, but not North enough.
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So is there any way around inheritance liens via gifts and such? Say my parents spend their money on buying **** for the kids and grand kids, material goods? (ammo lol). I'd like to help them deny the .gov of as much as possible. I'm sure they'd be in for it.

They've spend a lot of money like putting us thru college, vacations, to the house, how the hell does that sort of **** figure in? If we sell the house before they die, and they hand us the money off the bat, what does the .gov do? I'm seeing a lot of avenues for the .gov to do some ass ****ing. For sure they'll make it complicated enough that the average american won't be able to process it and thus won't really notice, not in the way they should.

I will for sure be adjusting away from ROTH. Finding this forum was one of the top highlights of my past couple years. I always learn something new, and it's usually something incredibly useful, from this Roth ****, to sugar alcohols as mouth sanitizers, all the way back to the truth about the 737 Max (which is how I found this blog). To TG and friends, thank you for sharing your knowledge for free. I am very grateful.

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I'm Team Virus. It Deserves to Win.
Most Lives Matter. Timothy McVeigh Did Nothing Wrong.
I Hate The Antichrist. Death to the New World Order.
The World is Quiet Here.
Zappafan
Posts: 5628
Incept: 2007-11-30

Atlanta
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The billion dollar question in my mind is what external force stops the borrow-and-spend binge. Maybe once the Fed owns 30-40% of the "treasury market" - at that point we will have gone full Japan and there will be no treasury market, other than what the Fed has cornered. Once whatever is left of the "market" for US treasuries catches wind, they'll sell into the Fed's bid.

This could accelerate rapidly and happen very fast, possibly during the Xiden-Fellatrix administration.

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The illusion of freedom will continue as long as it's profitable to continue .. @ the point where the illusion becomes too expensive to maintain, they'll just take down the scenery, they'll pull back the curtains, they 'll move the tables & chairs out of the way & you'll see the brick wall at the back of the theater/FZ
Tickerguy
Posts: 179086
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@Augeries - There will likely be some limited ways around it to a degree but most of them will be impractical for anyone who doesn't have tens of millions to work with. It's a numbers game; they don't care about whether the 0.1% can evade it, in fact they like that since those people are "important."

All the "soak the rich" proposals, where "rich" includes people like Bezos, are non-starters simply because there aren't enough of them. You could confiscate ALL of their wealth and would get nowhere, plus it's a one-time shot as they can shove it up the IRS' ass sideways by simply leaving and making their money somewhere else or distributing it around and giving the finger to the government. What are you going to do to them when you get down to it? The guy who owns a 300' yacht doesn't give a wet crap about your bull****; if you******him off enough he will reflag it (if he hasn't already) and go live on it, giving you the bird and you've got exactly nothing you can do to him as he'll do it entirely within the law. But -- he stops generating taxes in the US and thus all your screaming just cost you a ****-ton of money. Thus it never happens despite all the screaming to do it and the claims that they are; not only does it not help the blowback from them would be immense and they can make it hurt.

That's why the ass****ing always falls on the "nouveaux riche" down to the "doing good" and whatever people think of as "upper to middle class." The working poor don't have enough to take without them being immediately tossed into the street but that range from the 40% to 99% most-certainly do and since they're the wild bulk of the actual cash it's where the ****ing always is and will be focused.

Those who think they can "work the system", which is most folks, are going to find out the retroactive clawbacks are murderous. That's the difference; most of the so-called "nouveaux riche" really aren't wealthy at all; they're levered up to their eyeballs and then run up a six figure medical bill that would whack half their estate if they had to pay it but Medicare got the bill so they figure "ha ha ha look at me I got you!"

Bad guess *******; Daddy Government is going to grab all the equity remaining when you die.

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I don't give a flying **** if you're offended.

Purplefang
Posts: 567
Incept: 2010-03-28

Oklahoma
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You will own nothing, and be happy.

Billhrny
Posts: 147
Incept: 2019-06-19

Northern Virginia
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@Augeries - For some reason the good old fashioned gold in a safe deposit box is sounding more realistic....before you croak just do unlock, pick it up, and transfer from your box to your heirs.
Asimov
Posts: 131415
Incept: 2007-08-26

East Tennessee
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I read recently (didn't check the numbers) that taking 100% of every US billionaire's money for government use would total a bit over 2 trillion and fund our nation for 8 months.

That's why soaking the rich won't ever work.

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It's justifiably immoral to deal morally with an immoral entity.

Festina lente.
Tickerguy
Posts: 179086
Incept: 2007-06-26
A True American Patriot!
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Correct.

Thus the person who gets soaked with be.... THE REST OF US.

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I don't give a flying **** if you're offended.
Purplefang
Posts: 567
Incept: 2010-03-28

Oklahoma
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Just give up everything including your rights, your freedom, your privacy, and get the vaccine as soon as possible. All your worries will be over and everything you need will be free. Never have to work again just sign up for your $666 monthly UBI. Living in a 100 sq ft pod talking to alexa all day will be the new normal. Drones can even administer all your required vaccinations.
Dmj625
Posts: 2231
Incept: 2010-03-01

NOLA on assignment to NOVA
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@Asimov - It's worse than that - Bezos and Musks wealth would be destroyed if seized and liquidated. Matter cannot be created or destroyed, but wealth sure can.

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Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it. Mark Twain
Yurtfreak
Posts: 12
Incept: 2019-09-18

Phoenix, AZ
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Possibly my most favorite Ticker of all time - thanks, Karl.
M1919a2
Posts: 862
Incept: 2015-07-18

Washington
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Oh yeah!

Trump fixed the most important failure of the American nation.

Education! HOW can you make that statement you say - simple!

The wakening of Boobus Americanus!
Tripseven
Posts: 195
Incept: 2012-04-26

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It's already happening...reverse mortgages are pure extraction games!!! Expect that chicanery to ramp up exponentially that fans out across the board.

The only fun factor will be watching middle class Dems get stripped naked too...they can only appease their base for so long before the tide turns...then she goes hot cuz you cannot UBI forever bitches.

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**** it...I give up. Stupid is everywhere now!
Greenacr
Posts: 327
Incept: 2016-03-15

Northern Ohio
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Probably a little different take here.

My parents who have passed within the last 10 years left me nothing. My wife's parents (who came from nothing) left us a small inheritance. Other than that, what my wife and I have accumulated from a wealth standpoint, has been all on us the result of our hard work. My parents raised me to be out the door at 18 with the nothing but the clothes on my back. Nothing more was promised, nothing more was given. Their level of support was only that which got me to that pointof departure.

All of my children are college educated, have good jobs and are financially far better off than I was at the same time period. I have paid for their college, help set them up in life with furniture, down payments, cars and helped pay for their weddings. I have made it clear that if there is any inheritance left over that they should feel blessed but it is not a guarantee because I will either spend it or Uncle Sam will take it. They are okay with that.

I think there are ways to transfer wealth to your children before you die that Uncle Sam can not claw back. I can buy or transfer to my children physical assets that they need or could use that they would otherwise have to purchase themselves. If I buy one of my children a lawnmower, Log Splitter, give them cash, give them my guns/ammo.... who is going to know as I don't keep a record of it. In many respects I plan to share as much of this ahead of time as at least I get some say in how the money is spent/shared and would rather do it while I am alive.

If things work out right I also plan to have zero equity in my home when I go so that it's not available to Uncle Sam either. Last thing I want to do is leave my uncle any money when he is such a poor steward of what I have already sent him through taxes
Ee4fire
Posts: 624
Incept: 2011-03-24

Washington, DC
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I am almost of the opinion that Biden Harris will cause a blow up a lot quicker than Trump Pence. Maybe that is what is needed to get us back in the right track. If the blow up happens under Trump then market based economy in the USA will essentially be over. The Bernies, Kamalas, & AOCs will push everything towards socialism. Our heading into socialism is one of the reasons we are in this mess. The other is our leaders have given away our intellectual, real, and financial property to oligarchs, the Chinese, and themselves.

My thought against it Trump has done dome good things Hiliary would have never done. Stopped the caravans of illegals flooding over the border. Increased real wages for the average US Taxpayer, filled many court vacancies, and killed a ton of ridiculous regulations that killed job creation I am upset he hasn't fixed Obamacare, but he hasn't had much help from the squeamish Reps in CONgress either. The Romneys, collins', McConnells, Schumers, and Pelosis all need to be throuwn out of office, but it won't happen. I cannot believe Utah sent the idiot Romney to the Senate.

The best thing to do is die in debt and give everyone the high hard one when you go!

I keep wondering if the man upstairs has pushed the flush valve and we are in the spin before the **** goes down the drain or the flush valve is ready to be pushed. All this prosperity on borrowed money has to catch up at some point. The question is what do you do to keep what you have?

Nothing is free contrary to what the politicians and socialists say. We get the government we deserve.


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(Politicians), 536 commoditized temple monkeys pawing through the ruins of America in search of bribes. (The District of Corruption) works like a vending machine. You put coins in the slot, select your law, and the desired legislation slides out." Fred Reed. Some editting by me.


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