Job-creation weakens, but unemployment rate down
Posted by richrobinson 12 years ago to The Gulch: General
I guess we are stuck with this anemic economy for a while. Its not getting better but there is no sign of policy changes.
SOURCE URL: http://www.cnbc.com/id/101131915
You want them to admit they're wrong and we're right? If that were true the next logical step would be to fold their tents and steal away in the night, and no way are they leaving the trough.
A lovely thought, though....
We were facing a failure of the banking system five years ago. It wasn't caused by President Bush. Gov't meddling in the RE market by tacitly securing mortgage-backed securities and promoting "home ownership" played only a small role.
Now the economy is expanding. It's good but not great, which is not a bad thing; we don't want speculative bubbles. The stimuli, bailouts, and QE, which happened during Bush and Obama, helped mitigate the recession but at a high price. The increased borrowing just pushed off the problem, mitigating the recession at the price of lower growth.
There's a whole industry of people aimed at making people think gov't policy drives the economy. It's really the little decisions we make to find a potential client and show them a solution and then to hire people and get them energized to work on that solution.
On that though, I'd better go back to making the economy happen. :)
Regards,
O.A.
Look to the Canadian health system, to see what happens to you if you try to pay for your health care out of pocket....
When my wife was expecting a baby, her friend's doctor told her she could only have one ultrasound. We thought this was a medical issue. It turns out her plan only _paid_ for that much, but she could have as many as she wanted. We were not going to meet our deductible, so our plan's opinion didn't affect us at all. We still have a similar plan with a similar deductible. We still save the max amount in an HSA each year, knowing there are expensive treatments out there they we may one-day need. The only way it affects us is our income taxes went up, but probably not much for 2013 b/c it's a lousy year for us compared to 2012. I don't see how what the gov't's doing matters. People still give us money for circuits and legal help. We still hand that money to local doctors when we need to. We still never come close to our deductible; knock on wood. I don't see the big deal.
This tax affects EVERYONE that has a health care insurance policy, since this tax is calculated into the price of the coverage...just as all medical procedure costs play a roll in what you pay.
And since Obama has made sure that everyone has to have coverage, no one can say that this tax doesn't affect them....
I didn't know there was a tax calculated into the price of coverage, but I knew there was a large de facto tax due to insurance companies being required to cover per-existing conditions and due to their having to pay for preventative medicine prior to meeting the deductible. So even if you're wrong about tax, which I think may be the case, it's moot b/c premiums are going up. My family's premiums will increase about 50% b/c our health was good at the time of underwriting and still is.
This ban on medical underwriting is a better way of spreading risk than what we had when many people had insurance tied to jobs.
Sorry...but I didn't dream this tax up.
And, sorry...you are absorbing it in any policy that adheres to the ACA.
I have seen too many Fortune 500 CEOs publicly state that the lack of leadership, and the advent of Obamacare, has put a damper on expansion. 'Hunker down', is the name of the game...from Wall Street to Main Street.
This isn't because of Obama, politicians, or an opinion about healthcare.
It's a herd of people solving problems and making decisions.
This is what Thompson and friends demanded of John Galt- a firm hand on the helm. They couldn't accept that no one at the helm, contrary to intuition, is what delivers the goods.
And what you are seeing is not reality.
There are too many correctives in place (IMHO) to go past the 50% line, but the blood letting will be fierce...and could give Obama the false flag he needs to call for martial law.
I also believe that this administration will prop up the market, at least until the 2014 election results are in. If the Progressives gain back the full Congress, a more gentle ease back will be effected.
The way I understand quantitative easing is that we print money and inject it into the market by selling government bonds. What happens when people stop buying these bonds? The government has to pay more to sell the cheap money, correct? Which causes our money to devalue or cause inflation. The big question in my mind is why hasn't this already began?
It's the Fed's version of Three-card Monte.
Thought I would get there first. (joking) ;-)