It’s beginning to be apparent that all we said about Obamacare was true. Nancy Pelosi said, “Let’s pass this bill first, and then we find out what’s in it”. Mr. Obama said “those who like their current coverage will be able to keep it” (not true), and “your coverage and quality of care will remain unchanged”, again (not true).
Soon millions of American workers will discover that they no longer have employer-provided health insurance because employers now realize that it is cheaper to pay government fines than to insure their employees. According to the House Energy and Commerce Committee several major companies have made internal calculations to determine how much can be saved by dropping their employer-provided insurance, paying a $2,000 fine for each employee, and leave their employees the option of buying government subsidized insurance in the newly created private health insurance exchange created by Obamacare.
Well, if the answer is what AT&T just came up with, you can kiss the 50+ year system of employer-sponsored health insurance, goodbye. Last year, AT&T paid $2.4B to cover the medical costs of its 283,000 active employees. By dropping its health plan and paying the annual fine for each uninsured worker, the cost will total $600M, leaving AT&T with a handsome profit of $1.8B. That may be better than the deal they got with Apple on the iPhone! A new income stream compliments of Obamacare.
The unfortunate thing is now that cost will be subsided by the government (or the U.S. taxpayer) across all income levels by those who pay tax. The problem is that with this new set up, low income employees (i.e. $30,000/yr) paying no income tax get an annual subsidy in the new insurance exchange of about $19,400, almost $17,000 more than the current employer-sponsored system as the government pays almost all the premium and most of the out-of-pocket costs. The employees making $100,000/yr get no subsidy in the insurance exchange.
In Massachusetts, people who get subsidized insurance from an exchange are put in health plans that pay health providers Medicaid rates plus 10%. That’s less than Medicare pays, and significantly less than rates paid in private plans. So now that we pushed 32 million more people into the system with Obamacare, and employers will eventually push millions more into subsidized health plans, and no one is doing much about adding new doctors, it looks like people with low reimbursement rates will have to get in the rear of the line.
My doctor just told me that her income went down by 1/3 last year and it may be 1/2 this year. If you have a government subsidized plan, how long will you wait until she gets to you? And how much time will she spend with you? So, Mr. Obama said this will lowers costs, with no change in the quality of your care. Do you believe it?
Sunday, May 23, 2010
Saturday, May 8, 2010
The Cap & Trade Heist - Part III
Thus far you’ve seen how the same clique of people is planning to benefit from Cap & Trade legislation. Former discredited executives from Fannie Mae and Freddie Mac, investors in CCX from the Joyce Foundation, the Tides Foundation, GIM, the Center for American Progress, and the Apollo Alliance, the group that actually wrote the $780B Stimulus Bill for Congress, and the 24 Czars who will be running all this from inside this administration.
Mind you, less than six percent of the people in this administration have had private business experience, most of them are socialist organization leaders, union thugs and bosses,evironmentalists, and academics. So now the stage is set to pass this misguided legislation that has already been shown in Europe to be a disaster. Spain adopted it and, like Greece, is on the verge of bankruptcy and will need to be “bailed-out” by the European Union and/or the International Monetary Fund (IMF) for which the U.S. has a 17% liability, 3x as much as any country who participates in it.
Remember the Cap & Trade (or Climate) bill passed the house in June 2009 as Nancy Pelosi hustled it through by a slim 7 vote margin. She was actually able to get 7 Republicans to vote for it, and then it quickly went on the shelf as it was apparent that it wouldn’t get by the Senate, so the emphasis went to Obamacare. Obama would love to get this passed in order to generate the estimated $600B/yr it would provide for the government coffers and help offset the $2+ trillion that Obamacare will eventually cost. This is in addition to the money in increased energy prices that you will bear.
The Progressives need Cap & Trade to complete their transformational agenda and they need to get it done before the November election when they will lose control of the House. The public does not want this bill, but that does not concern this Congress. Therefore, the stage is set for a fight that will eventually break the back of the Obama presidency. They have the investors the technology, and the cover in place, all those no-name individuals who lurk behind the scenes. What is lacking is the law that will open the way to make it happen.
Mind you, less than six percent of the people in this administration have had private business experience, most of them are socialist organization leaders, union thugs and bosses,evironmentalists, and academics. So now the stage is set to pass this misguided legislation that has already been shown in Europe to be a disaster. Spain adopted it and, like Greece, is on the verge of bankruptcy and will need to be “bailed-out” by the European Union and/or the International Monetary Fund (IMF) for which the U.S. has a 17% liability, 3x as much as any country who participates in it.
Remember the Cap & Trade (or Climate) bill passed the house in June 2009 as Nancy Pelosi hustled it through by a slim 7 vote margin. She was actually able to get 7 Republicans to vote for it, and then it quickly went on the shelf as it was apparent that it wouldn’t get by the Senate, so the emphasis went to Obamacare. Obama would love to get this passed in order to generate the estimated $600B/yr it would provide for the government coffers and help offset the $2+ trillion that Obamacare will eventually cost. This is in addition to the money in increased energy prices that you will bear.
The Progressives need Cap & Trade to complete their transformational agenda and they need to get it done before the November election when they will lose control of the House. The public does not want this bill, but that does not concern this Congress. Therefore, the stage is set for a fight that will eventually break the back of the Obama presidency. They have the investors the technology, and the cover in place, all those no-name individuals who lurk behind the scenes. What is lacking is the law that will open the way to make it happen.
Thursday, May 6, 2010
The Cap & Trade Heist - Part II
The people who established the Chicago Climate Exchange (CCX) claim that when it is fully operational it will be trading carbon emissions valued at $10 trillion/yr. To put that in perspective the New York Stock Exchange trades securities valued at about $14 trillion/yr. Wow! This global warming thing is really going to be good! Sounds like marketing to me.
One of the investors in this is the Joyce Foundation of Chicago. This foundation was established in 1948 by the Joyce family who generated their wealth in the lumber mills and retail building materials market in the Midwest and Louisiana. Its original mission was with religious, charitable, scientific, literary, and educational endeavors, but when the sole heir died the foundation was taken over by a liberal-minded Board which now emphasizes programs for welfare oriented causes, the environment, gun violence, money, and politics.
When State Senator Obama and his friend Valerie Jarret got on the Board, grants were provided that went to the establishment of CCX and other programs for entitlements in the in the South Chicago area for education and gun violence. Since the State is now considering bringing in the National Guard to stem the tide of violence in South Chicago this year and the fact that the schools are still among the worse in the country, these funds don’t seem to have been used effectively.
After Joyce, some of the other usual suspects surfaced to put money in the CCX. The Tides Foundation, which is chaired by Wade Rathke (ACORN) gets money from George Soros and the Center for American Progress. At the end of 2006 the Tides Foundation and Center had assets of $185M and passes money along to many radical and even Communist organizations so that it is “laundered” and donors can avoid a paper trail. More investors have surfaced for the CCX. Al Gore’s Generation Investment Management, LLC (GIM) is a London based management investment firm that focuses on the green revolution and various global warming projects. The Managing Partner is David Blood, former Goldman Sachs executive, so obviously money from credible organizations goes to GIM, since they don’t want to appear to be negative about all these money-losing green projects.
Now that the investors are on board we must have the technology for the CCX, so right after the Democrats took control of Congress during Bush’s second term, the infamous Franklin Raines, a Clinton appointee who was presiding over Fannie Mae (FM) used FM money to secure a patent for the U.S. CCX idea. You remember Raines, the housing bust can be laid in his lap for his sub-prime mortgage policies, and he eventually was discredited and exiled to the woodwork, but not after he pocketed $90M ($52M in bonuses) because FM results were so good during this fiasco. He now is a Board member of Enterprise Community Properties an organization dedicated to good housing for all deserving people. It’s trying to undo the mess he created, so I guess that’s why he is on the Board!
Well, we now have the investors and the technology. In the finale, Part III, let’s look at the law and the cover.
One of the investors in this is the Joyce Foundation of Chicago. This foundation was established in 1948 by the Joyce family who generated their wealth in the lumber mills and retail building materials market in the Midwest and Louisiana. Its original mission was with religious, charitable, scientific, literary, and educational endeavors, but when the sole heir died the foundation was taken over by a liberal-minded Board which now emphasizes programs for welfare oriented causes, the environment, gun violence, money, and politics.
When State Senator Obama and his friend Valerie Jarret got on the Board, grants were provided that went to the establishment of CCX and other programs for entitlements in the in the South Chicago area for education and gun violence. Since the State is now considering bringing in the National Guard to stem the tide of violence in South Chicago this year and the fact that the schools are still among the worse in the country, these funds don’t seem to have been used effectively.
After Joyce, some of the other usual suspects surfaced to put money in the CCX. The Tides Foundation, which is chaired by Wade Rathke (ACORN) gets money from George Soros and the Center for American Progress. At the end of 2006 the Tides Foundation and Center had assets of $185M and passes money along to many radical and even Communist organizations so that it is “laundered” and donors can avoid a paper trail. More investors have surfaced for the CCX. Al Gore’s Generation Investment Management, LLC (GIM) is a London based management investment firm that focuses on the green revolution and various global warming projects. The Managing Partner is David Blood, former Goldman Sachs executive, so obviously money from credible organizations goes to GIM, since they don’t want to appear to be negative about all these money-losing green projects.
Now that the investors are on board we must have the technology for the CCX, so right after the Democrats took control of Congress during Bush’s second term, the infamous Franklin Raines, a Clinton appointee who was presiding over Fannie Mae (FM) used FM money to secure a patent for the U.S. CCX idea. You remember Raines, the housing bust can be laid in his lap for his sub-prime mortgage policies, and he eventually was discredited and exiled to the woodwork, but not after he pocketed $90M ($52M in bonuses) because FM results were so good during this fiasco. He now is a Board member of Enterprise Community Properties an organization dedicated to good housing for all deserving people. It’s trying to undo the mess he created, so I guess that’s why he is on the Board!
Well, we now have the investors and the technology. In the finale, Part III, let’s look at the law and the cover.
Sunday, May 2, 2010
The Cap & Trade Heist - Part 1
In my last post I called this Cap & Trade concept the biggest heist in American History. This scam being pushed on an unwary public reminds me of the derivatives market and the consolidated debt obligations (CDO’s) concocted by Wall Street, only this is designed by left wing politicians and environmental zealots to scam money, develop celebrity, obtain government funds, write articles, and make a good living, all in the name of social justice and saving the planet.
Since beginning this blog in February, 2009 I have written several articles related to this subject. It would be beneficial to review these before you get into this subject. They are as follows:
Global Warming Uncovered 12/02/09
Climate Change Facts – Obama Lies 6/29/09
Global Warming and Bad Science 6/11/09
Nuclear Waste: An Imagined Problem 3/16/09
Cap & Trade is a concept that is aimed at reducing greenhouse gas emissions by placing a cap on these emissions based on a company’s current levels and providing cap “credits” to companies with emissions below the cap. These credits can be traded among companies to help those that are unable to “meet” their cap while they change their processes to get into compliance. Obviously, large companies with high carbon footprints can “buy” these credits from companies with smaller footprints who don’t need the credits. This will be costly for the energy-oriented industries so these costs will be passed on to the consumer and as President Obama said “energy costs will sky rocket” but in the long term this will be better for the planet.
His administration’s stated goal is “80 by 50” (80% reduction in CO₂ emissions by 2050), a reduction of 20 tons/person which would give us a carbon footprint like the one we had during the Mayflower days. This goal is obviously unrealistic and unachievable, but as long as most of us don’t know that, President Obama can set it anyway, he most likely won’t be alive then so he won’t be held accountable. Remember, there is no conclusive scientific evidence that man-made CO₂ affects the climate in anyway, it is only a theory at this point!
Well, in order to trade these emission credits we need some sort of commodity exchange, right? Also, in order to set up this exchange we need investors, we need technology to justify the concept, we need laws to develop the rules of operation, and we need some sort of cover so it can operate without a lot of public scrutiny. We don’t want the people to know how all these union and labor groups, elected officials, former scam artists, and environmental and social justice groups are making out on this. So, believe it or not, the Chicago Climate Exchange (CCX) was set up in 2003. Hummm….…Chicago, now that’s interesting.
This exchange really started rolling when the Democrats took control of Congress, Barack Obama was a presidential candidate, and Cap & Trade became more than a concept in the U.S. Also, remember now what we are doing, trading puffs of air (containing a small amount of CO₂) which hasn’t been generated yet, and currently has no value at all. Who would be crazy enough to invest in that?
Part II of the Cap & Trade heist next.
Since beginning this blog in February, 2009 I have written several articles related to this subject. It would be beneficial to review these before you get into this subject. They are as follows:
Global Warming Uncovered 12/02/09
Climate Change Facts – Obama Lies 6/29/09
Global Warming and Bad Science 6/11/09
Nuclear Waste: An Imagined Problem 3/16/09
Cap & Trade is a concept that is aimed at reducing greenhouse gas emissions by placing a cap on these emissions based on a company’s current levels and providing cap “credits” to companies with emissions below the cap. These credits can be traded among companies to help those that are unable to “meet” their cap while they change their processes to get into compliance. Obviously, large companies with high carbon footprints can “buy” these credits from companies with smaller footprints who don’t need the credits. This will be costly for the energy-oriented industries so these costs will be passed on to the consumer and as President Obama said “energy costs will sky rocket” but in the long term this will be better for the planet.
His administration’s stated goal is “80 by 50” (80% reduction in CO₂ emissions by 2050), a reduction of 20 tons/person which would give us a carbon footprint like the one we had during the Mayflower days. This goal is obviously unrealistic and unachievable, but as long as most of us don’t know that, President Obama can set it anyway, he most likely won’t be alive then so he won’t be held accountable. Remember, there is no conclusive scientific evidence that man-made CO₂ affects the climate in anyway, it is only a theory at this point!
Well, in order to trade these emission credits we need some sort of commodity exchange, right? Also, in order to set up this exchange we need investors, we need technology to justify the concept, we need laws to develop the rules of operation, and we need some sort of cover so it can operate without a lot of public scrutiny. We don’t want the people to know how all these union and labor groups, elected officials, former scam artists, and environmental and social justice groups are making out on this. So, believe it or not, the Chicago Climate Exchange (CCX) was set up in 2003. Hummm….…Chicago, now that’s interesting.
This exchange really started rolling when the Democrats took control of Congress, Barack Obama was a presidential candidate, and Cap & Trade became more than a concept in the U.S. Also, remember now what we are doing, trading puffs of air (containing a small amount of CO₂) which hasn’t been generated yet, and currently has no value at all. Who would be crazy enough to invest in that?
Part II of the Cap & Trade heist next.
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