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overtheedge
Member since May 2012
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Obamacare Caused The Gas Tax Cut To Go Up In Flames - Michael Pento - Delta Global Advisors

Okay, just one more time.
The PPACA was enacted for the purposes of bailing out the insurance industry.
Profits had fallen to about 1% when the actuarial needs were 7-8%.
Now factor in the high propensity for the insurance companies to also be in the pension plan business.
Can we spell under-funded? How about under-funded AND only 10-12% of the absolutely necessary income on its investment portfolio to remain viable.
The scary spectre of no health insurance was the hook.
Imagine the problem this might spell for unions. Recall that they were led to believe they were exempt?
The money continues to depreciate, costs increase, bring on the clowns and pink ponies.

Were this path to be walked to completion, we would have single pay and MyRA.

Good article. Thanks. Time seems to provide a fertile environment for normalcy bias shift and we forget the past wasn't so bad after all.
Yah you had to work, but there were jobs, good paying jobs.

Commented 3268 days ago

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Beginning of the headline :Wall Street analysts unanimously cheered last fall when the price of oil fell from nearly $100 a barrel in June of 2014, to almost $45 a barrel by the end of January 2015. The theory was that the average American family, paying less at the pump, would plow this savings into other goods and services, giving GDP a much needed boost. In the winter of 2014 optimism about a strong 2015 was abound. The average household was now poised to have an extra $750 a year that would soon be burning ... Read More

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