- Are you ready to pay 37 percent more for health insurance in 2018? Obamacare is imploding faster than most of us imagined, and these rate increases are absolutely killing hard working middle class families all across the country. I wrote about the steady erosion of the middle class yesterday, and health insurance is one of the main reasons why the cost of living is increasing at a much faster rate than our paychecks are. It greatly frustrates me that we have given the Republicans control of the White House, the Senate and the House of Representatives and Obamacare still has not been repealed. The truth is that should have happened on day one of the Trump presidency.
- Monday’s news was dominated by headlines about the indictments…
Read more at:37 Percent Rate Increase In 2018??? Obamacare Is Imploding And It Must Be Repealed Now!
- The federal government is now 20.4 trillion dollars in debt, and most Americans don’t seem to care that the economic prosperity that we are enjoying today could be completely destroyed by our exploding national debt. Over the past decade, the national debt has been growing at a rate of more than 100 million dollars an hour, and this is a debt that all of us owe. When you break it down, each American citizen’s share of the debt is more than $60,000, and so if you have a family of five your share is more than $300,000. And when you throw in more than 6 trillion dollars of corporate debt and nearly 13 trillion dollars of consumer debt, it is not inaccurate to say that we are facing a crisis of unprecedented magnitude.
Read more at:Will America’s Prosperity Be Completely Wiped Out By Our Growing Debt?
- Oh, the revisions.
- The US economy, as measured by “real” GDP (adjusted for a version of inflation) grew 0.74% in the third quarter, compared to the prior quarter. That was a tad slower than the 0.76% growth in Q2, but up from the 0.31% growth in Q1.
- GDP was up 2.3% from a year ago.
- To confuse things further, in the US, we cling to the somewhat perplexing habit of expressing GDP as an “annualized” rate, which takes the quarterly growth rate (0.74%) and projects it over four quarters. This produced the annualized rate of 2.99%, or as we read this morning all over the media, “3.0%.”
Read more at:How Much Illusion in GDP? What You See Is Not What You Get
- Once we wake up to how the game is being played, then we will have a real shot at changing things. For decades, the elite have been pulling the strings behind the scenes in both major political parties. That is why nothing has ever seemed to change very much no matter which party has been in power. The agenda of the elite has always seemed to march forward, and ordinary people like us have always been frustrated that we can’t seem to make a difference. But now a shift seems to be taking place. Donald Trump took on the establishment in both major parties, and he miraculously won the presidency. Down in Alabama, the elite spent more than 30 million dollars to defeat Roy Moore, and he still defeated Luther Strange. A political awakening is taking place, and I can’t wait to see what happens during the mid-term elections in 2018.
Read more at:How The Elite Dominate The World – Part 4: They Buy Politicians, And Incumbents Almost Always Win
- The mystery surrounding Mandalay Bay security guard Jesus Campos grows increasingly bizarre by the day. Following Stephen Paddock’s October 1st massacre in Las Vegas, Campos, who may or may not have been shot by Paddock, flaked on a press conference that he reportedly scheduled then went missing for days before suddenly resurfacing on the ‘Ellen’ show.
- Now, Fox News has uncovered Customs and Border Patrol documents showing that Campos apparently crossed the border into Mexico days after the Vegas massacre. Campos reportedly crossed the border at the same place in January but, for whatever reason, was driving a rental car this time around instead of his own vehicle. Per the New York Post:
Read more at:Mysterious “Missing” Vegas Security Guard Left The Country Days After Vegas Massacre
- The majority of middle class wealth is locked up in unproductive assets or assets that only become available upon retirement or death.
- Compare these lockboxes and limitations with the top 1%, which owns the bulk of business equity assets. Business equity means ownership of businesses; ownership of shares in corporations (stocks) is classified as ownership of financial securities.One of my points in Why Governments Will Not Ban Bitcoin was to highlight how few families had the financial wherewithal to invest in bitcoin or an alternative hedge such as precious metals.
- The limitation on middle class wealth isn’t just the total net worth of each family; it’s also how their wealth is allocated: the vast majority of most middle class family wealth is locked up in the family home or retirement funds.
Read more at:Stagnation Nation: Middle Class Wealth Is Locked Up in Housing and Retirement Funds
- I don’t remember ever having seen crazier times of more pandemic proportions.
- “It is the biggest scam ever, such a huge gigantic scam that’s going to blow up in so many people’s faces. It’s far worse than anything I was ever doing,” explained Jordan Belfort concerning ICOs (initial coin offerings) of cryptocurrencies. The former penny-stock broker portrayed by Leonardo DiCaprio in The Wolf of Wall Street should know: He spent 22 months in the hoosegow for securities fraud and money-laundering.
- Just about anyone can call themselves a startup, make promises of future products or services, and sell digital tokens to raise funds. These digital tokens become tradable cryptocurrencies. Buyers do not receive any ownership of the startup, which is what traditional startup investors get. Instead they’re usually promised something in the future, such as free access to the service once available. It doesn’t really matter what the promises are because people buy the tokens to get rich, hoping that they’re getting into the hottest cryptocurrency on the ground floor. ICOs are not regulated and anything goes.
Read more at: Wall Street Piles into Cryptocurrencies, Others Speak of “Biggest Scam Ever”