Global Economy Bursting?

[Randolph Kinney]

As Number of Medicaid Patients Goes Up, Their Benefits Are About to Drop

http://www.nytimes.com/2011/06/16/health/policy/16medicaid.html?_r=1&nl=todaysheadlines&emc=tha24

The Obama administration injected billions of dollars into Medicaid, the nation’s low-income health program, as the recession deepened two years ago. The money runs out at the end of this month, and benefits are being cut for millions of people, even though unemployment has increased.

 

[Randolph Kinney]

States Want More in Pension Contributions

http://www.nytimes.com/2011/06/16/business/16pension.html?nl=todaysheadlines&emc=tha25

Just another way to reduce take home pay for that future retirement. All this adds up and will reduce consumption and reduce consumer spending with the ripple effect.

 

[Randolph Kinney]

There Are More Japanese On Welfare Than Any Time Since Immediately After World War II

Read more: http://www.businessinsider.com/japan-welfare-world-war-2-2011-6#ixzz1PRhk7QXY

There were 2.02 million Japanese receiving welfare at the end of March, close to the record 2.04 million in the aftermath of World War II.

 

[Randolph Kinney]

The EU And IMF Have A Deal On Greece*

Read more: http://www.businessinsider.com/brea...ly-have-a-deal-on-greece-2011-6#ixzz1PRiT3N9I

 

[Austin]

As Number of Medicaid Patients Goes Up, Their Benefits Are About to Drop

http://www.nytimes.com/2011/06/16/health/policy/16medicaid.html?_r=1&nl=todaysheadlines&emc=tha24

The Obama administration injected billions of dollars into Medicaid, the nation’s low-income health program, as the recession deepened two years ago. The money runs out at the end of this month, and benefits are being cut for millions of people, even though unemployment has increased.

I just this minute walked in the door from my doctor's office. I was getting blood work. I have been going to this practice for over 20 years. There was a sign at the check-in window: "All co-pay" must be paid upon checkin and prior to seeing the doctor. I waited half an hour to get blood work. No more just put it on my bill after receiving treatment. Cash up front is the new norm.

When I checked in they took my insurance cards and scanned them into a system. Later I was talking to another patient and she said something about the government made the doctors go all electronic and the new system costs around $100,000 per office. Connect the dots.

 

[Randolph Kinney]

We have many doctors and dentists here that will not take insurance of any kind. We have some that require a "retainer" fee up front to guarantee service for the year.

We also have many people who go to Mexico for their medical services because it is cheap(er).

There are so many hospitals and doctors here that will not take MediCal (MediCAID) and increasing numbers that won't take Medicare.

Health insurance in this state is very expensive. May people go without and just show up at the emergency room.

 

[Randolph Kinney]

Is the ECB Solvent?

http://www.fgmr.com/is-the-ecb-solvent.html

Overall, the ECB is now leveraged around 23 to 24 times, with only €82bn in capital and reserves...This means that should the ECB see its assets fall by just 4.25% in value, from booking losses on its loans or purchases of government debt, its entire capital base would be wiped out.

 

[Big ole Boy]

Frozen and cash on hand - horizon

... I keep thinking that all 401K will be frozen soon ...

... but I still can not think of what to invest in once I take the money out and loose 30% ....

....with the above hypothesis, if 401K became frozen by the FEDs ... it may also stand to reason that most financial vehicles would become frozen as well ....

... so, if I did take my money .... and started speculating in ...... something like "oil" ......

... or some commodity ....... I would be taking on similar risk of the position becoming frozen as well ....

....so, I am thinking that it is still better to be out of my 401K with cash in hand ....

...all of these developments have very grim overtones ......

... and I realise that in such a future ...... having some cash may only buy one a little time

..... before the warlords take it or the brutes take center stage ...

... but I digress ..... I always like to plan for the worst ......

... anybody know of a good Island where the air is fresh and the water is fine?

 

[Couch Potato]

There Are More Japanese On Welfare Than Any Time Since Immediately After World War II

Read more: http://www.businessinsider.com/japan-welfare-world-war-2-2011-6#ixzz1PRhk7QXY

There were 2.02 million Japanese receiving welfare at the end of March, close to the record 2.04 million in the aftermath of World War II.

Funny what wiping out a few cities will do to the economy. :mellow:

Once rebuilding is in full swing Japan will be fine much like the recovery of a forest after a fire. It will continue to be bleak for awhile, but it will come back strong.

 

[Randolph Kinney]

Funny what wiping out a few cities will do to the economy. :mellow:

Once rebuilding is in full swing Japan will be fine much like the recovery of a forest after a fire. It will continue to be bleak for awhile, but it will come back strong.

I see that you subscribe to the "broken window" theory of economics.

The parable of the broken window was introduced by Frédéric Bastiat in his 1850 essay, also known as the broken window fallacy or glazier's fallacy, demonstrates how the law of unintended consequences affects economic activity people typically see as beneficial.