The Post-ObamaCare World: Reality Check For Hypocrites?

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(11-11-2016, 10:28 AM)Warren Dew Wrote:

(11-11-2016, 09:41 AM)playwrite Wrote:

(11-10-2016, 02:18 PM)X_4AD_84 Wrote:

(11-10-2016, 11:29 AM)Anthony Wrote: The repeal of the Affordable Care Act, aka ObamaCare, is now a fait accompli - conceivably as soon as January 21st, via the "budget reconciliation" process.

But where do we go from here?

To prevent what literally would be a humanitarian crisis, state and local governments, and private and religious charities, will have to do the right thing - and the latter two are especially key: Will George Soros, Tom Steyer etc. pitch in, by making massive donations to organizations like this - and will evangelicals prove that they are not slavish disciples of Ayn Rand and do their part?  (You can bet that the Catholic Church, especially under Pope Francis, will take a strong stand on this).

If either fail, they will be exposed for all the world to see as the worst sort of hypocrites.

With repeal they will implement a system where insurance companies are no longer state by state. They've been harping on "allow competition across state lines." OK, now they've got the ball. Let's see what's in the playbook, if anything.

Have you ever wondered why credit card interest rates remain in double digits even when all other credit tanks -

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It's because the banks have all headquartered their operations in Wilmington, Delaware, where former Governor Pierre DuPont purposely enticed them with relaxed regulations.

The only people who think that this will not happen with the insurance companies are Libertarians.

I  have literally made half my wealth by fading the Libertarian morons that have Zero Hedge as their updated Ayn Rand guru.  Taking their lunch money, over and over again, is entertaining.  Not so much fun, however, when their stupidity actually gets taken seriously within the government and the whole economy eventually takes the big hit from their stupidity (see the '00-00s).

Not sure which state will win the race to the bottom, but it will be a pretty big story on the business news channels.  It will be pitch as a big win for whatever state pulls it off; the rest of the country will be pretty F'd, however.  Obamacare was limited to a pretty narrow set of people - those poor enough to be on Medicaid and those in the lower Middle Class that could not get employer-based insurance.  A credit card-like centering of health insurers in the state with the most relaxed regulations will, however, impact the ENTIRE market.  I expect the costs will spell the end of employer-based health insurance.  I also expect the Libertarian morons to believe that is a good thing, just like unfettered bank subprime lending in the 00-00s.  I expect to substantially grow my personal wealth once again off these morons.

Actually the increase in credit card margins is due to capital restrictions implemented after the crash, and the fact that those capital restrictions limit the amount of lending banks can do.  The resulting shortage of money to be lent out resulted in excessive interest rates.

The gap is gradually being filled by other alternatives offered by companies in a better capital position, but it's a slow process.

Ah, I realize its hard to get through those over-stimulated amygdala you all seem to posses, and really, I've grown tired of it, and try to just take pleasure knowing how much of your lunch money I'm taking from you all in the markets.

But, for old time sakes, try taking a look at the graph again and see were you can pinpoint "the fact" that while credit card rates changed but slightly down while all other securities went way down, the expanding margin is instead based on horseshit (or, is it magic ponies again?).

I am always amazed how you guys can look at a house on fire and blame the firemen or car wreck and blame the tow truck driver.  It's weird, but it has been highly profitable to fade you. I guess I should just be thankful.