The Post-ObamaCare World: Reality Check For Hypocrites?

[Ragnarök_62]

(11-11-2016, 11:14 AM)playwrite Wrote: [quote pid='12257' dateline='1478875298']

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

[img][/img]

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

I haven't wondered. I just assume Big Banking is just one of several sets of grifters. In any event, I just have autopay set up 'cause 20+ percent interest is silly in ZIRP land for myself.  I gots me a Bank America card added 'cause only 1 credit card apparently wasn't enough to keep my FICO score above 810. Said card pays out 3% cash back on most stuff and 5% on gas.

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

Insurance should only be for taking care of random bad incidents like a tornado shredding your house. Health insurance as it's currently done is stupid. If house insurance were like health insurance, you file a claim to get a faucet fixed or a broken window fixed.  It's lame.

Quote:I  have literally made half my wealth by fading the Libertarian morons that have Zero Hedge as their updated Ayn Rand guru.

I go to Zero Hedge to read stuff panning idiots like special snowflakes myself.




Quick!  Da "lady" needs a binky.

Quote:Taking their lunch money, over and over again, is entertaining.

Please tell Paul Ryan this.  He wants to privatize SS.  It's lame of course since most of us :

1. Don't realize the churn fees start ringing up there.
2. There be dragons. Mr. market is , well, hard to figure out if you ain't a money manager.
3. Whadda about folks who outlive private funds?

Quote:  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).

Now a Friskies diet ain't no fun either.

Quote: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,

But, but, it seems bullish for:    http://money.cnn.com/quote/quote.html?symb=NSRGY

Quote: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.

Yup.  Bullish on death industries.  Yeah, I know I'm being macabre, but it's true.
http://247wallst.com/investing/2011/01/1...-industry/

Quote: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.

I thought QE = lots of excess reserves...

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

Credit unions work well.

Quote: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.

1. Ahem, that's amygdalae  , plural.

Quote: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?).

The use of credit cards as a source of borrowed money , not smart.

I prefer unicorns and rainbows for old time sake

Quote: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.

[/quote]

Uh, go long death and cat food?