The Economic “Miracle” Has Failed
Investors have been blindly believing that the manufacturing powerhouse China would save the global economy. In the last six months, the Chinese government has pumped 1.6 trillion dollars worth of new credit, or about 21% of their GDP, into their collapsing economy. Now is the time to prepare for the ensuing hilarity as politicians and business leaders blame each other when the markets nose dive.
The Senate’s immigration bill is unconstitutional because it raises revenues that originated and passed in the Senate first. Language in the U.S. Constitution requires any bill that raises revenue must originate in the House of Representatives. The Speaker of the House can use a procedure called a “blue slip resolution” to automatically kill it on the grounds that it is unconstitutional. The question is… Will Boehner follow the Constitution?
27 Facts About the American Family
Here are a few…
1. The U.S. has the highest divorce rate in the entire world.
2. More than a million public school students in the U.S. are homeless.
3. The U.S. has the highest child abuse death rate in the developed world.
Obamacare and Incomes
On top of the Congressional Budget Office forecasting Obamacare costing at least twice what Obama promised, officials from Health and Human Services announced they will not require the new state health insurance exchanges to verify consumers’ incomes to see if they qualify for health insurance subsidies. In short, this will lead to the destruction of private plans, and will ensure de facto nationalization of healthcare.
State Pension Mess
Most states and local governments continue to offer their employees defined benefit pension plans. These pension plans are severely underfunded. Senator Hatch has introduced a bill, called the SAFE Act, that would help transfer these state pensions to private insurers; so that, when these private insurers go bankrupt with the current state of the pensions, national and state politicians would not get blamed.
With the cost of health care increasing, more and more employers are going to find other ways to make their employee’s feel special. One way to do that is to offer… wait for it…. Pet insurance. So, as you try to make ends meet, you can feel special by knowing your cats, Chunky Butt and Dog Food, have their own insurance.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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