Detecting The TRUTH 10/25/13 -- Headlines

Consumer Confidence Plunges To Lowest In 2013
Submitted by Tyler Durden on 10/25/2013 10:01

Following record UMich misses, Gallup's economic confidence collapse, the slump in the conference board's measure of confidence, and Bloomberg's index of consumer comfort signaling major concerns among rich and poor in this country (in spite of record highs in stocks), today's Consumer Confidence data from UMich continues to confirm a problem for all those 'hoping' for moar multiple expansion. Falling for the 3rd month in a row, and missing expectations for the 2nd month in a row, this is the lowest confidence print in 2013. Perhaps even more worrisome for the 'hope and change' crowd is that the 12-month economic outlook has collapsed to its lowest since Nov 2011. It would seem that all that free money flooding our 'markets' has reached peak efficacy in terms of confidence inspiration, and as Citi notes, when this cycle has played out in the past, equity market corrections are often quick to follow...

READ MORE

___________________________

Report: U.S. Spent $3.7 Trillion on Welfare Over Last 5 Years

9:39 AM, OCT 23, 2013 • BY DANIEL HALPER

"We have just concluded the 5th fiscal year since President Obama took office. During those five years, the federal government has spent a total $3.7 trillion on approximately 80 different means-tested poverty and welfare programs. The common feature of means-tested assistance programs is that they are graduated based on a person’s income and, in contrast to programs like Social Security or Medicare, they are a free benefit and not paid into by the recipient," says the minority side of the Senate Budget Committee.

"The enormous sum spent on means-tested assistance is nearly five times greater than the combined amount spent on NASA, education, and all federal transportation projects over that time. ($3.7 trillion is not even the entire amount spent on federal poverty support, as states contribute more than $200 billion each year to this federal nexus—primarily in the form of free low-income health care.)

READ MORE

___________________________

Administration Enforces Radiosilence On Obamacare Enrollment Numbers

Submitted by Tyler Durden on 10/24/2013 18:3

While the self-proclaimed 'most transparent' administration fights off the French and the German over spying 'lies', and gags insurers from publicizing how many people have signed up for Obamacare, it seems the cover-up goes even further with everyone involved silenced (for now).

READ MORE
____________________________

How To Opt Out of ObamaCare Without Paying the Fine

October 25th, 2013 at 10:26 am.
by: George Washington

Less than two-hours ago, I submitted a revised W-4 form to our payroll department. My goal is to avoid being in a position where at the end of next year I am owed a refund from the federal government. As an act of civil disobedience, I am refusing to purchase health insurance. This means that I am subject to a tax/fine of 1% of my income (2% the following year, 2.5% thereafter). But the beautiful thing is that unless I am owed a tax refund, the government will never get any of that money.

READ MORE

___________________________

Why Obamacare Is Not A Train Wreck; It’s A Suicide Attack

October 24, 2013 by Wayne Allyn Root

The GOP needs to stop calling Obamacare a “train wreck.” That means it’s a mistake or accident. That means it’s a gigantic flop or failure. It’s not. This is a brilliant and purposeful attempt to damage the U.S. economy, kill jobs and bring down capitalism. It’s not a failure; it’s Obama’s grand success. It’s not a train wreck; Obamacare is a suicide attack.

Obama’s hero and mentor was Saul Alinsky, a radical Marxist intent on destroying capitalism. Alinksky’s stated advice was to call the other guy “a terrorist” to hide your own intensions; to scream that the other guy is “ruining America,” while you are the one actually plotting the destruction of America; to claim again and again in every sentence of every speech that you are “saving the middle class,” while you are busy wiping out the middle class.

READ MORE

___________________________

ObamaCare is a Trojan Horse for Socialized Medicine

OCTOBER 24, 2013 BY KRIS ZANE

Barack Obama traveled the country promising that ObamaCare would lower the cost of health insurance and increase availability to healthcare. But it has had the opposite effect: Health insurance costs are skyrocketing. Doctors are dropping out of the healthcare market in droves, and HMOs are firing doctors by the thousands.

But this was no surprise to Obama’s central planners. They knew that health insurance premiums would skyrocket for most Americans. They knew that doctors would drop out of the healthcare market in droves. They knew that most would opt out of Obamacare and pay the fine.

And they know Obamacare will eventually collapse.

READ MORE
____________________________

Obama Care Will Crash If Healthy Don’t Enroll-Karl Denninger

By Greg Hunter’s USAWatchdog.com

Analyst/trader Karl Denninger says Obama Care is doomed to failure because of pre-existing conditions of many signing up for coverage. Denninger explains, “If you are an insurance company and you only sell insurance to those who have already lit their house on fire, you’re not going to be in business very long. You have to have people who buy insurance who are not likely to have fires.” As far as the Affordable Care Act, Denninger thinks, “Now we have a huge problem because the only people who are going to enroll are the people who are going to crash the system if everyone else doesn’t show up.” Denninger contends if there are not enough young healthy people signing up for Obama Care, “It will implode before the end of the year.” Denninger goes on to say, “What Congress calculated rather coldly is they could shove a gun up young people’s backs and make them fork up the money.” There are two very big problems with this, according to Denninger, “They have no reason to buy today, and the fine is insufficient motivation because it is a small fraction of the premium.” Denninger predicts, “This is not going to bring down healthcare costs. This is going to accelerate costs. This is extremely bad law.” Join Greg Hunter as he goes One-on-One with Karl Denninger of Market-Ticker.org.

READ MORE
____________________________

The Growing Rift With Saudi Arabia Threatens To Severely Damage The Petrodollar

By Michael Snyder, on October 23rd, 2013

The number one American export is U.S. dollars. It is paper currency that is backed up by absolutely nothing, but the rest of the world has been using it to trade with one another and so there is tremendous global demand for our dollars. The linchpin of this system is the petrodollar. For decades, if you have wanted to buy oil virtually anywhere in the world you have had to do so with U.S. dollars. But if one of the biggest oil exporters on the planet, such as Saudi Arabia, decided to start accepting other currencies as payment for oil, the petrodollar monopoly would disintegrate very rapidly. For years, everyone assumed that nothing like that would happen any time soon, but now Saudi officials are warning of a "major shift" in relations with the United States. In fact, the Saudis are so upset at the Obama administration that "all options" are reportedly "on the table". If it gets to the point where the Saudis decide to make a major move away from the petrodollar monopoly, it will be absolutely catastrophic for the U.S. economy.

READ MORE