market-ticker.org / by Karl Denninger / 2017-03-01
Yeah, I watched it.
And I read it too, just to make sure I didn’t miss anything.
There were no details.
There was nothing concrete.
There was, in fact, nothing.
The market roared, and currently stands at all-time highs across the board. On…… what, exactly?
Let me point out that exactly nothing was said about the one issue that must be addressed: Medical monopolies, which is a nice “roll off the tongue” way of saying violations of anti-trust and consumer protection laws that have been going on for 30 years, are causing cost to go up at ~9% a year, are all violations of existing law and thus can be stopped by Trump irrespective of Congressional interference and which will bankrupt the nation within President Trump’s first term if not stopped now.
Governor Snyder of Michigan has been whining of late of the “impact” on his state of block-granting Medicaid. He took the Medicaid expansion, of course. He knows what 9% compounded does to your budget. He hasn’t given a crap about what that scam has done to the cost of auto insurance in the state, nor to property taxes which wind up going to pay the public pension medical costs and have driven real estate taxes on modest homes to levels that make you blanche and are completely unaffordable for those on fixed, modest incomes. The first (of thousands) of pension detonations, which caused a reduction in those pensions of more than roughly two-thirds, just happened in NY State, incidentally, taking what was a rational middle-class income and turning it into one that might pay the winter heating bill.