Posts Tagged ‘ObamaCare’

Obamacare Career Ending Votes; Republican Chance to Win Senate; Expect House Blowout; Stimulus Appetite Greatly Diminished

Obamacare Career Ending Votes; Republican Chance to Win Senate; Expect House Blowout; Stimulus Appetite Greatly Diminished

nancy pelosiCourtesy of Mish

The public is still angered over Obamacare so much so that Dems Find Careers Threatened by Obamacare Votes

Seven months ago, Speaker Nancy Pelosi spent a busy week rounding up votes to pass the Senate version of the Democrats’ health care legislation.

It wasn’t easy. She had to get Democrats who had voted no in November to switch to yes in March. And she had to get Democrats who had refused to vote for the bill in November without an anti-abortion amendment to vote for a bill in March that lacked that language.

What about the districts of the House Democrats who cast the key votes that made Obamacare law? So how are they doing?

Take Betsy Markey of Colorado 4, who in 2008 beat a Republican who seemed fixated on the same-sex marriage issue. Markey cast a late-in-the-roll-call no in November, then publicly switched to yes in the week before the March 21 roll call. She’s currently trailing Republican Cory Gardiner by an average of 44 to 39 percent in three polls.

Consider John Boccieri of Ohio 16, who switched from no to yes in a TV press conference in which he said the bill would do great things for his constituents. Boccieri’s district was represented by Republicans for 58 years until he was elected in 2008. It looks like it will be again next year. In three polls, Republican Jim Renacci leads Boccieri by an average of 46 percent to 36 percent.

Then there is Suzanne Kosmas, a longtime real estate agent who beat a Republican with an ethics issue in 2008. She announced her switch from no to yes late in the week before the roll call. She’s now running behind Republican Sandy Adams by an average of 47 percent to 40 percent in three recent polls.

To put these numbers in perspective, it’s highly unusual for an incumbent House member to trail a challenger in any poll or to run significantly below 50 percent. But these three Democrats are running 5 to 10 points behind Republican challengers, and none tops 40 percent.

The article notes that Bart Stupak of Michigan 1 opposed the original bill over an abortion clause along with 5 others known as the "Stupak Five".

Bart switched his vote when…
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OMG! Obama Wishes He’d Been Clearer About the Awesomeness of Obamacare

OMG! Obama Wishes He’d Been Clearer About the Awesomeness of Obamacare

Courtesy of Jr. Deputy Accountant 

To hear Obama tell it, Obamacare is the greatest thing since sliced bread. Sure he wishes he’d been more transparent about the impact of health care legislation from the gate but the important thing is that he’s doing it now, right?

CNN:

Asked about the negative perception that many Americans have about signature legislation of his first two years in office, Obama said opponents of reform fought hard against it and he could have done more to sell it.

On such a complicated issue as health care reform, Obama said, the administration knew opponents would offer distortions in opposing the bill.

With provisions of the reform bill starting to take effect, people now can see the benefits for themselves and therefore understand it better, he said.

His government must continue "beating the drum and clarifying what’s in the bill," he said, noting that negative advertisements that lack specifics can influence public opinion.

Negative advertisements huh? 

Guess what, my dear OMG-in-Chief, people now can see the benefits for themselves and therefore understand it better, people like corporate CFOs who now have to change their rules and put aside whole stockpiles of cash to deal with this crap.

See Qualcomm slashes health care benefits in response to ObamaCare law via WC Varones or Citing health care law, Boeing pares employee plan via AP for more on the subject. AT&T, Verizon, Caterpillar, John Deere, McDonalds and 3M have all come out saying they may or have slashed health care as a direct response to Obama’s fantastic, ground-breaking health care legislation. Does that clarify what’s in the bill enough for you?

Don’t forget to buy all the OTC meds you can now before new FSA rules kick in. 

The economics of Obamacare speak for themselves, OMG can find something else to be transparent about while we have a nice long chat with the actual impact. 


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Remedial Economics with Obamacare

Remedial Economics with Obamacare

Courtesy of Jr. Deputy Accountant 

Some of us obviously need a refresher in Econ 101 (Ben Bernanke, OMGObama if he ever actually took it, Nancy Pelosi, etc etc) but it’s all good; Obamacare is here to teach us that there is no "something for nothing". Pelosi should probably listen to the lesson twice. 

Reuters:

AT&T Inc (T.N) said on Friday it would record a $1 billion non-cash charge for the current quarter related to the new U.S. health care reform law, as lawmakers called on the company and three other large employers to testify about expected cost hikes.

AT&T’s charge appeared to be the largest in a series of charges announced by U.S. companies this week.

A House Energy and Commerce subcommittee said on Friday it will call on the chief executives of AT&T, Caterpillar (CAT.N), Verizon (VZ.N) and Deere (DE.N) to testify on April 21 about how the reform might adversely affect their ability to provide health insurance.

"The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern," the subcommittee said in the letters.

AT&T, whose annual revenue is expected to be $124.1 billion this year, said the charge is the result of a provision in the law related to the tax treatment of Medicare subsidies.

And where, exactly, are companies supposed to come up with the difference? Public company accounting – in case you are not aware, I’ll save you the filthy GAAP details – is not like government (fund) accounting. While the Obama administration may have the advantage of a conveniently-located printing press in town at Bernanke’s place and fund accounting on its side, public companies actually have to make balance sheets balance and put something aside or borrow to comply with this awesome new health reform plan.

Way to encourage economic growth, Washington. 

Money that could have easily gone into infrastructure, technology, inventory, human capital, or R&D ends up going to Washington (as if the printing press and fund accounting weren’t pay day enough in DC. Here’s a hint: there is never enough) to be redistributed. Partially to the IRS to pay all these new "auditors".

See where we’ve gone wrong yet?
And hey! All you asshat iPhone users can also blame Obamacare for the ever-crappier network you’ll be on as AT&T will, naturally, have to take $1 billion from somewhere else. 

 


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Obama Posing In Front Of A Row Of Doctors

Is this what they teach in PR school? – Ilene  

Why It’s Ridiculous That Obama Is Posing In Front Of A Row Of Doctors

Courtesy of Joe Weisenthal at Clusterstock 

obama, doctors

For his latest healthcare announcement, Barack Obama is posing in front of a row of white-coated doctors.

He uses that imagery because people respect doctors, and presume them to be non-partisan. They just want a solution. It helps that they’re dressed in white, because we associate whiteness with angels and other holy beings.

But look, doctors have their own biases too. They have self interested viewpoints — like opposition to a greater use of nurses, technicians, and devices who might cut into their profit margins. And beyond that, it’s just not true that doctors will necessarily be founts of wisdom about policy or economics. In many cases, it’s likely they haven’t spent any time thinking about macro issues.

Obama wouldn’t announce financial reform in front of a line of approving bankers (or insurance executives). Well he looks just as absurd being surrounded by doctors. 

*****

Op-Toons Review, similarly unimpressed: 

President Delivers Yet Another ObamaCare Speech Surrounded by Doctors in Lab Coats

ObamaCare+Photo+Op.jpg

Photo by Optoon’s Review

See also:  Op-Toons Review’s  Fallout 3 "ObamaCare" Expansion Pack Features a Post-"Nuclear Option" World Filled with Mutants Created by Government-Run Health Care


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Brown Wins – Complete Repudiation of Obamacare – What’s Next?

Brown Wins – Complete Repudiation of Obamacare – What’s Next?

Courtesy of Mish

Massachusetts Holds Special Election To Fill Kennedy Senate Seat

In the most liberal of liberal states, and in a complete repudiation of both backroom deals and Obamacare, Scott Brown pulled off the most stunning senate race upset in history. If you were for Brown, pour a cup of tea and celebrate. If not, cry in your tea.

Brown’s victory was not so much a vote for Brown, but a vote out of anger, anger of backroom deals, anger over jobs, anger over wars, anger over special deals for politicians and unions, anger over banks, and most importantly, anger because "Yes We Can" morphed into "Business As Usual, Only Worse".

Backroom Bargaining Give Unions, Politicians Sweetheart Deal

For a president who promised "no backroom deals" he unmistakably delivered "backroom deals".

Please consider the Wall Street Journal article Labor’s $60 Billion Payoff.

Democrats seem impervious to embarrassment as they buy votes for ObamaCare, but their latest move makes even Nebraska’s Ben Nelson look cheap: The 87% of Americans who don’t belong to a union will now foot the bill for a $60 billion giveaway to those who do.

Emerging from their backrooms [Mish note: Obama invited union leaders to the Whitehouse for a private session], Democrats have agreed to extend a special exemption from the Cadillac tax to any health plan that is part of a collective-bargaining agreement, plus state and local workers, many of whom are unionized. Everyone else with a higher-end plan will start to be taxed in 2013, but union members will get a free pass until 2018.

Ponder that one for a moment. Two workers who are identical in every respect—wages, job, health plan—will be treated differently by the tax system, based solely on union membership.

Politicians Exempt Themselves

Not that the deal not only exempted unions, politicians gave themselves special favors.

Without a doubt, Brown sent a message to Obama specifically and Democrats in general that the public is fed up. Indeed, this special election shows Obama’s message is as out of place as a bullfrog on the lead microphone at an opera.

Nonetheless, rest assured the music will fall on deaf ears unless you act.

Act Now!

Call your congressional representative Wednesday morning. Tell them Massachusetts is fed up and you are too. Tell them, you are fed up with…
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Obama, politics and lies

The disappointment with Obama is reaching new heights.  He ran for office making certain representations to the American people; and he proceeds to ignore his own pre-election promises, as if they were meaningless.  Here’s a video showing the eight times Obama said health care negotiations would be televised on C-SPAN.  Below is an assessment by Timothy D. Naegele (the interview here) of Obama’s performance thus far. - Ilene  

The C-SPAN Lie? See Eight Clips of Obama Promising Televised Healthcare Negotiations

Via Breitbart

Barack Obama: America’s Second Emperor?

Timothy D. Naegele By Timothy D. Naegele[1]

Just days after announcing the surge of 30,000 more U.S. troops in his Afghan war, Barack Obama was in Oslo to accept the Nobel Peace Prize that was announced shortly after he became president—before he had done anything.  Next, he was in Copenhagen accepting a deal without any teeth to address “global warming,” in the midst of a blizzard that dumped snow on the Danish capital, suggesting to most people that the issue is a “hoax.”

Straddling his back-to-back trips to Europe, he was in Washington, D.C.—where he was met by a blizzard on his return from Denmark—pushing for the enactment of ObamaCare that Americans oppose[2].  The legislation is so reckless that it had to be rammed through the U.S. Senate on a partisan vote.  Also, the Democrats’ leadership hid the exact nature of the health care bill from senators, who surely had a right to know what they were voting for.

Then the president jetted off to spend the holidays in Hawaii[3], having irresponsibly saddled the people with ObamaCare—after the legislation clears a joint Senate-House conference committee and he signs some version of it into law—which is reprehensible, certainly with respect to its impact on Medicare patients[4].  His recent travels alone create a carbon footprint globally that boggles the mind, especially when so many Americans are suffering from an economic meltdown that shows few real signs of abating.  Indeed, 49 States have lost jobs since his so-called “Stimulus Package” was enacted.[5]

His popularity poll numbers have been plummeting[6], but he is seemingly oblivious to the will of the people and determined to remake the United States and the world in his own image.  Never mind that his life was shaped by years growing up in Hawaii and Indonesia, he


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Phil's Favorites

The US overtakes Hong Kong to rank first among world's most competitive economies

 

The US overtakes Hong Kong to rank first among world's most competitive economies

The US has broken back into the lead. shutterstock.com

Courtesy of Arturo Bris, IMD Business School

The US has leapfrogged Singapore and Hong Kong to top IMD’s latest World Competitiveness Rankings. The top five most competitive economies in the world remain the same since 2016, but their order has changed. With the US at the top, Hong Kong has dropped one spot to second and Singapore remains third. Germany has fallen two spots to 15th and the UK has slipped one position to 20th.

We compile the rankings using 258 ...



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Zero Hedge

How To Hack The Price Of A Hotel Suite

Courtesy of ZeroHedge. View original post here.

Submitted by Priceonomics

Suites are the crown jewel of the hotel experience: generally, they’re more spacious, more meticulously appointed, and well-suited to house larger groups looking to share a space. 

There’s only one problem: they’re typically a lot more expensive than standard ho...



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Chart School

Second Day of Bullish Defense

Courtesy of Declan.

The market had initially reacted to Trump's decision to cancel his North Korean summit before coming to its senses and finishing where it left off yesterday.

For the Russell 2000 it was a bullish doji to follow the 'hammer'; those brave enough to buy the morning dip will be feeling confident as technicals remain bullish.

...

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Insider Scoop

A Peek Into The Markets: US Stock Futures Down Ahead Of Economic Data

Courtesy of Benzinga.

Related SPY The Market In 5 Minutes: GE, Tariffs, Summit, Jobless Claims And More Analysts Weigh In On US-China Trade Developments...

http://www.insidercow.com/ more from Insider

Digital Currencies

How the US Government Could Effectively Use Crypto

The US government could start, or officially endorse an existing crytpo coin. What they would do is build a fee into the software protocol that went to a single address that they control. This is effectively a tax. The fee could be a transaction fee, a percentage of the next block award, or a combination of both. How this works is every single transaction that occurs everywhere wihtin the system, the fee scalped goes directly to this single address that is owned by the IRS, in this case, the "New-IRS." Forget postcards. We're down to a single dude in one office chair in front of one computer. Imagine that being the IRS, because that's where this is going. The consequences of this mechanism are dramatic. First off the IRS is now one guy. Granted, this guy controls the private key for the most valuable thing in the world. This key would be the single most important key right up there with the nuclear launch code, but the system would most definitely still work. More strikingly, the US...

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Biotech

Could this be the year for a Canadian Breakthrough Prize in Life Sciences?

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

Could this be the year for a Canadian Breakthrough Prize in Life Sciences?

Courtesy of John Bergeron, McGill University

In 2013, Kyoto University’s Shinya Yamanaka was awarded one of the first Breakthrough Prizes in Life Sciences for his discovery of “induced” stem cells that enabled researchers to convert adult cells back into stem cells.

The Breakthrough Prize is not to be sneezed at. Founded in 2013, the prize “honours transformative advances toward understanding living systems and extending human life.” It’s also the most financially attractive aw...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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