Karl Denninger

Obamacare is the Reason for Anemic Growth [Video w/ Transcript]

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Denninger Greg Hunter – Analyst and entrepreneur Karl Denninger predicted years ago that Obamacare would “kill the economy” and “eventually implode.” Today, the first quarter GDP came in at just .9%, and Denninger contends Obamacare is part of the reason the economy is so anemic. Denninger says, “Since the crash in 2008, we’ve had 2% GDP expansion roughly on an average basis, and you are trying to expand the growth of one program in the government by 8.5%, and that’s not going to work.

This is the problem you have. What Obamacare has done has caused the 2% expansion. . . . So, what has happened here is we have taken this program and crammed these costs into the economy on a mandated basis, and the result is the productivity expansion has gone into the toilet.”

https://youtu.be/iimk11lMKt8

Another big problem with Obamacare is the pre-existing conditions. Denninger says, “When you say an insurance company has to cover pre-existing conditions, what you are saying is if this condition costs $10,000, we are going to make it cost $12,000 because the insurance company has to make money.

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Without the Rule of Law America is Doomed [w/ Video]

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DenningerGreg Hunter – Trader and entrepreneur Karl Denninger has a dire warning. He basically says if there is lawlessness at the top of society, there will be lawlessness at the bottom.  Denninger, who is so distraught he has suspended writing on his popular website, explains, “It is illegal for any entity with market power or anybody else to price fix.  It is illegal to price commodities of like, mind and quantity in the market place.  That is a federal law, and violations of these laws are not civil affairs, they’re felonies.

The only deterrents for corporations against bad behavior is people go to jail or the firm has its charter revoked because it runs out of money.  The reason that is the case is as long as I can pay a fine and shift the cost onto the customers or shareholders or both, there is not deterrent—at all. . . . When does a CEO ever get indicted?  When do members of the board ever get indicted?  The answer is never.”

http://youtu.be/6_gxEBnPm7w

Denninger says the lawlessness trickles down, and it’s bad for growth and innovation that creates jobs. Denninger contends, “The problem with this is economic progress.  Without people having the ability and the promise to get ahead, what do you have left? . . . If this sinks into people’s consciousness, then the game is over.  If you cannot entice people to get out there and create the next big thing, to be the next Intel, to be the next Amazon, then everybody swallows everybody until there is nothing left.  If you are all sharks trying to eat each other, then there is no progress.”

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ObamaCare Will Implode and Kill the Economy – Karl Denninger [Video]

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DenningerGreg Hunter – Analyst/trader Karl Denninger predicted years ago that Obama Care would “kill the economy” and “eventually implode.” That is exactly what’s happening now. Denninger contends, “The majority of the money we spend in healthcare is jacked up due to these monopolist policies which raise the cost four or five times where it ought to be. On top of that, we are being forced to pay for people who have made lifestyle choices that dramatically raise their cost of healthcare. . . . The health insurance people are faced with an untenable problem because if the only people who buy car insurance wreck one car a year, the cost of car insurance is $20,000 a year because that is the cost of the car.” Denninger goes on to point out, “The rate increases that are coming down this year are astronomical. I am seeing rate increases as high as 50% for inferior coverage. . . . Benefits come off your top line as an employer. So, all of this means much slower growth if any at all because all this money is being siphoned into the health insurance and healthcare system.”

http://youtu.be/ZoD4fC4PvFk

With the economy sinking in part due to ObamaCare, is the Fed going to raise rates soon? Denninger says, “Janet Yellen doesn’t have any choice but to raise rates. We have an emergency policy rate right now that is destroying the pension funds and the insurance companies in this country. This is where the pressure is coming from. It has nothing to do with the economy. It has everything to do with fixed income bond ladders. That is a mathematical problem that Yellen has to confront. She certainly is going to take a lot of heat, but rates are going to go up.” Continue reading →

Mac Slavo ~ Obamacare Success: Half Of Georgia’s Insurance Enrollees Fail To Make Monthly Payment

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Activist Post  April 22 2014

The Obama administration has stated unequivocally that the debate concerning whether or not the Patient Affordable Care Act has been a success is over. They’ve won the argument and its evidenced by the tens of thousands of Americans who have signed up on exchanges across the country.

Here’s a small glimpse into just how successful Obamacare has been.

In Georgia, where some 650,000 people are eligible for subsidies only about 220,000 applications have thus far been received. So, to start, we’re about 70% short on the originally estimated sign up rate.

Even more successful than that, however, is that of those 220,000 received applications Georgia Health News reports that at least half of the applicants have failed to actually pay their monthly premiums even though most of those people are being subsidized by the government to some extent.

Georgia insurers received more than 220,000 applications for health coverage in the Affordable Care Act’s exchange as of the official federal deadline of March 31, state officials said Wednesday.

Insurance Commissioner Ralph Hudgens, though, said premiums have been received for only 107,581 of those policies, which cover 149,465 people.

“Many Georgians completed the application process by the deadline, but have yet to pay for the coverage,” Hudgens said in a statement Wednesday.

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