gold crashAnalyst/trader Karl Denninger (who recently went John Galt)  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 longYou 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 an extremely bad law.” Join Greg Hunter as he goes one-on-one with Karl Denninger.

2oz Freedom Girl(2)

 

    • Hey Bub,
      That’s not the way this crappy program works. The young and healthy have higher premiums to support the older and of course when the young get older there won’t be ObamaCare. Sorta the same as Social Security don’t you think. The treasury has borrowed 2 Trillion from the Social Security fund and backed it with worthless I.O.U.’s

    • “The treasury has borrowed 2 Trillion from the Social Security fund and backed it with worthless I.O.U.’s”
       
      Those IOUs enslave a future generation in order to pay for the perks of the current VOTING generations.  This is taxation without representation BIG-TIME!  Since any future government will not have the money to pay off these IOUs, it will have to be either borrowed or printed.  I am betting on printed, since the line of people waiting to loan Uncle Sam any money grows shorter by the day.
       

    • Denninger summed up this whole thing quite nicely.
      What is truly amazing, maybe even amusing, is the number of people that  still really think come Jan. 1–they get FREE Health Care.
      Wow! Ya wanna talk about how the Obamma-Bot’s have bit this hook line & sinker??
      Thinking the Affordable Care Act is going to turn out to be affordable in exactly the same way that the Patriot Act has been patriotic.

    • What is truly amazing, maybe even amusing, is the number of people that  still really think come Jan. 1–they get FREE Health Care.”
       
      You got that right, 4-oz.  One can only imagine the looks on their faces when they discover on the now-infamous ACA web site that THEY actually have to PAY money for this “free” health insurance.  Idiots.  LOL!
       

  1. This shit hole bill is an accident waiting to happen. As a young person, you’d have to be a registered mongoloid to sign on for this. Since pre existing conditions are not an issue, just wait until you’re sick.
     
    This was designed to fail, period.

    • That’s why I am beginning to think that the ruling elite is preparing for the riots caused by Omabacare. Once the Obamazombies realize they were screwed and fined for not subscribing the riots will begin. It looks like the US Credit card is maxed out, the interest payments are taking all the revenues collected by IRS, so they needed a camouflaged tax to keep the scheme going. They called it Obamacare and sold it to zombies. Let’s see what happens after January 1st when the fines for not subscribing will kick in and they begin to imposed federal leans against private property. At the end all real estate will belong to the banksters.

    • Food 4 Thought – First, most youth don’t own SQUAT. But they DO look forward to a nice little tax refund of say 3-500.00.  The 400.00 penalty will nicely suck that up.  I feel pretty certain, the hot headed youth will shout WTF! They’re just STEALING money for something I don’t even get!
      As far as the BANKS and owning houses! HAHA- What good is a house that has sat empty for 1 year and is ROT with black mold throughout the house?  A house without people is good for nothing- they become condemned, then the banks own a piece of dirt, next to other pieces of dirt, in which no one wants, because everyones destitute and cannot afford a home loan.  In the end, ALL WEALTH becomes destroyed.

    • one more reason to underfund your tax liability throughout the year.  I’ve not once felt bad about having to send the government a check vs getting a refund.  Letting the gov borrow my money for free or keep it for myself?  Easy.  Now, I am not way under on my liability, but try to manage to always be writing a check.

    • liberals are “mongoloid” as you put it and will sign up in droves if the system works. Once signed up is when they get screwed and see the premiums.

    • “Now, I am not way under on my liability, but try to manage to always be writing a check.”
       
      You’d better not be.  They have a rule about such things.  ;-)
       

    • Just like they declared Obama Care unconstitutional?  One can only hope not.  No, wait, this isn’t unconstitutional, it’s a TAX!  lol
       

  2. It is all making sense now.  You have a government managed by people who have never run a business attempting to function as a business.   
     
    How do we remove the Senate & the House?  Where is the organization I can contribute to.
     
    The young & healthy peeps pay the fine for two years, then what?  It would be shtf moment for me, if I were them.  The fines imposed after the first two years are exponentially higher.  The majority of peeps applying have pre-existing conditions or no health insurance.  And, there will be no changes?  
     
    If this legislation does not implode on its own before 2016, American citizens are going to have the red ass paying penalties with a comma in them.  The unAffordable Care Act, covers the span of years.  In 2015, more new legislation is introduced, in 2016, 2017 and so on.  It is about …. control of the people. 

  3. Denninger needs to upgrade his low-res video cam.  My eyes are bleeding.  X-[
     
    Good interview, for once, though.  Hunter didn’t blabber on and on like he usually does.
     
    One point that really needs to be made over and over is that health insurance and health care ARE NOT THE SAME THINGS.  All too many people treat them as if they are one and the same and they are not.  Health insurance covers the possibility that we might get sick, not that we are already sick and in need of care.  Insuring a pre-existing condition is like selling someone car insurance AFTER they have wrecked their car.  Health care is what we get from docs, nurses, orderlies, and techs.
     
    Another point that is not often addressed is, where are we gonna get the docs and nurses to provide the care to 30M more people?  The only possible way is that appointments will be harder to get and waits will be longer.  Add to this that a lot of docs in their 50s and 60s are bailing out and retiring rather than deal with the Obama Care BS.  It simply is not worth the stress and hassle for them to continue working after they have already made enough money to retire comfortably.  This will make the doc shortage even more acute.
     

  4. I`m going to stick my neck out here.
     
    Medicare and Medicaide cost many times more than Social Security. The social security payroll deduction raises more money than the income tax deduction. The employer must match the social security, and medicare payroll deduction, thus more money is raised through social security and medicare tax deduction.
     
    AFFORDABLE HEALTH CARE ACT (OBAMACARE) WAS PUT IN PLACE TO REPLACE MEDICARE AND MEDICADE. THEY SAVE SOCIAL SECURITY, AND ROLL US OVER INTO THE NEW HEALTHCARE PROGRAM.
     
    You heard it here first.

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