Monthly Archives: August 2013

Americans are Now Traveling Overseas for Surgery

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“Growing up I recall hearing stories of how wealthy foreigners would frequently travel all the way to these United States in order to receive top notch medical attention. Fast forward a decade or two, and all I hear about now is how it is us Americans being forced abroad in order to receive affordable care. The article below from the New York Times, ‘In Need of a New Hip, but Priced Out of the U.S.’ is a fantastic, but depressing read on the subject. While this is an extraordinarily complicated subject, one on which I claim zero expertise, one thing is for certain. If a U.S. citizen has to travel to Belgium to implant a medical device made right here in the USA, we have a very, very serious problem.”

http://libertyblitzkrieg.com/2013/08/06/americans-are-now-traveling-overseas-for-surgery/

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How a $1 Bag of Salt Water Becomes a $546 Bill at Hospitals

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“Much like every other aspect of the U.S. ponzi economy, the healthcare system is one gigantic centralized oligopolistic racket. The New York Times has done some excellent coverage on this topic as of late, most recently in an article I highlighted earlier this month about how Americans are now finding themselves forced to travel overseas for surgery. That article demonstrated how the medical industry is simply one huge convoluted racket, in which contracts are secret and no one has any clue about anything except for a small group of players involved.”

http://libertyblitzkrieg.com/2013/08/27/how-a-1-bag-of-salt-water-becomes-a-546-bill-at-hospitals/

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An Important Weimar Republic History Lesson

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“Why did the German government not act to halt the inflation? It was a shaky, fragile government…More than inflation, the Germans feared unemployment. In 1919 the Communists had tried to take over, and severe unemployment might give the Communists another chance. The great German industrial combines — Krupp, Thysen, Farben, Stinnes — condoned the inflation and survived it well. A cheaper mark, they reasoned, would make German goods cheap and easy to export, and they needed the export earnings to buy raw materials abroad. Inflation kept everyone working.
So the printing presses ran, and once they began to run, they were hard to stop.”

http://www.economicpolicyjournal.com/2013/08/an-important-history-lesson.html

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Bill Bonner: The Fatal Flaw at the Heart of Modern Economics

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“What machine has intelligent parts…each responding to its own information base, more or less independently? Second…and perhaps more importantly…the parts have desires of their own. You build a machine to accomplish the desires of the designer. An economy, on the other hand, is merely a way for the constituent parts to achieve their own ends. Imagine an automobile that goes where the steering wheel wants to go! Imagine a motor that runs faster when the carburettor feels frisky. You can see that this is like no machine ever created. The parts want to go in different directions…at different speeds…for different reasons. The economy is much more like a flock of birds than a Boeing 747.”

http://www.dailyreckoning.com.au/the-fatal-flaw-at-the-heart-of-modern-economics/2013/05/22/

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Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash

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“This means that, as we expected several months ago, the only recipient of ongoing Fed money printing are not US banks, but foreign banks operating in the US. For those confused about the big picture, here is a chart showing the breakdown of cash held by big and small US banks as well as foreign banks, superimposed to total reserves created by the Fed since the start of the Great Financial Crisis. The correlation is 100%.  We are confident that we speak for all when we say: ‘Thank you Ben – insolvent foreign banks appreciate your ongoing QE2 and QEternity-funded generosity’.”

http://www.zerohedge.com/news/2013-05-21/thanks-qe-bernanke-has-injected-foreign-banks-over-1-trillion-cash-first-time-ever

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‘The Fed Is Trying Like Crazy, But Nothing It’s Doing Can Save The Economy’

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“David Rosenberg, the veteran Wall Street economist and bearish strategist at Gluskin Sheff, gave an intense presentation on Friday at John Mauldin’s Strategic Investment Conference. Titled ‘Bernanke: The Wizard Of Potemkin,’ this presentation offers a sobering look at the anemic U.S. economy, the labor market mess, and the Federal Reserve’s controversial efforts to get everything back on track.  Before you can even think about getting bullish, you must consider the eye-opening charts from Rosenberg’s presentation.”

http://www.businessinsider.com/david-rosenberg-bernanke-wizard-potemkin-mauldin-presentation-2013-5?op=1

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Ugly Americans Book: Eight Rules of Carney

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“I’ve been falling behind on my book reviews. Here’s an older book I found that made for good airplane reading – Ugly Americans: The True Story of the Ivy League Cowboys Who Raided the Asian Markets for Millions by Ben Mezrich. The book is supposedly based on the true story of young, male hedge fund traders during the mid-1990s Asian stock market boom who take big risks, make big money, meet beautiful women, don’t care about ethics… and after all that testosterone there’s the usual bit of self-reflection at the end. A major part of the plot even managed to involve boring ole’ index funds!  One of the main characters was head trader Dean Carney, who had his ‘8 Rules of Carney’.”

http://www.mymoneyblog.com/ugly-americans-book-eight-rules-of-carney.html

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Cody Willard: Game plan for a completely corrupted market

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“So, what’s the game plan? It remains the same.  You want to remain net long those inflated stocks for at least a while longer, but much less aggressively long than we were two and three years ago when stock prices were much lower. You want to keep buying and scaling into more real physical gold and silver (and a tiny position in Bitcoins too). Coins and bullion that you have stored yourself somewhere safe (not a paper promise, but the real stuff that you can hold). You want to start shorting Treasurys, but not rush into a big position anytime soon.  The trends and systems and bubbles we’re seeing in front of us presently can last much longer than most bears thinks possible.”

http://wallstreetallstars.com/game-plan-for-a-completely-corrupted-market/

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How Bad Can Things Get?

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“The typical American household has made no preparation for anything but the state-debt-feudal Status Quo: they have essentially no food, cash or energy in reserve, leaving the household extremely vulnerable to the slightest disruptions in income, energy and food delivery. How bad can things get? I confess to following Andy Grove’s dictum that ‘only the paranoid survive.’ Clearly, a healthy appreciation for risk and the benefits of advance planning should obstacles arise offers selective advantages. Even if 9 of 10 problems run into the ditch, it pays to look ahead and think about what responses are likely to be the lowest cost and most successful should any of the 10 reach us.”

http://charleshughsmith.blogspot.com/2013/08/how-bad-can-things-get.html

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Present Shock and the Fantasy of Change

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“Millennials (born 1982-2004) are pursuing high-cost university educations in the belief that multiple degrees are now essential to being offered a job. Even as evidence piles up that the economy has changed in fundamental ways such that even advanced degrees no longer inoculate the owner against financial insecurity, millions of young people feel they have no choice but to indebt themselves and spend scarce family resources on a questionable-value education.  The underlying assumption here is the present will endure, and change will be marginal. The idea that the narrative of history suggests major disruptions of the status quo are cyclical and thus inevitable doesn’t register.”

http://charleshughsmith.blogspot.com/2013/08/present-shock-and-fantasy-of-change.html

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