Healthcare Bill to Cause U.S. Hyperinflation By 2015

[redrumloa]

http://www.prnewswire.com/news-releases ... 11032.html

The Congressional Budget Office is estimating that the healthcare bill will cost $940 billion over the next 10 years, but if history is any indication, the actual cost will likely be several trillion dollars. NIA believes the healthcare bill will be the final nail in the coffin of the U.S. economy and will just about guarantee that we will see hyperinflation by the year 2015.

The U.S. government last week reported a record monthly budget deficit for February 2010 of $220.9 billion. Total tax receipts for the month were only $107.5 billion compared to outlays of $328.4 billion. The total U.S. deficit for the first five months of fiscal year 2010 was $651.6 billion, with tax receipts of $800.5 billion and outlays of $1.45 trillion. The deficit was up 10.5% for the first five months of fiscal year 2010 over the same period in fiscal year 2009.

We are now at a point where if the U.S. government taxed Americans 100% of their income, the tax receipts generated would not be enough to balance the budget. Likewise, if the U.S. government cut 100% of its spending including defense, but kept paying Social Security, Medicare and Medicaid, we would still have a budget deficit. NIA believes it will be impossible for the U.S. to have a balanced budget ever again.

 

[faethor]

Ahh the political arguements. The CBO is right when republicans are in charge. But, when republicans aren't in charge they can now claim the CBO is always wrong. Just another political game. :roll:

 

[koaftder]

Ahh the political arguements. The CBO is right when republicans are in charge. But, when republicans aren't in charge they can now claim the CBO is always wrong. Just another political game. :roll:

The republicans use the current CBO data to support one position and slam it when they want to discredit another. Nothing but games ):

 

[cecilia]

interesting take:

http://www.newsweek.com/id/235246

 

[redrumloa]

interesting take:

http://www.newsweek.com/id/235246

Thanks for the link. Not a bad article, though I think they paint the whole thing a bit more rosey than it is. I am glad to see the backed off the "Cadillac plan" tax at least a little bit. Overall, I agree with the 81% of americans who think this will cost way more than the CBO predicts.

Start working on an exit plan guys & gals. Hyper inflation is coming, as is nation wide civil unrest. The question is, where to run if/when our cities burn?

 

[ltstanfo]

interesting take:

http://www.newsweek.com/id/235246

Thanks for the link. Not a bad article, though I think they paint the whole thing a bit more rosey than it is. I am glad to see the backed off the "Cadillac plan" tax at least a little bit. Overall, I agree with the 81% of americans who think this will cost way more than the CBO predicts.

Start working on an exit plan guys & gals. Hyper inflation is coming, as is nation wide civil unrest. The question is, where to run if/when our cities burn?

I've been planning my exit for some time. It's down to one of three.. Chris Craft, Sea Ray or Well Craft.

Regards,
Ltstanfo

 

[ilwrath]

I've been planning my exit for some time. It's down to one of three.. Chris Craft, Sea Ray or Well Craft.

All three of those are nice boats.

Yeah, I've got Canada a quick jaunt across the Detroit River. I think I still have an inflatable raft in the garage. It'll make it. It wouldn't even be that bad of a swim, except the current is a b!%)#... Starting from the north tip of Grosse Ile, I'd probably end up somewhere on the south end of Amherstburg. If I miss that, hopefully I catch land somewhere before the falls!

But, seriously.... Nationwide unrest? I expect most people would hardly notice. They're broke now, and will continue to be broke, but American Idol is on, so everything's good. I've given up on the hope that the general population will ever actually get mad about what's been going on for the past 10+ years.

 

[redrumloa]

But, seriously.... Nationwide unrest? I expect most people would hardly notice. They're broke now, and will continue to be broke, but American Idol is on, so everything's good. I've given up on the hope that the general population will ever actually get mad about what's been going on for the past 10+ years.

What do you think will happen after hyper-inflation and total gov collapse? Few jobs, bread costs $100+ a loaf and people are starving in the streets? There are an awful lot of armed people in this country. Millions of armed people wanting to feed their starving families is a frightening thoughts.

 

[ilwrath]

What do you think will happen after hyper-inflation and total gov collapse?

I can't honestly expect that to happen, do you? Seriously?

It's in nobody's best interest to let the US Dollar devalue that quickly. We already know that the global economy is a sham, so I'd bet the dealings behind the scenes will keep hyperinflation away, and instead we'll just get a long, drawn-out, boring, slow period that won't inspire anyone to get off the couch, let alone collapse the government.

 

[redrumloa]

What do you think will happen after hyper-inflation and total gov collapse?

I can't honestly expect that to happen, do you? Seriously?

It's in nobody's best interest to let the US Dollar devalue that quickly. We already know that the global economy is a sham, so I'd bet the dealings behind the scenes will keep hyperinflation away, and instead we'll just get a long, drawn-out, boring, slow period that won't inspire anyone to get off the couch, let alone collapse the government.

Let's say I fear it greatly to the point I do not see any way around it with the ass holes we have in gov now. It won't be the first country, it has happened in Zimbabwe.

http://www.isliving.org/pages/zimb.html

 

[Glaucus]

Wayne, I believe this thread was placed into the wrong forum. I think it would be more appropriate in the Lizard's Lounge.

 

[ilwrath]

Let's say I fear it greatly to the point I do not see any way around it with the ass holes we have in gov now. It won't be the first country, it has happened in Zimbabwe.

It would be the first major country of the modern communication age. I mean, let's face it, no one had a vested interest in Zimbabwe. The Zimbabwean Dollar didn't exactly have a long list of other countries with holdings of it. No one stopped the disaster in Zimbabwe, because no one cared. Heck, really, the global power bigwigs were probably curious to watch the outcome of such an event.

And, after seeing it, do you think it would be in their best interest to let that happen to a country they DO have major holdings in? And lets face it, every country has a vested interest in the US. Some more directly than others, but the dirty secret is everyone knows they're in for a shitstorm should the US take a header. It's the economic version of Mutually Assured Destruction.

To say the US is a completely different situation is a vast understatement.

And, really, the economy is one of those funny situations. Since it's so abstract and mostly based upon shams nowadays, anyhow... Wishes, crazy manipulations, and backroom dealings actually do shape the "reality" that emerges.

 

[redrumloa]

@ilwrath

We are now at a point where if the U.S. government taxed Americans 100% of their income, the tax receipts generated would not be enough to balance the budget.

And now we will be supercharge spending? There is no other path to follow other than inflation. The question is no longer will there be inflation, but to what extent? One theory is our gov is specifically trying to induce hyperinflation, as it is the only way out of the national debt.

 

[ilwrath]

We are now at a point where if the U.S. government taxed Americans 100% of their income, the tax receipts generated would not be enough to balance the budget.

Where do you get this crazy quote, and what sources did they use, if any? It's absurd. As best as I can find, Current US national debt is something like 98% of GDP. So if you taxed 100% of income, you'd not only balance the budget, you'd pay off the entire US national debt in a single year.

The question is no longer will there be inflation, but to what extent?

Very true... Though, once again, it's in nobody's interest to quickly devalue the USD. It'll be a long, slow, boring process.

 

[FluffyMcDeath]

Inflation has already happened. The banks did it. They expanded the money supply recklessly by enormous amounts. They also exported a lot of that inflation. The trillion dollars of new government bond debt was just moving the bubble from Wall St to the government. More went into the Federal Reserve. But on balance we still have a huge amount of dollars that have just disappeared. In effect there is deflation because the money supply has contracted in aggregate.

 

[smithy]

http://www.prnewswire.com/news-releases/healthcare-bill-to-cause-us-hyperinflation-by-2015-88711032.html

The Congressional Budget Office is estimating that the healthcare bill will cost $940 billion over the next 10 years, but if history is any indication, the actual cost will likely be several trillion dollars.

It will probably go over budget, but even then this amount (only $94 billion a year) is a drop in the ocean compared to your government's enormous health spending.

 

[redrumloa]

In effect there is deflation because the money supply has contracted in aggregate.

Deflation before inflation and there is only deflation if you are looking at "Headline Inflation" from ~2006 to now.

 

[redrumloa]

Where do you get this crazy quote, and what sources did they use, if any? It's absurd. As best as I can find, Current US national debt is something like 98% of GDP. So if you taxed 100% of income, you'd not only balance the budget, you'd pay off the entire US national debt in a single year.

The quote is from the link at the beginning of this post. GDP is more than just personal income tax.

 

[FluffyMcDeath]

In effect there is deflation because the money supply has contracted in aggregate.

Deflation before inflation and there is only deflation if you are looking at "Headline Inflation" from ~2006 to now.

Headline or core "inflation" are not real inflation but CPI side effects of inflation, they are a proxy measure. Inflation is the expansion of the money supply greater than the productivity of the economy - which results in more dollars buying less goods which leads to price increases IF the "more money" is fairly homogeneously distributed.

If, on the other hand, a few people take control of the majority of the money and the vast middle class actually lose money then prices will generally be pushed down for non specialty (geared to the rich) kinds of products, up until the margins turn negative at which points production will cease on those products.

That rot hurts what's left of US manufacturing but it also hurts China but not before it hurts US companies that manufacture in China.

 

[ilwrath]

The quote is from the link at the beginning of this post.

Well, it's still not answering where they got this bunk from. 95% of all stats can be pulled directly from the anus. It doesn't mean they are anything more than a wild-ass guess. (See previous sentence.)

GDP is more than just personal income tax.

Not as far as I can tell. If you take Gross domestic product and divide per capita you get the mean value of the output produced per person, which is also the mean income.