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Off The Cuff: Our Out-Of-Control Cost Of Living

Health insurance for Chris' family went up 61%(!) this year
Thursday, January 12, 2017, 10:14 PM

In this week's Off The Cuff podcast, Chris and Mish Shedlock discuss:

  • The Runaway Cost Of Health Care
    • The premium for Chris' family went up 61%(!) this year
  • A Failure Of Intelligence
    • The lack of substance underlying the latest smear campaign
  • Fake News
    • When everyone is covered in mud, whom can you trust?
  • What To Expect As The Presidential Torch Gets Passed
    • How Trump's strategy is likely to depart from Obama's

Well, there's a lot of red meat tossed around in this latest podcast. There's something in it for nearly everyone to find righteous outrage with.

It begins with Chris railing about the year-over-year 61% increase just slapped onto his family's basic insurance plan. The ACA has quickly turned into a racketeering operation in many states like Massachusetts, where Chris lives. Mish joins in on the harsh criticism of the current system:

For some instances of some people, forty percent of their income going to health insurance.

And then look at the millennials. I mean, they've just decided to opt out. And who can blame them? They're not making enough money, but they just decided well, I’d rather keep it all. And they’ve decided that they will just rather pay the penalty if they get caught. But if they get sick, then they’ll join on the spot and get coverage. That’s the game everyone's being forced to play.

And nowhere along the line, as we’ve discussed many times, is there any impetus to control costs. And not only are there not any controls, there was nothing written into the legislation. And meanwhile, they call it the "Affordable" Care Act. As with any act of government, it has the exact opposite effect of its title. 

From there, Chris and Mish tackle the recent intelligence debacle where our government and media are trumpeting "findings" that are backed by zero evidence and unverifiable innuendo. When all sides look incompetent, where do you turn for trustworthy information?

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today. » Read more

Blog

The View From Under The Bus

A visualization of the extreme plight of the saver
Wednesday, November 30, 2016, 12:20 PM

Through borrowing way too much, bailing out rather than prosecuting bad actors, printing trillions of "thin air" dollars, a deliberate pursuit of financial repression and other schemes -- the future prosperity of the "everyday American" has been stolen by those in power and those positioned closest to the trough. Mathematically, this orgy of excess needs to be balanced by severe austerity; an austerity the elites are forcing onto everybody else. No wonder the masses are pissed.

Few visuals drive this injustice home better than this one of historical bank CD interest rates. Note how they've been in steady collapse since the mid-1980s. » Read more

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Along the continuum of irrational financial behavior, it can be tricky to tell the difference between a bubble, a mania, and mere touch of exuberance. A bubble is reserved for the height of folly, and history is rich with folly.

So how would we know that we’re in an ‘asset bubble’? What do they look like and what can we expect when one bursts? The Fed famously likes to claim that you can’t spot one until it bursts. But actually you can, and the definition is pretty simple.

Bubbles used to happen once every generation or so, because it took time to forget the pain from the damage. Today we are facing the bursting of a second major asset bubble, housing, spaced less than ten years from the bursting of the dot-com bubble. This is simply astounding and thoroughly unprecedented. It is the largest bubble in all of history and will probably be the most destructive. And it is happening right now.