111. "Applied Economics: Thinking beyond Stage One" by T. Sowell

"Applied Economics: Thinking beyond Stage One" by Thomas Sowell. This started out like a college thesis -- ho hum, another professor -- but turned into a wealth of good information. I thought I'd jump to the chapter "The Economics of Medical Care" since this topic is of high importance with the bills circulating in Congress. READ this chapter! Using history of failed attempts of government plans (Canada, Britain, France, Japan, Korea, etc.) and consequences of other "price controlled" programs Mr. Sowell presents the best and most logical reasons why we should never be considering a government managed health care. You'll find NO politics in this chapter -- just facts and pure logic. I know your commons sense has already questioned the cost of government Health Care; learn here the total costs. For example, a Canadian was injured to where he couldn't work and required surgery which took 15 weeks to get, whereas, it would have taken 2-3 weeks in the U.S. The operation in the U.S. would have cost $2000 more (ignore who pays it because you do in all cases -- insurance premiums plus taxes). The hidden cost turns out to be the lost pay for 12 weeks he had to wait in Canada. You do the math of that "additional cost" a U.S. resident would not have paid and you'll find the Canadian ended up paying even more. And, that's in addition to 12 more weeks of pain or disability. Tons of examples are used. He explains carefully how controlling the price of goods and services artificially drives the price down -- i.e., the price we see. But he explains also how when these artificial prices get low the demand for goods and services goes up. People go for anything and everything. The result being longer waiting queues and shorter times with the doctor. In all the other countries, studies have indicated that the actual time you see a doctor per visit goes down dramatically because HE has to hurry. This then results in you having to see him MULTIPLE times for the same problem. They even plan this to get 2-3 times the now lower reimbursed cost. He further explains why Americas cost per capita is higher than other countries -- in reality it isn't when you compare apples to apples. This book is a MUST read. If everybody would read just this chapter, we wouldn't be arguing the Health Care bills! We would just throw them out.

110. "The 21st Century Economy: A Beginners Guide"

"The 21st Century Economy: A Beginners Guide by Randy Charles Epping. This is a MUST read. If you ever wondered what a specific economic term meant or needed a more detailed explanation, e.g., macroeconomics vs. microeconomics, or free trade controls, or stagflation, or collateralized debt, etc., this book on your shelf would be a very desired asset. It can be used as a reference or a cover-to-cover read where the author continues to lead from one topic to the next in a most articulate manner. Cloud computing, botnet, bond basics, mercantilism, pegged currency, tariffs, WTO, central banks, trade agreements, Swiss bank account, carbon tax -- and the list goes on and on. He is very effective in explaining each along with relationships to your life and effects on the economy. I'll be enjoying the remainder of this book for another week.

109. "Safe Money in Tough Times" by Jonathan Pond

"Safe Money in Tough Times" by Jonathan Pond. Don't waste your time. The title sounded of interest in these "tough times", but the content was nothing more than a couple of paragraphs on every little aspect he though was important in general in ANY times; I was lucky to find 5% of anything of importance. Thus, after a few chapters, I chewed it up and sent it back to the library.

108. "The Little Book of Main Street Money" by J. Clements

"The Little Book of Main Street Money" by Jonathan. Clements is a book of financial planning basics. No particular or detailed strategies, but a very good focus on disciplines that are psychological comforting and well thought out. This book is a good, easy read for the novice. However, after many years in the investment and planning I still sometimes feel like a novice. Hence, it was a great refresher to refocus back to principles instead of all the cluttered and weird strategies pushed by every corner financial analyst or so-called-expert book. If you have doubts about making investment decisions or fear every loss, find somebody else to run your financial life; OR, read this book first.

107. HC Provider Already Bailing Out

My Health Care Provider is already bailing out of selling insurance in Texas -- UNICARE. Guess the bills in Congress are too pessimistic for them. How many more will have a shakeout to only the most productive, profitable states? I suppose the other PRIVATE competition in state has caused some early evaluation of where to best benefit. Let's think a little: If I currently insure people in 30 states, but, using the ole 80-20 rule where 80% of the profits are generated by the top 20% of the states, why should I not drop coverage in the lowest and lay off the people to get even a bigger bang for my buck. Hence, goodbye Unicare in Texas and good bye more jobs. Thank you Democrats in Congress for your so screwed up Health Care bills. They are neither beneficial to the masses, nor cost effective. Time to drop the kludge and simplify the reform to basic needs. Soon you won't have to worry about competition -- the private companies will just go elsewhere and stick you with the burden of high risk people.

Oh, btw, no problemo with me. I found another provider that has even lower premiums and more benefits and am also guaranteed insurance with a new provider via a negotiated deal between Unicare and Blue Cross Blue Shield. The worry becomes Medicare in several years! Just how many dollars does the government want from the senior package to fund their kitty? $500B !!!

106. Hear the Geese Honking? Be Prepared

Was the DJIA low today of 9665 the support -- the trampoline that will now send us to 11,000? I suspect not yet, but would be ready for a positive response. My 9550-9600 is still my alert signal for a turnaround. It is also a level should the DJIA drop below that I will change to a new spring board level of 9490 (pray we don't drop below this one). I'm still going to expect the initial 9550-9600 as the point when the geese start honking and climb to 11,000. Turnaround could be Monday-Wednesday. This is your early heads up.

105. Market Following the Geese

I watched the geese flying south last week and called for a drop to 9550-9600. The initial surge in the market this morning due to commodity buying justified my decision and was a harbinger of a loss in confidence in the economy -- the momentum is off to the south for a while. I'll give you a heads up after I eat my Trick or Treat candy.

104. National Report Card

I need someway to keep track of the mess our nation is in. So, I decided to very concisely rates different topics. I'll give my grades to the Initial Plan, the Plan/Action after 2 months, the Results when Plan executed:

Topic - Initial / 2 Mo. Interim / Final Results
Cash for Clunkers - F/D/F
Economy - D/D/
Health Care Reform- D/F/
Afghanistan - C/C/
Copenhagen Global Climate Treaty - D/F/
Job Creation ($787B Stimulus) -F/F/
Immigration - D/F/
Bank Bailouts - C/C/
Auto Bailouts - F/F/
European Missile Defense - D/D/
Bank Regulation of Salaries - C/D/
Saving Medicare & SS - F/F/
Tort Reform - F/F/
Czar Vetting Process - D/F/
Cap & Trade - F/F/
Reduction of Foreclosures - D/D/
Transparency - C/F/

Government Corruption: CZAR vetting process, NEA, ACORN, Freedom of Speech (Chamber of Commerce, Fox News, Conservative talk radio), Freedom of Press (Fox News, Conservative talk radio), Bank Salaries (those note bailed out)

See how others feel. See The CNN National Report Card and roll your mouse over their questions (Q1 to Q10)

103. Yeah Team

As the Broncos rest their hooves this week, the Steelers got a break in the last 2 minutes on an Favre interception when Peterson missed an easy one and the ball relected into a Steeler's hands for an 80+ yard interception TD. Steelers 27 - Vikings 17. I din't watch much of the Cowboy game, but they appear to have walked over Atlanta 37-21.

102. Is Obama Poised to Cede US Sovereignty?

Lord Christopher Monckton will be on Glenn Beck Monday to discuss the impact of signing the Copenhagen Climate Treaty. Listen to what he has to say about the potential impact to America due to the formation of a World Government. This is a presentation he made in the U.S. earlier this year. This is scary and serious to We the People. Please also see this site for other details. And you thought the transformation promised to us by Obama was limited to America!

101. Roar Lions Roar

Convincing 35-10 victory at Michigan. The Lions were solid on both Offense and Defense. Clark threw 4 TD passes, Royster ran for another 100 yards+. Offensive line has improved greatly. And who can ignore the linebackers. Bowman was spectacular. Safeties also made important plays. Fight on State.

100 "The Next Great Bubble Boom..." by Harry S. Dent Jr.

"The Next Great Bubble Boom.: How to Profit from the Greatest Boom in History: 2006-2010" by Harry Dent is a copyrighted 2004 book I read before. Just thought I'd reread a few sections now that we are in 2009 and closing in to his critical 2010 date when the Baby Boomers become Bobos and change the spending patterns of the economy. Harry also predicts an economic crisis between 2010 and 2012 and a need to begin switching to fixed asset investing and business opportunities in China, Southwest Asia, and India. We've have already heard this call. An interesting book. I'm sure he has an update to this book. Check one out.

99. A Moral for Our Politicians

A drunk man who smelled like beer sat down on a subway next to a priest.
The man's tie was stained, his face was plastered with red lipstick, and a
half-empty bottle of gin was sticking out of his torn coat pocket.

He opened his newspaper and began reading.

After a few minutes the man turned to the priest and asked,
'Say Father, what causes arthritis?'

The priest replies, 'My Son, it's caused by loose living, being with cheap,
wicked women, too much alcohol, contempt for your fellow man. Sleeping
around with prostitutes, and lack of a bath.'

The drunk muttered in response, "Well, I'll be damned," Then returned to
his paper.

The priest, thinking about what he had said, nudged the man and apologized.
"I'm very sorry. I didn't mean to come on so strong. How long have you had
arthritis?"

The drunk answered, 'I don't have it, Father. I was just reading here that
the Pope does.'

*MORAL: Make sure you understand the question before offering the answer.*

-- Origin Unknown

98. From a Friend

This satire in no different than the economy czar saying the recession is over when we are still losing thousands of jobs every week. The Dept.of labor is on record that job losses will continue until the end of 2010. Anyone who heard Steve Wynn on Fox News Sunday educate the Governor of MI on how you stimulate the economy knows why the country keeps falling further behind.

Curtis & Leroy saw an ad in the Starkville Daily News Newspaper in Starkville, MS. and bought a mule for $100.The farmer agreed to deliver the mule the next day.

The next morning the farmer drove up and said, "Sorry, fellows, I have some bad news, the mule died last night."

Curtis & Leroy replied, "Well, then just give us our money back."The farmer said, "Can't do that.

I went and spent it already."

They said, "OK then, just bring us the dead mule."

The farmer asked, "What in the world ya'll gonna do with a dead mule?"

Curtis said, "We gonna raffle him off."

The farmer said, "You can't raffle off a dead mule!"

Leroy said, "We shore can! Heck, we don't hafta tell nobody he's dead!"

A couple of weeks later, the farmer ran into Curtis &Leroy at the Piggly Wiggly grocery store and asked."What'd you fellers ever do with that dead mule?"

They said,"We raffled him off like we said we wuz gonna do." Leroy said,"Shucks, we sold 500 tickets fer two dollars apiece and made a profit of $898."

The farmer said,"My Lord, didn't anyone complain?"

Curtis said, "Well, the feller who won got upset. So we gave him his two dollars back."

Curtis and Leroy now work for the government. They're overseeing the Bailout Program.

Limit all US politicians to two terms: One in office One in prison. Illinois has already started this!

97. Tennessee Already Tried HC Reform

There was an interesting segment on news tonight that reviewed the Health Care reform they have tried to cover everyone in their state. The segment claimed that Tennessee's reform is most like the ones flying around in Congress pushed by the Democrats. The plan when activated lowered costs the first year. However, the costs became so prohibited that services were cut back in 2005. Read all about it in this Wall Street article. Then think again about what is trying to be forced upon you by this Congress. To supplement the bleak economical impact the Health Care reform as in bills today, you might also consider another commentary on the news that Moody's has reported that America triple A rating will be downgraded in 3-5 years if it continues to increase its deficit. This blow will make it more difficult to get a loan from other countries and at a higher interest rate. Now do you understand how deep in crap we are already? Now do you understand why ONLY tweaks to the current Health Care system need to be made and not a complete overall? The impact would be catastrophic to our dollar's value which is already in sad, sad shape -- foreign central banks who once owned 60% of their reserves in our dollars have already started and already hold considerable reserves now in Euros. The world is not taking our borrowing and deficits lightly -- you shouldn't either.

96. Victory for Freedom of Speech and Press

Obama's administration tried to exclude FOX News from an interview with the Pay Czar Ken Feinberg, but the other four networks in the "pool" of news agencies invited would NOT do the interview unless FOX was allowed. Kudos to those networks who stuck up for Freedom of Press and Freedom of Speech. We the People shall NOT be corrupted by this administration. These are OUR rights!

By the way, from what I viewed on FOX News, Ken Feinberg very succinctly and convincingly justified the limits on executive pay for the top 25 executives in seven companies who were given TARP money and have still not paid it back. As I understand it, We the People own a large part in these companies and were entitled to be protected from the vultures who scarfed up our money. Also, as I understand it from the short clip I saw, just the cash salaries were limited. This I interpret as providing perks, such as stock options/rights, would be acceptable to compensate for the loss in cash. The benefits of options/rights would be dependent on the growth of the company. Bottom line: I really don't see any benefit in the limitation other than keeping the costs off the accounting books for the next quarter. There has always been accounting schemes to DEFER income -- options/rights are a vehicle to do this.

So, the importance of this whole event becomes the Freedon of Speech and Press! We win. The government losses like it should.

95. Bravo Blue Dog Democrats

Kudos to the Blue Dog Democrats (a breed I can relate to despite being a Labrador Retriever) who chose to reject, along with all the Republicans, the Doctor Bill that would have permanently prevented Medicare payment cuts to doctors at a cost of almost $250B from our pockets. Voting on this bill separately from the overall Health Care bill a deceptive way of keeping the true Health Care Reform bill cost under $900B. Had it been incorporated into the overall bill of reform, the cost would still be over $1.1 Trillion dollars and above the highest cost Obama could accept -- unless he is lying once again. This Wall Street article describes the actions related to the Doctor Bill.

94. Roller Coaster Dip Ahead

I have seen a shaky, undecisive last 2 days in the DJIA. So, today I'll call the DJIA's drop toward 9550-9600. Get your cash ready at the bottom once we get past the Trick or Treat times.

93. Ride Those Broncos

Forgot to acknowledge the great game the broncos had Monday night - a victory over the Chargers. But, coming soon, I believe in 2 weeks, they get my Steelers. Still, I must confess I am impressed with Denver's Kyle Orton despite not even know who he was until this year. Where did he come from? Receivers looked awesome this game too.

92. Bipartisan Health Bill - PinOchiO lies again

Dream on PinOchiO. See what the truth-o-meter at Polifact.com has to say about this Obama lie. I keep wandering when the transparency Obama promised is going to take effect. As he said about FOX News this week and comes right back to bite him in the butt: "Smoke and Mirrors." Why not check out all the false statements from Obama. Don't forget the pants-on-fire ones here and the barely-true ones here. I wonder if Polifacts.com will now be on his hit list to be deleted come Thursday when the Net Neutrality people go after the Internet.

Truth is mighty and will prevail.
Author: Thomas Brooks

91. Should I Hide Under the Bed?

Was out doing my job in the yard the other day and saw the FOX hiding under the back porch. Asked him why. He said even though he agreed to stay out of the hen house in exchange for Free Speech he was put on the hit list because he voiced his opinion -- backed by pure facts. So I told him to get on back out here and let's talk about it. Seems the hen house is now "owned" by the current administration. He said he the FOX is the only one at the moment on the list, but I wonder how can his Free Speech be stifled in this great country of ours? Thinking about it, in the past few weeks our Education has been threatened with indoctrination tactics, the NEA was corrupted with partisan propaganda projects, the TV programs bent to subliminally inject administration messages in their programs, mostly liberal newspapers that are dying are being asked for proposals to bail them out, this Thursday our free Internet is being challenged to "balance" content, and Fox News was "spanked" while being boycotted by the administration for reporting truths. Get the picture folks? Can you feel your tongue swelling in your mouth? Maybe more of you should join me on the couch, watch FOX News and research for yourself the Marxist type of people we have in the administration. When Mao Tse-Tung worshipers sit along with other proclaimed Communists and Marxists in OUR administration -- grrrr, even I can't believe this is happening in America. Even if you hate Glenn Beck, you must admit he has uncovered the truth about ACORN, Van Jones, NEA, and many other already proven Chicago-style corruption connections. His facts are scary -- unfortunately they are incredibly believable. Just who is running the Big Show? Well, Mr. FOX, you come right on out here and hold your head high -- We the People will protect you. Always have, always will. Free Speech is our most valuable Right and our founders, in particular Jefferson, told us to be skeptical of our government and to challenge what is not right. With this post I might be told to go back on the porch too like Juan Williams was told by Warren Ballentine for speaking up and disagreeing with his liberal nonsense -- see this site. Protect your American Rights -- stay awake.

90. R U A Clunker?

Okay Cash for Clunker fans. Still believing that the so-called stimulus propped up the auto industry? Seeing a big rebound in U.S. auto sales in September and October? Not, Not! More money down the drain out of our pockets. Maybe you should read Fair Tax, post 86. You'll see within an example of how a GM Cadillac is priced and sold around the world compared to the Mercedes built in Germany. You'll learn about the Value Added Tax (VAT) in Germany that they ADD to the U.S. built cars when they arrive in Germany for sales and how it is SUBTRACTED from the Mercedes. You'll also see how we allow the Mercedes to come in untaxed, of course with the VAT already SUBTRACTED from the production price, to compete with the Cadillac here. After reading this I'm sure you'll better understand why the foreign cars, other than just being built better, are shoe-ins for Americans. So, how to you fight a dying U.S. auto industry? By artificially increasing sale for one month, or by better managing the taxes on our products? Please pick up "Fair Tax...." as posted in #86. And please note the ineffectiveness of another Obama bailout. I hope you were one of the lucky few who traded in your clunker and could take advantage of the tax dollars you spent to fund it. There is one PRO for the program though -- finally got more of those Obama bumper stickers off the road. Another common sense prediction.

89. Let Me Off This Bus

STOP! Isn't the Tax Code enough? Go ahead. Go read the "simplified" version of the Baucus bill here. I don't need this in my life. I'm going to accelerate aging to 65 BEFORE I have to put up with yet another government mess -- Medicare will be bad enough. Why don't we just cut out this crap?

88. Volunteer Week

By this time I am sure you have heard about Volunteer Week, i.e., the week TV shows embed subliminal messages into their shows that encourage people to get out and volunteer. Do you really think that's necessary. Unlike Glenn Beck who ranted against it for at least 20-25 minutes on his show, I have no problem with encouraging right morals. Maybe some of our children will actually pick up on the things we parents have tried to instill in them for years -- maybe they just need to hear it from their really TV people idols. However, when TV shows begin doing this, what is there to stop them from embedding ANY MESSAGE into their programs. I remember distinctly the ploy Boston Legal used to drive the progressive platforms. Right up to the day before the presidential election when even Denny decided to vote Democratic against his real values. Boston Legal had to be the worse offending partisan program on TV, other than the constantly liberal major news networks. But, what should be done? I would be prudent letting children watch programs which deceptively brainwash them into thinking only one way is right and not to ever consider opposing arguments. Even Sesame Street is becoming suspicious with Michele Obama making visits. The intents may be honest, but their stories not necessary truth. So goes Hollywood and its liberal base. I can understand why Glenn Beck gets so aroused -- this must be just one more infiltration into corrupting media in his mind. I let it to you to decide. You may approve of the messages being subliminally embedded into programming today, but will you be when a different administration takes over?

87. A Doctor Speaks Up

I've said it before. Read what a doctor has to say about the Baucus Heal Care bill here. If you haven't already seen the bill, now 1500+ pages with an additional 418 page overview. You can read one version at the KPAX site. I have not read it yet. Just the size depressed me too much. I'm just not in the mood to spend trillion of dollars. Do note that Medicare was supposed to cost $19B and Medicaid $1B and turned out to be $119B and $41B. This shows you how accurate the CBO really is. I challenge you to find one bill that has been priced right! The Baucus $829B bill is already short the $245B cost of a separate bill they chose to vote on separately. So, take the ballpark $1T for the cost and multiply by 10 to be conservative. Not only will you be paying higher taxes, but your premiums will also be higher, even beginning 2010 before the new "benefits" even become available (2013-2018). I'm going back to my dog house to take a nap and try to forget this nightmare.

86. "The Fair Tax Book: Saying ..." by Boortz & Linder

"The Fair Tax Book: Saying Goodbye to the Income Tax and the IRS" by Neal Boortz & John Linder

Excellent book. Extremely logical and well organized to explain TOTAL taxes you pay -- that is your income tax, as well as, the hidden taxes in consumer products passed through by every entity involved in the creation of the product. A study by Dr. Dale Jorgensen, chairman of Harvard Economics Department, is referenced and shows an average of 22% of every every dollar you spend on a product or service is due to taxes of businesses (growers, transportation, manufacturing, marketing, insurance, etc.) passed through to the consumer. In other words, the 35% taxes paid by businesses on their profits, are really paid by you and me when we buy their products -- i.e., the hidden taxes imposed on YOU. The authors explain how a flat tax of 23% on the sale of products and services can REPLACE the IRS and all the tax code mess -- this includes business taxes, Social Security and Medicare taxes (yes, those deductions from your pay you ignore), individual income taxes. Here's the real kicker -- you wouldn't think so, but the low income people make out like bandits with the flat plan described in this book. Plus, there are side benefits, like bringing businesses back home to America, as well as, dollars kept in foreign banks and foreign businesses to America. I'm on the the chapter Questions and Objections at the very end of it. Plus, I'll be reading its follow-on 2008 copyright "The Fair Tax: The Truth, Answering the Critics." I believe understanding and believing Dr. Jorgenson't study is the key to accepting this plan and I will search for it. Assuming it is statistically valid, the flat plan is very convincing. I listed "politics" as a topic key word for this post because like everything else, regardless of the validity of a plan, the other party will always oppose. This blows my mind! When the logic is solid and congress people still oppose, common sense says those opposed are clueless and should be shitting on their home throne instead of a congressional seat. We the People need to take our country back. I highly recommend this book. Share your comments if you read this.

85. Back to DJIA 9600?

Which way will the market move next week? Sorry. Can't make a call yet until another day or 2. But, I would expect a drop either next week or following week to 9600 before the rush to 11,000. Your guess is as good as mine. My crystal ball still sees a drop of up to 7%; but, from what level? A drop of 7% from the 10,300 level I mentioned in a previous post would take it to 9600. A drop from 10,000 would be 4% to 9600. If the latter, I'll predict a second 4% after a short recovery. Either way, 9600 might be the next low until next year and I would BUY, BUY, BUY if someone wants to send me $$$ so I can BUY!

Money is like manure. If you spread it around it does a lot of good. But if you pile it up in one place it stinks like hell.
Author: Junior Murchison

Nobody wants my bones!

84. Fight On State

Penn State 20 - Minnesota 0
A SHUTOUT

83. A Quote for President Obama

Oh what a tangled web we weave, when first we practice to deceive!
Author: Sir Walter Scott

82. "Biography of the Dollar" by Craig Karmin

Not a very informative book. Money traders, Ecuador's dollarization, the Bureau of Engraving and Printing, the Nixon, Johnson, and Volcker influence. That's all folks -- a not-so-interesting read.

81. The Fabulous Change -- More Job Losses Expected

As the clowns in the government continue to dream of their individual status and that of their parties, we try to sleep at night pondering their destruction. I thought about job losses last night. Especially next year when the government wants to begin collecting $6.7B from Health Industry entities on top of other specific surcharge taxes. ANY charges to health care providers and insurance companies will of course be passed on to We the People. It is given that costs are going up beyond the natural cost of health care until (if you believe them) the new services become available to us between 2013 and 2018. Well, that's not the only pain I see. How can an insurance company ever stay in business paying higher costs up front (portion of $6.7B+ between 2010-2013) and NOT collect additional revenue from the people who don't have insurance today? They can't without laying off people.

The last thing this country needs is more JOB LOSSES and a reduction in spending while the Fed sometime soon will have to combat inflation by increasing rates (you know the routine: print more money and create more debt to cover the cost of government spending which inflates the money supply, which devalues the dollar more, which to you and me means it takes more dollars to buy a loaf of bread, and also leads to more job losses, which raises the price of global assets -- oil, silver, just about 70% of trade -- because things are traded in the now devalued dollar, which causes us to pay more for oil, gas, and energy, etc. --> hyperinflation).

Now is NOT the time to doze again! Wake up and get back to seeing the big picture. Common sense tells you we cannot afford to risk our country and standard of living for this Health Care bill as defined today. Oh, let me throw something else at you: If the dollar gets devalued much more, it will lose credibility as the universal money in the world -- over two thirds of the foreign central banks hold dollars in their reserves and over 70% of international trade is in the dollar. China and some other countries are already starting to build reserves in Euros. The demise of the dollar could be catastrophic.

80. DJIA Close Over 10,000. Now what?

The DJIA made it to its resistance level today. Actually broke through. I'm looking at 10,250-10,300 to be convinced that it will continue to 11,000. Support I'm listing at 9550-9600 though November. My target is still at 11,000 by year end. Given a possible $6.7B fee assessed to the Health Care Industry beginning 2010 as stated in the bill passed by the Senate Finance Committee, I'd be careful investing in that area. Most likely all those assessed will pass the cost along to you and me. But, the thought of the government meddling with your health care and salaries of health care insurance executives will affect you in one way or another. Also, there is a lot of services being pushed down to the States which will passed on to you via State income taxes or property taxes. The rush to 11,000 could be short-lived in 2010.

79. Up Goes the Health Care Insurance Premiums

The Baucus legislation summary that passed the Finance Committee in the Senate can be accessed here. There are a lot of nice "statements" in this summary that we all need to check when the legalize language comes out and after all bills are merged. Specifically for the Medicare recipients such phrases as the following are encouraging: "Absolutely none of the Medicare benefits will be cut", "aggressively fight fraud", "annual wellness exams...eliminate out-of-pocket for screening and prevention services." Another eye catching phrase was"prohibit illegal immigrants", but in two other places they limit or exclude services for "undocumented individuals." Highlights that may interest you are as follows:

• 2013 - the year insurance companies MUST provide insurance for everybody, i.e., no preexisting conditions or other reasons, and at premiums that are not gender specific.
• For the Medicare people, expect the doughnut hole to be covered at 50%
• Premiums can vary, but only by age (up to 4:1), Family (up to 3:1), and Geographical area (unknown) with a maximum total ratio of 6:1
• HSA's remain in effect but you'll be penalized 20% if you take out other than medical withdrawals before age 65.
• Premiums and coverage is supposed to be standardized and available beginning 2013. However, the States will be doing this through its exchanges and have 5 years to do it. So, sometime between 2013-1018.
• Non-profit co-ops are the plan to compete with private insurance companies through exchanges.
• Get this: "Require members of Congress to but through the same exchanges." Don't get excited though, because they are probably a "company" that offers insurance and covered by the language that you can keep you current insurance. So, fluff words.
• Web-based exchanges, i.e., Internet technology for research, application, etc. at exchanges
• Credits to buy insurance for up to 400% poverty level

The plan improved a little compared to previously evaluated plan, BUT NOW the PAIN:

• Although no new health insurance is available until 2013 at the earliest (conveniently after Obama's first term), the government will start to collect fees and taxes from health care entities in 2010. Guess who gets to pay these! How about an annual fee of $6.7B assessed to the Health Care industry (hidden as the last item in the summary on last page) to be apportioned. Up go your premiums! How about more job losses too!
• Beginning in 2013, the floor for medical on Schedule A Itemized Deductions will become 10% instead of 7.5%. That's a healthy $2000 you will lose in deductions translating to $700 actual loss if you are in the 35% tax bracket. Of course this will be much higher if the tax brackets change from today -- duh, think they will? This new floor applies to under 65 people beginning 2013. The old folk get a reprieve until 2016 before they lose several weeks of lunch money.
• Yes, there are penalties to those not getting insurance, but such a small amount who would ever get insurance if they willingly do not want it today. Might as well wait until something big happens; then get the insurance since the insurance companies cannot deny you.
  

Ok. Enjoy reading the summary. The bill I heard will be about 1300 pages BEFORE it is even merged with the others.

78. "The Money Men" by H.W. Brands, c2006

Very enjoyable historical about the leaders of banking changes in the United States. Gets down to quotes from letters between players, particularly adversaries, during attempts to create the first, second, etc. National Bank. Really interesting why there was so much resistance and what each side did to destroy the other. Amazing parallels to economic struggles today, except, at least for now, for even more devious actions that intentionally brought down the economy. Really drives home the relationships between fiat dollars, species money, foreign trade & at that time inter state trade, and underlying businesses, for example railroads and steamships, affected or used to play the markets. After reading this you WILL become skeptical of the money men and government today and how they affect your life.

77. "The Coming Collapse of the Dollar and How to Profit From It" by Turk and Rubino

Yuck. Tasted good for the first four chapters, then went downhill from there. The history of failing currency in Rome, Germany, England, and France were good examples of how excessive debt will eventually bite you in the butt. The history of gold as money and the gold standard wasn't anything new, but ok. After that though, when it started to bring oil-gold and dollar-gold relationships to light, the charts and explanations lost credibility. One chart was used twice: the first time to show the stability [NOT] of oil and then a second time to show the how very variable the oil-gold relationship was. Following were some chapters on gold's uses today; then, how to invest in gold. The final chapters were scenarios of the future (after 2006) which were common sense results of the credit crunch. It was there that it was predicted that gold would go to $5000/oz. Never saw it, despite a fairly accurate portrayal of other crisis events. So, bottom line, don't waste too much time on reading this.

76. Woo-hoo 52-3 The Lions

I think the cheerleaders played the second half.

75. $$$ Books

In post 67 I said I'd have to chew on a few $$ books to get a better grasp on the oil-to-dollar relationship. Here's what's in my dog house at the moment:

"The Money Men" by H.W. Brands, c2006 -- very easy ready beginning with Alexander Hamilton and the creation of the central bank system right up to WWI. How, why, political battles, consequences.

"The Coming Collapse of the Dollar and How to Profit From It" by Turk and Rubino -- Why the continuous, unsupported printing of money and creation of debt ALWAYS leads to the collapse of the fiat currency. Starts with history beginning around WWI and continue with key statistics and useful info through its copyright in 2004. Very accurate title in 2009! Read about the gold standard and investing in gold and other hard assets today.

"Lords of Finance" by Liaquat Ahamed - Portraits of the key four men during the Depression years that influenced the economy and how.

Please be patient for highlights. I'm a slow eater and like a variety of snacks at a time.

74. Steelers, Broncos, Cowboys

Predictions please. I'm going with Steelers (vs. Lions) and Cowboys (vs. Chiefs). This weekend the Broncos (vs, Pats) lose their first game.

73. Go State -- High School Prom

Yes, the Nittany Lions are playing another lower division school -- Eastern Illinois. That should solidify their NCAA standing! I really can't understand why the Lions have these schools scheduled. It's certainly a lose-lose conclusion for them. Only Eastern Illinois can benefit from beating the Lions. Oh well, Go State . Don't forget to attend the high school prom afterwards.Noon EDT kickoff - I'm sure I'll be listening to radio for this big game.

72. Count the Illegals?

Why do the Democrats want to count the illegals in the census? Remember ACORN -- the corrupt organization who the U.S. Census just broke a relationship with? How about SEIU, a massive union also in bed with the government. Well, let's see who the U.S. Census will be working with now and why? Is everybody familiar with redistricting? You know, changing the boundaries of voting districts within a state to capture the most party loyalists for the next election. Well. redistricting depends on census statistics. If you count the illegals, even knowing that they individually have no vote in an election, districts can be created based on population size allowing more representatives to be added for the state and to represent the state in the House. Look at the states with the most illegals and you can see clearly that they are Democratic. Got the picture? Yes, counting the illegals skew the House Representatives more to the Democratic party. This is another element in TRANSFORMATION of America. Or is it better to say CORRUPTION? Wow -- Van Jones=Communist and now gone from government (we think) and now Mark Lloyd = Pro-Marxist Diversity Czar (see this and also this ) and his connection to Robert McChesney who together through the FCC are defining new guidelines that may affect your Freedom of Speech, at least from what you can listen to, i.e., which media.

Put the pieces together people. Use your Common Sense.

71. Unconstitutional to Deny Illegal Immigrants

Have you been following athe ssertions by constitutional lawyers and judges lately that illegal aliens cannot be denied Health Care? According to them, any social program offered to all "persons" in America must INCLUDE illegals. The word "persons" is construed as anybody within the borders of United States regardless of citizenship. Obama, being a constitutional lawyer and graduate of Harvard should have been clearly knowledgeable of this. Thus, when Representative Joe Wilson decried "liar" during Obama's congressional speech on Health Care re the legislation not being available to illegal immigrants, he was right for now a second reason. When will Obama's PinOchiO imitations cease! Now, I want to remind you that, regardless as to the very clear statement in the current bills in congress that illegal immigrants would not be available to them, it is unconstitutional to deny them. So, we are now looking at an additional 15 million people in the system. Also note that a Congressional Report came out stating the same thing AND the CBO already factored in one third of the illegal immigrants when coming up with a price tag -- so what will the other two thirds cost?.

So, you ask: suppose we are all blinded by the statements in the legislation and do not know the constitutional bit. What then? Well, if it passes, the Supreme Court would probably get called to review a case and decide formally that it was unconstitutional and therefore nullify the statements forcing us to add 15 million to the system.

This sounds more than a lie this time! This is just plain deceptive to We the People. Please read my next blog on the census too.

70. $829B (to $4 Trillion) Health Care Reform!

I'm glad I buried my bones in the back yard. I can just afford to pay my monthly insurance premium now! Looks like I'll be digging up some bones to trade for worse Health Care benefits at a higher cost.

Today the CBO put a price tag of $829B to the Backus plan. Please note however, that they first admitted their original estimate was short by $29B. Also note that all 10-year major plans estimated by the CBO over the last several decades have been only a fraction of the actual costs (costs turn out to be 4 to 5 times more is what I just heard). Not unbelievable since we already heard proven stories where even a hammer cost thousands of dollars. But, don't take my word for it. Some important caveats to the CBO cost were released with their estimate and documented here. For example: "...the estimate does not include the costs of proposed payment increases for doctors serving Medicare patients, roughly $200 billion through 2019. Additionally, a so-called fail-safe mechanism to hold spending in line could result in cuts as large as 15 percent in federal subsidies designed to help the poor afford insurance, CBO said." Whoa. Don't get fixated on that $829 B figure! It has already shifted, by the CBO itself, upward.

And do you believe that the following statement from the article: (1) "Health care legislation drafted by a key Senate committee would expand coverage to 94 percent of all eligible Americans"? If we logically subtract the illegals and Medicaid people from "eligible" today, we are talking about 47 million (the number they gave us as having no private insurance plan) - 15 million illegals - 9 million Medicaid = 23 million eligible Americas. That is 23M/295M, where 295M = number of "legal" people in America, or 7.8% of "eligible" Americans are uninsured today. Guess that means 100%-7.8%=92.1% ARE INSURED. (all their figures). So, for somewhere between $1 Trillion and $4 Trillion we are going to drastically change our Health Care system to cover just 2.9% more. But wait, here is what they said later in the article: (2) "Under the proposal, the share of legal nonelderly residents with insurance coverage would rise from about 83 percent currently to about 94 percent," Elmendorf said. Elderly Americans are eligible for coverage under the federal Medicare program." NOTE: the 94% stated in (1) is no longer a percentage of all Americans, but only legal nonelderly residents. Then note, the smoke and mirrors of going from 83% to 94% to make you think you are getting something significant. Well, the facts, based on the quotes from this article, produce a change from 92.1% to 94%! No thanks! Not buying your propaganda.

Also, don't forget that through magic they are going to finance this monstrosity using $400B+ from Medicare; fraud money that our government never attempted to recover and still refuse to initiate recovery until this bill is approved and they commit you and me despite we knowing that they are lucky to recover $4B! (But, of course they will lead you to believe that the fraud they saved from us would have been yet another $600 B had they not implemented something -- like an aide on a keyboard to lie to you).

I encourage you to review all the "medical" category blogs on this site to understand the big picture. Then use some Common Sense to analyze how your elected officials in Washington are planning to take even more dollars out of your pocket. The whole reform can be done in a tenth of the cost if they would just get out of politics mode and into We the People mode. What a disaster.

69. Another Viet Nam?

This article is an update to the debate on sending 40,000 troops to Afghanistan. Master served during the Viet Nam war and reminds me how President Johnson decided to casually toss a few troops into the war again and again and at no time put the required number of troops there to finish the war. Also, with an unstable Afghanistan government, we are in the same predicament as we were in Iraq -- you have to militarily stabilize before you can comfortably train the foreign forces AND rebuild the government and land. I'm afraid to say, sending 10,000 troops at a time, every six months or so, will worsen the conditions. Not enough to turn it around. Too little to matter. This will increase the Taliban confidence and increase attacks. It means more US deaths for a longer period of time. I'm in disbelief that Obama cannot learn from history. However, I am not in disbelief that he is clueless in commanding a war. Let's hope his strategy is to put 40,000 troops over there to support existing troops and reduce the deaths. Then to send 10,000 at a time over to train. Followed by more to rebuild. If we estimate the number of troops over time instead of just this initial surge, we should be able to discern, like saving for college, investing today is the better payback over time. I would venture we'd get out years earlier if we invested now, than to make another Viet Nam out of this. Didn't he learn from the Soviet Union's effort in Afghanistan either? Don't wimp out now or all our Allies will leave you there alone too!

68. Let Me Run - Market Going Up

Take me off the leash and I'll run all day long. This market gives me the "free" feeling again. I suppose we bounced and can again run for awhile before we need to pull back at the instance of merely a whistle. I say run towards DJIA 11,000. Except for the 13-year bubbles between 1995 and end of 2008, the market showed a normal exponential growth. So, what's wrong with expecting a conservative retracing of that curve? We're on it now. Next resistance is 10,000 plus or minus 100. Beyond that depends on whether we solidly break through 10,000 towards the next stop of 11,000.

There have been rumors that Obama is feeling the pressure of supply-siders to cut taxes. Makes sense -- Common Scents. Reduced corporate taxes means more hiring. More hiring means less unemployed. More hiring means more spendable income to spend. More spending means growth to small businesses (retail and services), as well as large (suppliers of capital goods and services). More spending means economy growth. Better economy means more investors in small businesses, both existing and NEW (this is where rich put money -- this is why you don't want to increase taxes on the rich). More business growth = more jobs = more spending money = more profits = salary raises = more spending money. And so on. Only this time, please don't make the credit mistake again! People need to EARN the right to better financial health. Stop the give-aways. We don't need to topple the economy again with unrealistic loans -- we worked and rented for 5-6 years to get enough down payment for a house. So, what's wrong with the same paradigm today?

Oops! Off the subject. Back to the market. You're on your own whether you want to buy stocks now. You missed a good 3-4 days before the last 2 to get in. There is still something left in the rise, but, 10,000 will be the testing point. If it again is resistance, 9325-9425 could again be the support. Do pick solid performers though until Obama lowers taxes.

67. Oil-to Dollar? Oil-to Basket of Currencies?

Glenn Beck tried to make a possible switch of oil-pegged-to-the-dollar to oil-pegged-to-a-basket-of-currencies a negative thing for America. I’m no economist. But here is my thinking? Am I wrong?

Dollar-Oil Relationship (today) – Oil MUST be bought/sold in dollars

(Dollar-to-Oil Relationship) - If the dollar strengthens then more oil can be bought for a dollar; conversely, if the dollar weakens, it takes more dollars to buy the same amount of oil.

However, a reverse relationship (Oil-to-Dollar Relationship) also exists. If oil stability (inventory) is disrupted (war, cartels, terrorists, supply itself), the price of oil goes up and drives the dollar down. If oil inventories look better, supply & demand drives the price of oil down; hence, to keep oil profits stable the dollar must raise.

Possible future – Oil tied to a basket of currencies other than the dollar.

If the dollar is removed from its direct connection to the commodity oil, how is the dollar affected then?

One could expect the same relationships as before, but now for the basket of currencies, when they become tied to oil, with some exceptions. Whereas the dollar’s strength/weakness can be affected by something other than oil, each currency in the basket can also. However, the basket, or diversification of currencies, will be designed to average out -- in other words, to remain stable and about the same. Thus, the Basket-to-Oil relationship should be more stable and keep oil prices more consistent. How about the reverse relationship, i.e., Oil-to-Basket? An unstable Oil inventory will now affect the Basket of currencies like it did the dollar. But, instead of impacting a single dollar currency, say 10%, each of the currencies in the basket will only be affected by 10%/number of currencies in basket. Very simplified example and not specifically accurate in that each is an equal share. But, it demonstrates the point that no single currency in the basket will be affected like a single dollar was and the economies dependent on those currencies won’t be affected as much.

OK. Assume the dollar is now outside the relationship. However, we will need to buy oil in one of the currencies in the basket. How does the dollar-to-euro look (or one of the other currencies)? Are we weaker or stronger than the Euro? If our dollar is no longer pegged to oil, that for years has been an unstable commodity that weakened our dollar, will our dollar become stronger? Good question? I personally believe our dollar will become more stable. Our stability should then become more accepted by world countries wanting to invest in America. Would that not boost our economy? So, I say go ahead and peg oil to a basket of currencies.

I suppose I need to check out a detailed economics book detailing the dollar to commodity relationships and the dollars importance in the world before drawing any final conclusions. What do you think about a new oil-to-basket of currencies scenario? Am I way off target? Just trying to use my Common Scents.

66. Roar Lions Roar

Roar Lions Roar -- 35-10 victory over Illinois

Nothing better than watching Penn State in High Definition. This morning I installed my RCA Yagi antenna to pull off-air digital. Finally, I get the major local network channels plus about 5-6 more (all but 2 are Spanish, Si) channels. I was delighted to get 100% signal and crystal clear picture with it installed in my attic. This also allows me to record 3 stations at a time now.

65. Mr. President

Don't believe that winning is really everything. It's more important to stand for something. If you don't stand for something, what do you win?
Author: Lane Kirkland

64. Where R the Steelers?

My tail is between my legs in shame. Where are the Steelers? I don't know why I haven't converted to a Cowboy's fan yet. Why am I hung up on Ben and crew? They aren't like the old days with Franco Harris, Jack Ham, and Lydell Mitchell. But they do need an immaculate reception to turn them around. They face the Chargers on Sunday. Redemption!

If I am lucky, my outside antenna may make it to the local Walmart store on Saturday. Need it to get off-air HD for the local channels -- yes, even this town is too itty-bitty for DISH to push it's satellite high definition here.

Ok. I'll acknowledge the 3-0 Broncos. Don't need to remind me. Enjoy the NFL games. Raise one for me.

Winning isn't everything, but losing is nothing.
Author: Red Symons

63. Dangerous Foreign Policy

A positive move by Obama: This article reports a face-to-face discussion with General McChrystal. I have no problem with taking a week or two to collect the details and to derive alternatives and a strategy to handle the terrorists in the Mideast. Afghanistan is just one locale that rises to the top at the moment along with Pakistan. Yes, Afghanistan will require the same strategy as IRAQ, i.e., control it militarily while training the Afghans. Thus, 5-10 years of our assistance. Meanwhile, Pakistan anti-terrorist strikes need to be stepped up too. So, given my little knowledge of the details, I would lean toward more troops in Afghanistan in hot spots to reinforce our needy troops already there -- we owe it to our troops to add more protection and muscle. I would also beef up drone activity in Pakistan.

Well, that only leaves Iran and North Korea. What a plate of dirt to eat and digest. You should know where I stand on Iran by now: they continue to create excuses and activities in order allow them (and Russia and China) to continue nuclear weapon plans. I truly think Iran is just a cover for Russia and China in extending their nuclear range and weapons -- and yes, Venezuela could be in that pact too along with other Chavez backers. Hope I am wrong on this one. However, we will never know the classified facts. I never had to worry too much about them in the past. But, under this administration, my eyes and ears are wide open. How about yours?

62. The Clunker Economy

As expected, US auto sales in August went up because of the Cash for Clunkers program. And, as expected, the US auto sales were a disaster in September. So, what long term benefit did we taxpayers get for our money? Nothing. If it hadn't been for Ford which was NOT bailed out, it would have been a total nightmare. Government Motors came in with biggest drop in comparison to last year's sales. Might as well through money out of a helicopter over the ocean!

And don't you like how many jobs are being CREATED by the stimulus packages! "Jobs losses this month totaled 263,000, worse than even the most pessimistic economist projection" reported here

Also, as expected, the government tried to dress up the numbers by saying more jobs would have been lost. What's to make me believe this isn't yet another lie? We've been hearing this one all year.

But I am glad to hear we don't have to foot the Olympics in Chicago. Seems that the Olympic host cities have been LOSING money on the events. Besides, do I really want to see Obama's team get richer because of their conflict-of-interest in real estate in the Chicago area? I'm already appalled by the second 727 that made the trip to fight for Chicago 2016 -- more money thrown out over the ocean. YOUR money!

61. Bottom and Bounce?

Did we bottom at the DJIA low of 9324 today? Did we start the recovery bounce when we went to high of 9524 in late afternoon? I stand with my prediction that it will take a drop to 9325 before a real recovery to 10000+ happens. Monday and Tuesday will tell the tale. So, my advice is buy early Monday and don't wait for the absolute low -- with the unpredictability of the market, you might miss the advance entirely.

60. Medicare Advantage (s) Dream

http://news.yahoo.com/s/ap/20091002/ap_on_re_us/us_medicare_seniors explains some of the debate over how the new Health Care legislation might impact seniors. Let me net it out with accompanying opinions:
1. Those on Medicare Advantage, i.e., private plans subsidized by government to provide at a minimum the equivalent of Medicare, will lose subsidies. Those on Advantage usually get added benefits that I personally would love, such as, Health Care memberships, dental, hearing aids, etc. So, bottom line, if the subsidies cease, so will the benefits or the premiums will rise or both. NOT GOOD for my future plans.
2. The article suggests that the following are benefits (but they are NOT) of the "new" Medicare:

• Free preventive services, e.g., 100% coverage of certain exams like mammograms and annual wellness exam. Today these will cost you 20% unless you have a Medigap policy which I sure will have. With a Medigap policy, it will cost me nothing. Thus, NOT A BENEFIT.
• They want to delay scheduled decreases in doctor fees and provide them bonuses also. WHY are doctor fees even scheduled to decrease? I read about the bonuses elsewhere. Essentially, they will pay the doctor to use cheaper procedures than available. Thus, they might decide to look an a XRAY and venture a guess rather than ordering an MRI. NOT A BENEFIT.
• They want to penalize hospitals when a patient is readmitted for same problem. Like they have a call in whether a patient gets readmitted. NOT A BENEFIT.
• Better coordinate all the doctors on your case. I have not seen this as a problem at all and have managed the health of Medicate patients in the past.NOT A BENEFIT.
• Fill the prescription drug gap by providing a 50% discounts within the gap. Go to Walmart and use generic drugs and AVOID the gap entirely! NOT A BENEFIT.

The Dems claim that the Advantage plan is costing the government 14% more per patient than under Medicare. I would venture to guess that they are using the billions of fraud dollars in their calculation. How about eliminating the fraud and reducing everybody's premiums?

What lame arguments this article has in convincing the seniors that the $500 billion the government wants to take out of Medicare will provide them with something better. DREAM ON!

59. "Culture of Corruption" by Michelle Malkin

Dear Ms. Malkin,
I can't read any more! My blood pressure must be off the charts. I did get through the whole book, but had to just skim parts because the gory, but true, details (75 PAGES of footnotes) were more than I could handle. I get it! I did before. I REALLY get it now! Anybody with Common Sense would have gotten it BEFORE too. I believe I read somewhere in your book that it's my public service to get some of the starry-eyed Obama people who were dazzled by his rhetoric to read this. You forget that they were INDOCTRINATED, not educated by the political process. They are all mostly "Me Me" people who want to recreate history instead of learning from it. As with the economy, they are clueless to see the big picture and can only focus on an individual or topic at one time. America is in jeopardy; freedom is in jeopardy. I can only BEG they pick up your book and at least skim it to see the BIG PICTURE. Thank you for alerting us.

"It pains me to say this, but I may be getting too mature for details."
- Jerry Seinfeld in The Deal
Sincerely,
Sam, the Common Scents dog

58. Health Care Mess

My comments to: http://news.yahoo.com/s/ap/20091002/ap_on_go_co/us_health_care_overhaul

Please tell me how my Health Care insurance premiums will NOT increase if we continue pushing a plan with these in it:
1. No insurer can deny coverage.
2. No insurer can charge those with preexisting conditions a higher premium (means, all others will have to cover the added risk and expenses = higher premiums for everyone except for those with preexisting conditions)
3. Federal subsidies for those who cannot afford coverage (they are planning to fund the states with subsidies and let them negotiate plans for these people (fine, unless they end up in same administered plans as me which would mean I must pick up the difference from subsidized amount and premium we all pay). And how much will you STATE TAXES go up to cover the administration costs of this negotiation?
4. Costs would be borne by Health Care providers (who, of course will pass it along to us via higher premiums)
5. Costs also paid by billions of dollar cuts to Medicare and Medicaid (can you hear me without that hearing aid?)
6. Still being discussed is making it more difficult to itemize Health Care costs on taxes (what does this mean? Instead of paying taxes to support the new reformed plan we can deduct less? Sounds like a tax to me if this is the case. Of course, the Dems provided no details or answers to this question)

The statement by the Democrats that premiums will not increase MUST BE A LIE!

A good amendment from Cantwell is to implement a program like the state of Washington has where the state negotiates a plan (they have 4) for low income people with income above Medicaid requirements -- up to $44,100 for family of four. Sounds good, but I would ask if these plans are separate from plans most of us would get so our premiums wouldn't go up and the added State taxes to do this.

The MUST BUY or get PENALIZED section remains in the Finance Committee plan. Currently, if a plan exists that costs less than 10% of an individual's (family's) income, then they must buy insurance or pay a penalty up to $1900 per family. Schumer want to lower this to 8% and delay penalties until 2014 with a max of $950 per family. How they are ever going to determine this on an ongoing basis is beyond my beliefs. I suppose they will go to last year's tax form, if you even submitted one, to check. And what if you didn't? Or if you had an anomaly year where you took all your gains because the Bush tax cuts allowed you to not pay any tax on gains or dividends if you are in the15% tax bracket or below and their definition of income will include this -- wow, that would rape a few people.Sometimes I wish I could rattle their heads to see how empty they really are! But, there may be help. Also being considered are EXEMPTIONS to buying insurance that could apply to MILLIONS (let's see now -- current 47M uninsured people = illegals, those on Medicaid, and others. From the others category, we now subtract a millions more of "exemptions" leaving how many? We are going to spend $900 Billion over 10 year for how many new people and at what increased premium?

To end, let me reemphasize the one-liner in the article that states that this Finance Committee legislation needs to be merged with the one from HELP (Health, Education, Labor and Pensions Committee. The latter HAS the PUBLIC OPTION in it (that has already been defeated in two votes!). Harry Reid is pushing this in the Senate, while Pelozi demands that it be in.

Then, finally, President Obama, needs to live up to his promise that he will not sign legislation that adds a dime to the deficit. I am sure the definition of deficit will change radically (as he has already changed America) to allow him to pass if without LYING AGAIN.

So, here's my forecast:
1. Expect higher premiums than you see today (explained above)
2. Expect longer waits for physician and hospital services (taxes on Health Care providers coupled with more insured people calling on them and fewer and fewer physicians going into or remaining in the system)
3. Hello Elderly -- there's no hope for you (losing services and increasing costs). btw: who do you think will be also shelling out more money to Medicare and Medicaid? Of course, this won't be called a rise in INCOME taxes!
4. The first 3 don't apply if they just stop the nonsense and use Common Sense and fix the current system as I explained in previous blogs.

57. The Lion Roars This Saturday

I'm already excited. Penn State vs. Illinois this Saturday at 3:30 EDT. I bet Joe Pa had the team working overtime this week after they gotten blown out last Saturday by Iowa. The offensive line has been particularly weak and it appeared it shook up Daryll Clark mentally in last game. He was just not himself -- lost his composure. The Iowa loss may be what the Lions needed to uncover their weaknesses. That's why I can't understand why they play "high school" teams the first three games -- what are you going to learn about yourself? Hopefully Sean Lee will back on the field too. The other linebackers did OK, but Sean is two for the price of one out there. So, Nittany Lion fans, get your blue and white out, check your grill, load the fridge, get the snacks ready and enjoy the game. GO STATE!

56. Ready to Bounce?

My beach ball has had a leak and is almost deflated completely. That means only one thing: tomorrow is the day Master refills it. Coincidentally, the stock market correlates pretty nicely with my ball. My guess is that Master will drag himself out of bed late tomorrow, do his 1.75 mile swim, eat lunch, then pump some life back into my ball. That means you market-oriented people should be waiting for the bounce off a DJIA 9300-9325 tomorrow morning. pack your shorts away, and get into some longs. I expect to see some light at the end of the tunnel by the close -- perfect for shopping. Good luck.