No rate hike YET

For those of you following interest rates:
" The Federal Reserve on Wednesday kept interest rates unchanged but strongly signaled a rate hike was likely before the end of the year." http://blogs.marketwatch.com/capitolreport/2016/09/21/live-blog-and-video-of-the-fed-decision-and-janet-yellen-press-conference-2/

Data will never be perfectly suited for a rate hike. They just want to wait until after election.

2 Likes

I think they want to wait and wait and wait. Maybe 1/4 point in December.

Right. I see a December rate hike is fully baked in at this point, unless of course if President Trump scared the world into recession then we are back to square 1.

1 Like

For people wondering what a President Trump would look like, just look at the Philippines. The new guy is totally nucking futs. His idea of war on drug is gunning down random people suspected of trading drugs. Courts? What’s dat? His bright idea of diplomacy is swearing at Obama and threatening to leave UN. Latest episode: waging middle finger at the EU.

Bad!

Yep. But his main opponent? She’s just logical, rational and…kind hearted?

1 Like

People over react. We have 3 branches of government. Our president can’t do much unilaterally. Congress will remain mostly gridlocked and ineffective. I do wonder how many cities we will let rioters destroy before we get tough on them.

We are destined for decades of low growth now anyway. Federal, state, and local governments are sucking $6.4T a year in taxes out of the economy. Even if you adjust for inflation, the tax burden per person is over 4x what it was in the 1950’s. Median individual income is $32k, and our govnements need $20k a person to run deficits. The math of that isn’t remotely close to working.

1 Like

Correct. Trump, by creating internal disputes, is helping democrats (Hillary+House of Reps+Senator). With such mess, digging his own party into grave, Dem may get clear majority across the 3 branches !

Who knows, it may happen!

Obama had that his first two years. We got Obamacare from it. They didn’t address minimum wage, family leave, or any of the other topics they claim to care so much about.

Obamacare is awesome. I own my own business because of it, to some degree. So you can say it encourages entrepreneurship at least. I can’t understand why people are so upset about it. I :heart: it.

1 Like

We spend more money creating websites, regulating, and enforcing it than we do on helping people have healthcare. We could have done the whole think for a fraction of the cost by saying anyone without healthcare can get medicaid.

Yes, one of our family member got own medical insurance with Obamacare too. Otherwise, no one would have given such medical insurance.

I can’t understand why people are so upset about it ==> mostly opposed by party line.

Insurer must provide assistance when it is really needy, they can not deny insurance benefit when claimed !

2 Likes

That’s the single payer option. Yup, I’d love that one better too. But alas, it’s considered “socialist” by the Republicans. Even Obamacare, which is essentially the same as the plan originally proposed by Republicans in the 90s and implemented by Romney in MA was attacked senselessly by the right to this day.

Obamacare is less good than Single Payer, I agree, Hillary agrees and Bernie agrees. :slight_smile: But it’s also politically impossible. :frowning:

It will help people quitting their J O B job and start their own businesses. Why should medical insurance tie in to work? That makes no sense at all.

1 Like

Both parties wanted to pass pre-existing condition clause where people cannot be denied because of them.

I don’t think people realize what single-payer is in most countries. We have unparalleled access to care. The issue is Americans are so unhealthy that we consume massive amounts of care. We consume 75-80% of the prescription drugs in the world. We’re also consuming 75% of the pain drugs. That’s driving the cost of healthcare through the roof. Single-payer counties don’t have the addiction to prescription meds that we do.

Statistically, medicare and medicaid decline a higher percentage of claims that private insurance does. Think about that before you advocate for US single-payer. They won’t just automatically cover everything. For 2013, the claims denial rates were:

Aetna: 1.5%
Cigna: 0.5%
United: 1.2%
Medicare: 4.9%

That or just look at the VA system which is government run.

I don’t think most people realize how insurers works. They must payout 70% of revenue in claims. So they can only increase premiums, if they payout more claims. As long as they can pass on premium increases, then it’s to their benefit to payout more claims. Their profit comes from how much of the 30% they can squeeze out. Since most people get insurance through their employer and don’t know the true cost, it’s not too difficult for them to keep raising premiums faster than inflation.

Oh Canada:

"The first segment occurs from referral by a general practitioner to consultation with a specialist. The waiting time in this segment is 8.5 weeks this year, roughly the same as in 2014. This wait time is 130% longer than in 1993, when it was 3.7 weeks. The shortest waits for specialist consultations are in Saskatchewan (6.7 weeks) while the longest occur in Prince Edward Island (28.3 weeks).

The second segment occurs from the consultation with a specialist to the point at which the patient receives treatment. The waiting time in this segment is roughly the same as last year, 9.8 weeks. This wait time is 76% longer than in 1993 when it was 5.6 weeks, and almost three weeks longer than what physicians consider to be clinically “reasonable”. The shortest specialist-to-treatment waits are found in Saskatchewan (6.9 weeks), while the longest are in Newfoundland & Labrador (20.5 weeks)."

So it’s 18.3 weeks to get treatment plus however long it takes to get the primary care appointment. It could easily take 6 months to get treatment from a specialist.