Obamacare, amnesty, Ferguson flaps worry Friday markets
WASHINGTON, November 21, 2014 – Emperor Barack I laid down his Open Borders Edict last night in a speech that seems to have been televised only on abjectly subservient New York City TV channels and a few other local channels elsewhere. All 4 networks had declined to broadcast His Imperial Highness live. Not that the nation’s stupid voters care
El Magnifico heads for Las Vegas today to flamboyantly put his unconstitutional edict into formal effect. Its future is unknown. What is known is that it has a big potential to roil the stock market in the days, weeks and months ahead.
This growing threat to national stability—the Emperor’s way of sticking it in the eye of the stupid American voters that threw his Royal Senate Minions out en masse on November 4—simply piles on the pre-Christmas misery as we head toward the holiday our National Hooligan would likely want to re-name out of religious “fairness.”
Existing misery includes the election-delayed second edition of Obamacare coverage and premiums, a one-act playlet in which stupid voters discover that while some (not nearly all) of their premiums may either be stable or lower, their out-of-pocket deductibles will soar. Too bad for those stupid voters.
It’s another clever delayed-reaction trick brought to you by the Administration’s faithful Fools Liars. Most insureds will only discover this trick when they open their bill for lab work or a procedure and discover that they owe most of the bill until and unless they meet their new, stratospheric 2015 deductibles. The weeping and gnashing of teeth will add to the overall misery index. Surprise! Take that, stupid voters!
If you don’t believe the Maven on this, how about a couple of grafs from a CNBC report on the same issue:
Customers signed up in the most popular kinds of Obamacare plans for 2015 won’t see big increases in how much they have to pay in out-of-pocket health costs compared to this year, a new analysis finds.
But those individual and family plan customers still are responsible for significantly higher deductibles than people who get health coverage through their jobs, according to the HealthPocket study released Thursday. That said, an increasing number of job-based plans are offering high-deductible options.
The often-steep Obamacare deductibles, which are on top of monthly premiums that customers have to pay to have insurance, can come as a surprise to enrollees, said Kev Coleman, head of research and data for HealthPocket.
As the Open Borders/Amnesty and Obamacare Ripoff stories dribble out—and they will dribble, as the MSM still doesn’t want to report them very much—a more immediate social and market concern will be the looming attempt to utterly destroy the hapless St. Louis suburb of Ferguson.
Rumors have been running all week that the Grand Jury results in the Brown case will be released, but so far they haven’t been. When they’re over, the Big Party will start, with the Communists, the Anarchists, and their pals, the far left black militants will attempt to trash the town and garner headlines for their anger which is scheduled to erupt when the nation discovers that the Gentle Giant really was a ticking time-bomb of violence. There is some word that whatever happens here could spread to other cities. We’ll soon learn the results. And the reactions. And the counter reactions. None of which will make investors feel very secure. But then, investors are stupid voters just like the rest of those stupid voters so who cares?
That outcome doesn’t follow The Narrative, of course, so we’ll likely be treated to an attempt to revive the 1968 riots that destroyed a good bit of the urban core of many big American cities.
Again, all this hovers over the market, which is why today’s big rally keeps wanting to pull back. Every time the buyers step in, sellers try to take advantage of better prices and get out. It’s what happens when you know your Emperor’s people are likely to keep setting brushfires just when you’re starting to feel secure. Which, at this point, only stupid voters will.
What a shambles this country has become. We’ll start seeing these Big Three stories and other events intrude on the stock market’s current, weak, low volume melt up. We are concerned from both an investment standpoint and a personal concern viewpoint. We are still pretty fully invested, yet ready to pull the plug at a moment’s notice. The potential for headline risk here has never been greater. Neither has the Federal government’s contempt for the average citizen. Bad karma is looming here.
No trading tips today, although do note that oil is trying to stage a comeback this afternoon. But we’ll need to see more next week before we hop back on that train.
Have a good, and hopefully warm weekend.