Fed’s Tarullo details plans to counter bank runs

Berlin, Bankenkrach, Andrang bei der SparkasseFrom CNBC.com:

Global regulators need more policy tools to counter the risk of devastating bank runs and should have powers over a wide array of market participants, U.S. Federal Reserve Governor Dan Tarullo said on Friday.

“There is a need to supplement prudential bank regulation with a third set of policy options in the form of regulatory tools that can be applied on a market-wide basis,” Tarullo said at a conference on shadow banking.

I can see the statement formulating in your brain even as I write.

And that is this: why would such a regulation be needed unless there were a serious chance of bank runs globally?

Further: why might there be global bank runs?

Answer: because it is recognized that the American economy will crash sooner than most believe, and the waves created by that will affect the economies of every country on the planet.

Plans are being made, ladies and gentlemen, by the banking industry, to keep you from your money when that crash occurs.

Not if, when.

BZ

 

 

Ted Cruz on ObamaKare & Immigration:

Yes, given; this is a lengthy video and most of you won’t play it in full.  Still I post it.

But if you want to see what an actual concerned politician looks like in public, then click on the red button below:

Please listen to this, ladies and gentlemen, because the devil IS in the details.  This bill will create an enormous incentive to hire those here illegally, and a penalty for hiring US citizens.

BZ

 

 

“Doctors dump health insurance plans, charge patients less” — the coming look for medicine?

ObamaKare LogoFrom Breitbart.com:

WICHITA, Kan., June 14 (UPI) —
A Kansas physician says he makes the same income and offers better quality care to his patients after he dumped all health insurance companies.

Thirty-two-year old family physician Doug Nunamaker of Wichita, Kan., said after five years of dealing with the red tape of health insurance companies and the high overhead for the staff he hired just to deal with paperwork, he switched to a system of charging his patients a monthly fee plus the price of an office visit or test, CNN/Money reported.

For example, under Nunamaker’s membership plan — also known as “concierge” medicine or “direct primary care” practices — each patient pays a flat monthly fee to have unlimited access to the doctors and any medical service they can provide in the practice, such as stitches or an EKG.

We all know that the cost of healthcare is going to skyrocket under Mr Obama’s dutiful and loving ObakaKare in 2014.  It’s doing so already.  The cost of healthcare in Fornicalia may increase up to 146%.  See article here.

ObamaKare is also causing businesses to shed employees so that they stay under the minimum employee coverage cap of 50, or to cut hours to less than 30 per week.

The Roberts Supreme Court cleared the way for ObamaKare by ruling that its mandate is a tax and not a penalty.

That all said, there is going to be much pain under ObamaKare, for me and you and the American Taxpayer.  There will be little pain, of course, for those lampreys who simply want a continuation of their Free Cheese, to include illegal Mexicans and other illegal and parasitic invaders.

Free Cheese Parasite & TaxpayerFirst, there will be pain.  Much pain, as illustrated above.  This introductory period will be a very bad time for the average American Taxpayer to get sick or injured.

Slowly but surely, however, things will come around.  Nature abhors a vacuum and the sucking sound created by ObamaKare will produce a void that will be filled by American ingenuity, both lawful and “unlawful” — though I consider ObamaKare and the complete government takeover of American medicine in and of itself unlawful.

First, “concierge” programs like the one above will increase.

There may also be cash-only programs offered solely to the wealthiest of us, with exclusive doctors catering to individuals on the highest of orders.

We may also go back to something of a bartering system.

But this vacuum will be filled, ladies and gentlemen; the “get-around” is only beginning to ferment.

In the meantime, this from Breitbart.com:

U.S. producing ‘abysmally low’ number of primary care doctors

WASHINGTON, June 15 (UPI) —
Despite a shortage of U.S. primary care doctors, less than 25 percent of new doctors go into this field, and fewer still work in rural areas, researchers say.

Lead study author Dr. Candice Chen, an assistant research professor of the George Washington University School of Public Health and Health Services, said the study also found only 4.8 percent of the new primary care physicians set up shop in rural areas.

Currently, the United States is producing primary care physicians at rates that are “abysmally low,” Chen said.

Ladies and gentlemen, the doctor-to-patient ratio in the United States is already execrable.  Under ObakaKare with millions more persons to be poured into the equation, and senior doctors retiring at an unprecedented rate because they don’t wish to be involved in more bureaucracy (as the current bureaucracy is stealing their soul), the only possibly immediate result is in fact rationing of services.

As most everyone — at least on the Left Coast — realizes, good luck in even being able to communicate in English with your doctor or nurse.

BZ

 

 

Senate passes internet sales tax bill amid opposition from conservatives

Obama, You didn't earn thatFrom the UK Guardian:

Bill to overturn 1992 court decision has support of Obama, Amazon and Walmart – but its future in the House is uncertain

The US Senate on Monday passed a bill aimed at ending tax-free shopping on the internet but the move looks set to face fierce opposition before it becomes law.

The Marketplace Fairness Act, which has cross-party supporter and the backing of powerful retailers, would give states the power to require retailers with sales over $1m to collect state and local sales taxes for online purchases.

The bill has the support of president Barack Obama the majority of senators including Republican John McCain but Marco Rubio, seen a potential Republican presidential hopeful, and Rand Paul both voted against the bill.

The bill passed the Senate by 70 votes to 24 but faces a second test in the House of Representatives where internet retailers and conservatives are already lobbying against the tax. House leaders have yet to schedule hearings or votes on their version of the measure.

The legislation would overturn a 1992 supreme court ruling that said a state could not force a retailer to collect sales tax unless the retailer had a physical presence in the state.

Can you imagine being a retailer, following an actual passage of this bill, and having to comply with the separate tax codes of every state and every region?

Because, after all, if you’re a business owner, you simply didn’t build it.  Everyone but you built your business.

The following Republicans voted yea on the internet tax: Sessions & Shelby (AL), McCain (AZ), Chambliss & Isakson (GA), Crapo & Risch (ID), Coats (IN), Grassley (IA), Collins (ME), Cochran & Wicker (MS), Blunt (MO), Fischer & Johanns (NE), Hoeven (ND), Portman (OH), Thune (SD), Alexander & Corker (TN), Enzi (WY).

The following Republicans voted nay: Flake (AZ), Rubio (FL), Kirk (IL), Roberts (KS), McConnell & Paul (KY), Vitter (LA), Heller (NV), Ayotte (NH), Coburn & Inhofe (OK), Toomey (PA), Cruz (TX), Hatch & Lee (UT), Johnson (WI), and Barrasso (WY).

Remember them.

BZ

P.S.
An excellent article, “Why Barack Obama hates small business” is here.

 

 

Mikulski’s ‘Paycheck Fairness Act’ Would Allow Employees to Discuss Salaries

Socialist AmericaThe Private sector just took one more step towards Socialism and the “much hated” Public sector.

LANHAM, Md. (CBSDC)– A ‘Paycheck Fairness Act’ introduced in Congress last week would require employers to show pay disparity is related to job-performance and prohibit employer retaliation for sharing salary information with coworkers.

Senator Barbara A. Mikulski and Congresswoman Rosa DeLauro, both Democrats, said their legislation is aimed at closing the pay gap between men and women and would also address loopholes in the 1963 Equal Pay Act.

The phrase in the private sector, “you are what you negotiate,” would soon go away in Maryland.  And an employer having the ability to pay a worker who was much more productive than another worker across gender and sexual lines would also go away — meaning the ability to reward productivity, creativity and incentive would also disappear.

Which is, of course, what “fairness” is all about.  Because if you dislike the Public sector for its efficiency, you’ll soon enjoy said efficiency in the Private world.

Another way of dumbing and numbing down the America you used to recognize.

BZ