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Scanning The Headlines

16 September 2010 4 Comments

Interesting headlines that I think give weight to the idea that we’re absolutely in a depression – a belief that I firmly believe.  First headline: Highest Poverty Rate Since 1994.  Love this one… FedEx profit doubles, but plans to layoff 1700 people.  More evidence of corporations increasing profits by cost cutting (labor) and/or generating profits from overseas business.  This is indeed a negative headline despite the boost in profit.  Here is potentially the most disturbing… Democrat Congressmen Waxman and Weiner have scheduled a hearing on gold.  These clowns want to investigate companies like Goldline that might be selling gold for higher than its worth.  How about we disclose how much a quarter is worth with regards to its melt-down value?  The war on gold is just beginning guys.  This will intensify as gold remains one of the few things that can’t entirely be manipulated by politicians.  As the war on gold escalates, so will its price.  $1300 is close.

4 Comments »

  • Stephan said:

    dont ignore the headlines that unemployment claims are at a 2 month low, consumer spending beat expectations in august, and that the poverty rate is actually less than was expected as well. i think the most depressing statistic that came out was the number of people without health insurance. while i dont think obamacare is the solution, it definitely points to the fact that employer based health care is not the way to go. its not good policy for americans to lose their health insurance when they are unemployed, because thats when they need it the most.

  • 20smoney said:

    Both government sponsored and employer sponsored are bad solutions. People need to pay out of pocket for regular expenses coupled with a high deductible catastrophic cheap insurance plan. People would then stop going to the ER for a cough when they have to come out of pocket.

  • wingtipwalker said:

    "its not good policy for americans to lose their health insurance when they are unemployed, because thats when they need it the most. "

    Why is that? Are people sicker when they're unemployed? And last time I checked, under existing "Cobra" laws you can keep your insurance when you leave a job. Could a bigger problem be that people don't save enough money to support themselves in the situation where they lose a job?

    When I was unemployed for about 6 months a couple of years ago, I took out a high deductible "catastrophic" health plan. It was cheap and all I needed as I am generally healthy and an accident or surprise terrible diagnosis was the only real health risks I had. Note: I did not say "woe is me" and wait for the government to rescue me. I changed my lifestyle dramatically while I looked for a new job.

  • Alex said:

    "Why is that? Are people sicker when they're unemployed?"
    No, obviously it's because thats when your least financially able to pay for a catastrophic event, the whole point of insurance. Even with insurance a catastrophic event can be very expensive. One of the reasons the top cause of bankruptcy in America is medical emergencies. Expenses can run into the 10's or 100's of thousands of dollars, something that isn't really reasonable for most people to have set aside.