HHS secretary asks insurer to justify rate hike

Re: HHS secretary asks insurer to justify rate hike

PostBy: samhill On: Wed Feb 10, 2010 9:32 am

Well cabin over lets put it this way, your in debt & you have made more bad decisions than good, your mothers in a nursing home that you have to contribute to you can`t get to your job without a car which isn`t paid for & you owe more than its worth. Perhaps you have a sick spouse or child that needs medical care & wih no ins. your paying there, theres a rumor of overtime coming up which will help so you try & hang on. Then your taxes come in higher, utilities higher, car ins. higher, the bank wants you out of your house because your behind. You have a very well off parent or relative thats willing to lend you money. Do you borrow or deny a loved one or something else.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: cabinover On: Wed Feb 10, 2010 11:31 am

The analogy has a few problems. First off the well off relative is not as well off as everyone thought apparently.

Second, you and I can and will work to pay this money back. The government never produces anything, not work, not money, nothing. So they keep spending knowing that you and I have no choice but to pay this back.

Sorry Sam, I just don't see where spending more money is getting us anywhere.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: samhill On: Wed Feb 10, 2010 11:51 am

Where would we be if this Gov. just says well sorry but we ran out of money & being Gov. they will take what they can for themselves, no more Gov. services. The men & women fighting for us will be told they are on their own, it happened with the Russian troops in Germany they were selling off their equipment to be able to pay their way home. No more helping out states which would go down in nano seconds, no police no nothing your on your own. How long before we are invaded. How many this day & age would answer the call to arms if there was anyone to even give one. Think about it.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: SMITTY On: Wed Feb 10, 2010 1:42 pm

samhill wrote:How many this day & age would answer the call to arms if there was anyone to even give one.

More than you think ... :yes: I think you'd be surprised. :rambo:
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Re: HHS secretary asks insurer to justify rate hike

PostBy: coaledsweat On: Wed Feb 10, 2010 1:46 pm

samhill wrote:How long before we are invaded.

We already have been.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: jpete On: Wed Feb 10, 2010 9:51 pm

samhill wrote:I`ll agree that spending like a drunken sailor isn`t the right thing to do but there was a lot of debt from the get go with more coming the worse has yet to come IMO, with all the unemployment & people not be able to pay taxes the Gov. is in really deep do do billions more going out everyday than coming in. Where else does the money come from if its not there?


I'm not trying to be sarcastic, because it's a bit of a secret so to speak, but do you know where money comes from?
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Re: HHS secretary asks insurer to justify rate hike

PostBy: samhill On: Wed Feb 10, 2010 10:10 pm

They print a lot of paper. Cloth actually.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: jpete On: Wed Feb 10, 2010 11:20 pm

samhill wrote:They print a lot of paper. Cloth actually.


Ones and zeros actually.

But seriously, most people don't have any idea that $30 billion in Treasury's are sold, a couple times a week. I'm just wondering if you can explain the process to me.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: samhill On: Thu Feb 11, 2010 9:30 am

Apprently you know the process so why don`t you enlighten everyone, the selling of treasury notes or bonds or whatever you want to call them has been going on for decades. I have never been in the position to bid on yet alone buy one.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: Black_And_Blue On: Thu Feb 11, 2010 7:20 pm

samhill wrote:Apprently you know the process so why don`t you enlighten everyone, the selling of treasury notes or bonds or whatever you want to call them has been going on for decades. I have never been in the position to bid on yet alone buy one.


1.5 Trillion of new issuances, of which, the Federal Reserve purchased 80% of it.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: jpete On: Thu Feb 11, 2010 9:31 pm

samhill wrote:Apprently you know the process so why don`t you enlighten everyone, the selling of treasury notes or bonds or whatever you want to call them has been going on for decades. I have never been in the position to bid on yet alone buy one.


You're the one saying to just spend, spend, spend!

You should know where your plan gets us before you advocate for it.

As long as you have a few suckers to buy your debt, and you actually produce enough wealth to continue to foster faith in your ability to pay, then countries and other entities will buy the T bills.

But as has been pointed out, the Fed has been buying most of our debt lately.

Let me try to illustrate how insane that is.

Imagine you go to a bank and want to buy a car. They'll give you the loan if you have some collateral. Some money to put down a on it first. You tell them you don't have any money so the bank loans you the money to use as collateral to get the car loan.

Or you can look at it like those 80/20 mortgages that they were handing out a few years ago.

The government sells treasury notes and has to pay interest on them. The more demand there is for them, the lower the interest rate they pay.

Lately, the demand has been so low, we would be forced to pay an unacceptably high interest rate.

When we do sell them, we take them to the Fed and use them as collateral for the really big loan.

But due to the demand situation, we really don't want to sell too many, which means we can't take nice big loans from the Fed. So to "help" us out, the Fed has been buying a large portion of the treasuries to simulate demand and keep the interest low.

This does two things, it increases the amount of money we owe to the Fed because we owe interest on the treasury sale, and we owe on the loan we took after the sale.

And it also chases away legitimate buyers because they know they are getting screwed on the interest rate and they take their money and go buy something else.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: jeromemsn On: Sat Feb 13, 2010 12:40 am

Individual insurance rates soar in 4 states


http://finance.yahoo.com/news/Individual-insurance-rates-apf-389747253.html?x=0
This link is broken, either the page no longer exists or there is some other issue like a typo.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: Kevin H On: Tue Feb 16, 2010 8:35 pm

With all this sudden concern about deficit spending, is it safe to say we're all Clinton fans? He's the only one who balanced the d@mn budget since Carter.
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Re: HHS secretary asks insurer to justify rate hike

PostBy: Black_And_Blue On: Tue Feb 16, 2010 10:02 pm

Kevin H wrote:With all this sudden concern about deficit spending, is it safe to say we're all Clinton fans? He's the only one who balanced the d@mn budget since Carter.


Yeah it was so great back then, we were only $5,674,178,209,866 Trillion in the RED

http://www.usdebtclock.org/
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Re: HHS secretary asks insurer to justify rate hike

PostBy: jeromemsn On: Thu Feb 18, 2010 9:51 am

Ahh more good news about the cost of insurance.


http://finance.yahoo.com/news/HHS-warns-of-doubledigit-apf-3594065027.html?x=0
This link is broken, either the page no longer exists or there is some other issue like a typo.
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