Posted on 08/13/2009 1:33:23 AM PDT by Yosemitest
48% of 7-Yr Fed Notes were bought back after a few days recently. That’s a whirlpool if ever there was one.
Let me make sure I'm following. The federales essentially recalled 48% of an offering in the open market for lack of interest(no pun intended)? THAT is scary if true.
Oh I totally understand that almost everything the Federal Government does is Unconstitutional. I have been on it for twenty years. I am watching as a lot of people go through the same shock I did twenty years ago when I was made aware. I must say it is encouraging. As for medicare hey it is here. I think the government should get out of all healthcare and maybe provide a superfund that insurance companys or individuals could tap for catastrophic bills over a certain amount..Say 50 or 100 thousand a year. Insurance companies could sell low cost policies for small claims and Docs could be given tax credits to treat the poor. But the government should not be allowed to put any strings on the funding. Not perfect but it might avoid total bankruptcy for awhile.
I would like to see some conservative braniacs that don't mind being called names develop a plan for the federales to gradually extricate themselves, and US from this black hole. There has GOT to be a better way and someone, somewhere has the brain power to figure it out. I'm not one of 'em...
With my plan you could theoretically raise the level of stop-loss on the fund until it was no longer needed. At least the free market could get a foothold and charities. Also the tax credit system for covering the poor would get started.
How's about the federales write a check to every person in the country over 40 the equivalent of, say, two years average medical/doctors/meds costs. Then tell everybody they're on their own. If nothing else it would be fun to watch. How many new vehicles and big screen teevees would go flying off the lots and out the doors???
Thee and me, AuntB!
Here’s a link to various articles on the Fed’s ‘after buy’ of 7-Yr notes:
http://wallstreetblips.dailyradar.com/story/7_year_the_fed_buys_last_weeks_treasury_notes_aug_6/
(Link to Denninger’s articled at this link, too, on inherent monetization going on)
Yes, I agree that Medicare violates the 10th Amendment.
Your link and the links to related articles are a MUST READ for anybody attempting to keep up with the federale's knife juggling act. However, this is not sitting down at the kitchen table to balance the checkbook, and not easily followed by most, including myself. And even though most of the financial pundits agree there is some slight-of-hand at the fed and treasury, there's not complete agreement on that even.
Simply amazing stuff though!
Well, I don’t mind the pings. I just don’t have anything
good to add. I am only seeing gloom and doom today!
Oddly enough I'm seeing signs of an awakening people that may just barely have enough time to stop the train wreck, but history will be the judge of that.
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