house passes health care-PM Prices

KUCH

We're one step closer to a national health care bill costing over $1 trillion. New taxes will fund this bill. Dec. 31,2010 Bush's tax cuts expire. Unemployment still rising. For commotities to continue up the charts, we've got to have demand. I was waiting for the world wide demand for PM's. Was waiting for Joe six pack to buy silver. Continued taxation will inhibit Joe six pack and middle class from buying PM's.

Am I over reacting?

gsa1fan

I feel most that will buy or have bought have their eyes on PM's.

Weather they buy more or start to will depend on the rise in prices and the stock market.

Most people that are interested have a difficult time with retaining wealth aspect.

A shocking rise in PM prices along with a BIG drop in stocks. Will bring them on board.

Then again most J6P's have little invested in anything beside keeping a roof over the family's head.

Upper middle class is where the $$ will come from. JMO~Peace, Tim

Longshot

I believe precious metals will be pressured to rise as long as real interest rates (interest on deposits minus real inflation rate) remains low. This will be the case until the fed jacks interest rates up over 10%.

mhammerman

It seems obvious that this administration has no problem with increasing the national debt until it reaches our gdp. The curious part of this binge is that the increases are of a social and financial nature eg. healthcare and bank/auto bailouts, do overs as it were at the expense of those 50% of the population that are going to be paying taxes at the end of the year. Employment is still entrenched in the minus column by large numbers so the problem is that we have increasing national debt v.s. GDP in an environment of decreasing employment when fewer are contributing to the GDP. It looked like the big O was going to go the way of the FHA, WPA, CCC, and improve the country infrastructure and keep everyone employed at the same time but such isn't the case. The new think is that we just give them the money...

Decreased employment is a result of the current business strategy to get lean and then get leaner with the mantra...faster, better, cheaper. With this strategy, those that can embrace the 21st century captalist mentality will survive and those that can't will be sent to the dust bin. This quantum leap in business efficiency is having considerable impact at the cube dweller level. Common practice now is for surviving employees to write grants, go to seminars, work an increasing number of software applications...good Windows Office skill is the most basic of cube skills and that will only get you in the door. Employee conduct is getting better, pay at the top is getting better, worker bee wages are stable or increasing as additional tasks and responsibilities are added to a decreasing number of positions...faster, better, cheaper.

So, it looks like we are on the cusp of a considerable rise in employee efficiency and productivity as fewer people are doing more and getting paid well enough for the new work place skill set. All this in a time of decreasing employeer provided benefits; less health insurance, no 401k match or minimal, but more pretax deduction programs for medical, transportation, and the like that were previously paid by the employeer. Resultingly, the gov is picking up part of the tab by letting the workers slip out from under the tax burden while those in the upper lofts are gonna be bleeding for a long time...they have been targeted, taxed, and will be increasingly responsible for their role in spreading the wealth around. Those that aren't in the mix, that don't have good office skills, not good; better head to the community college or learn to wear gloves.

So, healthcare and pm (OP) well, one balances the other. Most folk won't be buying gold because they don't understand the concept of preserving wealth, it's more of a me, here, now kind of mentality. Gold is different, it's simply a preservation of wealth and it is meant mostly for those that actually have a portfolio and understand the idea of diversification. Those folk that are in the loop watch their wealth preservation and certainly snap to the news of their gold being worth more and this is good, maybe a little more gold in the old portfolio might do some good, hummmmm, maybe I'll get a little more. For those that accumulate, you win and maybe you can use your pm for your health care instead of spending it on that bucket list...darn.

jmski52

We're one step closer to a national health care bill costing over $1 trillion.

That was only the number they used for the promo. If you think that $1.2 Trillion is the actual number, then I have a bridge to sell you.

New taxes will fund this bill. Dec. 31,2010 Bush's tax cuts expire.

There is also such a thing as retroactive taxes. My bet is that they will try to go that route when it becomes obvious that the economy isn't generating revenue, and that they can't squeeze enough out of the $1,000,000+ income bracket.

do overs as it were at the expense of those 50% of the population that are going to be paying taxes at the end of the year. Employment is still entrenched in the minus column by large numbers so the problem is that we have increasing national debt/GDP in an environment of decreasing employment when fewer are contributing to the GDP

This is pernicious and self-perpetuating. And until big changes come to DC, it will get worse for people who "work", and not so bad for people who "sign up for benefits" and climb into buses for the next political rally.

OP - It's hard to say whether or not anything having to do with health care will cause any movement in precious metal pricing. There are so many cross-currents affecting the economy that health care legislation is only one more nail in the coffin of free enterprise.

How that affects precious metals - is to make them more and more necessary as a means of getting away from the bogus system of finance that ensnares most people in the U.S. If the dollar goes to $0.01, then gold might crash to $10.00/oz. and it will still maintain it's relative value to the dollar. If the dollar goes to $0.50 and gold goes to $2,000, then gold has quadrupled in relative terms.

Either way, I see gold as a good way to try and sidestep that freight train coming straight down the tracks towards our financial, social, and economic systems.

TrustNo1

wait until they can figure out a way to put a special tax on PM's and nickel and dime us some more. The bad times have only just begun.

ProofCollection

We're in the midst of difficult times and high unemployment, and what does the government want to do? They want to make the business climate even more hostile and difficult. What a great way to reduce unemployment and encourage investment and spending!

MoneyLA

I have heard a lot of talk about the cost of health care, and the new health care plan, but I am yet to see any SPECIFICS.

If someone has a link to an official government index that lists the DETAILS of the bill, please post it here.

I dont want to read anything from any politico. I'd like to see something from Congress, such as from the congressional budget office or some non partisan organization... and I dont mean AARP either.

all Ive been hearing on the news is the same mumbo jumbo key phrases over and over again, and Im getting kind of sick of it. Frankly, I dont have a clue as to whats in the bill or what its impact will be. NOT A CLUE. But I have heard plenty of "allegations."

Wolf359

<< <i>I have heard a lot of talk about the cost of health care, and the new health care plan, but I am yet to see any SPECIFICS.

If someone has a link to an official government index that lists the DETAILS of the bill, please post it here.

I dont want to read anything from any politico. I'd like to see something from Congress, such as from the congressional budget office or some non partisan organization... and I dont mean AARP either.

all Ive been hearing on the news is the same mumbo jumbo key phrases over and over again, and Im getting kind of sick of it. Frankly, I dont have a clue as to whats in the bill or what its impact will be. NOT A CLUE. But I have heard plenty of "allegations." >>



2.5% tax. Pay it or go to Jail for 5 years. That's all you need to know.

gsa1fan

2.5% or 25%???

TrustNo1

a few supposed facts from the WSJ ....actual bill wasnt posted b4 vote....how anyone can vote for something that they are clueless on, is beyond logic WSJ I think this is the most recent but not sure HR3200

coynclecter

They didnt let us know whats in it. BUt I will tell you. It goes like this.

"We will take control of Health Care and will appoint government administrators to fill in the rest later."

jmski52

2,000 pages of legalise written by a bunch of congressional staffers who are trying to stake out a name for themselves as the next Hillary Clinton without any oversight or public review - I can't think of a better way to overrun the system and to make it impossible to debate the issues.

TrustNo1

<< <i>2,000 pages of legalise written by a bunch of congressional staffers who are trying to stake out a name for themselves as the next Hillary Clinton without any oversight or public review - I can't think of a better way to overrun the system and to make it impossible to debate the issues. >>

and make us pay through the nose to do it...God help small biz!

KUCH

Here is data gathered today on the House Health Bill. Data gathered from newspaper, Policy Brief (House Republican Conference.

The Pelosi Healthcare Bill is HR3962.

The Republican Conference has complied a list of 111 new boards, bureaucracies, commissions, and programs that may be formed because of this legislation.

Requires nearly everyone to obtain health insurance.

Provides federal financial help for lower and middle income consumers so they can obtain coverage.

Expands Medicaid coverage to more people.

Imposes s 5.4% surcharge on adjusted gross incomes of more than $500,000 individuals and $1M for joint fillers.

Imposes penalties on people and businesses who fail to comply with law.

MOST IMPORTANTLY, Public healthcare will destroy one of the best healthcare industies in the world. Look at Canada.