It was quite an eventful week; in fact, it would have made Walt Disney very proud. Keep in mind, when Walt created Disneyland he separated the park into different categories such as Adventureland, Frontierland, and of course, Fantasyland.
It seems as though we’ve recently had a sampling of all of these “categories,” but most especially, Fantasyland.
With the Supreme Court’s blessing, Obamacare now becomes the law of the land.
As a result, I will now get answers to my many rhetorical questions that I started asking when Nancy Pelosi said: “The only way to know what’s in it, is by passing it.”
For example, how do understaffed medical departments deal with the sudden surge of millions of new patients?
Answer: they don’t.
What is the cost of insuring someone within months of death?
Answer: very expensive. How long will it take for someone to get x-rays done when the mass no longer needs to use the emergency room for primary care?
Answer: a long time. Since the government is providing additional money to the insurance companies, which other pocket is it coming from? Or, is the money just being printed?
Answer: your guess is as good as mine. How many bureaucrats will be added to monitor whether or not people buy insurance?
Answer: a lot. Who pays for that?
Answer: We do.
I could go on and on, but I think you get the point. A noble effort has gone awry, especially when major cost controls will be left to an unelected panel of people. Will this new system work? Of course not, it will be fraught with corruption.
Even on paper, matching the current system with the new consumers does not add up. Yet, for a brief moment this new system will provide a wonderful sense of enchantment, much like Fantasyland, until harsh reality sets in.
The same can be said about the recent European Union meeting announcement. Many of the same words were used when they announced “Greece is saved.” Those words included “cooperation,” “backstop,” “firewall,” and “central control.”
Once again, my rhetorical questions will be answered sooner rather than later. Such as, how can the countries needing the most help be expected to make significant contributions to the pot?
Answer: they can’t. How can Germany be counted on to write the check for the majority of costs?
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at email@example.com and on Twitter @tatroshow.