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Deja Vu all over again



September 26, 2013 – Comments (13) | RELATED TICKERS: ES , TS

The Great Recession knocked the heck out of my portfolio.  I blame many people for that, not just one political party.  But I finally was getting my portfolio back in shape when here comes House Republicans playing a game of "chicken" with the debt ceiling in 2011. And so the market corrected hard to almost  bearish 20%.  Thank you House Republicans you cost me money.  Now I have my portfolio in good shape again and here come those House Republicans trying to pull the same stunt.

I have sworn never to vote Republican again, and I am the guy that supposedly fits their demographics. I want them to get crushed come 2014 elections.  I am tired of hearing the same old songs every year. 

Guess what, the sequester was a big win.  Because there is no way Tea Party will compromise, the forced 10% cut for 10 years was a great idea in my opinion.  I think they say the budget will turn surplus in 4 years.  Great.  

So stop with the games.  Start talking corporate tax reform to start helping on the fiscal side.  And while we are at it can we at least see if Obamacare will actually work?  I hear how so many hate it but I doubt those people actually understand it.  Some arguments I am hearing is just smoke.  The biggest one is how employers are only hiring part time employees because of Obamacare.  Wrong. I ran businesses.  Labor is the biggest expense. I much prefered 2 part timers to 1 full timer because I actually paid less for more hours.  Obamacare is the not cause. Good old fashion cost cutting is.

And I looked at some exchange plans.  They cost half of what I pay for now.  My plan is better so I will keep it, but I suspect those exchange plans are better than what many employers gave. Also now businesses can actually cap their exposure by simply giving a voucher to employees and send them to the exchanges.

The people I can understand would hate it are the 1% who have pay more taxes.

13 Comments – Post Your Own

#1) On September 26, 2013 at 8:27 PM, constructive (99.97) wrote:

"The Great Recession knocked the heck out of my portfolio.  I blame many people for that, not just one political party."

I realize it feels better to spread the blame around, but there's only one person who has any control over what's in your portfolio.

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#2) On September 26, 2013 at 11:59 PM, awallejr (36.09) wrote:

Perhaps but when the market drops 800 points in a day I dunno. If it wasn't for Uncle Ben I suspect things would have been even worse.  Afterall I bought C at $1 and it then went to .97 until Uncle Ben said he wasn't going to let the banks fail.

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#3) On September 27, 2013 at 12:18 AM, awallejr (36.09) wrote:

Bah I made the wrong response.  I wasn't referring to my portfolio choice since it is irrelevant to what caused the Great Recession.  I was referring to what CAUSED the Great Recession and its ultimate impact on my portfolio choices.

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#4) On September 27, 2013 at 8:57 AM, drgroup (67.83) wrote:

I hope you weren't foolish enough to sell on the dip and were wise enough to buy more positions of your best performers.

By the way, there are two parties and a n incompetent president in this game. Not just one. I say let 'em shut the gov't down. If it is shut down it will be the reid and Obama  that let it happen, not the Republicans.

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#5) On September 27, 2013 at 10:31 AM, Schmacko (91.72) wrote:

@ #4) The last time the government shutdown it was with a democratic president and a republican congress and the republicans took the heat.  Most talking heads seem to think the same is likely to happen this time, if a shutdown occurs.

The old guard Repubs seem to think this as well.  The tea party does not.

Asking a vacating president to defund his signature piece of legislation is widely considered to be a completly ludicrous concept.

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#6) On September 27, 2013 at 6:34 PM, awallejr (36.09) wrote:

I don't know if I would call what happened in 2008/2009 as a "dip."  No money left to buy with.  I pretty much wrote it off in my mind.  I stop listening to others, hunkered down with what I had left over and concentrated on beat up yield plays. I also started selling puts in earnest, especially in C and BAC. 

But I am just tired of going down this road once again.  It is idiotic and irresponsible.  Of course The President isn't going to defund ACA after all the work it took creating it.  It is asinine to think it could ever happen.  I am also tired of people saying how bad it is without giving specifics.  Because as I said before it actually might work.  First time ever my insurance company didn't up my premium, guessing in fear of competition from the exchanges.

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#7) On September 28, 2013 at 8:36 AM, drgroup (67.83) wrote:

"Of course The President isn't going to defund ACA after all the work it took creating it.  It is asinine to think it could ever happen."

You hit the nail on the head. To think that this tyrannical president would consider what the majority of all voters want; repeal obamacare. You are lost in an illusion if you think this dictate will work. Just ask those who have been the product of downsizing because their company can't afford the new mandates or ask those who are now forced to work 30 hr weeks in order to be reclassified as part time and are not being covered any more. Less hours and more mandated spending for them to buy aca on their own. What about the death panels, gross bureaucratic inefficiencies to name only a few. Oh yeah, it will work because your premium hasn't gone up....yet.

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#8) On September 28, 2013 at 10:50 AM, awallejr (36.09) wrote:

That isn't true.  That is the con.  Companies that provided health coverage can send employees to the exchanges for a LOT less than it cost them, like IBM.  Companies are downsizing for other reasons.  As I said companies are downsizing because of good old fashion cost cutting because of a tepid economy.  The only argument I could understand is by the rich who now have to pay more taxes.

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#9) On September 29, 2013 at 12:00 PM, awallejr (36.09) wrote:

Read an article on Bloomberg mobile where Walmart is planning on adding 55,000 seasonal workers, but more interestingly, was promoting 35,000 part time workers to FULL time status and 35,000 temporary workers to part time status.

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#10) On September 30, 2013 at 9:03 AM, drgroup (67.83) wrote:

Awall.... I would love to see this aca mandate be beneficial to the American people. Just the fact that the gov can mandate laws that tell you to buy a product or be fined is tyranny. If this obama gov were concerned about you being able to afford healthcare, what's to stop them from being concerned about your auto/homeowners insurance or what ever they can scheme up. What really happens here is we have been forced to relinquish 1/6th of the economy to the control of corrupt, inefficient gov bueracrats. Good luck....

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#11) On September 30, 2013 at 9:21 AM, awallejr (36.09) wrote:

Well since you mentioned it we are forced to have car insurance.  So now it is extended to health insurance.  But I am trying to figure out the pros and cons of it, not from a rhetoric point of view but economic.  Cruz keeps shouting how ACA does not work but the problem with that is it really hasn't even begun!

Here are the benefits I see so far:

1)  Greater competition amongst insurance companies which should lead and so far has led to cheaper premiums.

2)  Large companies especially who self insured employee's health insurance can now lower their costs by just sending employees to the exchanges.

3)  Employees will have a wide choice of coverage options.

4)  Kids can stay covered under their parents insurance to age 26.

5)  No more pre-existing condition exceptions.

I do see a problem for that company at 49 employees wanting to expand to 50.  That move alone would cost the company probably around 1.5 million more annually.

But what is taking place now in Congress is insanity.  Basically the House Republicans are blackmailing the President into repealing the law or they will throw this country back into recession.  The CR and debt ceiling have NOTHING to do with the ACA.  So basically the House is holding this Country hostage.  And that is something I won't forget at the voting booth 2014.

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#12) On September 30, 2013 at 1:42 PM, drgroup (67.83) wrote:

The repubs are asking to defer implantation of aca for one year. They have repeatedly and emphatically stated that they do not want a gov shutdown. It is harry reid and his cohorts in the senate that are blackmailing this country, with his steadfast position on complete passage of aca.

I am with you on the 2014 voting. It will be last days for many repubs and dems alike...

#1&3: many insurance companies are pulling out of states, leaving only a limited selection.

#4: this is wrong

#5: I hope you are correct and this sticks. All of us if you older than 12 can have "preexisting conditions".


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#13) On September 30, 2013 at 5:44 PM, awallejr (36.09) wrote:

Well unclear with respect to #1 & #3 since I think it is State by State dependent, meaning some States created an exchange others haven't.

#4 is absolutely correct and has already been in effect.

Believe me I am not a rah rah guy regarding the ACA.  It is simply too complicated and the only way to find out how well it will play out is to let it play out and make reform where needed.

The problem is the House Republicans no longer believe in compromise.  Listen to Boehner.  He uses the term "common ground."  Common ground is NOT compromise.  In effect they changed the "game."  This Country was built on compromise.  Reagan and Clinton worked things out with opposing parties through  compromise. 

But now that has become a dirty word for House Republicans.  And that's the problem.  Impasse and a willingness by House Republicans to once again stick it to the innocent bystanders like they did with the debt ceiling in 2011 and causing a steep market selloff.

They are so going to do the same thing again with the debt ceiling.  If they do I hope President Obama uses The 14th Amendment Section 4 and let the Courts decide because no party should be using the debt ceiling as a bargaining chip to compel the other side to do something.

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