“The only difference between death and taxes is that death doesn’t get worse every time Congress meets.” ~ Will Rogers~
By Catherine Austin Fitts
This week’s Solari Report is about the obstacles that the US Congress face in legislating a fair and economic health care system.
Among other things, health care is on a stock market merry-go-round. Health care expenses go up, fueled by government subsidy and regulation, and then health care company profits go up. Health care companies buy media ads. Their investors enjoy capital gains and make political contributions. With lots of political contributions, politicians support more regulations, appropriations and federal credit to continue the merry-go-round.
At the end of Q1 2017, the top 25 pharmaceutical and biotech companies had a stock market capitalization approaching $3 trillion. What would happen if they were subject to pure market forces?
The end of the debt growth model will force an evaluation of the intersection of government programs with the stock market. Health care is only one of many areas where incomes statements and balance sheets have been artificially ballooned by government intervention and the rich flow of political contributions from satisfied investors.
As pension funds get cut and people go with out heath care or go homeless, using taxpayers money to fund rigged deals and rich profits for insiders and investors is going to be subject to a new form of scrutiny.
Things are not as they seem – whether in the federal budget or the stock market. Meantime, check out the dive that Russian equities took on a new round of sanctions and the strength in the fixed income markets despite the Fed bump this week.
Here are the Friday charts:Set One, Set Two, Set Three, Set Four
