Ripped From The Headlines, October 4, 2023
McCarthy Feels The Heat, Home Insurance Out Of Control, The Hard Truth About The Economy - Read, Share, & Subscribe - SherlocExposes.com
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Click Here to read the full article.
“Speaker Kevin McCarthy was voted out of the job Tuesday in an extraordinary showdown — a first in U.S. history, forced by a contingent of hard-right conservatives and throwing the House and its Republican leadership into chaos.
It’s the end of the political line for McCarthy, who has said repeatedly that he never gives up, but found himself with almost no options remaining. Neither the right-flank Republicans who engineered his ouster nor the Democrats who piled on seem open to negotiating.
McCarthy told lawmakers in the evening he would not run again for speaker, putting the gavel up for grabs. Next steps are highly uncertain with no obvious successor to lead the House Republican majority. Action is halted in the House until next week, when Republicans try to elect a new speaker.
‘I may have lost this vote today, but as I walk out of this chamber I feel fortunate to have served,’ McCarthy said at a press conference at the Capitol, alternating between upbeat assessment of his speakership and angry score-settling of those who ousted him.”
THINGS TO PONDER:
In recent weeks, it seemed like it would be impossible for something like this to happen…
Surprise!
While Republicans and conservatives joust about whether or not this was a good idea, the fact remains that a move like this sends a statement:
If you don’t do what you say you’ll do, there are consequences.
Kevin McCarthy just found that out in the most public way possible…
Interestingly enough, it seems like the saying “you mess with the bull, you get the horns” holds true, as McCarthy spent a bunch of money (including cash from Sam Bankman-Fried) to stop America First candidates in the primaries:
(Click Here to read the full article.)
Oops.
You mess with the bull, you get the horns.
Click Here to read the full article.
“Robert Dubie was paying around $1,100 a year to insure his Paradise, Calif., home before it burned down in a wildfire five years ago. He rebuilt it with a host of fire protections, but it costs 10 times as much to insure.
He couldn’t get a policy that covers fires, so he turned to California’s insurer of last resort for fire insurance. The cost for that policy is more than $9,600 a year. He pays around $1,200 a year for a policy to cover other risks.
‘The insurance is more than my mortgage,’ Dubie said. ‘The cost is astronomical and the coverage is not as good as it used to be.’ He said he and his wife will struggle to keep their home.
Hundreds of thousands of people nationally are signing up with state insurers of last resort as home insurers pull back from disaster-prone areas.
More than 30 states have some form of last-resort plan for people who can’t get coverage elsewhere. Plans can be statewide or restricted to coastal regions. Coverage varies between states, ranging from all-perils policies to those that cover wind, hail or fire only.
The plans were designed to be temporary safety nets. As the private market shrinks, however, the plans are becoming insurers of first, not last, resort in some high-risk areas. In Florida, the Citizens Property Insurance last-resort plan is the biggest home insurer in the state with 1.4 million policies.’
‘These plans were really only supposed to be a ‘break glass in emergency’ type of a product,’ said Douglas Heller, director of insurance at the Consumer Federation of America. ‘Now that the insurance industry is walking away from communities, we’d better have a much more robust and healthy public backstop.’
‘This is such an obvious slow motion train wreck,’ said Rex Frazier, president of the Personal Insurance Federation of California, an industry body.”
THINGS TO PONDER:
The issue that’s been bubbling under the surface has now exploded from the ground into the air.
Much like the discussions about the economy, you know something is wrong, but you keep hearing “Everything is OK!”
Until you look at your insurance bill… if you even get one…
Because even though you just replaced your roof 3 years ago, since your house is over 15 years old you need to replace it again…
Or no insurance.
We’re not making that up… that’s actually been happening in the State of Florida, with Ripped From The Headlines hearing dozens of stories that sound exactly like that one.
The question now is: “What now?”
The bigger question though is what do the insurance companies know that we don’t?
Brace For Impact.
Click Here to read the full article.
“Two weeks ago, Nobel Prize-winning economist Paul Krugman told CNN anchor Christiane Amanpour there is a peculiar disconnect between how the economy is doing and how the public is feeling about it.
Amanpour pressed him on why people weren’t understanding that they are living in a “sunny economy.”
He had asserted that “the economy’s rebound has been surreally good,” yet people keep saying it is terrible.
Krugman pointed to surveys and even some people’s behavior, noting robust discretionary spending on travel with hotels and restaurants, and was perplexed as to why people, as if all people were traveling, thought there was a problem.
‘We don’t really understand why this is happening ... (but) there is a real profound disconnect going on,’ Krugman said.
A few days earlier, ‘The View’ co-host Joy Behar was strident in her assertion that everything was fine for all in our economy:
‘The economy is booming, inflation is down, the stock market is doing well, people are having an easier time putting bread on the table, etc. (Biden) doesn’t seem to be getting the credit for that.’
She then asked if people think because Biden is old that the economy is bad.
Huh?
People think the economy is bad because they are paying, at least here in western Pennsylvania, $3.99 a gallon for gas, and in places such as Arizona, where the state now ranks seventh among the nation’s highest-paying markets at $4.69; last week alone it climbed 14 cents a gallon. In Nevada, it jumped a whopping 33 cents a gallon, with California coming in at a 29-cents-a-gallon jump.
THINGS TO PONDER:
One has to wonder: Are people like Joy Behar and Paul Krugman really that disconnected, or are they doing exactly what they’re told to do?
Based on our research, it’s the latter.
As we’ve said before: If things are so good, why are so many people struggling?
Here’s a look at where people actually are at on the subject of the US Economy over the last month, courtesy of version 2.0 of our market research technology, ParAible:
Everything to the left was trending two months ago and mattered to people.
Everything to the right has been trending over the last month and matters to people now.
Does that look like everything is fine to you?
Your interests and those of Krugman and Behar don’t align.
Know Your Foe.
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Here are handy references from Ripped From The Headlines to help you follow along with this episode:
Click Here to learn more about the US Debt Clock and the out-of-control debt-to-GDP ratio in the US.
Click Here to see the “Sherloc Death List” of businesses.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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