No Sanctions Will Hurt Russia More Than People Imposing Them

Jim Rogers on the Voice Of Russia

There is no reason for Russia to worry about the western sanctions it is facing now over the Ukrainian issue since Moscow has too many other trade partners to work with, Jim Rogers, financial analyst and co-founder of the Quantum Fund, said in an interview with the VoR.

Could China’s decision to purchase superjet planes be viewed as a gesture of support following a series of sanctions imposed by the West against Moscow over the Ukrainian issue?

Of course it is. I’m an American, so I hate to say this, but America is shooting itself in a foot getting the most of our world to pushing China and Russia closer together. And you are going to see more and more trade between the two. And that makes the sanctions against Russia almost impossible, because there are other people who will not play.

And are there chances for the Russia Sukhoi Superjet planes to compete with other major plane-makers?

I don’t think that the Russians have enough to compete with Boeing planes yet. But you are certainly getting better. I mean, as far as cargo planes, you are probably better than anybody else. And if people are forcing you or forcing other people to buy from you, then, of course, your costs will go down, your quality will get better and it will only benefit Russia, but not benefit Europe or America.

I think that’s one reason Europe and America are a little hesitant to do too much about the sanctions, because they know that they may lose more than they will gain.

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Visa Admits Russia Sanctions Hitting Business.

Visa, the world’s largest card services company, says its revenue growth slowed to a four-year low, as cross-border operations with Russia were hit by the political tension over Ukraine.

"We are caught between the politics of the United States and the politics of Russia,"Reuters quotes Byron Pollitt, Visa’s Chief Financial Officer."We’re clearly seeing a drop-off in cross-border volume, and sanctions are expected to have some impact on volume."
For the first time in more than four years Visa’s quarterly revenue growth declined to single digit percentages amid a strengthening dollar. In the second quarter ended March 31 it was 7 percent, down from 11 percent in the first quarter. The company projects revenue growth to slow further this quarter.

In March Visa and another US-based payment system MasterCard suspended services to two Russian banks after President Barack Obama imposed sanctions on Russia.

President Vladimir Putin said Russia would develop its own payment system, which should start operating in about 6 months. More >>>

Report: Premiums rising faster than the last eight years before Obamacare COMBINED

Health insurance premiums have risen more after Obamacare than the average premium increases over the eight years before it became law, according to the private health exchange eHealthInsurance.
The individual market for health insurance has seen premiums rise by 39 percent since February 2013, eHealth reports. Without a subsidy, the average individual premium is now $274 a month. Families have been hit even harder with an average increase of 56 percent over the same period — average premiums are now $663 per family, over $426 last year.
Between 2005 and 2013, average premiums for individual plans increased 37 percent and average family premiums were upped 31 percent. So they have risen faster under Obamacare than in the previous eight years.
An important caveat is that eHealth’s prices don’t include subsidies, so the prices for anyone earning between 100 and 400 percent of the federal poverty level will be lower. The Department of Health and Human Services (HHS) has repeatedly claimed patients will pay as little as $18 per month, without noting the taxpayer cost.
Premiums are being hiked across the board for several reasons, but the biggest contributor is the Obama administration’s highly touted “essential health benefits,” services that insurers on and off exchanges must provide.
Some benefits, such as emergency and laboratory services, are uncontroversial. But others, like maternity, newborn and pediatric services, are causing headaches for huge swaths of the population that don’t need them. Anyone past childbearing age, single men, the infertile, even nuns — their premiums are rising as well, because their plans must, by law, provide more services.
But premiums aren’t the only key to health care costs — deductibles and out-of-pocket costs like co-pays are also rising. When it comes to employer health plans alone, four out of five U.S. companies have increased deductibles or are considering doing so.
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Insurers Expect Premium Prices to Soar under Obamacare

Was'nt the average family to experience a $2,500 decrease in premiums under Obamacare?

Insurers on Obamacare: Expect Premium Prices to Soar
Health insurance premiums will likely skyrocket next year, despite the Obama administration’s consistent assurance that consumers will not experience sticker shock under the president’s health care law.
That’s according to industry insiders who told The Hill that they are expecting the price of monthly premiums to increase significantly. In some states, rates could increase by as much as 300 percent.
Related: Obamacare Sticker Shock Found in Deductibles, Not Premiums
“There is extensive concern about rate increases next year,” said Avalere Health’s Vice President Caroline Pearson. “Particularly since early exchange enrollment is skewed toward older enrollees, some are concerned that plans will need to raise prices in 2015.”
Rates won’t be announced until the fall, however, and Pearson cautioned that it’s still too early to know what they are likely to be since the enrollment period for this year is still ongoing.
The industry’s concerns of rising premiums are largely out of step with Health and Human Services Secretary Kathleen Sebelius’s comments at a congressional hearing last week, where the secretary downplayed any potential sticker shock.
“The increases are far less significant than what they were prior to the Affordable Care Act,” Sebelius said in testimony before the House Ways and Means Committee.
Related: Consumers Hit With Surprise Tax in Obamacare Premium
But insurers say a combination of Obamacare’s new taxes and fees, as well as rule changes and delays announced to cope with the rocky rollout, will likely contribute to higher than expected rates.
For instance, the administration’s decision to allow people to keep their old policies likely means that fewer people than anticipated are enrolling on the new exchanges.
This is bad news for the Obama administration, which has routinely pointed out that premiums on the exchanges are less expensive than comparable employer-based policies. While premiums may be cheaper, out of pocket costs on exchange plans tend to be higher. A survey by HealthPocket.com found the deductibles on the exchange plans were 42 percent higher than employer based policies. But now, insurers say Obamacare consumers can expect to experience sticker shock from both premiums and deductibles.
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Cruz: Holder Should be Impeached if No Action on IRS Scandal

Friday, 11 Apr 2014 01:08 PM

By Melanie Batley

Sen. Ted Cruz said Congress should impeach Attorney General Eric Holder if he does not seek indictments for people such as former senior IRS official Lois Lerner for their roles in the agency targeting scandal.

In an appearance Thursday on conservative talk show host Sean Hannity's radio show, the Texas Republican and possible 2016 presidential contender, said Holder should be impeached for "defying Congress and the rule of law," Breitbart reported.

Cruz said Holder's actions were not in keeping with the policies of the Justice Department, which has "a bipartisan tradition of resisting partisan pressure and upholding the rule of law."

He cited examples of previous attorneys general, such as Janet Reno and Elliot Richardson, as models for how the department should be run.

Cruz described Holder as "the most partisan attorney general the country has ever had," Breitbart reported.


Cruz also said he was "very pleased" that Lerner was held in contempt by the House Oversight Committee, but criticized the Obama administration for not moving to indict one person eight months after the inspector general concluded that the IRS had wrongfully targeted conservative groups for heightened scrutiny.

Cruz also took aim at President Barack Obama for appointing a Democrat, who was a fundraiser for his presidential campaign, to lead the IRS investigation, saying it would be akin to John Mitchell investigating Richard Nixon, according to Breitbart.  More >>