Americans are either celebrating or damning the Supreme Court’s 5-4 ruling that the individual mandate is constitutional.
–SNIP– If America wants to overturn current legal norms America needs to elect different politicians. But with a greater and greater welfare-bound population, it seems inevitable that more and more Americans will vote themselves greater and greater quantities of free stuff.
Yet there is a bigger point to all of this, and it’s nothing to do with broccoli.
If Congress can constitutionally create a mandate for individuals to purchase healthcare, then Congress can create a mandate for individuals to purchase financial securities. Which — given the fiscal cliff that we are about to run off, and the reality that more and more sovereigns are dumping dollars and treasuries — could well be a useful weapon in keeping the Treasury’s borrowing costs low and the bread and circuses flowing.
Read more by John Aziz at azizonomics.com
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