In a 2009 article, the Huffington Post went into considerable detail about the number of people with PhD degrees in economics employed by the Board of Governors of the Federal Reserve System. This is the government’s branch of the Federal Reserve. It is not one of the 12 regional Federal Reserve banks, all of which […]
John Foust, a Democrat running for the 10th congressional seat in Northern Virginia, is — like Gov. Terry McAuliffe and other state Democrats — gung-ho to expand Medicaid. His wife’s position is, shall we say, a bit more nuanced.Foust has slammed his opponent, Republican Del. Barbara Comstock, for her opposition to expansion. He has spoken […]
Although the mainstream media have turned its attention away from the wreckage of Obamacare, don’t think for a second that all is well.As the politicos in D.C. focus their attention on the midterm elections in November, now is a great time to study, prepare, and seek out the most affordable, accessible, and highest quality options […]
Health care costs in the U.S. have been rising so steadily for so long that containment barely seems possible. Even optimists don’t dream of cutting the price tag. As its official name — the Patient Protection and Affordable Care Act — suggests, Obamacare aims for affordability, not radical reduction.But at a time when we’re all […]
One issue I have with our modern lifestyle – of many — is the emphasis on perfection. Newer, slimmer, bigger, better, faster: the message of perfection screams out to us from glossy magazines, slick television ads and popup ad after popup ad. (Or purrs, cajoles, teases, and smothers.)While I do believe fundamentally in pursuing whatever your […]
Franklin Delano Roosevelt famously used the term “forgotten man” in a 1932 speech to describe those at the bottom of the economic pyramid who, he felt, government should aid.But the originator of the phrase “forgotten man” had a whole different meaning in mind. He aimed to expose the seeming good intentions of government to reveal […]
In September 2009, when President Obama made a primetime speech pitching his not-yet-passed health care overhaul, he made the following promise: “I will not sign a plan that adds one dime to our deficits — either now or in the future. Period.” To prove his seriousness, he further promised that “there will be a provision […]
What’s the #1 reason a start-up fails?It runs out of money!And why would it run out of money?Because nobody wants the product it’s selling!For early-stage investors, this presents a bit of a conundrum:If a product doesn’t exist yet, how do you figure out if there’s demand for it?And how do you figure it out before […]
Biotech breakthroughs and other transformative innovations are a few of the brightly shining spots in the U.S. economy. In fact, Paul Mampilly believes this is the golden age of biotech investing, and that you can earn massive returns while investing in companies with drugs that benefit all of humanity. Read on for his latest example...
Obama recently claimed this was the “Decade of the Brain”. But it not the first time the government made that promise. The last time they did it, they wasted millions of your tax dollars. Now they’re back for round two. But this time, their failure could mean more than squandered money. It could mean making Alzheimer’s even worse for those who suffer from it.
Why Is U.S. Health Care So Much More Expensive?After years of research and many conversations with health policy experts, I see three key culprits of expensive health care in the U.S.In no particular order, they are the third-party payer system (i.e., employer-provided health care), malpractice suits, and administrative support costs/paperwork.The unintended consequence of institutionalized employer-provided […]
Back in the 1980s, John Nestor became infamous for single-handedly causing massive traffic jams on the Capital Beltway. But in his professional life, he created a completely different kind of traffic jam... one that may have contributed to the deaths of thousands of innocent people. Juan Enriquez has the full story. Read on...
The Food and Drug Administration will tell you they’re there to protect you. To make sure the food and medicine you put in your body won’t hurt you. But good intentions and actual results rarely match up. Instead, the FDA’s drug certification process has made it easy for business to corner drug markets, and jack up prices. In the end, the only thing the FDA protects are these companies’ profits.
Given the insane amount of time, effort and money it costs to bring a drug to market, it's no wonder why drugs are so expensive in America. And even when a drug comes along that IS cost effective, you can count on the FDA to play its part in jacking up the price. Mark Thornton explains...
Generic drugs are supposed to lower healthcare costs and provide you with another medical alternative. That’s what it says on paper. But there’s a real danger that goes along with these drugs. A danger even your doctor might not be aware of.
Too many people think that long-term care planning is just a decision about whether to purchase long-term care insurance. However, long-term care planning is so much more. It is a discussion about how you will fund this expense, where you will receive long-term care, and who will provide the care.
Politicians talk about the uninsured. Special interests argue on behalf of those with pre-existing conditions. But why is no one wondering how doctors are affected by the new law? They’re the ones on the frontlines dealing directly with new patients, as well as the red tape that makes bureaucracies go round.
Just because you’re retired doesn’t mean you have to stop working. Especially now that you have all the time in the world to do what you really want. Entrepreneurs don’t only come out of Silicon Valley. They come from all walks of life, from all different ages. If you’re retired and want to stay active while you relax, then find out the steps you need to take in order to start, manage, and grow your next small business.
The U.S. dollar has been the world's reserve currency for almost a century, and already there are signs it may be in decline. But that doesn't mean it's not still valuable. On the contrary... As Chris Mayer explains, there are many reasons the U.S. dollar will remain relevant on the world stage for years to come. Read on...
The Congressional Budget Office said the government needed to reach 7 million people by the end of March. They claim to have reached the goal and now the debate about Obamacare is over. But what does this milestone really mean in the ongoing healthcare discussion? And more importantly, how will it affect reforms going forward?
In an effort to cut costs and keep track of patients' records, governments could institute a medical guideline cookbook. Bureaucrats might think they have the best of intentions in mind, but these new rules would drag down the medical process and destroy whatever quality is left in our current system.
When government expansion is allowed to continue unabated or when it casts a heavy regulatory shadow on America’s entrepreneurial spirit, the freedoms that we’ve come to know, and perhaps take for granted, slowly begin to slip away.
The new reality of Obamacare’s tax credits has left finance reporters to pen articles warning readers to “take care” when considering a tax credit and providing strategies for how best to “protect yourself.” So what do finance reporters know that the White House doesn’t?
As full implementation of the Affordable Care Act (ACA) approaches, every doctor, research professional, and health administrator I talk to tells me the same thing: Obamacare is going to reduce the quality of care and cost you more… in some cases, a lot more.
This technology is not simply for modeling and prototyping, either. TV personality Jay Leno uses a 3-D printer to make custom and hard-to-find parts from scratch for his collection of classic cars. Entrepreneurs have been using these printers in a myriad of ways, and the trend is speeding up.
The Affordable Care Act creates a new health insurance marketplace (the exchange). But because of the great uncertainty about what buyers will enter the market and who will buy what product, the law creates three vehicles to reduce insurance company risk.
Facts are easy. You can check facts. What supporters of the Affordable Care Act are doing, on the other hand, transcends factual bungling. It’s far more advanced: a warping of reality so debauched it looks like something out of a tale by H.P. Lovecraft.
“Dad, I’ve got to do something,” begins a panicky letter from one of the children.
“When I changed my job status, I lost my health insurance. The best policy I can find is $550 a month. What should I do?”
“Don’t buy the insurance,” we suggested. “It’s a waste of money.”
“Just don’t get sick,” we added helpfully.
There are two ways a government can rip off its citizens — force and/or fraud. Health care uses both.
Back in the times of Genghis, Attila, Caesar and Napoleon, things were simpler. People were conquered. They submitted. “Insurgents” were disposed of. Houses were looted. Maidens were deflowered. Those were the good ol’ days — before health insurance!
But even in the oldest of days, a man on his own couldn’t keep a whole population under his heel. He needed help. Thus were born the ruling elites, sharing power among at least enough people to control the armed forces. There are governors of all sorts. But if they don’t control the military and police, they will soon be governed by them.
The beauty of democracy is that it defrauds the average person into believing that he has been taken into the ruling elite. He thinks that ultimately, he decides what government does. Naturally, he deserves a share in the spoils.
All government is an exercise in larceny. All governments take things away from some people — power, money, dignity, freedom — to bestow favors on the ruling elite and its clients. The masses willingly and eagerly comply as long as they think they can get something out of it — that is, someone else’s property.
The argument in Congress, which, when last we checked, was holding up the whole parade, was over how health insurance works.
Roughly, $2.2 trillion is spent annually in America — more, per capita than in any other nation — on health-related consumption. The fight is over who gets the money and who gets the care.
It is a zombie war… As far as we know, no one has suggested the obvious solution: Let people decide for themselves.
To win elections, governments need to give as well as take. So in addition to public safety and national security, they offer free health care, free education, free highways, and free elections to determine who gets what.
As near as we can tell, most of the money spent on health care is simply wasted. Just compare life expectancies.
France has a nationalized system. It costs considerably less per person than the U.S. system. Britain, France, Germany — all the developed countries have health care programs partly or wholly run by the feds. All spend substantially less than the U.S. and all have about the same or better life expectancies.
Taking a more extreme example, Cuba spends only a fraction as much as the U.S… but its life expectancy rates that are not much different.
Here, again, you might be tempted to say that the feds have failed to create an efficient health care system in the U.S. In that, you would certainly be correct. But you would miss the larger point: The U.S. Federal Reserve succeeded better than any of their rivals in transferring wealth from the dumbbell public to their wily favorites in the insurance and health care industries.
And wait… What’s this? According to a recent BMJ study:
“Researchers at the London School of Economics, Harvard Pilgrim Health Care Institute at Harvard Medical School and Stanford University School of Medicine compared the effectiveness of exercise versus drugs on mortality across four conditions (secondary prevention of coronary heart disease, rehabilitation of stroke, treatment of heart failure and prevention of diabetes).
“Secondary prevention refers to treating patients with existing disease before it causes significant illness.
“They analyzed the results of 305 randomized controlled trials involving 339,274 individuals and found no statistically detectable differences between exercise and drug interventions for secondary prevention of heart disease and prevention of diabetes.”
Well, that’s great news, isn’t it, dear reader? Forget the pills. Just go out and take a walk. That should save the nation hundreds of billions, right?
Oh, dear reader, you crack us up. You’ve missed the point again. The idea is to transfer money, not help people become healthier.
If the feds really wanted a healthy population and an efficient health care system, they’d cease offering health care services to anyone who was overweight, for example, or to anyone who couldn’t do at least 10 pushups.
Get it? They’d encourage people not to need health care.
As the system works today, few people will choose exercise over drugs. When you exercise, you pay the “costs” yourself. You have to spend the time. You have to do the work. But when you get free drugs from Medicaid, someone else pays.
Get used to it: More drugs… more drones… and more Fed credit-pushing drivel.
Article originally appeared here.