There are always a lot of people so afraid of rocking the boat
that they stop rowing.
We can never get ahead that way.
Harry S. Truman
Factoid of the Day
8.5 Million Americans Left Labor Force In Obama's First Term - Newbusters
I hate the way progressive news writers, including the Gray Lady, put lipstick on a pig. The numbers (157K and 7.9% official unemployment) are not good--in fact, it hasn't been quite keeping up with new labor force entrants. The new January employment numbers and the recently reported small contracted GDP fourth quarter 2012 number surprised economists to the downside.
What to make of the surging stock market. I think there are a variety of things going on including some money shifting from junk/high yield bonds to stocks. This is not an investment blog, but I've had modest success in my retirement investments lately. I have rrecently reduced my bond exposure, I've increased some holdings in selective emerging markets and I've had some interest in the banking, pharmaceutical, energy, and housing/construction sectors; I don't chase stocks (high relative strength), I limit positions, I cut my losses early, and I don't get greedy--I set price targets, and I'm a disciplined buyer and seller. It's getting harder to find good values from a risk/reward standpoint. This discussion and $5 will buy you a cup of joe at Starbucks; do due diligence and invest at your own risk.
S3313: A Nuanced THUMBS DOWN!
I am unsympathetic in general with gold-plated special-interest health benefits in regulated insurance systems, e.g., cosmetic procedures, erectile dysfunction, and (in most cases) in vitro fertilization (IVF). This does not mean that I oppose a market in these services--just forcing other folks to subsidize the personal expenses. Take, for instance, an unmarried Air Force major nurse (currently earning $52,348 - $87,404 depending on years in service), in good health, worried about her biological clock, wants IVF under what I call ordinary conditions (e.g., stateside service). She's earning good money; why should the American people be asked to pay her IVF expenses, especially since a lot of them are expected to save up for the same procedure?
I have one general exception. I'll excerpt the LA Times here:
The war takes away so many things from us," Matt Kiel said. "I don't think it should take away our ability to have a family." Kiel, 31, of Parker, Colo., is among a growing population of veterans whose war wounds make it difficult for them to have children. The use of homemade bombs to target foot patrols has left them particularly vulnerable to injuries that can damage their reproductive systems. The Department of Defense does cover IVF for injured active duty service members. But by the time some service members have sufficiently recovered from their wounds to start planning a family, they are no longer on active duty and no longer qualify for the coverage. When Kiel first learned the extent of his disabilities from his neck wound, he looked at his wife and asked if she still loved him. The couple scraped together more than $30,000 to pay for IVF. Tracy got pregnant on the first attempt. Children Matthew and Faith are now 2 and have just learned to ride on the back of their dad's wheelchair. "She jumps up there and says, 'Go daddy, go,' " Tracy Kiel said.When you serve your country and sustain a disabling injury in harm's way limiting your options of bearing children, I think the country has a moral obligation to help, to make the service member/veteran whole. I'm also supportive of proactive optional policies of preserving sperm for service members in the event of catastrophic injury affecting the ability to reproduce. I myself have a niece named Faith; she is a beautiful, precious gift from God. Every man and potential Dad deserves the possibility of a little Faith in his life.
Towards a Free Market in Healthcare
I have discussed alternatives to the bizarre cost-shifting where absurd markups abound, designed to maximize "uncovered costs" for government supports, the accounting gimmicks even Bernie Madoff and former Enron executives can't believe they get away with. I have discussed alternatives like an Oklahoma clinic which provides low, all-inclusive rates for various treatments and medical tourism. Today within capacity constraints of foreign-based, US quality providers, one can get all-inclusive bundled costs (travel, hotel, local transportation, treatment, etc.) at a significant cost savings to domestic providers. The availability of competitors provides an incentive for US providers to get unsustainable costs under control.
| Surgery * | USA | Colombia | Costa Rica | India | Jordan | Korea | Mexico | Singapore | Thailand |
| Heart Bypass | $144,000 | $14,630 | $25,000 | $8,500 | $10,000 | $24,000 | $20,000 | $13,500 | $24,000 |
| Angioplasty | $57,000 | $7,106 | $13,000 | $8,500 | $5,000 | $19,600 | $16,000 | $7,500 | $7,000 |
| Heart Valve Replacement | $170,000 | $10,450 | $30,000 | $1,200 | $12,000 | $36,000 | $30,000 | $13,500 | $22,000 |
| Hip Replacement | $50,000 | $8,360 | $12,500 | $8,000 | $8,000 | $16,450 | $13,125 | $11,100 | $14,000 |
| Hip Resurfacing | $50,000 | $10,500 | $12,000 | $8,000 | $8,000 | $20,900 | $12,800 | $12,100 | $16,000 |
| Knee Replacement | $50,000 | $7,106 | $11,500 | $7,000 | $7,000 | $17,800 | $10,650 | $10,800 | $12,000 |
| Spinal Fusion | $100,000 | $14,500 | $15,000 | $12,000 | $10,000 | $17,350 | $7,000 | $18,300 | $11,000 |
* Courtesy of Global Benefit Options, based on June 2009 Deloitte Data. A dated quote: "President Obama is also introducing healthcare reform, which Deloitte estimates will actually increase the cost of healthcare in the US, increasing the growing demand of Medical Tourism."
Political Humor
In his farewell speech to the Senate this week, John Kerry spoke for 51 minutes about Washington being gridlocked. The cause of the gridlock? Senators giving 51-minute speeches. - Jay Leno
The GOP response, based on family values, was 3 minutes long:
Yesterday President Obama went to Las Vegas and spoke about his new immigration plan. Afterwards he was harshly criticized by the locals for speaking in English. - Jay Leno
[The key takeaway is that Obama promises a path to citizenship for any immigrant able to pin the tail on the donkey on a sample ballot. Successful applicants get party favors, like subsidized housing and public healthcare plans, Obama phones, food stamps, welfare payments, and below-cost retirement benefits.]
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| Courtesy of Zazzle |
Musical Interlude: My Favorite Groups
Steely Dan, "Hey, Nineteen".This is the end of my Steely Dan series. I will next cover my favorite Association tunes.
