Posted tagged ‘Healthcare is an Economic Good’

Must Reads For The Week 1/6/18

January 7, 2018

U.S. Oil And Natural Gas Exports Soar, at theinstituteforenergyresearch.org. In 2011 oil was the 146th ranked export. By Sept 2017 oil became the 15th ranked export. Why has the US become the worlds largest producer of oil and natural gas? Because the ingenuity of American oil and gas producers was unleashed when the price of oil rose to over $125 a barrel. The profit incentive created more productive ways to extract oil.

Whose Ideas? at ericpetersautos.com. Excerpt from the article: It’s been said that good ideas don’t require force – while bad ones rarely get traction without it. True enough. But How about a qualifier? Whose ideas? Yours? Mine? There is a kind of tacitly agreed upon …. notion that we all agree on what constitutes a “good” idea. It’s the keystone of coercive collectivism, without which that ideology loses moral legitimacy. But in fact, we don’t agree about what a “good” idea is. Millions of individuals tend to have millions of individually variable ideas about that. So whose ideas will prevail?… If there is a free market – in ideas as well as economics – this will sort itself out naturally and non-violently, via the signals of supply and demand……Unfortunately there’s no way to know, because the market – millions of individual people’s freely expressed determinations about what’s “good” – hasn’t been allowed to operate. Instead, a handful of people’s idea that air bags (and the rest of it) are “good” has been imposed on everyone else, on the false presumption that everyone agrees it is good to have six air bags – and many other such things – installed in every new car. this is taken as a kind of collectively agreed upon noggin nodding. That illusion must be maintained, in order for the coercion and collectivism behind it to have any semblance of morel legitimacy…… The government only got into the car design  business in a serious way in the mid-70’s. Before then, we were largely free to buy what we wanted – not what coercive collectivism imposed on us. There was a market for bare-bones simplicity, high-end luxury and almost every conceivable thing in between. Not coincidentally, the golden age of car design is generally considered to be the pre-government design era….How did it happen that other people’s ideas of what’s “good” are binding on us? It’s the craziest – and the most dangerous thing imaginable. Coercive collectivism – the ideology responsible for literally hundreds of millions of murder victims – depends on maintaining the illusion that everyone is in agreement. That we are all one bit “team”. And of course, every team has leaders.”

Amish Anarchy & Uncle Sam, at zerohedge.com. This is an example of what the above article is about. Government busybodies in Wisconsin think Amish horse drawn buggies should have seat belts, child seats, air bags, back up cameras, safety glass, head lights, turn signals and tire pressure monitors. In this case we should be on the side of the Amish. Leave these people alone. We should then ask the question: “Why don’t you leave us non Amish people alone?”

America’s Top Five Inbound vs. Top Five Outbound States, by Mark J. Perry, at carpediemblog. I know it is hard to believe. But lower taxes, less government and more economic freedom seem to attract people. While higher taxes, big government and less economic freedom repel people.

“Everything Is Overvalued”: Public Pensions Face Dangerous Dilemma In 2018, at zerohedge.com. Because the under funding of public pensions has taken place, public pension plans are seeking higher yields. This means they are taking a risk by putting money into over valued stocks and bonds. You are supposed to buy low and sell high. But these managers are going all in in an over valued market. Guess who bails these pensions out when the correction happens? Tax payers!

Socialized Medicine Update: Britain Cancels 50,000 Surgeries, at economicpolicyjournal.com. Healthcare is an economic good. Which means it is scarce and has to be rationed. Prices ration economic goods in a free market. In a socialist economy waiting in line is how economic goods are rationed. Excerpt from the article: “Every hospital in the country has been ordered to cancel all non-urgent surgery until at least February in a unprecedented step by NHS officials. The instructions on Tuesday night – which will see result in around 50,000 operations being axed – followed claims by senior doctors that patients were being treated in “third world” conditions, as hospital chief executives warned of the worst winter crisis for three decades. Hospital are reporting growing chaos, with a spike in winter flu leaving frail patients facing 12-hour waits, and some units running our of corridor space.”

The reality is being realized that healthcare can’t be made a non economic good by government decree. The laws of economics are always in play.

Venezuela Forced To Pay For Medicine With Diamonds And Gold, at zerohedge.com. Venezuela has destroyed its currency via the printing press. The Government of Venezuela is asking pharmaceutical trading partners to accept payment in gold, diamonds and other precious stones (real commodity money). The people of Venezuela have started their own system of barter for medicines. Printing money doesn’t make a country wealthier. Producing real goods and services represents the real wealth of a country. Consumption via the printing press destroys wealth.

Mistrial Declared In Cliven Bundy Standoff Case, at oregonlive.com. Here is another example of the break down of the rule of law. Government agencies used their power against US citizens in order to push the agencies agenda. The constitution was written to protect individuals from this government abuse of power.  Excerpt from the article: “A federal judge Wednesday declared a mistrial in the prosecution of Nevada cattleman Cliven Bundy, his two sons and a co-defendant, citing the government’s “willful” failure to turn over multiple documents that could help the defense fight conspiracy and assault charges in the 2014 Bunkerville standoff….. The judge listed six types of evidence that she said prosecutors deliberately withheld before trial…”The failure to turn over such evidence violates due process,” the judge said.”

Trump Threatens To Cut Off US Aid To Palestinian Authority, at zerohedge.com. No Presidential administration ever cuts foreign aid. Trump is different. These countries are scared because they are figuring out he follows through with threats. Here is another example: A Furious Pakistan Summons US Ambassador, Calls Emergency Meeting After Trump Tweet, at zerohedge.com.

“Black Cities Are Still Bleeding To Death”: Baltimore Pastor Blames Police Absence For Surge In Killings, at zerohedge.com. Here is an excerpt from the article that I think is interesting: “…..on whether the community wanted police to back off after the death of Freddie Gray? No. That represented our progressives, our activists, our liberal journalists, our politicians, but it did not represent the overall community…..What I wanted to see was that people would be able to trust the relationship with out police department so that they would feel more comfortable……So we wanted the police there. We wanted them engaged in the community….I’m a preacher…..Not until we really have a conversation with our front line officers in the heart of our black communities that does not involve our people who are “leaders”. We need the front line police officers and we need the heart of the black community to step to the forefront of this discussion. And that’s when we’re going to see a decrease in crime.”

Isn’t it interesting that progressive politicians, progressive journalists and progressive activists have an agenda that has nothing to do with what the overall community wants. When will we understand that insiders in politics, government bureaucracy, journalism and education are not on the side of the individual. These progressive insiders are on the side of imposing their world view on the rest of us.

 

Advertisements

Must Reads For The Week 2/18/17

February 18, 2017

THE ECONOMIC REALITY OF OIL

US Rig Count Rise Continues: What Will OPEC Do If The Market Doesn’t Rebalance? at zerohedge.com. The oil market is always balanced between existing supply and demand for oil. It may not be balanced from the perspective of OPEC, but it is always in balance. When the price of oil rose to $120 a barrel  in 2008 the oil price was balanced, and OPEC was happy, because they were the seller. But consumers of oil were not happy. Unfortunately for OPEC, but fortunately for the consumer, this price allowed the US fracking industry to enter the supply side of the market and ramp up production. As a consequence of this price increase, the fracking industry found lower cost ways of extracting oil. On the demand side, people started to use less oil because of the high price. The increased supply and decreased demand eventually reduced the price of oil to $40 a barrel. This price was ‘balanced’ at $40, but OPEC didn’t like this balance. OPEC decided to cut production which would decrease supply and eventually push the price back up. Unfortunately US fracking is now profitable in the $40-$50 a barrel range. As the OPEC cuts raised the price, to above $50, frackers were able to supply oil at this price, establishing a lower price that OPEC is not happy with, but consumers are. The OPEC ‘cartel’ doesn’t have the influence over the world oil market it once had. Thanks to the dynamic US fracking industry. Read my article: Decreased GAsolint Demand + Increased Oil Supply = Decreased Oil Prices.

Goldman Stunned By Collapse Of In Gasoline Demand: “This Would Require A US Recession“, at zerohedge.com. This is the other side of the supply and demand coin that we talked about above. Demand is collapsing. Which means the price will drop to sell off the over-supply which doesn’t coincide with the decreasing demand. The lower price will eventually bring supply and demand back in line with the desires of consumers and producers. Does this collapse mean that the economic activity is shrinking? Maybe. Or will demand go up when the price decreases? Read my article: Gasoline Consumption Is Down: Why?

HEALTHCARE  REALITY

Major Blow To Obamacare Mandate: IRS Won’t Reject Tax Returns That Don’t Answer Health Insurance Question, at reason.com. What does this tell us about Obamacare when bureaucrats don’t want any more paperwork and information? Trumps executive order providing relief from Obamacare seems to be effective.

Healthcare Is No Immune To The Laws Of Economics, by Jonathan Newman, at mises.org. This is why healthcare is not a right. Healthcare is an economic good that has to be produced by someone. You don’t have a right to take what someone produces. You have to exchange something you own for what the healthcare provider produces. Calling healthcare a right doesn’t magically change the reality that it is an economic good.

Judge Rules Health Insurance Companies Matter More Than Taxpayers, by Tho Bishop, at mises.org. The tax payers not only pay for the losses of  insurance companies who participated in government created high risk pools. We have to pay for our own increased insurance costs. Heads they win, tails we loose.

Two Health Insurance Company Mega-Mergers Collapsed Today Update (Humana Out Of Obamacare), at hotair.com. Government intervention always leads to a less optimal economic reality than would exist if the market was allowed to function freely.

DRAINING THE SWAMP

Rex Tillerson Cleaning House At State Department, by Danial Halper, at nypost.com. Getting rid of unelected decision makers who are biased toward big government (insiders) is a great start to changing the culture in the federal government.

E.P.A. Workers Try To Block Pruitt In Show Of Defiance, at nytimes.com. Who still thinks that government workers (public servants) are not biased politically. They don’t want anyone to be elected who they think will cut the size and scope of government. More unelected decision makers are going to be fired.

Over Massive Opposition, Betsy DeVos Is Confirmed As Education Secretary, at thinkprogress.org. If teacher’s unions and their allies are against her confirmation, her confermation must be a good thing. Teacher’s unions main concern is to increase the number of teachers in the country so money from union dues will increases. Educating children isn’t important to the leadership of the teacher’s unions. Although it probably is the main concern of a majority of the teachers who are members of the union.

House Republican Introduces A Bill To Get Rid Of Dept. Of Education, at zerohedge.com. Now this would really drain the swamp. Unfortunately the Republicans don’t have enough hangie down things to pass this bill.

MISCELLANEOUS

Medallion’ Bubble Bursts Around The World, at zerohedge.com. Who is shocked that a government created monopoly is collapsing because of an unforseen competitor. Government created artificial scarcity for Taxi medallions drove up their price. Now look who is paying the cost of this artificial scarcity. It isn’t the Government. It is the suckers who bought the medallions at the inflated prices.

Officials Continue To Dodge Attempts To Disclose Use Of Stingrays, at reason.com. Stingrays are cellular surveillance devices used by police.

Riot-Prone Mobs Are A Product Of America’s Cult-Like Education, at thefedrealist.com. Excerpt from the article: “….Today’s street theater is the culmination of decades of radical education revision. The radical Left’s systematic attack on the study of Western Civilization has essentially been an attack against the study of any and all civil societies. It is an attack n the features that make a society civil and free. Those features include freedom of expression, civil discourse, the Socratic method of figuring out truth, value of the individual, and a common knowledge of the classics of history and literature that help us understand what’s universal in the human experience.”