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03-05-2013 07:20 AM
The talking heads are all a twitter over all time highs in the stock market. I would be more supportive except for the fact that we are largely here due to the FED.
Low interest rates have been very beneficial to the corporate sector and valuations have been the beneficiary.
We have debated the fiscal cliff and higher taxes. Now we have the sequester because we can't agree on the spending cuts. I, for one, believe that this is where the danger lies. We address the taxes and have cut some spending but the real problem that will bankrupt our children are the entitlement programs.
We live longer and our models for paying for this are outdated. Our litigious society has made healthcare ridiculously expensive and almost impossible to pay for. These are the real problems that an all time high in the stock market will not address. These are the real problems that sequester cuts and higher taxes will not address.
Entitlements need to be cut. We have no choice. Politicians are reluctant because they will be putting themselves at risk of losing their jobs. So, instead of making hard decisions politicians continue to spend your/our money in the hopes of some economic growth down the line. We can see no growth. GDP is +0.1%. It's pouring good money after bad. It's the entitlements we need to pay attention to. I hope we wake up and smell this stale coffee.
03-05-2013 07:35 AM - edited 03-05-2013 07:36 AM
Hey Scott, I caught a little of The Chris Mathews Show this weekend the guests were all laying the framework for "means testing" on social programs, that`s a 180º about face from their "no cuts! just tax the Koch bros more!" rhetoric from a couple years ago. Also James Carville, on "This Week" talked about a study that shows that the "Keystone pipeline would be safe" ....well Bazinga!
03-05-2013 07:40 AM
Price gouging is what has made health care to expensive. Find a itemized hospital bill for example a box of kleenix over10 bucks, one pill of tylenol over ten bucks, and etc. You would think a hosptal would get a quanity discount and there prices would be lower than what a person on the street could buy at the local drug store.
03-05-2013 07:47 AM
NDF--but you gotta pay for the little plastic cup the tylenol comes in; you gotta pay the nurse to bring it to your bedside; you gotta pay the doctor to prescribe it; you gotta pay the custodian to take the little plastic cup to the dumpster; you gotta pay the garbage man to haul the little cup to the landfill; you gotta pay landfill fees to hold the little cup; you gotta pay for the water to wash the pill down; you gotta pay for THAT cup too----and so on.
$10 for one tylenol is cheap ain't it!!!!!
03-05-2013 07:53 AM
I believe the prices charged are a result of decisions made in the court room as stated above.Legislators were mostly against tort reform and as a result malprictice insurance exploded when the excessive awards were handed out .ie.hot coffie spilt in lap just sue and get 100,000s of thousands of dollars.