Armstrong Economics Blog/Opinion
Re-Posted Aug 19, 2019 by Martin Armstrong
QUESTION: Marty, what do you make of Harris’s Medicare-for-all plan joining Bernie Sanders? Is this just another way the destroy the society?
ANSWER: There is a HUGE problem nobody seems willing to address. People compare US healthcare costs to those of places like Britain. The problem is that we have a private system and in Britain, the doctors work for the government. Harris’s plan is sort of a hybrid and it would be phased in over 10 years making it another government disaster. All we need to do is look at the VA hospitals. Government is simply incapable of managing anything and then misconduct and mismanagement are exempted from exposure when it is politically important for an election.
Unlike Sanders’, Harris’s plan would include a substantive role for private insurers, which would still be able to offer plans under a tightly regulated system, similar to the way that private insurers currently do through Medicare Advantage.
Additionally, it would transition Americans from the existing system to Medicare-for-all in 10 years, instead of four. And finally, it would use a slightly different payment mechanism: Harris backs several of the methods Sanders has suggested, including higher capital gains taxes, but would only impose taxes on households making $100,000 or more. Sanders’ plan, meanwhile, would impose taxes on households making $29,000 or more.
Healthcare is pricing itself out of the economy. We cannot create a hybrid system leaving private doctors yet 100% coverage under the current system. The VA hospitals prove government cannot be trusted with management. That means we have to create a system that is private yet not uncontrollable.
I would encourage private Medicare-for-all hospitals by treating them as a public utility and to create an incentive for existing hospitals to convert eliminating private insurance entirely. We do that by making them TAX-FREE and all procedures would be priced at a fixed rate with a standard profit margin. No more $500 for a $50 brace.
There are doctors who have been in private practice who have left and gone to the VA because it has become so insane. Many foreign immigrants come into the USA to get lucrative jobs as doctors with a medical degree. Then there are young people who want to become doctors because of the money rather than to help people. Nevertheless, there are a lot of people who want to help people and they would switch over in a heartbeat if we created a viable system.
I have had friends who had local private practices who have effectively been forced to join hospital groups. We have an explosion of Urgent Care centers created which compete against private practices. I have had discussions with those in hospital groups who have said decades ago that they would take that over private practices. That has been the trend.
We can encourage existing groups to switch to a Medicare-for-all system by making them TAX-FREE provided they agree to control over pricing as is the case in public utilities
Karl Marx the God of the Progressive movement.
I have lived in the typical middle class suburban American community since 1982; and shortly after moving here Jerry N. Hruby began serving his first of eight four-year terms as Mayor of the City of Brecksville. The city of Brecksville under his management has prospered and I would say is one of the best run cities in northeast Ohio. Despite this prosperity a number of years ago a group of Progressive radicals targeted Brecksville for conversion to a socialist style management. This was part of the national progressive movement to find a way to reverse the Citizens United Supreme Court decision which broke the hold that Unions had on political campaigning.
Being nominally involved in local politics I have have had the occasion to talk with Mr. Pesche and I have found that he lacks candor.
It is now clear to me that Petsche believes in “fundamentally changing” the city of Brecksville into some form of socialist styled management as described below in the summary of a recent Brecksville Magazine article. I would not normally post something like this on my blog since I mostly focus on national and international issues. But I do know that Petsche and the rest of his cohorts are part of a national movement to turn America into a socialists (Marxist) style country. Unfortunately anyone that desires to create a “socialist” system is obviously very uninformed, because all previous attempts to create a socialist system have instead created civil wars and mass murder for large segments of the countries that have been forced down that path. Therefore I find his motives to be at best disingenuous and at worst malignant.
Please see the attached link to an article that just appeared in Brecksville Magazine if you are ares interested in stopping Petsche.
I have witnessed Joe Petsche a the freshman city councilman that ran on a platform of “transparency and integrity” do just the opposite himself. He and his surrogates, including a group now calling themselves, (ironically) “A Better Brecksville” have spent his entire 19 months in office trying to sow division in our community and disrupt city government.
Now he’s running for mayor of Brecksville with a slate of his “A Better Brecksville” backers simultaneously running for city council.
By the way, to date, Petsche’s firm has been paid approximately $145,000 from the city as a subcontractor. I find this despicable since in public he has indicated to me that he had no “real” financial dealing with the city. I will grant I did not ask him that exact question but the subject was related to outside money being used to influence local elections.
This article should be shared with fellow Brecksville residents on our individual email distribution lists. Please copy the link and insert into emails with your own comments. Voters need to learn about this matter.
Published on Aug 14, 2019
Armstrong Economic Blog/Rule of Law
Re-Posted Aug 18, 2019 by Martin Armstrong
QUESTION: The US will start the death penalty again. What is your view on the death penalty?
ANSWER: It is far worse to live in prison for life the way the government will torture you without remorse. They are beginning executions once again since 2003. Their allegations against people are always exaggerated and they are cold-hearted. I never met anyone who ever did everything the government claimed and there is a risk that the people they intend to execute are innocent or never intended to do such a crime. The real professional criminals know the system and immediately start testifying against others to get a reduced sentence. So the people they want to execute had nothing to deal with, which tends to imply they were not necessarily career criminals and if they were nuts, that is never a defense anyway. In the famous case of Adamson, he pled guilty waiving a jury trial with the understanding he would get a life sentence and then in 1988 the judge ordered him to be killed. That was eventually overturned that his plea was contrived by the courts themselves promising him one thing and then ordering him to be executed. There is no honor in the Justice System – none whatsoever!!!!!
I personally think the death penalty should be VOLUNTARY for there are people who would take that option rather than being imprisoned for life. If I were in such a position, I would certainly volunteer in a second. To live the rest of your life being tormented by guards for fun and sport is no way to live and no judge will EVER listen to a complaint from an inmate. I simply asked to be given medical treatment and I was denied by two judges and had to wait until my release to seek medical attention. As a result, the vision in my left eye remains partially blurry because they refused me my basic human needs.
Death is an escape; it is not a punishment for it is over fast compared to incarceration that remains for your entire life.
Published on Aug 15, 2019
Streamed live on Feb 25, 2019