The mainstream narrative is “the problem is low wages.” Actually, the problem is the soaring cost of living. If essentials such as healthcare, housing, higher education and government services were as cheap as they once were, a wage of $10 or $12 an hour would be more than enough to maintain a decent everyday life.
Here are some examples from the real world. In 1952, it cost $30 to have a baby in an excellent hospital. If we adjust that by official inflation as measured by the Bureau of Labor Statistic’s inflation calculator to 2017, the cost would be $275. ($1 in 1952 = $9.16 in 2017).
What does it cost to have a baby delivered in a hospital today? $5,000? $10,000? Who even knows, given the convoluted billing process in today’s sickcare system?
The pharmaceutical cartel jacks up medication costs per dose from $3 tp $600, even when the medication has been around for decades: the Pinworm prescription jumps from $3 to up to $600 a pill Parents, doctors angry over drug price gouging (via John F.)
My father paid 1.8% of his wages for “hospital group insurance” in the early 1950s (for a household of four kids and two adults.) For someone earning $1,000 a week, the equivalent today would be $72 a month out of a monthly gross income of $4,000.
My spouse and I pay $1330 a month for barebones healthcare insurance in today’s sickcare system. Factor out subsidies paid by the employer or state, and minimal healthcare insurance costs tens of thousands of dollars per household annually.
Since 1913 the Federal Reserve has destroyed 99% of the purchasing power of the dollar. Since the early 1900s (at least), the AMA has been in bed with the government at ALL levels (fed, state, local) conspiring to destroy alternative medicine, choice, freedom, the free market, etc. all to preserve their monopoly, control access, maintain shortages, and drive up prices. Since the 1940s (Truman), “insurance” – really pre-paid medical policies – began being offered by employers as a way to get around Truman’s wage and price controls. Once people started getting used to a 3rd party payer, they gave up their own control over prices and payments. Since the 1960s and Medicare, governments hands have touched 50% of EVERY dollar spend on healthcare. That involvement has driven prices through the roof (more loss of consumer control in the marketplace). Government steals now $3Trillion from the productive sector of society. They further burden the productive sector with Trillions more in regulatory and compliance costs which MUST be passed on to the consumer. At the root of EVERY problem you listed is GOVERNMENT (and the Federal Reserve – its financial enabler). Get rid of both – or at least the Fed and 95% of the government), and nearly all the problems go away. That must power over the choosing of winners and losers, economic futures, the value of money, the exercise of freedoms and free market choices, etc. should NEVER be allowed to fall into the hands of ANY individual or group of individuals. The outcome will ALWAYS be negative.
EL Coyote
March 3, 2017 9:06 pm
I thought this would be about Barnum Bailey’s buttcrack.
Is anybody else tired of this clown’s one man circus? Hmm, that could be a QOTD.
Happened to read that post tonight… If anyone is wondering where I disappeared to, I’m homeless. Surviving that in the colder northern climes, not easy. The house I’ve been staying at mainly, has 3 generations under one roof. The gen-x daughter and her two kids sleep on the couch.
Said daughter, who does not even have a bed, signed a loan on a 10yr old Ford, asking $5k, negotiated to $3.7k. After the loan (terms unknown, other then 33% APR), it is expected to cost $9k. Throw on the req for full coverage insurance,… That 10yr old Ford will eventually cost upwards of $20k with some maintenance thrown in.
In ’06, I picked up a 10yr old Ford Windstar for $3k + tx and title. (About $360 added.) Due to being paid in full, I only needed basic coverage, about $240/6mo. Oh, and most of the work done in the last 11-12yr, I’ve done personally.
Is that 33% APR not “deep subprime?”
I’m already having nightmares about what that car is going to end up costing.
Houston davis
March 4, 2017 1:35 pm
Sounds much better on my infinity quantum line source speakers with the dual voice coil woofers and paper cones. Goes down to 18 cycles baby! With the dbx sub harmonic synthesizer of course. I like to feel my music as well as hear it.
I hate to put this here but maybe admin can make a post out of it?
http://www.oftwominds.com/blog.html
The mainstream narrative is “the problem is low wages.” Actually, the problem is the soaring cost of living. If essentials such as healthcare, housing, higher education and government services were as cheap as they once were, a wage of $10 or $12 an hour would be more than enough to maintain a decent everyday life.
Here are some examples from the real world. In 1952, it cost $30 to have a baby in an excellent hospital. If we adjust that by official inflation as measured by the Bureau of Labor Statistic’s inflation calculator to 2017, the cost would be $275. ($1 in 1952 = $9.16 in 2017).
What does it cost to have a baby delivered in a hospital today? $5,000? $10,000? Who even knows, given the convoluted billing process in today’s sickcare system?
The pharmaceutical cartel jacks up medication costs per dose from $3 tp $600, even when the medication has been around for decades: the Pinworm prescription jumps from $3 to up to $600 a pill Parents, doctors angry over drug price gouging (via John F.)
My father paid 1.8% of his wages for “hospital group insurance” in the early 1950s (for a household of four kids and two adults.) For someone earning $1,000 a week, the equivalent today would be $72 a month out of a monthly gross income of $4,000.
My spouse and I pay $1330 a month for barebones healthcare insurance in today’s sickcare system. Factor out subsidies paid by the employer or state, and minimal healthcare insurance costs tens of thousands of dollars per household annually.
Since 1913 the Federal Reserve has destroyed 99% of the purchasing power of the dollar. Since the early 1900s (at least), the AMA has been in bed with the government at ALL levels (fed, state, local) conspiring to destroy alternative medicine, choice, freedom, the free market, etc. all to preserve their monopoly, control access, maintain shortages, and drive up prices. Since the 1940s (Truman), “insurance” – really pre-paid medical policies – began being offered by employers as a way to get around Truman’s wage and price controls. Once people started getting used to a 3rd party payer, they gave up their own control over prices and payments. Since the 1960s and Medicare, governments hands have touched 50% of EVERY dollar spend on healthcare. That involvement has driven prices through the roof (more loss of consumer control in the marketplace). Government steals now $3Trillion from the productive sector of society. They further burden the productive sector with Trillions more in regulatory and compliance costs which MUST be passed on to the consumer. At the root of EVERY problem you listed is GOVERNMENT (and the Federal Reserve – its financial enabler). Get rid of both – or at least the Fed and 95% of the government), and nearly all the problems go away. That must power over the choosing of winners and losers, economic futures, the value of money, the exercise of freedoms and free market choices, etc. should NEVER be allowed to fall into the hands of ANY individual or group of individuals. The outcome will ALWAYS be negative.
I thought this would be about Barnum Bailey’s buttcrack.
Is anybody else tired of this clown’s one man circus? Hmm, that could be a QOTD.
http://www.zerohedge.com/news/2017-03-03/auto-lending-update-someone-please-explain-how-not-bubble
Happened to read that post tonight… If anyone is wondering where I disappeared to, I’m homeless. Surviving that in the colder northern climes, not easy. The house I’ve been staying at mainly, has 3 generations under one roof. The gen-x daughter and her two kids sleep on the couch.
Said daughter, who does not even have a bed, signed a loan on a 10yr old Ford, asking $5k, negotiated to $3.7k. After the loan (terms unknown, other then 33% APR), it is expected to cost $9k. Throw on the req for full coverage insurance,… That 10yr old Ford will eventually cost upwards of $20k with some maintenance thrown in.
In ’06, I picked up a 10yr old Ford Windstar for $3k + tx and title. (About $360 added.) Due to being paid in full, I only needed basic coverage, about $240/6mo. Oh, and most of the work done in the last 11-12yr, I’ve done personally.
Is that 33% APR not “deep subprime?”
I’m already having nightmares about what that car is going to end up costing.
Sounds much better on my infinity quantum line source speakers with the dual voice coil woofers and paper cones. Goes down to 18 cycles baby! With the dbx sub harmonic synthesizer of course. I like to feel my music as well as hear it.