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To: Jim Noble; DoodleDawg; kaila
Folks, another Karl Denninger post on the topic, posted just today (ironically enough).

Liar.

Here is a sample:

The medical system in this country is not bankrupting people or the nation because of Obamacare. It is bankrupting people because it has managed to exempt itself from the very laws that I had to follow running an Internet company.

Those are the same laws, incidentally, that a company making cars, washing machines or for that matter computers must follow.

They are the reason that a computer today costs a tiny fraction of what a computer of equivalent capability cost a few years previous. They are the reason you can buy a $3 calculator when the original Monroe "portable" cost a few hundred dollars. They're the reason my original Sony D-5 CD player cost $350 in 1984 and yet today you can buy a CD player for $30 or less. They are the reason my first 50" HDTV cost close to $10,000, while today I can buy one at WalMart that uses a tiny fraction of the power and is also a fraction of its size and mass -- for $500.

These laws are good, not bad. They say that if you buy a laptop computer you own the ******ned thing and may do with it as you wish, including selling it to someone else for whatever price you may negotiate between you.

They also say that if I, as a manufacturer of said computer, get together in a room with other manufacturers and try to fix prices we all go to prison because that's a violation of 15 USC, the Sherman and Clayton Acts. We can go to prison for a decade and be fined $1 million each, while our respective companies can be fined $100 million -- for each attempt.

These two laws say that any act designed to fix prices or restrain trade by agreement or conspiracy between two or more entities where market power exists is per-se unlawful and triggers these penalties.

This is a good law. It is a law that I lived by despite having one hundred competitors in my local market. I lived by it not only because it was the law but because competition is good and it results in better goods and services, along with lower prices, for everyone. Those who put forward a superior product at a lower price prosper, those who can't or don't fail. That's what competition is and there is exactly none of it in the medical industry.

127 posted on 11/18/2014 3:25:48 PM PST by Oberon (John 12:5-6)
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To: Oberon

I just had a repairman come to fix my water purification system. He was here for about 10 minutes, and charged me $149. That is much more than a physician would make in that same time period evaluating a patient. You can barely get $150 for a tonsillectomy under Medicaid ( not much more with other insurance plans) . For that tonsillectomy, the charges are all lumped together. The preop visit, the surgery, and 90 days post op are the complete payment of $150 you receive for a very high risk procedure. Think Jahi McMath. If there were free market forces, the prices at least on the physician end would increase.Payments to providers are already at the bottom of the barrel. Also, computer makers left the USA to run sweat shops in China to drop their employee cost.The computer maker does not have to hire thousands of super skilled workers like hospitals all across the country have to do. They hire peasants out of the villages to work for a paltry salary. Electronics and healthcare are two different scenarios ,and you cannot compare the two.


128 posted on 11/18/2014 4:36:39 PM PST by kaila
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