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Canadian Summarizes Our Collapse: "Everyone Takes, Nobody Makes, Money Is Free, Money Is Worthless"
Zero Hedge ^ | 12/26/2012 | Tyler Durden

Posted on 12/26/2012 8:04:35 PM PST by SeekAndFind

On this lackluster Boxing Day dominated by illiquid moves in every asset class, we thought a few succinct minutes spent comprehending the US and European government policies of social welfare and their outcomes was time well spent. Canadian MP Pierre Poilievre delivers a rather epic speech destroying the myths of US and European 'wealth' noting that "Once the US citizen is in debt, the US government encourages them to stay in debt," noting that "the US government encouraged millions of Americans to spend money they did not have on homes they could not afford using loans they could never repay and then gave them a tax incentive never to repay it." His message, delivered seamlessly, notes the inordinate rise in the cost of all this borrowing, adding that "through debt interest alone, soon the US taxpayer will be funding 100% of the Chinese Military complex." From Dependence to Debt to the Welfare State and back to Dependence, this presentation puts incredible context on the false hope so many believe in the US and Europe. Must watch.

 

"By 2020, the US Government will be spending more annually on debt interest than the total combined military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey, and Israel."

 

"Through government spending the indulgence of one is the burden of another; through government borrowing, the excess of one generation becomes the yoke of the next; through international bailouts, one nation's extravagance becomes another nation's debt"

 

"Everyone takes, nobody makes, work doesn't pay, indulgence doesn't cost, money is free, and money is worthless."



CLICK ABOVE LINK FOR THE VIDEO



TOPICS: Business/Economy; Government; Society
KEYWORDS: collapse; debt; deficit; spending; uscrisis; usdebt
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1 posted on 12/26/2012 8:04:43 PM PST by SeekAndFind
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To: Mears

bfl


2 posted on 12/26/2012 8:07:49 PM PST by Mears
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To: SeekAndFind; Clive; exg; Alberta's Child; albertabound; AntiKev; backhoe; Byron_the_Aussie; ...
To all- please ping me to Canadian topics.

Canada Ping!

3 posted on 12/26/2012 8:11:13 PM PST by Squawk 8888 (True North- Strong Leader, Strong Dollar, Strong and Free!)
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To: Mears; Squawk 8888
Country % of GDP
(CIA / Eurostat)[1][2]
Date % of GDP
(IMF) [3]
Date Region
 Albania 59.4 2011 est. 58.92 2011 Europe
 Algeria 6.6 2011 est. 9.92 2011 Africa
 Angola 24.5 2011 est. 30.90 2011 Africa
 Antigua and Barbuda 130.0 2010 est. 74.55 2011 North America
 Argentina 42.9 2011 est. 44.20 2011 South America
 Armenia 35.10 2011 Europe
 Aruba 46.3 2005 North America
 Australia 30.3 2011 est. 22.86 2011 Oceania
 Austria 72.9 2011 72.20 2011 Europe
 Azerbaijan 4.7 2011 est. 10.23 2011 Asia
 Bahamas 48.61 2011 North America
 Bahrain 75.3 2011 est. 36.46 2011 Asia
 Bangladesh 36.7 2011 est. Asia
 Barbados 103.9 2011 est. 117.25 2011 North America
 Belarus 50.24 2011 Europe
 Belgium 98.7 2011 98.51 2011 Europe
 Belize 83.6 2011 est. 80.35 2011 North America
 Benin 31.33 2011 Africa
 Bhutan 78.9 2011 est. 82.00 2011 Asia
 Bolivia 40.5 2011 est. 32.88 2011 South America
 Bosnia and Herzegovina 39.1 2010 est. 40.63 2011 Europe
 Botswana 20.3 2011 est. 17.26 2011 Africa
 Brazil 54.4 2011 est. 66.18 2011 South America
 Brunei Darussalam 0.00 2011 Asia
 Bulgaria 16.3 2011 17.04 2011 Europe
 Burkina Faso 29.44 2011 Africa
 Burundi 35.27 2011 Africa
 Cambodia 28.60 2011 Asia
 Cameroon 16.2 2011 est. 12.87 2011 Africa
 Canada 83.5 2011 est. 84.95 2011 North America
 Cape Verde 77.58 2011 Africa
 Central African Republic 40.90 2011 Africa
 Chad 32.15 2011 Africa
 Chile 9.4 2011 est. 9.91 2011 South America
 China 43.5 2011 25.84 2011 Asia
 Colombia 45.6 2011 est. 34.67 2011 South America
 Costa Rica 44.5 2011 est. 30.76 2011 North America
 Côte d'Ivoire 65.8 2011 est. 90.53 2011 Africa
 Croatia 58.0 2010 est. 45.57 2011 Europe
 Cuba 34.9 2011 est. North America
 Cyprus 72.4 2011 71.84 2011 Europe
 Czech Republic 41.2 2011 41.46 2011 Europe
 Democratic Republic of Congo 31.99 2011 Africa
 Denmark 46.5 2011 46.43 2011 Europe
 Djibouti 55.46 2011 Africa
 Dominica 78.0 2009 est. 69.88 2011 North America
 Dominican Republic 36.4 2011 est. 29.26 2011 North America
 Ecuador 22.1 2011 est. 17.98 2011 South America
 Egypt 85.7 2011 est. 76.45 2011 Africa
 El Salvador 57.1 2011 est. 50.79 2011 North America
 Equatorial Guinea 5.5 2011 est. 8.35 2011 Africa
 Eritrea 133.82 2011 Africa
 European Union 82.5 2011 Europe
 Estonia 6.1 2011 6.04 2011 Europe
 Ethiopia 42.3 2011 est. 37.26 2011 Africa
 Fiji 53.89 2011 Oceania
 Finland 49.3 2011 48.56 2011 Europe
 France 86.5 2011 86.26 2011 Europe
 Gabon 18.3 2011 est. 20.45 2011 Africa
 Gambia, The 68.77 2011 Africa
 Georgia 33.88 2011 Europe
 Germany 82.0 2011 81.51 2011 Europe
 Ghana 38.7 2011 est. 43.39 2011 Africa
 Gibraltar 7.5 2008 est. Europe
 Greece 165.3 2011 est. 160.81 2011 Europe
 Grenada 86.61 2011 North America
 Guatemala 24.5 2011 est. 24.06 2011 North America
 Guinea 72.19 2011 Africa
 Guinea-Bissau 45.23 2011 Africa
 Guyana 62.1 2011 est. 61.75 2011 South America
 Haiti 10.63 2011 North America
 Honduras 29.6 2011 est. 28.12 2011 North America
 Hong Kong 10.1 2011 est. 33.86 2011 Asia
 Hungary 80.6 2011 80.45 2011 Europe
 Iceland 130.1 2011 est. 99.19 2011 Europe
 India 51.6 2011 est. 68.05 2011 Asia
 Indonesia 24.5 2011 est. 25.03 2011 Asia
 Iran 11.6 2010 est. 12.70 2011 Asia
 Iraq 86.92 2011 Asia
 Ireland 108.4 2011 104.95 2011 Europe
 Israel 74.0 2011 est. 74.34 2011 Asia
 Italy 120.9 2011 120.11 2011 Europe
 Jamaica 126.5 2011 est. 138.98 2011 North America
 Japan 208.2 2011 est. 229.77 2011 Asia
 Jordan 60.7 2011 est. 69.78 2011 Asia
 Kazakhstan 16.0 2011 est. 10.88 2011 Asia
 Kenya 48.5 2011 est. 48.94 2011 Africa
 Kuwait 6.8 2011 est. 7.35 2011 Asia
 Kyrgyzstan 52.44 2011 Asia
 Laos 57.36 2011 Asia
 Latvia 42.6 2011 37.77 2011 Europe
 Lebanon 137.1 2011 est. 136.22 2011 Asia
 Lesotho 39.65 2011 Africa
 Liberia 13.92 2011 Africa
 Libya 4.7 2011 est. 0.00 2010 Africa
 Lithuania 38.5 2011 38.96 2011 Europe
 Luxembourg 18.6 2011 20.85 2011 Europe
 Macedonia 24.8 2010 est. 28.11 2011 Europe
 Madagascar 5.68 2011 Africa
 Malawi 36.8 2011 est. 42.46 2011 Africa
 Malaysia 53.5 2011 est. 52.56 2011 Asia
 Maldives 69.10 2011 Asia
 Mali 32.6 2011 est. 30.64 2011 Africa
 Malta 73.0 2011 70.94 2011 Europe
 Mauritania 92.40 2011 Africa
 Mauritius 60.2 2011 est. 50.63 2011 Africa
 Mexico 37.5 2011 est. 43.81 2011 North America
 Moldova 21.3 2010 est. 23.39 2011 Europe
 Montenegro 38.0 2006 45.83 2011 Europe
 Morocco 65.0 2011 est. 54.39 2011 Africa
 Mozambique 43.0 2011 est. 33.20 2011 Africa
 Myanmar 44.32 2011 Asia
 Namibia 27.4 2011 est. 21.85 2011 Africa
 Nepal 34.07 2011 Asia
 Netherlands 65.9 2011 66.23 2011 Europe
 New Zealand 33.7 2011 est. 37.04 2011 Oceania
 Nicaragua 70.5 2011 est. 72.03 2011 North America
 Niger 18.94 2011 Africa
 Nigeria 17.6 2011 est. 17.86 2011 Africa
 North Korea 0.4 2007 est. Asia
 Norway 48.9 2010 est. 49.61 2011 Europe
 Oman 3.8 2011 est. 5.06 2011 Asia
 Pakistan 60.1 2011 est. 60.12 2011 Asia
 Panama 41.7 2011 est. 37.83 2011 North America
 Papua New Guinea 22.3 2011 est. Oceania
 Paraguay 17.4 2011 est. 13.66 2011 South America
 Peru 21.7 2011 est. 21.64 2011 South America
 Philippines 49.4 2011 est. 40.47 2011 Asia
 Poland 56.3 2011 55.39 2011 Europe
 Portugal 108.5 2011 106.79 2011 Europe
 Qatar 8.9 2011 est. 31.48 2011 Asia
 Republic of the Congo 22.17 2011 Africa
 Romania 33.3 2011 32.96 2011 Europe
 Russia 8.7 2011 est. 9.60 2011 Asia/Europe
 Rwanda 23.43 2011 Africa
 Saint Kitts and Nevis 200.0 2011 est. 153.41 2011 North America
 Saint Lucia 77.0 2010 est. 71.95 2011 North America
 São Tomé and Príncipe 74.43 2011 Africa
 Saudi Arabia 9.4 2011 est. 7.52 2011 Asia
 Senegal 33.2 2011 est. 40.62 2011 Africa
 Serbia 39.5 2010 est. 47.89 2011 Europe
 Seychelles 46.2 2011 est. 83.02 2011 Africa
 Sierra Leone 59.96 2011 Africa
 Singapore 118.2 2011 est. 100.79 2011 Asia
 Slovakia 43.5 2011 44.63 2011 Europe
 Slovenia 48.5 2011 47.31 2011 Europe
 Solomon Islands 22.64 2011 Oceania
 South Africa 35.6 2011 est. 38.77 2011 Africa
 South Korea 33.3 2011 est. 34.14 2011 Asia
 Spain 69.3 2011 68.47 2011 Europe
 Sri Lanka 78.5 2011 est. 78.2 Asia
 St. Vincent and Grenadines 90.0 2010 est. 71.41 2011 North America
 Sudan 100.8 2011 est. 73.14 2011 Africa
 Suriname 20.57 2011 South America
 Swaziland 17.53 2011 Africa
 Sweden 38.4 2011 37.44 2011 Europe
 Switzerland 38.7 2010 est. 35.0 2011 Europe
 Syria 34.4 2011 est. Asia
 Taiwan 34.9 2011 est. 40.80 2011 Asia
 Tajikistan 35.35 2011 Asia
 Tanzania 36.9 2011 est. 44.39 2011 Africa
 Thailand 40.5 2011 est. 41.69 2011 Asia
 Togo 30.84 2011 Africa
 Trinidad and Tobago 31.7 2011 est. 32.35 2011 North America
 Tunisia 51.8 2011 est. 42.41 2011 Africa
 Turkey 42.4 2011 est. 39.44 2011 Asia/Europe
 Turkmenistan 15.35 2011 Asia
 Uganda 25.0 2011 est. 29.22 2011 Africa
 Ukraine 44.8 2011 est. 36.50 2011 Europe
 United Arab Emirates 43.9 2011 est. 16.89 2011 Asia
 United Kingdom 86.8 2012 82.50 2011 Europe
 United States 105.5 2012 est. 102.94 2011 North America
 Uruguay 51.0 2011 est. 54.19 2011 South America
 Uzbekistan 7.7 2011 est. 9.10 2011 Asia
 Venezuela 36.3 2011 est. 45.50 2011 South America
 Vietnam 57.3 2011 est. 37.97 2011 Asia
 Wallis and Futuna 5.6 2004 Oceania
 Yemen 37.2 2011 est. 42.52 2011 Asia
 Zambia 27.3 2011 est. 26.07 2011 Africa
 Zimbabwe 230.8 2011 est. 70.33 2011 Africa

4 posted on 12/26/2012 8:26:12 PM PST by SeekAndFind
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To: SeekAndFind

The only reason we haven’t collapsed yet is everybody is equally screwed up and everybody owes everybody else.

BTW, North Korea has the best debt to GDP ratio? Really? Wow!


5 posted on 12/26/2012 8:39:48 PM PST by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: SeekAndFind

Bump


6 posted on 12/26/2012 9:54:42 PM PST by kanawa (FB-- Save George Zimmerman from racial onslaught)
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To: SeekAndFind

bkmk


7 posted on 12/26/2012 10:10:38 PM PST by Sergio (An object at rest cannot be stopped! - The Evil Midnight Bomber What Bombs at Midnight)
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To: SeekAndFind
Canada better get prepared because I see millions of US citizens fleeing for better economic conditions just like they did from Communist East Germany. Sadly I could see President for Life and Great Dictator Obama following the tradition of other repressive Marxist regimes and erecting a wall to keep US citizens from fleeing
8 posted on 12/27/2012 6:21:54 AM PST by The Great RJ
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To: The Great RJ

RE: Canada better get prepared because I see millions of US citizens fleeing for better economic conditions just like they did from Communist East Germany.

I don’t see how adding thousands more to the already strained FREE Canadian healthcare system (when many of their sick are already flocking to the USA for treatment they can’t get at home) is going to be good for Canada OR the USA.


9 posted on 12/27/2012 6:28:55 AM PST by SeekAndFind
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To: The Great RJ
...erecting a wall to keep US citizens from fleeing.

Google 'FATCA'. The wall is already up - no thanks to our friendly neighborhood Republicans.

10 posted on 12/27/2012 6:39:16 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: SeekAndFind

Actually, I see a net gain for Canada as the first to flee the USA will be the most productive. We’ll just have to be sure to slam the door on the parasite class.

BTW our immigration system gives preference to Americans who hold professional credentials or have capital to start a business. And our corporate taxes are lower.


11 posted on 12/27/2012 7:09:13 AM PST by Squawk 8888 (True North- Strong Leader, Strong Dollar, Strong and Free!)
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To: Squawk 8888

Canada is very dependent upon the United States for any number of things, both economic and geopolitical. I wouldn’t crow too loudly or too long about the rise of Canada at US expense. If we go down we’re dragging you right behind us.


12 posted on 12/27/2012 7:15:50 AM PST by RegulatorCountry
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To: SeekAndFind

I hate to pop your bubble but what you posted is pure b.s. I am no fan of public health but it does work and few canadians are anxious to run down south to pay untold thousands of dollars for a procedure covered at home by their healthcare package.


13 posted on 12/27/2012 7:52:43 AM PST by albertabound
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To: albertabound

I imagine it works fine if you’re willing to wait and are authorized by whatever faceless committee there is to get the procedure done. How does it work out for the old folks, the obese, and the handicapped? It looks like it doesn’t work out too well for them in Great Britain. Hopefully Canada’s better.


14 posted on 12/27/2012 7:57:12 AM PST by Future Snake Eater (CrossFit.com)
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To: RegulatorCountry

There’s no question that our economic fortunes are tied to those of the USA; that’s one of the reasons we’re looking to export more of our resources to Asia. Proximity to the Yanks has done wonders for us, but anything to broaden our markets is a good thing.


15 posted on 12/27/2012 8:04:24 AM PST by Squawk 8888 (True North- Strong Leader, Strong Dollar, Strong and Free!)
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To: albertabound

RE: few canadians are anxious to run down south to pay untold thousands of dollars for a procedure covered at home by their healthcare package.

“Few” and “many” are relative numbers. Read my post again, I did not post a number. I said MANY and THAT is true and MOST DEFINITELY NOT BS.

If you’re happy with Canada has to offer, nobody is telling you to leave for the USA. But the fact is MANY are still coming to the USA.

SEE HERE FOR INSTANCE (just one of the many articles out there ):

http://www.freep.com/article/20090820/BUSINESS06/908200420/Canadians-visit-U-S-get-health-care

Hospitals in border cities, including Detroit, are forging lucrative arrangements with Canadian health agencies to provide care not widely available across the border.

Agreements between Detroit hospitals and the Ontario Ministry of Health and Long-Term Care for heart, imaging tests, bariatric and other services provide access to some services not immediately available in the province, said ministry spokesman David Jensen.

The agreements show how a country with a national care system — a proposal not part of the health care changes under discussion in Congress — copes with demand for care with U.S. partnerships, rather than building new facilities.

Michael Vujovich, 61, of Windsor was taken to Detroit’s Henry Ford Hospital for an angioplasty procedure after he went to a Windsor hospital in April. Vujovich said the U.S. backup doesn’t show a gap in Canada’s system, but shows how it works.

“I go to the hospital in Windsor and two hours later, I’m done having angioplasty in Detroit,” he said. His $38,000 bill was covered by the Ontario health ministry.

Dany Mercado, a leukemia patient from Kitchener, Ontario, is cancer-free after getting a bone marrow transplant at the Barbara Ann Karmanos Cancer Institute in Detroit.

Told by Canadian doctors in 2007 he couldn’t have the procedure there, Mercado’s family and doctor appealed to Ontario health officials, who agreed to let him have the transplant in Detroit in January 2008.

The Karmanos Institute is one of several Detroit health facilities that care for Canadians needing services not widely available in Canada.

Canada, for example, has waiting times for bariatric procedures to combat obesity that can stretch to more than five years, according to a June report in the Canadian Journal of Surgery.

As a result, the Ontario Ministry of Health and Long-Term Care in April designated 13 U.S. hospitals, including five in Michigan and one more with a tentative designation, to perform bariatric surgery for Canadians.

The agreements provide “more immediate services for patients whose health is at risk,” Jensen said.

Three Windsor-area hospitals have arrangements with Henry Ford Hospital, Detroit, to provide backup, after-hours angioplasty. Authorities will clear Detroit-Windsor Tunnel traffic for ambulances, if necessary. The Detroit Medical Center also provides Canadians complex trauma, cancer, neonatal and other care.

“In the last few years, we’ve seen more and more Canadian patients,” said Dr. J. Edson Pontes, senior vice president of international medicine at the DMC. They include Canadians such as Mercado, whose care is reimbursed by Canada’s health system, as well as people who pay out of pocket to avoid waiting in Canada.

Pontes declined to give revenue figures for the DMC’s international business, but said the program “always has been a profitable entity.” About 300 of the DMC’s 400 international patients last year came from Canada, he said.

Tony Armada, chief executive officer of Henry Ford Hospital, said the hospital received $1 million for cardiac care alone.

Critics of a health care system like Canada’s — a publicly funded system that pays for medically necessary care determined by provinces — often cite gaps in Canada’s care to argue that the United States should not allow its current debate over health care to move it to a socialized system.

No plan currently under discussion in Congress calls for a universal plan like Canada’s, but opponents fear socialized medicine, anyway.

Canada’s U.S. backup care “speaks volumes to why we don’t need government to take over health care,” Scott Hagerstrom, the state director in Michigan for Americans for Prosperity, said of the Canadian arrangements with Michigan hospitals. “Their system doesn’t work if they have to send us their patients.”

But Dr. Uwe Reinhardt, a Princeton University health economist who has studied the U.S. and Canadian health systems, said arrangements with cities like Detroit “are a terrific way to manage capacity” given Canada’s smaller health care budget.

“This is efficient,” he said. “At least in Canada, you don’t worry about going broke to pay for health care. You do here.”

Pat Somers, vice president of operations at Windsor’s Hotel-Dieu Grace Hospital, one of the hospitals that sends patients to Henry Ford, said the issue of finding ways to pay for and prioritize care requests is not in only Windsor.

“The ministries are quite aware of” waits for care in Sarnia and Hamilton, she said. “That’s why we are investing in a wait list strategy” to best determine how to prioritize cases for people who need hip and knee replacements, cataract surgery and treatment for cancer, for example.

Mercado, 26, faced a longer wait because he could not find a matching blood donor, even though his family conducted a broad search.

He said doctors told him money was limited for transplants, particularly ones using unmatched donors, which are riskier.

After his family’s doctor wrote the Ontario ministry, the agency agreed to pay $200,000 for the operation.

The family, their church and Mercado’s school, Conestoga College in Kitchener, raised another $51,000 to cover expenses going back and forth to Detroit.

“I think of this every day as a gift from God,” Mercado said.

___________________

RE: I am no fan of public health but it does work

So if it works, why are you not a fan? YOU OUGHT TO BE.

If it works, why not keep it and recommend it to the USA?


16 posted on 12/27/2012 8:09:35 AM PST by SeekAndFind
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To: albertabound

SOURCE: http://ca.news.yahoo.com/blogs/canada-politics/fraser-institute-report-claims-thousands-left-canada-medical-191456748.html

EXCERPT:

Fraser Institute is stirring the pot with a new report that claims that 46,169 Canadians left the country to get medical treatment elsewhere in 2011.

“In some cases, these patients needed to leave Canada due to a lack of available resources or a lack of appropriate procedure [or] technology,” Nadeem Esmail, the author notes in his report.

“In others, their departure will have been driven by a desire to return more quickly to their lives, to seek out superior quality care, or perhaps to save their own lives or avoid the risk of disability. Clearly, the number of Canadians who ultimately receive their medical care in other countries is not insignificant.”

The report buoys the argument of two Alberta men who are taking Alberta’s private healthcare ban to court.

On Tuesday, the National Post reported that former Wildrose Party candidate John Carpay is representing the two men who say they paid thousands of dollars for surgery in the United States because the wait was too long in Alberta. The province then refused to reimburse them because the procedures were available at home.

“We’re saying the current model forces people to suffer in pain on waiting lists and sometimes risk death,” Carpay told the Post.

________________

See the number in 2011? 46,169.

That may be few to you compared to over 30 million Canadians but for these people, that’s 46,169 too many.


17 posted on 12/27/2012 8:15:49 AM PST by SeekAndFind
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To: qam1
Who would loan North Korea a penny? That country came into existence broke - they're a modern day horror show.
18 posted on 12/27/2012 1:05:37 PM PST by GOPJ (It's not possible to be a Progressive and not be a hypocrite. Freeper TigersEye.)
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To: Future Snake Eater

Yeah...I’m not sure you understand how our health care system works. Yes, you have to wait, but there are no death panels here. Everyone gets the same standard of care. The doctors and patients decide on the care. Yep, sometimes you have to push your doctor to get you the tests you need, but not usually.


19 posted on 12/28/2012 12:36:30 PM PST by AntiKev ("Within the strangest people, truth can find the strangest home." - Great Big Sea - Company of Fools)
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To: AntiKev

Who controls the funds? Someone has to make the decision as to whether a person is going to have money spent on their care and how much will be spent.


20 posted on 12/28/2012 5:12:30 PM PST by Future Snake Eater (CrossFit.com)
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