Tue, 12 Feb 2013, 11:09pm PST
In reference to health care costs, the president claims "medical bills shouldn't be based on the number of tests ordered or days spent in the hospital – they should be based on the quality of care that our seniors receive."
Mish says good luck with charging healthcare based on quality, because quality is impossible to define.
I guess Mish has read literally nothing about health care.
Our model, in most of the US compensates practitioners (both doctors and hospitals) on the number of expensive tests and procedures done.
THere are other models that look more at outcomes, and aren't incentivized by amount spent. Even within this country there is significant variance with this.
Obama says we can hit deficit targets and "save hundreds of billions of dollars by getting rid of tax loopholes and deductions".
Mathematically speaking, one cannot save a dime by closing loopholes. Closing loopholes may be more fair, but that has nothing to do with "saving money". Rather, closing loopholes simply spreads costs around in a different fashion.
Wtf are you talking about ? He means bringing more revenue in. Are you really going to waste that many words on the semantics of the word "saving."
Jeesh. I would go on, but apparently Mish has never seen a state of the union speech either.
"Hot Air and No Substance"
I know Mish. You're disappointed that with the fragile economy, still in depression, Obama won't talk up a plan for economy killing austerity, which would not lower the deficit much.
I still say, where were you bold anti Keynesians when the economy was booming ? Because that's when spending should be watched, and taxes revenue should not have been redirected to the rich.
Tue, 12 Feb 2013, 11:21pm PST
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I listend to the SOTU on the radio last night, and it was making my skin crawl, all of the cheering and jeering over all the nonsense and the lies.
But what stuck out to me the most, is bamas fundamental misunderstanding about the way things work. Shortly after cheering on housing getting more expensive, he vowed to raise the minimum wage to 9$/hr, and rambled on about all the benefits LOL (talk about out of touch with reality). What followed was a sad display of his confusion as to the way things work, as he went on to say that he wants to "tie minimum wage to the cost of living" so that people could afford a better quality of life. Sorry there silly head, but the cost of living is derived from wages, not the other way around, and with our monopolistic system of rent seeking, any raise in wages will be met with a rise in cost of living, seeing as how the "cost of living" is always the maximum the market will bare.
The whole closing meme about gun control and the towns where the tragedys happened deserving a vote, coupled with all the other bullshit, left me hungry enough to eat a gotdam bullet