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Old 06-16-2008, 10:50 AM
 
Location: Raleigh, NC
9,043 posts, read 12,044,294 times
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If he's the Federal Reserve Chairman, why is addressing issues outside his scope of price stability and monetary policy?

Better healthcare a challenge: Bernanke - Jun. 16, 2008 (broken link)
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Old 06-16-2008, 11:03 AM
 
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Simple answer to heath care. Stop giving it to illegals.
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Old 06-16-2008, 11:11 AM
 
Location: Raleigh, NC
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Quote:
Originally Posted by Driller1 View Post
Simple answer to heath care. Stop giving it to illegals.
I agree 110%.

Also, dump Medicare, return to cash only for simple services to reduce prices. No more co-pays for routine visits. Reduce stupid regulations that cover doctor's butts and require unnecessary procedures that only marginally reduce risks. Tort reform. Jail or execute those reponsible for retroactive denials that are the cause for a covered insuree's death by charging them with manslaughter or murder.
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Old 06-16-2008, 11:17 AM
 
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My friends in the medical field all say millions could be saved by a simple thing. One standard heath care form. They all ask the same questions, need the same information, yet all insurance companies have their own form. Look at the money that could be saved by copying one form.
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Old 06-16-2008, 11:49 AM
 
Location: western East Roman Empire
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Quote:
Originally Posted by ViewFromThePeak View Post
If he's the Federal Reserve Chairman, why is addressing issues outside his scope of price stability and monetary policy?
Apparently because they invited him to speak. From the reported remarks, it appears that he said nothing substantial.

By the way, the Fed has a dual mandate, including growth as well as price stability. It has basically favored the former over the latter in recent years.

You know, at the start of his second term, Pres. Bush toured the country advocating pension reform and he was basically ignored. Since around that time, growth in the money supply has accelerated significantly.

The US health care system is a complicated hodgepodge and almost no one is bold enough to propose either a single-payer system or a full-blown free market system. The current democratic proposals will exacerbate the hodgepodge and make it more expensive. McCain seems to want to introduce a few more tax credits to buy insurance, maybe put a bit of downward pressure on prices, for which there is no transparency (I would introduce execution for obscuring prices).

In the absence of serious ideas to reform the US government's clearly unsustainable social security and health care programs, one way out is to devalue the real purchasing power of the entitlement payments now and going forward; in other words, accelerating the pace of money supply growth and inflation while incomes remain stagnant or even decline in real terms. This way, the government formally meets its entitlement obligations, but the real value of the services in return will still be commensurate with real productivity, there's no way to get around that.

I hope this makes sense.
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Old 06-16-2008, 12:19 PM
 
Location: America
6,993 posts, read 16,063,164 times
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Quote:
Originally Posted by bale002 View Post
Apparently because they invited him to speak. From the reported remarks, it appears that he said nothing substantial.

By the way, the Fed has a dual mandate, including growth as well as price stability. It has basically favored the former over the latter in recent years.

You know, at the start of his second term, Pres. Bush toured the country advocating pension reform and he was basically ignored. Since around that time, growth in the money supply has accelerated significantly.

The US health care system is a complicated hodgepodge and almost no one is bold enough to propose either a single-payer system or a full-blown free market system. The current democratic proposals will exacerbate the hodgepodge and make it more expensive. McCain seems to want to introduce a few more tax credits to buy insurance, maybe put a bit of downward pressure on prices, for which there is no transparency (I would introduce execution for obscuring prices).


In the absence of serious ideas to reform the US government's clearly unsustainable social security and health care programs, one way out is to devalue the real purchasing power of the entitlement payments now and going forward; in other words, accelerating the pace of money supply growth and inflation while incomes remain stagnant or even decline in real terms. This way, the government formally meets its entitlement obligations, but the real value of the services in return will still be commensurate with real productivity, there's no way to get around that.

I hope this makes sense.
From my understanding (I have not fully researched this). Health Care cost are high not because of illegals (has a previous poster tried to state) but because of all the paperwork and "hodgepodge" system we have.

I like Obama's plan which supposedly will include creating a universal database that health care institution's can access. It will cost paper work in half or maybe 75%. I think it is a ingenious plan. they will definitely have to do a universal card of some sort. Maybe tie everyones info to their drivers licenses? I don't know but to me Obama's total plan (not just the universal database) seems more sound than anyone else I have heard from.
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Old 06-16-2008, 01:11 PM
 
24,839 posts, read 34,323,583 times
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Quote:
Originally Posted by Wild Style View Post
From my understanding (I have not fully researched this). Health Care cost are high not because of illegals (has a previous poster tried to state) but because of all the paperwork and "hodgepodge" system we have.

I like Obama's plan which supposedly will include creating a universal database that health care institution's can access. It will cost paper work in half or maybe 75%. I think it is a ingenious plan. they will definitely have to do a universal card of some sort. Maybe tie everyones info to their drivers licenses? I don't know but to me Obama's total plan (not just the universal database) seems more sound than anyone else I have heard from.
It sounds fine, now, paying for it will be the problem.
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Old 06-16-2008, 02:40 PM
 
24,839 posts, read 34,323,583 times
Reputation: 11510
Quote:
Originally Posted by Wild Style View Post
From my understanding (I have not fully researched this). Health Care cost are high not because of illegals (has a previous poster tried to state) but because of all the paperwork and "hodgepodge" system we have.

I like Obama's plan which supposedly will include creating a universal database that health care institution's can access. It will cost paper work in half or maybe 75%. I think it is a ingenious plan. they will definitely have to do a universal card of some sort. Maybe tie everyones info to their drivers licenses? I don't know but to me Obama's total plan (not just the universal database) seems more sound than anyone else I have heard from.
If the heath care of illegals was one dollar, and a US citizen went without, it would be to much.

Last edited by Driller1; 06-16-2008 at 02:52 PM..
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Old 06-16-2008, 04:29 PM
Status: "Retired and happy about it" (set 3 days ago)
 
Location: WA
5,541 posts, read 22,666,666 times
Reputation: 6298
The reason Bernanke has words on health care is in the speech but not in all reports... Health Care commitments (Medicare) will require a very large tax increase, much larger deficit, or both.
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Old 06-17-2008, 02:54 AM
 
Location: western East Roman Empire
8,083 posts, read 11,890,455 times
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Quote:
Originally Posted by cdelena View Post
The reason Bernanke has words on health care is in the speech but not in all reports... Health Care commitments (Medicare) will require a very large tax increase, much larger deficit, or both.
... or hyperinflation, for the moment the path of least resistance (at the least, inflation in health care spending outpaces GDP growth) ... or a magic pill that will cure ailments and make people live longer without the expenditure of massive resources.

Technology may help in the solution. Keeping people healthier and productive longer through better, more efficient life-style choices may also help.

I think I did read in his comments that he suggested a multi-faceted solution, and not a "magic pill".

Overall, I think he was invited to speak also because, in recent years, the Fed chairman has been attributed almost a "god-like" status, so policymakers in other areas seek his opinion on many different types of economic matters.

Another efficient solution to some of the nation's economic problems would be to legislate away the Fed's power the set interest rate and, culturally, strip the chairman of this god-like status. I really don't see these people as the voice of reason, and, at the least, the politicians pay lip service to their advice because they bask in the aura of success, now highly dubious however. Maybe the Bernanke term in office will mark the end of this cultural (and policy) excess.

In their heyday, the members of the Bundesbank had much more credibility, but then again their mandate focused solely on price stability.
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