Tuesday, June 26, 2012

Conrad Hilton's Success Story

Bob Wenzel explains that it is much better to buy a business than it is to get an MBA, and then uses Conrad Hilton's success story to make the point.  This is what I like best about Wenzel--offering business advice and direction based on sound financial and economic principles and personal experience.  It's highly motivating.



What Is Obamacare?

Dr. Gary North has the ability to put things very succinctly.  On Obamacare, he says  "National health care is the second most important of all government welfare programs. The first is funding education and making it compulsory. But this is generally enforced at the state level in the United States.

Why is government-funded medical care so important? Because it is the symbol of a state that has the power to extend life. It is the supreme agency of healing. Any government that does not pass laws funding and controlling the health care delivery system is seen by the apologists of state power as being inconsistent. A state that cannot heal is not a true god. The modern humanist state presents itself as the final court of appeal. It supposedly possesses final sovereignty."

Four centuries ago, this was called the divine right of kings. That meant that the king was the final court of appeal. There was no one or nothing higher, other than God. Today, the government's position is that there is no God. Therefore, the state is the final sovereign. It is God by default.

A final sovereign must possess the power of life and death. So, we live under the jurisdiction of a welfare-warfare state."

End of quotation.

Obamacare is the nickname given to Patient Protection and Affordable Care Act.  Wikipedia says that it is "a United States federal statute signed into law by President Barack Obama on March 23, 2010."  It continues, "The law (along with the Health Care and Education Reconciliation Act of 2010) is the principal health care reform legislation of the 111th United States Congress."  So Obamacare is a law, and with laws come penalties and rewards.  From a legal standpoint, it states that "PPACA requires individuals not covered by [an] employer-or [by] government-sponsored insurance plans to maintain minimal essential health insurance coverage or pay a penalty unless exempted for religious beliefs or financial hardship, a provision commonly referred to as the individual mandate."  Okay, so here is the gist.  The federal government mandates that you have healthcare whether you want it or not or whether you like it or not.  The federal government assumes that it knows what is best for you, that it has through its steroidal hubris knowledge of you and your body and your energy systems about how they interact more than you, more than the private communication that you have with God in the matter of health.  It assumes authority to make decisions about your life and about your health.  But who has that authority to tell you what to do with your body?  Does your body belong to you or to the federal government?  Does your body belong to God or to the benevolence of the federal government?  Over the last 3 decades, assumptions about what constitutes heart health, brain health, causes of diabetes, and lifestyles and diets that lead to obesity have been put under greater scrutiny, jeopardizing the established opinions supported by the pharmaceutical industry's dollars and educational arms.


I read through a Facebook thread where a couple of law students were debating the benefits of a single payer.

MORAL AND ECONOMIC COSTS OF OBAMACARE
Can't think of anyone better than Ron Paul to start this conversation.  He says, "Third parties, either government agencies themselves or nominally private insurance companies virtually forced upon us by government policies, have not only destroyed doctor-patient confidentiality. They also inescapably drive up costs because basic market disciplines-- supply and demand, price sensitivity, and profit signals-- are destroyed."  What are the moral effects of having confidentiality destroyed?  One, doctors become government agents who rat on their patients to the patients' employers.  Employers, in turn, are granted special privileges to not only snoop into an employee's medical file but then to publish, out of the best interests of the public of course, that information or at least to dangle it over them and to use it to blackmail in bureaucracies where unions purportedly hold management decisions and actions against an employee hostage.



With all of the health crazefederal government says that yoa The Act also reforms certain aspects of the private health insurance industry and public health insurance programs, increases insurance coverage of pre-existing conditions, expands access to insurance to 30 million Americans,[4][5] and increases projected national medical spending[6][7] while lowering projected Medicare spending.  

Start your research on Obamacare here.  
Here is a great reading list that covers Obamacare.

Up next:  Reality Check disputes the meanings of tax, penalty, and price.

Here, Ron Paul describes 4 bills that he sponsored to lower the cost of healthcare; each one died when it got referred to the Congressional Committee.

This was interesting, very interesting.  The young woman raises terrific questions and objections.  Grayson says that Americans don't want death as an option.

Sunday, June 24, 2012

Downtown LA Construction Comes to a Screeching Halt

A terrific analysis by Robert Wenzel on how the economic miscalculations that occur with Federal Reserve money

Here is Bob Wenzel on the Scott Horton Show.

Billionaires by Ruchir Sharma

Billionaires and how they stack against the GDP of their respective countries and what that spells for their and the emerging economies.  Very interesting article by Ruchir Sharma.


Monday, June 4, 2012

Wartime Withholding Taxes

Robert Higgs from the Freeman on wartime with-holdings on taxes

This is a terrific article on withholding taxes that was initiated by Milton Friendman who lamented it later for good reason.