Tag Archives: Costs

Your life under the Green New Deal, by Robert

The Green New Dealers think it’s just a matter of passing the right laws and presto, we’ll be living in an environmental paradise. Like every other liberal pipe dream, this will end in disaster. From Robert at iceagenow.info:

Green New Dealers would bring our country its knees – except that they would get more money, power and control.
Please, please, please, you must read this.

Locking our nation’s abundant coal, oil, natural gas and petroleum liquids in the ground would have far-reaching impacts that have (deliberately?) received little media attention.
The GND would control and pummel the jobs, lives, living standards, savings, personal choices and ecological heritage of rural, poor, minority, elderly and working classes.
_____________

“Joe Biden doesn’t want to tell us whether he supports single-payer nationalized healthcare, packing the Supreme Court or eliminating the Senate filibuster,” writes Paul Driessen. “However, he has been open and consistent about supporting the Green New Deal, which would completely replace America’s fossil fuels with “clean, green” electricity and biofuel energy by 2035.”

“He and other GND proponents want us to believe this can be done quickly, easily, affordably, ecologically, sustainably and painlessly. My article this week presents the facts about what this “total energy and economic transformation” would actually do. It’s all pain for no gain.”

Continue reading→

 

Skyrocketing Costs Will Pop All the Bubbles, by Charles Hugh Smith

The rising costs that never seem to register in the CPI are for the biggest items in many Americans’ budgets, and their incomes keep falling further behind. From Charles Hugh Smith at oftwominds.com:

The reckoning is coming, and everyone who counted on “eternal growth of borrowing” to stave off the reckoning is in for a big surprise.

We’ve used a simple trick to keep the status quo from imploding for the past 11 years: borrow whatever it takes to keep paying the skyrocketing costs for housing, healthcare, college, childcare, government, permanent wars and so on.

The trick has worked because central banks pushed interest rates to zero,lowering the costs of borrowing more as costs continued spiraling higher.

But that trick has been used up. The next step–negative interest rates–has failed to spark the “growth” required to pay for insanely overpriced housing, healthcare, college, childcare, government, etc.

We’ve reached the end of the line on lowering interest rates as a way of borrowing more to keep our heads above water. We’ve reached the point where households and enterprises can’t even afford the principle payments, i.e. no interest at all.

Continue reading

The So-Called War on Terror Has Killed Over 801,000 People and Cost $6.4 Trillion: New Analysis, by Jessica Corbett

The direct and indirect costs of the war on terror have been staggering. From Jessica Corbett at commondreams.org:

“The numbers continue to accelerate, not only because many wars continue to be waged, but also because wars don’t end when soldiers come home.”

A U.S. Army soldier fires an M4 carbine rifle

A U.S. Army soldier fires an M4 carbine rifle during partnered live fire range training at Tactical Base Gamberi, Afghanistan on May 29, 2015. (Photo: Capt. Charlie Emmons/U.S. Army/Flickr/cc)

The so-called War on Terror launched by the United States government in the wake of the Sept. 11, 2001 attacks has cost at least 801,000 lives and $6.4 trillion according to a pair of reports published Wednesday by the Costs of War Project at Brown University’s Watson Institute for International and Public Affairs.

“The numbers continue to accelerate, not only because many wars continue to be waged, but also because wars don’t end when soldiers come home,” said Costs of War co-director and Brown professor Catherine Lutz, who co-authored the project’s report on deaths.

“These reports provide a reminder that even if fewer soldiers are dying and the U.S. is spending a little less on the immediate costs of war today, the financial impact is still as bad as, or worse than, it was 10 years ago,” Lutz added. “We will still be paying the bill for these wars on terror into the 22nd century.”

Continue reading→

Explaining the High Cost of US Health Care: No Skin in the Game, by Mike Mish Shedlock

Here’s a radical idea. Why not try the same system for health care and medical insurance that brings you a superabundance of reasonably priced groceries at any one of thousands of grocery and superstores: the free market. We’ve tried everything else and all we have is a gigantic mess. From Mike Mish Shedlock at moneymaven.io:

Costs are expensive because there is almost no skin in the game. Graft has taken over.

The Wall Street Journal has an interesting article on healthcare: Why Americans Spend So Much on Health Care—In 12 Charts.

The U.S. spends more per capita on health care than any other developed nation. It will soon spend close to 20% of its GDP on health—significantly more than the percentage spent by major Organization for Economic Cooperation and Development nations.

What is driving costs so high? As this series of charts shows, Americans aren’t buying more health care overall than other countries. But what they are buying is increasingly expensive. Among the reasons is the troubling fact that few people in health care, from consumers to doctors to hospitals to insurers, know the true cost of what they are buying and selling.

Contributions to employer-sponsored health coverage aren’t taxed, which makes it less expensive for companies to pay workers with health benefits than wages. Generous benefits lead to higher spending, according to many economists, because employees can consume as much health care as they want without having to pay significantly more out of their own pockets.

The prices of many medicines are hidden because pharmacy-benefit managers—the companies that administer drug benefits for employers and health insurers—negotiate confidential discounts and rebates with drugmakers.

Price Growth Since 2000

Hospitals are becoming more consolidated and are using their market clout to negotiate higher prices from insurers.

Tax Benefits

Contributions to employer-sponsored health coverage aren’t taxed, which makes it less expensive for companies to pay workers with health benefits than wages. Generous benefits lead to higher spending, according to many economists, because employees can consume as much health care as they want without having to pay significantly more out of their own pockets.

The tax benefit is the country’s biggest single income-tax break, costing billions to government revenue.

To continue reading: Explaining the High Cost of US Health Care: No Skin in the Game