Big government central-planning: Health Care – teetering and out of control.

Michael Snyder of The Economic Collapse blog (excerpts):

At this point, our health care system is a complete and total disaster. Health care costs continue to go up rapidly, the level of care that we are receiving continues to go down, and every move that our politicians make just seems to make all of our health care problems even worse. In America today, a single trip to the emergency room can easily cost you $100,000, and if you happen to get cancer you could end up with medical bills in excess of a million dollars. Even if you do have health insurance, there are usually limits on your coverage, and the truth is that just a single major illness is often enough to push most American families into bankruptcy.”

“At the same time, hospital administrators, pharmaceutical corporations and health insurance company executives are absolutely swimming in huge mountains of cash. Unfortunately, this gigantic money making scam has become so large that it threatens to collapse both the U.S. health care system and the entire U.S. economy.”

The following are 50 signs that the U.S. health care system is a massive money making scam that is about to collapse…

#1 Medical bills have become so ridiculously large that virtually nobody can afford them. Just check out the following short excerpt from a recent Time Magazine article. One man in California that had been diagnosed with cancer ran up nearly a million dollars in hospital bills before he died…

By the time Steven D. died at his home in Northern California the following November, he had lived for an additional 11 months. And Alice had collected bills totaling $902,452. The family’s first bill — for $348,000 — which arrived when Steven got home from the Seton Medical Center in Daly City, Calif., was full of all the usual chargemaster profit grabs: $18 each for 88 diabetes-test strips that Amazon sells in boxes of 50 for $27.85; $24 each for 19 niacin pills that are sold in drugstores for about a nickel apiece. There were also four boxes of sterile gauze pads for $77 each. None of that was considered part of what was provided in return for Seton’s facility charge for the intensive-care unit for two days at $13,225 a day, 12 days in the critical unit at $7,315 a day and one day in a standard room (all of which totaled $120,116 over 15 days). There was also $20,886 for CT scans and $24,251 for lab work.

#2 This year the American people will spend approximately 2.8 trillion dollars on health care, and it is being projected that Americans will spend 4.5 trillion dollars on health care in 2019.

#3 The United States spends more on health care than Japan, Germany, France, China, the U.K., Italy, Canada, Brazil, Spain and Australia combined.

#4 If the U.S. health care system was a country, it would be the 6th largest economy on the entire planet.

#5 Back in 1960, an average of $147 was spent per person on health care in the United States. By 2009, that number had skyrocketed to $8,086.

#6 Why does it cost so much to stay in a hospital today? It just does not make sense. Just check out these numbers

In 1942, Christ Hospital, NJ charged $7 per day for a maternity room. Today it’s $1,360.

#7 Approximately 60 percent of all personal bankruptcies in the United States are related to medical bills.

#8 One study discovered that approximately 41 percent of all working age Americans either have medical bill problems or are currently paying off medical debt.

#9 The U.S. health care industry has spent more than 5 billion dollars on lobbying our politicians in Washington D.C. since 1998.

#10 According to the Association of American Medical Colleges, the U.S. is currently experiencing a shortage of at least 13,000 doctors. Unfortunately, that shortage is expected to grow to 130,000 doctors over the next 10 years.

#11 The state of Florida is already dealing with a very serious shortage of doctors

Brace yourself for longer lines at the doctor’s office.

Whether you’re employed and insured, elderly and on Medicare, or poor and covered by Medicaid, the Florida Medical Association says there’s a growing shortage of doctors — especially specialists — available to provide you with medical care.

And if the Florida Legislature goes along with Gov. Rick Scott’s recommendation to offer Medicaid coverage to an additional 1 million Floridians — part of the Affordable Care Act that takes effect next January — the FMA says that shortage will only get worse.

#12 At this point, approximately 40 percent of all doctors in the United States are 55 years of age or older.

Source50 Signs that the U.S. Health Care System is about to Collapse

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America needs a new plan, one that puts American families back in control of their own healthcare decisions – not the government, and not the insurance companies.

America needs a plan that will provide families with Medical Savings Account (MSA) resources to accomplish that.

The Leviticus 25 Plan.

 

After 4 years and trillions of Dollars in Fed-generated liquidity: Food stamps – “UP to an all-time record.” Foreclosure activity up strong in certain major markets. Velocity of M2 Money Stock – “Dropping like a rock.”

Food stamp nation:                                                                                                         Nov 2012 (3-month delayed report): 47.7 million Americans on Food Stamps up 141,000 recipients from prior month.

Nov 2012 Total U.S. households on Food Stamps:  an all-time record 23,017,768 (at $281.21 / household / month).   ZeroHedge 2-11-13

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Foreclosure activity across the U.S.:                                                                          RealtyTrac (Jan 17, 2013) has reported that “a total of 2,304,941 foreclosure filings — default notices, scheduled auctions and bank repossessionswere reported on 1,836,634 U.S. properties in 2012.”                                                                         That is down slightly (3%) from 2011 and down more significantly from the peak year, 2010.  It was also noted that during 2012, 1 out of every 72 housing units in the U.S. received at least one foreclosure filing during the year.

Foreclosure activity in 2012 increased from 2011 in 25 states — 20 of  which primarily use the longer judicial foreclosure process — including  New Jersey (55 percent increase), Florida (53 percent increase),  Connecticut (48 percent increase), Indiana (46 percent increase),  Illinois (33 percent increase) and New York (31 percent increase).”

 And how is the new year starting out?

RealtyTrac (Feb 14, 2013) reports that for January 2013, “foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on [an additional] 150,864 U.S. properties in January.                                                                That is down 7% from December 2012.

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On the liquidity front, the Fed is pumping it out at a current rate of $85 billion per month.   And Velocity of M2V is dropping like a rock:  View here 1959 – 2012

The big-government central-planning approach is not working.                                         A new approach is needed.

The Leviticus 25 Plan

Fed QE flows – primarily going to foreign banks. Along with ‘billions’ in interest.

Source:  Zero Hedge 2/11/13:  “How The Fed Is Handing Over Billions In “Profits” To Foreign Banks Each Year

Fed QE flows over the past 4 years, dating back to March 2009, show that foreign banks have been the primary recipients of “cash generated by Fed excess reserves.”

Small domestic banks and large domestic bank cash reserves have been flat to modestly higher (a ‘steady’ $800 billion) over the 4-year period, while “Foreign Banks” have nearly doubled their cash reserves during that same time – from the newly created reserves.

This was confirmed by the Fed itself, which in a paper from November 2012, admitted just this when it said that “the recent unprecedented build-up of cash balances by [foreign banks] was almost entirely composed of excess reserves.”

And where does this “foreign bank” cash ‘park itself?’ 

Answer:  These foreign bank excess cash reserves are parked at “Reserve Banks” – currently about $954 billion, earning 0.25% interest (which the Fed decided to start paying out in December 2008).

The “Fed paid some $6 billion in interest to foreign banks, in the process subsidizing and keeping insolvent European and other foreign banks, in business and explicitly to the detriment of countless US-based banks who have to compete with Fed-funded foreign banks and who have to fire countless workers courtesy of this Fed subsidy to foreign workers.”

“From December 2008 through the last week of January [2013], the Fed has paid out some $6 billion in cash (red line) to European banks simply as interest on excess reserves:”

“But that’s just the beginning. If we are correct in assuming that QE3 will be a replica of QE2 when all the new reserves created ended up as cash on foreign bank balance sheets, it means that we can quite accurately forecast what the total foreign bank cash position will be on December 31, 2013 (as the Fed will certainly not end its open ended monetization of the US deficit before then, or likely, ever). The result: just under $2 trillion in cash held by foreign banks operating in the US, which also means that in calendar 2013, the Fed will fund and subsidize foreign banks a blended interest payment of $3.5 billion! This is entirely separate from the $2 trillion liquidity subsidy that Bernanke will also have handed out to keep these banks afloat, and is $3.5 billion that will flow right through the P&L and end up in the pockets of offshore shareholders who otherwise would very likely be wiped out had it not been for the Fed’s relentless efforts to bailout foreign banks.”

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If foreign banks are deserving of Federal Reserve-generated liquidity flows, then U.S. citizens are equally deserving.

It is time for U.S. citizens themselves to move to the head of the line – and receive their own credit extensions direct from the Federal Reserve.

The Leviticus 25 Plan.