Malpractice Solutions to Health-Care Costs

                 

We have special courts for bankruptcies where judges handle creditor and debtor claims, tax liens, and workers compensation.

                       

One of the complications that requires change, and proves costly in health care, is malpractice cost. The problems are primarily due to the huge amounts of lawsuits against providers. And fraud that permeates the system.

                                           

The result: The high outlays due to defensive medicine and doctor malpractice insurance premiums.

                       

Yet ObamaCare does nothing to stop this menace.

                       

The practical solution: Arbitration courts made up of judges, trained in science and medicine. That would eliminate awards because of “junk science.”

                       

The courts could eliminate attorney’s award proceeds and put a cap on out-sized sums that ordinarily come from ignorant jurists. While seeing that patients are compensated for actual malpractice. Courts would be financed from doctor insurance premiums. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Supposed Independent Central Banks

                    

Central banks are supposed to be completely independent. The European Central Bank or ECB took this position until recent years. Going back to the Greece, Irish, and related European Union bailouts, the central bank no longer is an independent vehicle.

                       

In Great Britain, the Bank of England is a centuries older counterpart. The BOE, too, has always been entrusted with being an independent, non-political, overseer of the British pound. But the BOE now is also in direction-management activity.

                       

Americans are no better off. The Federal Reserve slowly but surely lost its independence, as I have commented over recent years. These days, it’s become political, arm-in-arm with administration fiscal policy. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Poor-Achievement College-Degree Jobs

                   

I often review college problems and see whether many students actually ought to be attending.

                       

I suggest reading "Going Broke by Degree: Why College Costs Too Much," by Richard Vedder and "Faculty Lounges and Other Reasons and also Why You Won't Get the College Education You Paid For." by Naomi Schafer Riley. They have been around a Couple of years but should be constantly reread.

                       

In the Vedder book, for instance, you learn that two out of five students entering four-year study programs don't achieve a bachelor's degree after the sixth year. And that colleges accept these students because of the money they bring, usually government-guaranteed loans.

                       

Comments are quite instructive; you will learn why it appears so many of our Ivy-League graduates appear to be far dumber than ordinary plain-vanilla grads of the not-so-distant past.

                                           

Another example of college being useless: Vedder states there are 80,000 bartenders in the U. S. with bachelor's degrees, and17% of baggage porters and bellhops have college degrees, along with 15% of taxi/ limo drivers. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

What’s Certain, Real Economic Growth Assistance?

                    

There is a major difference between a dollar “invested” by government and a dollar invested by private industry.

Politicians, however, often believe that they’re the same. That it’s better if government makes the decision to spend. Or as the administration says, “invest,” as opposed to private enterprise doing the function.

                       

The government allocation is made by a political decision. That is often subject to pressures which have nothing to do with supply and demand. Rationing and corruption are bound to follow. The other, privately imposed decision is, however, more likely to conform to what the public wants.

                       

Moreover, private industry investment has a multiplier effect, while

government spending does not. Government jobs have no leverage impact on the economy. Their purpose often has mere political, social and environmental intentions.

                       

Governments do not innovate and create new companies and multiples of jobs. Nor do they enervate the needed psychology of a booming economy. Psychological effect is most important. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Misleading Unemployment Figures

We are getting unemployment reports that have little to do with true unemployment. It’s yet another case of government  chicanery that the executives of a private enterprise would be arrested for.

                       

Right now the unemployment rate supposedly hovers around 5%. The media tells us so, and they are out to report on all the dirt they can find, or so they say.

                       

But if you look deeper, U-6 unemployment, which includes folks who are underemployed and seeking full-time jobs that they can't find, that unemployment rate is much beyond that reported, and is growing.

                       

Furthermore, the number doesn't include those who have given up seeking work.The fewer seeking jobs, the rosier the stated

unemployment figure. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Overlooked Economic Politics

                 

When one political side says it will severely cut spending a few years in the future but in the meantime takes current funds from tax sources, and keeps on spending, you know that one of the two bargainers has just been cheated.

                       

Fact: No politician has ever followed through on promises made years earlier to cut budgets. All negotiated deals of this kind have always been decided in favor of the big government spenders and taxers.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

“Smarter” Stock Brokers?

                        

There’s been pressure in the to find out the financial exam marks of stock brokers. But why worry about the subject?

                       

Investors shouldn’t be relying on stock brokers for advice anyway. The education brokers get is essentially on back office procedure and not deep securities analysis. And even if it were, info would be useless.

                       

For instance, most of the more experienced mutual fund managers do a bad job compared to indexed funds or ETFs. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Poll Results to Suit the Sponsors

Before you believe a political, business or scientific poll, ask yourself: Who pays for or sponsors it? They can affect the results.

                                           

Poll samples can be selected to give different results. Questions can be posed to produce preferred answers. Demographics can be altered to assure outcomes. And interpretations can be subjective.

                       

Sponsorship, for that matter, can also influence the results of research. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Public Union Pension Myths

                    

One reason why most state budgets are out of control is attributed to union-contracted, public employees pensions.

                       

These unions continue to feel optimistic about the ability of their pensions to accommodate their coming obligations by earning more on their investments than they did in the past.

                       

Unions find it easy to be optimistic about future returns on investments, far much higher than what market observers consider possible,  in the light of our budget deficits and their effects on investment markets. And also prospective future inflation. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Crazy Dodd-Frank Regulations

                   

I take particular issue with the Dodd-Frank Act with its hundreds of provisions, which have had so many countless unforeseen negatives.

                                           

Such as forcing the banks “too big to fail” to keep adding to capital. This makes them less profitable, when they must be able to attract necessary capital, in order to finance a thriving world-wide economy.

                       

Moreover, this is foolish when capital cushions can be wiped out overnight whenever banks must mark-to-market their assets in poor markets, as in 2008. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Job Resume Suggestions

              

Job resume suggestions generally involve what not to mention. So many job applicants add superfluous information which helps impede the essential message.

                       

It’s important that everything, particularly your educational background, be truthful. Topics such as the salary you’re seeking ought to be left off the resume. That question should come up only if the interviewer decides to ask about the subject during the first interview.

                       

Your hobbies can be listed only if they specifically apply to the work you’re to do.

Your photo is not required and is generally left out unless your

appearance is a prime aspect of the job.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Business Management by Government

                    

We have the perfect example of how government manages to handle politics when General Motors decided to close dealerships after the government took it over.

                       

Closed dealers contacted their congressmen and senators, and the orders were then mostly rescinded, by political influence.

                       

Valid business decisions became arbitrary. The exact opposite the administration promised would never happen, when it took over GM control.

                       

Politicians need voters; they cater to voter pressures. That means private industry employees will lose out to political influences over

time.

                                           

Business people need profits and do what they must to get them, or they go bankrupt. Bankruptcy resolves problems. Otherwise those difficulties fester for years at taxpayer expense, as they do under government control.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)