Wednesday, August 12, 2009

Another day another bubble

The Fed and many economists missed the housing bubble. They missed the dot-com bubble. And now are they missing the healthcare bubble? The cost of healthcare has out paced inflation by a factor of 2, and profits are only eclipsed by those in the oil industry. But, just like the housing fiasco, the people fueling the bubble are running out of money; the middle class has already lost a big chunk of their major investment with the housing bust, and are spreading meager earnings to the healthcare and energy industries. Yet the heathcare industry lobbyists own our representatives and will see little to no impact from any plan that emerges. How will it pop? Who will pop with it? The president and economists have told us that it is not sustainable, and they appear to be correct. I can't wait to see how this one ends.

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Dr. D
I'm a professional geologist exiled to Lincoln Nebraska. I hope someday to get down to Kansas City and see the Gateway Arch. Huh? It is? Well hell...
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