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http://www.cato.org/pub_display.php?pub_id=11241

This guy is beyond poorly-versed in economic theory

They think they can cut costs by spending more. You can make more money if you spend in the right areas, but you can never cut your costs by spending more. If they can't grasp that, they can't grasp anything.

Well it makes me wonder who is advising Obama. Every legitimate economist this side of the sun has a firm grasp on free markets, exchange, supply and demand, and know that artificial controls on the market lead to failure. Well, except Krugman

Time for Keynesian economics to just go away.

Eric wrote:Well it makes me wonder who is advising Obama. Every legitimate economist this side of the sun has a firm grasp on free markets, exchange, supply and demand, and know that artificial controls on the market lead to failure. Well, except Krugman

Time for Keynesian economics to just go away.

Obama is following a philosophy not any sound economic theory. He believes that everyone should be on the same economic plain. If you are rich, you should give your money to people who don't have enough. It isn't bad in theory, but in practice why would a guy learn to be a doctor if he could make as much by working at Walmart or not working at all. Also history tells us that pure communism (progressiveism, socialism or what ever you want to call it) doesn't not work because the people in power refuse to live like the people who have none. They may make the same money, but the perks are tons better for the "haves" in a communist government.

I have stated my daughter has Diabetes Mellitus type 1. Because of health insurance costs, We keep a $12,000 deductable to afford the cost of the insurance. Employees pay 25% of the cost - the company pays 75%. We have a separate insurance that covers 80% up to $12,000 so that insurance doesn't break the employees. I pay 100% of my health insurance including the first 12,000 for my family. I would love it if someone would pay those bills for me, but it isn't someone elses responsibility, it is mine. When the insurance company decides that my daughter can only have 100 test strips per month and she needs 200 - I have to come out of pocket for the difference. That costs an extra $100.00 a month. Again, my responsibility.

I don't know how to fix health care. I do know that price fixing has never worked, ever, and never will. The people who provide the services need to earn a living and unless you figure out a way to lower their costs, they won't provide their services for less money. Why should they? No one else is standing in line to give back money they earned.

Obama comes from Chicago...the University of Chicago has one of the best economic departments in the country....he should not pick and choose what he wants to believer that comes from his state.

Obama isn't practicing Keynesian Economics. He isn't following Smith!

Super-Libs, like Spence said, seem to be on a philosophy mission! I guess Cuba and the USSR didn't do it right and all the Socialist countries are doing better than we must be seeing. CHina is only doing well because half the jobs in the world got dumped there...something has to give, Communism or Economic Growth that war will be interesting all by itself!

And I again reassert that Obama and all his fellows cannot possibly believe their blabber would actually work, no relatively well educated and experienced person could think that...I do not buy it!!!

The last price controls I remember was under a Republican President. It didn't work then, either.

donovan wrote:The last price controls I remember was under a Republican President. It didn't work then, either.

It doesn't matter who impliments them, they can't work without subsidies - meaning they can't work unless the government takes money from one group and gives it to another group - after they take their cut, of course.

An alternative to pricing fixing and robin hood politics.

http://money.cnn.com/2010/03/04/news/economy/paul_ryan.fortune/?section=magazines_fortune

Everyone knows it will work, but it requires a major loss of power in Washington. Ryan is what all politicians should be.

Spence wrote:An alternative to pricing fixing and robin hood politics.

http://money.cnn.com/2010/03/04/news/economy/paul_ryan.fortune/?section=magazines_fortune

Everyone knows it will work, but it requires a major loss of power in Washington. Ryan is what all politicians should be.

Ditto! Sadly, ditto!