Dr. Gary North has a great article up on LRC today.
His first quote about Detroit housing is very good:
There is no surge of buyers to take advantage of fabulously low prices in Detroit. Can you imagine buying a home for cash for $13,600 in 2009 – a house that had sold for $98,000 six years earlier – and losing half your money? It's incredible.
Then he talks about healthcare, and what the new law will bring...
This brings me to the other subject: the health care law. It is not law yet, but it soon will be.
I know what is going to happen.
1. Cost overruns
2. Fraud
3. Additional coverage extended to groups
4. Rising deficits in the program
5. Lower payments to physicians
6. Lower payments to hospitals
7. Delays in payments
8. Rising taxes on the rich
9. Rationing by doctors, hospitals, government
10. Delays in treatment
11. More HMO care: assembly line medicine
12. A search for scapegoats
Number 12 is the big question, who will the powers that be blame (never themselves.) 1 through 11 is how they will track down and punish those who fit number 12.
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