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Seems like we've seen more market bottoms this year ... Rate this Topic:
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laphill
Posted : Friday, September 19, 2008 12:17:30 AM
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... than you see on the top deck of a Carnival cruse ship.
laphill
Posted : Monday, October 13, 2008 5:33:20 PM
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Chalk up another one ?
realitycheck
Posted : Monday, October 13, 2008 7:24:39 PM
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I was really a bit surprised to read this in tonight's Worden Report ....

" The Dominant Price-Volume Relationship was PUVD (2476 stocks in the Russell-3000). This reading is irrelevant, since today was Columbus Day and several markets were closed (most importantly, the bond market). The session was destined to light volume."

The market rallied nearly 1000 points on volume that was clearly not commensurate with a move anywhere near this .... and thus ... it deserves to be discounted ??


yinzer
Posted : Monday, October 13, 2008 7:35:08 PM
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QUOTE (realitycheck)

I was really a bit surprised to read this in tonight's Worden Report ....

" The Dominant Price-Volume Relationship was PUVD (2476 stocks in the Russell-3000). This reading is irrelevant, since today was Columbus Day and several markets were closed (most importantly, the bond market). The session was destined to light volume."

The market rallied nearly 1000 points on volume that was clearly not commensurate with a move anywhere near this .... and thus ... it deserves to be discounted ??



I saw that too, but you seem to be linking the 1000 point move with his specific comments on the PUVD. I think he's saying that you can't put much into the volume down aspect.
realitycheck
Posted : Monday, October 13, 2008 7:58:04 PM
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I see what you're saying ... but it still somewhat struck me like "justitfication" ... possibly even Confirmation Bias ...

Regardless of the holiday ... the fact that the market produced this kind of move ... on this level of volume ... would seem to indicate an absence of one side of the market ... as the market could have easily found itself down ... or sideways ... on this very same level of volume ...

It's been said that short-sellers represent the most sophisticated segment of market participants ...

That the overwhelming majority of market participants buy long ... or sell ... and that's all that they ever do ...

Perhaps ... just perhaps ... the most sophisticated segment of the market can afford to take an extra day off here and there ...

Or not ...

Who knows ??

I just get this feeling around me ... that everyone is just waiting to "pounce" on the market bottom ... as once the bottom is formed ... we'll be back at 14,000 in not time flat ...

And I would argue ... that as long as that attitude exists ... we have not found our way through the psychological processes that must inevitably occur to indicate the end of a bear market ...

But ... that's just my very humble opinion ...


johnlc
Posted : Monday, October 13, 2008 8:25:14 PM
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i think this was mentioned before,  maybe by scott,   what would  happen if they reinstituted the uptick rule until there is some stabilization in the markets again?

realitycheck
Posted : Monday, October 13, 2008 9:08:17 PM
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QUOTE (johnlc)

i think this was mentioned before,  maybe by scott,   what would  happen if they reinstituted the uptick rule until there is some stabilization in the markets again?



The SEC is considering it right now ...

As well as a plan that would institute a short selling ban on a stock for three days if it falls more that XX% in a day ...

But ... in the end ... it's just more market manipulation by government ...

No short selling ... means no short covering rallies ...

Short selling doesn't cause a stock to go somewhere other than where it is destined to go ... it just gets it there faster ... and often is responsible for arresting the fall ...

As the short sellers know exactly why they shorted it ... and at exactly what point in price "value" will return to the security ...

As long as you're legitimately borrowing the stock ... I don't see the problem ...

Are you going to suspend the buying and selling of puts as well ...

There's very little difference between selling a stock ... and selling short a stock ... as the people that are loaning it are very well aware of the purpose for which it is being loaned ...

The uptick rule might help to slow panick selling ... but other than a few brief periods ... I haven't seen much panick selling ... and those periods would probably total no more than a couple of hours ...

I think that they just need to worry about their job ... regulating financial institutions ... and let the market worry about itself ...

If they hadn't screwed up their job ... then the market wouldn't be having a problem ...

So ... do we really need them putting their fingers in any more pies ?

Or have they screwed up enough ?

realitycheck
Posted : Monday, October 13, 2008 9:15:12 PM
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Damn ... I spelled panic with a "k" ... not once ... but twice ...

Sorry ... every time I get to thinking about the government ... I nearly blow a fuse ...

Millions of Americans think that the government did a terrible job handling the Katrina aftermath ... yet these same people think want to put the SAME government in charge of healthcare ... 

I just don't get it ....

johnlc
Posted : Monday, October 13, 2008 9:54:15 PM
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granted every time the govt. intervenes in the public sector, they make the problem worse.   but they fix whatever, just ask any politician, by throwing more money at the problem.    that always fixes everything.   because its not their money.   at least their track record is consistent.       

was this mess preventable?   i'm certainly not that smart.   could the govt. have stepped in and instituted regulations to curtail these financial institutions shoddy borrowing and lending practices?   if they would have, is that considered communism or fascism (whatever)?    was there actually a way a preventing this other than allowing circumstances to run their course?    

i liked the discussion and cnbc this morning:    people who have had their retirement porfolios and 401's ruined , they can just work a few more years to make up for the losses.   just work til 67 then social security will be at maximum.  thanks for the advice.  who in the hell wants to work til 67?   social security????     how about lowering the max. social security to say 63.   i think they tax S.S. don't they.
Nice of them.  

govt. running health care.    that would be worse than them running welfare, foodstamps, too many others to name.  

maybe these bigshot ceo's would like to donate some of their bonuses to all the good people whose lives they helped screw up.     does enron  sound familiar?    same thing, just a different way of screwing people out of their money.

realitycheck
Posted : Monday, October 13, 2008 10:05:17 PM
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63 ?

Are you kidding ?

SS is already going to go cash flow negative by 2017-2018 ...

And enough baby boomers know this that they're starting to go out early at 62 ... which. of course, makes the problem only that much worse ...

So ... the good folks at SS are already starting to run ads ... appealing to the patriotism of seniors ... telling them that the "patriotic" thing for them to do would be to work beyond even their full retirement age ... as this would be the best way to preserve SS for their children and grandchildren ...

In short ... if you retire early ... or even at your full retirement age ... then you must hate your kids ... and your grandkids ...

 
Hushai
Posted : Monday, October 13, 2008 10:31:09 PM
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QUOTE (johnlc)
granted every time the govt. intervenes in the public sector, they make the problem worse.   but they fix whatever, just ask any politician, by throwing more money at the problem.    that always fixes everything.   because its not their money.   at least their track record is consistent.       

was this mess preventable?   i'm certainly not that smart.   could the govt. have stepped in and instituted regulations to curtail these financial institutions shoddy borrowing and lending practices?   if they would have, is that considered communism or fascism (whatever)?    was there actually a way a preventing this other than allowing circumstances to run their course?    

i liked the discussion and cnbc this morning:    people who have had their retirement porfolios and 401's ruined , they can just work a few more years to make up for the losses.   just work til 67 then social security will be at maximum.  thanks for the advice.  who in the hell wants to work til 67?   social security????     how about lowering the max. social security to say 63.   i think they tax S.S. don't they.
Nice of them.  

govt. running health care.    that would be worse than them running welfare, foodstamps, too many others to name.  

maybe these bigshot ceo's would like to donate some of their bonuses to all the good people whose lives they helped screw up.     does enron  sound familiar?    same thing, just a different way of screwing people out of their money.



That government you refer to is the Bush government - not any government.
I have said plenty in the past, that this country will not go forward until it has a nationalized health care system.  It is a fact that this is the only developed and the richest country in the world that doesn't have it.
It is a fact that until that changes our workers will not be able to compete in a global economy - if they do it will be at the expense of their own health as we are already seeing.  over 48 million american at this point are uninsured.  The current system just will not cut it - the government at least for this one needs to step in regardless of that those shameless lobbyist tell you in washington.
That is my opinion.  It is not my need, but I understand the need of others.  After all health care should be a human right.
realitycheck
Posted : Monday, October 13, 2008 10:41:24 PM
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Oh Pleeeeeezzzz ....

Like government never screwed anything up until Dubya was elected ...

They've screwed up virtually EVERYTHING that they've touched ... as long as I can remember ...

So ... just what do want to talk about ?

Regulation of truck lines and airlines ... which kept consumer prices artificially high ?

Wow !  We sure need some of that in our healthcare ...

Or ... what about price supports and allotments in agricultural commodities ...

Whoops ... wait ... that had the same effect ... didn't it ??

ANY TIME ... not just some of the time ... but ANYTIME the government has interfered in the free market system ... the consumer has paid the price ...

Either directly ... in price ... or in the qualtiy of the good and/or service ....

They need to act on our behalf ONLY in the form of a regulator ... nothing more ...

Tell me how government is going to improve healthcare ....

Are they going to put caps on the pay of healthcare professionals ?

That's really worked well in Canada ... hasn't it ?

Are they going to limit frivilous malpractice law suits ?

Nope ... the Democratic Party is the party of lawyers ... that's the LAST thing that they're going to do ?

So ... how can they help ?

Or is Obama just going to wave his magic wand at it  ... and instantly everything is better and cheaper ????

Hushai
Posted : Monday, October 13, 2008 10:53:38 PM
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It works in Europe, in Canada, and in many other places around the world.  People fly to India to get 3 times better health care 3 times cheaper then it is here, and that is including the travelling expenses.
The middle class of this country can't afford anymore the current cost of health care.  More than 90% of bankrupcies in this country are healthcare related.
Unless you have a bettter solution than a national healthcare I do not see the point of your allegation.
Like I said the current system is no longer working.
I am not too fond of goverment myself, but I surely recognize the problem with health care.  And for as long as health care keeps going in excess of 20% increase cost every year while wages barely increase 5% - it will continue to pound at the heart of this country - the middle class.
realitycheck
Posted : Monday, October 13, 2008 11:27:21 PM
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QUOTE (Hushai)
It works in Europe, in Canada, and in many other places around the world.  People fly to India to get 3 times better health care 3 times cheaper then it is here, and that is including the travelling expenses.
The middle class of this country can't afford anymore the current cost of health care.  More than 90% of bankrupcies in this country are healthcare related.
Unless you have a bettter solution than a national healthcare I do not see the point of your allegation.
Like I said the current system is no longer working.
I am not too fond of goverment myself, but I surely recognize the problem with health care.  And for as long as health care keeps going in excess of 20% increase cost every year while wages barely increase 5% - it will continue to pound at the heart of this country - the middle class.


No ... it does NOT work in Europe ... as there are gray markets set up in every country with socialized medicine to deliver quality, expedient healthcare to those who can afford to pay twice ...

No ... it does NOT work in Canada ... as there are cottage industries set up in towns just acoss the border in the US to the same as above ...

There is a huge ruckus going on in Canada right now over the private healthcare that is available up there ... and those who are forced to the public system feel like it is having a negative impact on the public system ...

There's a 6 month wait to have a mole removed in a doctor's office ... but for those procedures for which you must pay ... you can get a Botox injection the next day ...

And with strict caps put on healthcare workers' salaries  ... the quality workers are either gravitating toward the private side ... or leaving for the US ....

I TOTALLY agree with you that the middle class can't afford healthcare in this country ...

And the FIRST STEP in reducing these costs is Tort Reform ...

If a doctor is doing the best that he can ... but makes a mistake ... then you simply CANNOT pay out $10 million dollars for the accidental death of someone who would never have made $500,000 in their entire lifetime !!

And ... hiring a bunch of freaking lawyers to get THAT job done ... amounts to little more than lunacy !!!!!!!

bcraig73450
Posted : Monday, October 13, 2008 11:48:08 PM
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You can lay this current crunch at the feet of the Democratic Congress during the Clinton administration when it lowered the credit standards for Fannie Mae loans.

I don't know of any thing the government touched that wasn't made worse.

That said, it was time for the market to fall off the cliff.  If the credit crunch hadn't happened then some thing else would have triggered it.

This an opportunity waiting to happen.

this rally today may extend into the bounce the Worden Repost has been expecting and go on until the Dow encounters resistance at 9838 or 10779, after which it will turn around and seek support.

There is probably some short term profit to be had in this current up-swing.

Eventually the market will find a true bottom, I don't think it has found it yet, and we will have anther relatively long bull market.

As ever, just my opinion.
laphill
Posted : Monday, October 13, 2008 11:59:31 PM
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RC,  well informed as usual.
Hushai
Posted : Tuesday, October 14, 2008 12:11:47 AM
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Reality I can only vouch for what I really know.  I have family in Spain, and Italy, and I know that some of my friends have flown to India to have surgical procedures done there and even with the travel expenses were cheaper than their deductibles.
Now, Europe is not  just Spain and Italy, but I can assure you that the 6 month deal that you allegate above is not the case in those 2 nations.  You get sick today, and you can see a doctor tomorrow. 
And health care is even better in France.  Also as you well know Norwey, Germany, and Switzertland are above the standard of healthcare anywhere in the world.
I am not sure about Canada so.  But it seems that you 6 month wait for a mole removal is an exception to the rule.
I agree that medical lawsuits in this country are a problem, and I also think that nationalization of the system would slow that down.  Just my opinion.
strudle
Posted : Tuesday, October 14, 2008 1:07:04 AM
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Hushai, the universal health care seems to be Wonderful until you have experienced it. Before you praise universal health care, allow me to tell you about three family member treatment two in Scotland the other in Canada. The first was a WW ll certified hero but it gained him nothing when at the age of 74 he  had a heart attack, My aunt took her husband of 40 years to National Health Clinic who examed him gave him pain pill and send him home. He did not get better so a few hours earlier she called a private physican, who promptly declared he had suffered a heart attack, but due to delay in treatment he died. My aunt came to Texas that winter and after 3 months she had a heart attack. We rushed her to local hospital. I will never forget the heart physican and our family doctor throwing her "heart drugs in the garbage" both saying this is junk that's does not work. Well she recovered and the Doc's sent her home with enough prescriptions for next year. When her drug supply ran out she learned the UK Health Service did not have the required drugs and put her back on the "junk" tossed out by her US doctors.
Finally, My Bro in law had severe stomach pains in Montreal so he goes to Canadan Health Care physican who scheduled him for CAT scan. He waited 6 weeks to receive the CAT scan. The doctor scheduled him for exploratory surgery but the wait was 6 months. He died 4 1/2 months later from pancreatic cancer. Yes the autopsy was done promptly! 
In UK if you have prostate cancer and you are over 65 they do not treat you because it cost to much. Their are more CAT Scan and MRI machines in one American city than the entire country of Canada. As one major Canadan Health Care official said if we had more machines we would find more expensive health problems which would cost a lot of money to treat. In a universal system its becomes more important to reduce the budget than weither you receive adequate health care. Health Care is simply rationed, with the elderly get less and less.

jimstacy
Posted : Tuesday, October 14, 2008 1:57:45 AM
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where would we start, one would be more training, down mkts usually have 2 to 3 down thrusts, there could be 3 thrusts to each of those thrusts. after each one it needs a test.holidays usually have low volume, investors who just lost 40 % of their value may not have a big interest in jumping back in, some not again in their life time. inexperienced traders who were short may have covered at each level along with those who bought on the way down, they wanted out even or close.Health care is miss understood, health care means employment for those in the medical community, a major interest in increasing the numbers insured. we have to many doctors for the funds committed to their lively hood. this is where the costs rise, slow week or month, they find more health care issues that need attention. xrays increase, blood tests, cancer tests? it goes on and on, with the AMA and their lobby in the house and congress, cost will continue to rise, it costs money to support the effort.than the injured who use drugs and chemicals to continue the disabilities? the emergency room care that tells us our injuries are severe to run us through the system, what would we expect? a bubble in the medical care about to do a oil retracment? probably not, too many jobs would be lost? be careful who you put in office.herman gehring (sp) was on large amts of pills when he was taken in custoday, as they were cut he became more healthy to where when his time for the hang man he was almost normal. some thought hitler was on those pills also, too much health care is not good for any country. we need laws to put health care providers in jail instead of you and I paying for those lawyers whose fees increase the cost of insurence, if you provide bad health care GO TO JAIL, costs will drop like the oil bubble, tomorrow? check the disabled to see if they are useing drugs or chemicals to keep the disabilities.
signaltap
Posted : Tuesday, October 14, 2008 4:45:40 AM
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For what I notice yesterday in the charts, the big pop came on sub-par volume, the way the dj30 behaved going higher, very erratic, implying that it was a mixture of some covering shorts and the same time another group raising the "ask" to higher levels, suggesting new shorts coming, the third component althought less was plain buying.

I have known for years looking at Level 2, I know that when shorts are covering, they come to the "bid" screen because they will buy the stock back. and I know that when new shorts come in the picture, "the ask" is the place because they sell it first, thus asking higher. also when you see the gap between the bid and the ask widening, shorting is more evident, specially by the ask.

In other words, the pop yesterday did not look real, because of the lack of real volume in which was sub-par. I wont be surprise to see the dj30 going higher in early trading and then "the bigs" or institutions/hedge fund guys will hammer the market real good in the afternoon, Is like the seller of stocks took a breather yesterday, but I know 100% that they'll be back, just like last Thurs price action, when it dove real hard from -180 to -678 in no time. Sellers are playing with "new" bulls, make them feel like something big was happening, but a false sense of security is present. Is like when the hunter of deer (or lion) sees its pray and let the animal come closer, and then in an instant, pow! the pray has been kill ( or devoured in the case of the lion)! 

 The daily price action of the last 2 weeks for the dj30 suggests that new lows will be in place soon!

Signaltap
realitycheck
Posted : Tuesday, October 14, 2008 8:26:15 AM
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sig ...

Thank you ... you so eloquently verbalized what I saw but could not convey ...


Hushai ...

Let us agree that there is a problem that must be resolved ...

And let us also agree that there are places like India, Thailand, and Costa Rica where quality, expedient, healthcare is available ... in a FOR PROFIT system ... and let us strive to adopt that which so obviously works ...

And I will also agree in that in small, resource rich countries ... they have been able to do things in healthcare that I have not seen done elsewhere ...

But ... we're not talking about oil-rich Norway ...

We're not even talking about Canada ... whose population is barely larger than California ... and whose economy is not nearly the size of California's ...

I don't care to hear ... "Oh ... I'll just make it work ... that's all ..."

I want to hear how you're going to make it work ...

Obviously ... costs are a problem ... so how will you deal with that ?

Will you cap healthcare workers pay ?

Will you cap malpractice awards ?

Will you nationalize the pharmaceutical companies ?

Will you institute a euthanasia initiative for terminal patients ?

Will you limit resources to control costs ... as has been done in Canada ?

How EXACTLY can this be fixed ??


diceman
Posted : Tuesday, October 14, 2008 9:10:16 AM
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In late 2006. Silvio Berlusconi (Prime Minister Italy)
needed heart surgery. Guess where he went?
The United States. Evidently he didn't find Italy's
socialized medicine too appealing.
 
Like they say: actions speak louder than words.
 
(dont find to many of our leaders going to Europe
for care)
 
 
Thanks
diceman
 
 

 
Captain Jack
Posted : Tuesday, October 14, 2008 10:19:08 AM
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Diceman, the best quality of care might be in this country, but the cost of that care is rising so high as to be out of reach to some. Leaders of other nations can afford to come to America for quality care, the problem is can Americans afford it?

realitycheck
Posted : Tuesday, October 14, 2008 10:47:27 AM
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I think that we all agree ... and have a pretty good grasp ... on the problem ...

But the question remains .... What is the solution ?

If the problem is cost ... how do we control those costs ??

strudle
Posted : Tuesday, October 14, 2008 2:14:07 PM
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Universal Health Care run by the government only answer to problem of cost is RATIONING of Health Care. Every nation who has a full blown government health care has rationed health care to its citizens. The group that bears the greatest shortage of health care is the elderly. Why the elderly? That's where the major costs originate.

So the question to those who support Universal Health Care: "Are you willing to die early for the good of the budget of the government?" 

Some will argue that the question is cruel and non-valid as we can take care of our elderly with a UHC system. Allow me to remind you of the words of a recent Governor of Colorado who stated that the elderly had an obligation to die early so as not to be a burden on the society and government. That governor was of the same political party as the backers of UHC.
signaltap
Posted : Tuesday, October 14, 2008 2:20:40 PM
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told ya! dow @ -200 bought puts again early am today! Sig
realitycheck
Posted : Tuesday, October 14, 2008 2:43:04 PM
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QUOTE (signaltap)
told ya! dow @ -200 bought puts again early am today! Sig


Well ...

You had about 15 seconds to get in above the 10 ema/daily ...

Hope you got in there ...

Captain Jack
Posted : Tuesday, October 14, 2008 3:18:28 PM
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How to control the cost of health care for a very large capitalist society? Very tough question. Doctors need high salaries so that they can afford Malpractice insurance and still make a good living "heck for all the schooling that they endure, and pressure put on them by society they deserve large salaries" now the hospital must of course pay them and still turn their profit. The Insurance companies must collect their share of the pie through high malpractice policy rates and the final piece is the worst the pharmaceutical companies can charge what ever they want for their drugs if they are still under patent. Blend this concoction together and you have "good health insurance coverage" that not many can afford.

You can say put a cap on this or that but then you stifle free enterprise the very foundation of our economic system. A liberal would say let the government regulate the whole system. A conservative would say screw the poor for being poor.

MMM quite the conundrum I would say. Who ever comes up with a good solution should win some kind of a Nobel Prize. 

funnymony
Posted : Tuesday, October 14, 2008 4:51:37 PM

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QUOTE (signaltap)
told ya! dow @ -200 bought puts again early am today! Sig


are you still holding those puts you bought before yesterdays 950 point rally too?
realitycheck
Posted : Tuesday, October 14, 2008 6:19:29 PM
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QUOTE (Captain Jack)

How to control the cost of health care for a very large capitalist society? Very tough question. Doctors need high salaries so that they can afford Malpractice insurance and still make a good living "heck for all the schooling that they endure, and pressure put on them by society they deserve large salaries" now the hospital must of course pay them and still turn their profit.

 

Agreed ... If we take away the incentive to invest all of that money in education ... all of those years of lost income ... then people will inevitably avoid the field ... as in the end ... everybody does what they are paid to do ...

We've seen strict salary caps imposed in Canada ... and the effect is that quality people either leave for greener pastures in the US ... or gravitate toward the private sector in Canada ...

Malpractice insurance is a huge problem ... but it is a huge problem because of the exhorbitant awards made in malpractice civil suits ...

If there is going to be any cost control ... it MUST BEGIN with tort reform ... and that ain't gonna happen with a bunch of damn lawyers running the show ... as they are gonna do what they are paid to do as well ...

 

 

QUOTE (Captain Jack)

The Insurance companies must collect their share of the pie through high malpractice policy rates and the final piece is the worst the pharmaceutical companies can charge what ever they want for their drugs if they are still under patent. Blend this concoction together and you have "good health insurance coverage" that not many can afford.

 Although we all love to demonize the insurance companies ... they are probably the most transparent of any involved ... as they expect to pay out no more than 70% of the premiums taken in ... and use the remaing 30% for administration and profit ...

And if they don't get their 30% ... the rates are going up ...

It's also fun to demonize the pharmaceutical companies ... but ... without the doctors prescribing those drugs ... the pharmaceutical companies would be starving to death ...

Have you ever been to a doctors office when a "pharm rep" walks in ?

They are ALL 20 something ... very attractive young ladies ... wearing a tight skirt ... revealing a butt that you could bounce a quarter off of ... and they lavish the offices with free meals, coffee mugs, clip boards, pens, and even some free drug samples ...

When I walk into a doctor's office ... I can read the clipboards and the pens and the coffee mugs and know what I'm going to leave with a prescription for ... it's doesn't matter if I have a headache, hemorrhoids, or a hangnail ...

QUOTE (Captain Jack)

You can say put a cap on this or that but then you stifle free enterprise the very foundation of our economic system. A liberal would say let the government regulate the whole system. A conservative would say screw the poor for being poor.

MMM quite the conundrum I would say. Who ever comes up with a good solution should win some kind of a Nobel Prize.

 I consider myself fairly conservative ... and I'd like to think that I have a bit more concern for my fellow man than that illustrated above ...

But lastly ... we must consider the point to which we ... the healthcare consumer ... are abusing the system ...

In 1970 ... about 5% of all births were by Cesarian section ...

Today ... it is around 35% ... and the cost of the procedure is many times a natural birth ...

But ... it is "convenient" for all parties ... and the doctors justify it by saying that it is less "risky" and therefore exposes them to less liability ...

Also ... there is the "end of life" costs ... as approximately 90% of all the healthcare dollars that a person will consume in their lifetime ... will be consumed in the last 6 months of their life ...

At some point ... we will have to deal with how much those 6 months are worth ... and how to determine them ... and that too will have to be adressed

What I've hoped to illustrate here is that the problems with our system are so widespread ... that it will take a complete change in attitude ... on the part of everyone involved ... to make any meaningful impact on the problem ...

And whether we can all be grown-ups and sort it out ourselves ... or whether it will take legislative intervention .... the EXACT same problems/issues will have to be addressed ...

Sorry for being so long-winded ...

Captain Jack
Posted : Tuesday, October 14, 2008 6:53:04 PM
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Joined: 10/6/2008
Posts: 34

I agree with all your points Reality, but history has shown that we cannot be grown-ups about these things and that government legislation will at some point have to intervene. Like all bureaucracy the fat must be trimmed at some point when the scales are leaning too far to one side.

I am for assisted suicide "a personal choice", I am for natural birth, and I am for caps on malpractice suits. "Is a wrongful death worth 20 million"? Of course you feel for the family but there has to be a limit.

One day we will have our solutions, I hope.

realitycheck
Posted : Tuesday, October 14, 2008 7:07:35 PM
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Joined: 9/25/2007
Posts: 1,506
Well ....

The lawyers would argue that the high awards are necessary in order to "punish" ....

But the problem could still be very easily solved ... with the stroke of a pen ...

Pass legislation that very simply states ...

All awards of normal compensatory damages shall go to those entities that were harmed ... and the lawyers may receive their "cut" out of that ...

BUT ... ALL awards of punitive damages ... and intangile damages like ... pain & suffering ... loss of a sexual partner ... etc ... will GO DIRECTLY to reduce the National Debt ... and the lawyers can't get a bloody dime of it ...

Pass that simple piece of legislation ... and it will ALL stop ...

And the odds of that being passed while a bunch of lawyers are running the show ... are roughly triple the odds of me winning the lottery .... without buying a ticket ...

johnlc
Posted : Tuesday, October 14, 2008 10:13:37 PM
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Joined: 2/21/2007
Posts: 797
reality:  you seem to have no faith in lawyers..    they do have moral standards, don't they?   

strudle
Posted : Tuesday, October 14, 2008 10:52:19 PM
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Joined: 10/16/2005
Posts: 31
Gentlemen, Texas did pass a Tort reform law limiting court awards. Now we have an influx of Physicians where we had a outflow. I have not heard one complaint from patients aboutd the limits but I have heard yells from personal injury attorneys. So it must be working!!!
realitycheck
Posted : Tuesday, October 14, 2008 11:28:31 PM
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Joined: 9/25/2007
Posts: 1,506
QUOTE (johnlc)
reality:  you seem to have no faith in lawyers..    they do have moral standards, don't they?   



Actually John ... I have the utmost faith in lawyers ...

The utmost faith that they will do what's best for them ... and screw everbody else ...

This would be a lot funnier ... if it weren't so true ...

QUOTE ( )

 Mafia Godfather finds out that his bookkeeper has cheated him out of ten million bucks. His bookkeeper is deaf.

That was the reason he got the job in the first place. It was assumed that a deaf bookkeeper would not hear anything that he might have to testify about in court.

When the Godfather goes to confront the bookkeeper about his missing $10 million, he brings along his attorney, who knows sign language.

The Godfather tells the lawyer "Ask him where the ten million bucks he embezzled from me is." The attorney, using sign language, asks the bookkeeper where the money is.

The bookkeeper signs back: "I don't know what you are talking about."

The attorney tells the Godfather: "He says he doesn't know what you're talking about." The Godfather pulls out a pistol, puts it to the bookkeeper's temple and says "Ask him again!"

The attorney signs to the bookkeeper: "He'll kill you if you don't tell him!" The bookkeeper signs back: "OK! You win! The money is in a brown briefcase, buried behind the shed in my cousin Enzo's backyard in Queens !"

The Godfather asks the attorney: "Well, what'd he say?"

The attorney replies: "He says you don't have the balls to pull the trigger."




strudle ...

Good for Texas !!!

It is just one of many things that Texas does better than most other states ...

And not just the Republicans ... before Dubya ... Ann Richards did a lot to fix some of the welfare problems ....

There's just a common sense way of thinking there ... that we could use more of everywhere else ...


jimstacy
Posted : Wednesday, October 15, 2008 12:38:06 AM
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Joined: 11/1/2005
Posts: 240
QUOTE (realitycheck)
I think that we all agree ... and have a pretty good grasp ... on the problem ...

But the question remains .... What is the solution ?

If the problem is cost ... how do we control those costs ??

...and have a pretty good grasp...on the problem sooo, aaa send this post to McCain and nobama thanks for the laugh guys.
Captain Jack
Posted : Wednesday, October 15, 2008 5:39:53 AM
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Joined: 10/6/2008
Posts: 34

QUOTE ( )

 Mafia Godfather finds out that his bookkeeper has cheated him out of ten million bucks. His bookkeeper is deaf.

That was the reason he got the job in the first place. It was assumed that a deaf bookkeeper would not hear anything that he might have to testify about in court.

When the Godfather goes to confront the bookkeeper about his missing $10 million, he brings along his attorney, who knows sign language.

The Godfather tells the lawyer "Ask him where the ten million bucks he embezzled from me is." The attorney, using sign language, asks the bookkeeper where the money is.

The bookkeeper signs back: "I don't know what you are talking about."

The attorney tells the Godfather: "He says he doesn't know what you're talking about." The Godfather pulls out a pistol, puts it to the bookkeeper's temple and says "Ask him again!"

The attorney signs to the bookkeeper: "He'll kill you if you don't tell him!" The bookkeeper signs back: "OK! You win! The money is in a brown briefcase, buried behind the shed in my cousin Enzo's backyard in Queens !"

The Godfather asks the attorney: "Well, what'd he say?"

The attorney replies: "He says you don't have the balls to pull the trigger."
 

That is truely funny, I always say that there are two things that are ruining this country. "Lawyers and the Media"




signaltap
Posted : Wednesday, October 15, 2008 8:49:27 AM
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Joined: 3/16/2006
Posts: 2,214
the pendulum is swinging to our side (bear side)! Sig
funnymony
Posted : Wednesday, October 15, 2008 3:15:25 PM

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Joined: 2/5/2006
Posts: 1,148
bull flag on the 10 min and 62 % retracement of the surge,

careful shorts, don't get blasted.


signaltap
Posted : Wednesday, October 15, 2008 4:53:59 PM
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Joined: 3/16/2006
Posts: 2,214
you gotta believe! -733 dj30 super plunge! Sig
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