What the future needs!

Arnold Kling grades the healthcare summit Cato live-blogs the summit

Via Alan Reynolds: In a 2008 study for the Department of Health and Human Services, Stephen T. Parente and three other health economists from the University of Minnesota carefully estimated the "Consumer Response to a National Marketplace for Individual Insurance." If markets were just opened up to regional competition, they found, many folks would opt for the better value and move their individual policies to a nearby state. And, because of the savings, many consumers would select better, more comprehensive plans than they now have. By region, the states with the least costly insurance mandates were New Hampshire in the Northeast, Nebraska in the Midwest, Arizona in the West and Alabama in the South. If those looking for individual policies were allowed to shop in any state, the number of uninsured would drop by 11.1 million in the Parente study's mid-range scenario, and possibly much more.

Via Michael Tanner: In fact, a study by Amy Finklestein of MIT suggests that nearly half of the per capita increasing health care spending is due to increased health insurance coverage. 

Michael Tanner summarizes: The RAND Health Insurance Experiment , the largest study ever done of consumer health purchasing behavior, provides ample evidence that consumers can make informed cost-value decisions about their health care. Under the experiment, insurance deductibles were varied from zero to $1,000.  Those with no out-of-pocket costs consumed substantially more health care than those who had to share in the cost of care.  Yet, with a few exceptions, the effect on outcomes was minimal. 

Here's how President Obama's permanent campaign organization, Organizing for America, summed up the results of the Healthcare Summit (in an email sent out yesterday: It was a conversation focused on substance, not process, and it showed. Both sides found areas of agreement. But there was a fundamental divide on establishing common sense rules to protect families from the worst insurance company practices (COMMENT: in other words, the Democrats want price fixing), and making sure that every American -- rich or poor, old or young -- has access to care (COMMENT: Don't we already have a tax-funded safety net?).   The President does not believe we can address a problem this big incrementally -- or after another year of rising costs and loss of coverage. (COMMENT: He views the "problem" as so important that we must do everything at once, or, what, do nothing? Strange.)

Mark Perry provides a great overview here. Goes into detail in an article here.

Mark Perry does a great slam-down of the new steel taxes.

The Democrats told us, after the Massachusetts special election, that regulation of the financial sector would be very popular with voters. Alas, the Demo-Statists seem to still be out of touch. According to Rasmussen, 34% favor more regulation of the financial system, while 47% are opposed.

Bernanke warns Congress it won't happen. That would be encouraging except that money is fungible, and the Fed has already absorbed a lot of debt from the economy as a whole. Surely this process has made funds available to buy Treasuries that wouldn't have otherwise been available.

Mona Charon speaks out in favor of anonymous political expression in the wake of the Citizens United decision. Good on her.

I agree with these comments, posted on my favorite blog, Carpe Diem: Thomas Sowell : "Tiger Woods doesn't owe me an apology. Nothing that he has ever done has cost me a dime nor an hour of sleep. Public apologies to people who are not owed any apology have become one of the many signs of the mushy thinking of our times. So are apologies for things that somebody else did. When somebody who has never owned a slave apologizes for slavery to somebody who has never been a slave, then what began as mushy thinking has degenerated into theatrical absurdity-- or, worse yet, politics." Warren Meyer : "I saw some news story that Tiger Woods was going to publicly apologize. Why? What did he do to me? I suppose he could apologize to us for letting us down by under-performing his public image, but he has taken a $100 million a year hit for the damage he did to his own image. I am willing to call things square between us."

It's coming to the market.

I just took this Pew Research quiz . I learned that I have the most in common with Gen X. I would have been more up to date if I played video games and did texting, but I'm not a complete fossil yet.

50% Now Say U.S. Is Winning War on Terror

47% Oppose Public Option Health Plan; 58% Oppose If Workers Forced To Change Coverage

A secret form of government growth.

Richard Timberlake explains in two short paragraphs : What the Federal Reserve does have is a powerful moneymaking machine that operates through the offices of its New York bank. In activating this machine to raise rates, the Fed’s decision-making board, the Federal Reserve Open-Market Committee (FOMC), issues a directive to the bank’s account manager to sell more or buy fewer government securities in New York’s financial market. This time the directive was to buy fewer. Since the Fed is a major player in the government securities market, when it buys fewer securities it causes the price to fall and their interest rate to increase. Unlike anyone else who buys something in markets, a Federal Reserve purchase is not made with old money but with brand-new money. The Fed creates the means of payment. If the seller of the securities wants cash, the Fed uses its authority to print new Federal Reserve notes. If the seller wants a check, the Fed account manager has the authority to issue o...

In macular degeneration, the cells in the retina at the back of the eye, which are responsible for clear vision, begin to die.  But when patients with macular degeneration taking part in the study began eating a diet containing saffron, these cells began to recover.

Robert Higgs makes a point that I have also stressed repeatedly, doomsday is not the end of the world. A few sample paragraphs . . . Even in the worst of times, however, economic calamity doesn’t mark the end of economic life. Austria, Germany and the U.S. South did not disappear as a result of their currencies’ ruin. Although many people suffered, most people found a way to survive, life went on, and economic activity eventually resumed after the adoption of a “reformed” or foreign medium of exchange. Most people survived even the recent hyperinflation in Zimbabwe, notwithstanding the Mugabe government’s best efforts to starve them. One aspect that virtually all tales of impending mega-woe have in common is that they end with the catastrophe itself: The day of reckoning finally arrives, the dreaded event occurs, and the story ends. However, stories end that way only in the movies, when the screen goes black. In real life, people soldier on. Even during the time of the Black Death ...

It bodes well for legalization efforts.

I wrote this based on a first draft provided by Jim Babka, followed by a few final edits from him . . . Do you have a right to be anonymous? Posted by Jim Babka Quote of the Day: "I disapprove of what you say, but I will defend to the death your right to say it."  -- Voltaire (attributed) Subject: Do you have a right to be anonymous? We need your help to file another brief with the Supreme Court. This time we want to protect your right to speak and act anonymously. This message will explain . . . * Why the right to anonymity is important * The controversial nature of the case about which we want to file a brief * What the brief will cost and how much time we have Your right to be anonymous You already exercise your right to anonymity when you vote. Without the secret ballot you would be vulnerable to various forms of intimidation. Other forms of anonymous expression used to be protected. For instance . . . America's Founder's published anonymously ...

Our fearless leader thinks he can do a better job than supply and demand when it comes to setting prices for health insurance.

Woke around 8 AM. Some rain today, but mostly sun. Starting to get back in the swing of things today after all the disruptions from illness, cigarette withdrawal (28 days without it), etc. The Dispatch writing and the CostCo trip took a lot of time. I think I discovered a better place to park at Costo, on the side, rear. Went to sleep shortly before Midnight. Tasks completed: DISPATCH: Fundraising Dispatch for anonymity brief Went to CostCo, and put it all away when I came back Took out garbage Clipped nails Viewing: Re-watched Chelsea Lately (E) interview with Lisa Edelstein because she's really hot with great legs in a really short dress BookTV: "The Next 100 Million: America in 2050" by Joel Kotkin , demographics BookTV: "Appetite for Self-destruction" by Steve Knopper -- how the record industry mishandled the digital revolution Book TV: The Fourth Part of the World: The Race to the Ends of the Earth, and the Epic Story of the Map That Gave Am...

The Galen Institute makes the following observation: The City of Alexandria, Virginia, requires residents to shovel their sidewalks after a snowstorm. There is a small city park in Old Town Alexandria a short distance from the Galen Institute’s offices. This sidewalk never has been shoveled, making it virtually impassable with two feet of ice and snow, forcing people to walk in the street -- which is neither safe nor convenient. The city isn’t going to give a ticket to itself of course, and therefore, it doesn’t have to comply with its own rules. Meanwhile, the rest of us (or our loved ones) spend hours and hours shoveling.

Here's a good explanation of why budget reconcilliation won't be used to pass the Democrat's big cancerous healthcare bill.

I hope the National Trust, or a consortium of artists can save the place. I would love to be able to tour it. It's a priceless site. I can't imagine it will be torn down.

From Rasmussen Research . . . 47% believe we can win in Afghanistan It's a minority view, and has dropped from a high of 51% in early December.

Bill Olson told me and Babka about a great tool yesterday . . . The Founder's Constitution

Spent the day at home working, mostly plowing through backlogged email. It rained much of the day. N came over for a brief visit. Conference call with Jim Babka and Bill Olson to discuss anonymity case. Completed day 27 without smoking. Still feeling dizzy, hopefully from withdrawals. Watched a few Book TV episodes, and a cute but light Hollywood romantic comedy, "Good Luck Chuck." I had never realized before that Jessica Alba is so tiny.

Bit by bit, the knowledge we need to achieve rejuvenation, accumulates . . . An enzyme, copper-zinc superoxide dismutase, seems to play a key role. 

Remind me, who was it who was supposed to hate us for our freedom? We've been told that it was the terrorists, but perhaps it's really the FBI . . . Your cell phone can be used to discern where you've been, either through gps, or triangulation using cell phone towers. Increasingly, the FBI is gaining access to the phone company logs that can be used to track your movements using these methods. They are doing this without warrants based on probable cause.

I used DownsizeDC.org's Educate the Powerful System to send a letter to my House Rep, Gabrielle Giffords, about the Free Competition in Currency Act. Here's how she responded . . . February 19, 2010 Dear Mr. Willis, Thank you for contacting me about the Free Competition in Currency Act of 2009 (H.R. 4248).  I appreciate hearing from you. As you may know, H.R. 4248 would repeal the section of the United States legal code that makes U.S. coins and currency "legal tender for all debts public and private."  The bill would also eliminate any taxes on the exchange of precious metals and currency. H.R. 4248 would legalize the creation of currency that competes with ordinary American coins and bills.  Currently, transactions involving precious metals and special coins are taxed as investments.  If this bill passes, state and local governments, along with private citizens, would be permitted to create their own currencies. H.R. 4248 was introduced on December 9, 2009...

Politicians and pundits constantly claim that China is manipulating their currency, to our detriment. Professor Mark Perry at the indispensable Carpe Diem blog makes a number of points to refute these claims, including this one . . . It's a strange use of the word "manipulate," which means : a. "To influence or manage shrewdly or deviously." b. "To tamper with or falsify for personal gain." In this case the "manipulation" is to America's advantage and China's disadvantage, because the undervalued yuan and overvalued dollar makes Chinese goods cheaper and more affordable for American consumers and companies, saving us billions of dollars, and making us wealthier and China poorer. It would be like accusing Wal -Mart of "manipulation" for offering "Everyday Low Prices," and saving Americans billions of dollars?? And, as usual at Carpe Diem, there's a great graph.

From Rasmussen Research . . . 51% think business leaders make better decisions than government officials. Politicians and the media have done their best to lay the Panic of 2008 entirely at the feed of business leaders, but despite the drumbeat a majority of the American people still intuitively know who the real bad actors really are. 

It has a long history. People were worried about it as far back as the mid-1500s.

Another visit with David Bergland and Sharon Ayres. They came and picked me up shortly before noon. We drove south of Tucson and toured the Titan Missle Museum , which, as the name suggests, is an old nuclear missle silo from the Cold War, complete with a missle inside.  It was a great tour, and another good visit with David and Sharon. Stopped and had something to eat at a Carl's Jr's on the way back, and they printed out their boarding passes at our house, and then were on their way.

Obama pledges $8.23 billion for 2 new plants. I love nuclear power, but wish the government protections and funding would be removed. Remove all subsidies from other forms of energy too. All means of generating energy should have to face the test of being able to find financing and insurance coverage in the free market.

Supreme Leader denies it again : “The threadbare and vain claims that nuclear arms are being made in Iran indicate that enemies of the nation have resorted to repetition even in the field of propaganda out of extreme helplessness. In response to such vain claims, the Islamic Republic of Iran will not fall into emotions because we have repeatedly said that our religious ideas and beliefs consider such weapons, which are the symbols of mankind degeneration, forbidden and "Haram" (religiously prohibited). Due to the same reason, we do not have the least belief in nuclear arms and bombs and do not go after them.”  I tend to believe him, even though I think he is, in most ways, a scumbag.

From Rasmussen Research . . . 73% think Washington is broken 49% favor building new nuclear plants 61% say government should stay out of housing market 60% want incumbents defeated in CA legislature

David Bergland and Sharon Ayres in town. They came over and I gave them a tour of the house. Went out for Mexican food at Casa Molina at Wilmot and Speedway. Good food, conversation, and a couple pitchers of Margaritas. Went next door to Trader Joe's -- they got protein bars and I got four boxes of electralyte water. Came back to my house. They stayed briefly. Nice visit. We tried to rouse Michael Cloud to join us, but no luck.

An overview : Andrew Florance, chief executive of CoStar: Nationwide, at least $1.4 trillion in commercial real estate debt is expected to roll over during the next three years. Warren said that half of commercial real estate mortgages will be underwater by the beginning of 2011. A fifth of residential mortgages are underwater now.  Unlike residential mortgages, which often can be paid over 30 years, commercial real estate mortgages typically must be paid off or refinanced within five years. Commercial properties mortgaged in 2005, 2006 and 2007, at the height of the boom, are reaching their maturity date.

Federal government may print money to "pay" debt "While accelerating the printing presses could do irreversible damage to the dollar's international reputation and the U.S. economy, history suggests that this is the way Washington will go to avoid the political pain of having to raise taxes and cut spending on popular programs such as Social Security, defense and Medicare." The Fed's most strident inflation fighter, Thomas Hoenig, president of the Fed's Kansas City reserve bank, warned on Tuesday that "short-term political pressures" are prompting Congress to take a risky gamble by continuing to borrow at unsustainable rates rather than address the deficit problem and he expects political leaders to be "knocking at the Fed's door" to demand that it print money to pay for the debt.   With regard to the World War II Debt . . . The country never really paid off the war debt. Rather, it was able to reduce the debt burden within a ...

I loved Keith Olbermann when he was taking George W. Bush to task for violating the Constitution. But it soon became apparent that Olbermann was just another partisan hack -- everything Democrat good, everything Republican bad. The turning point for me was when Olbermann defended Senator/Candidate Obama's flip-flop on telecom immunity (in the case of President Bush's illegal warrantless spying on the American people). This made it perfectly clear that Olbermann has no real regard for the Constitution. All he really cares about is being a pimp for the Democrats. Since then . . . Olbermann has graduated from being a hack and a pimp, to being rabid and crazed. For instance, it doesn't surprise me to learn that he donned a Bill O'Reilly mask and gave the Nazi salute at a gathering of TV critics.  Some people may be able to see a meaningful difference between O'Reilly and Olbermann, but I can't. In addition: Nick Gillepsie nails the frantic, breathless, run-...