By John Mauldin, Mauldin Economics: The past 60 years – our idea of “normal” – enjoyed a demographic tailwind worth 1% of economic growth per year. If 3% growth is "normal," it’s really 2% growth plus a demographic tailwind of 1%. But now demography – one of the three Ds of our hurricane of debt, deficits, and demographics – is hitting economic growth.
Entries in Body & Mind (17)
At first, it was just multinational drugmaker GlaxoSmithKline that allegedly paid bribes in China, including “sexual bribes,” to “government officials, medical associations, hospitals and doctors,” by using travel agencies as conduit. For a total of $489 million. Now more big drugmakers are on the hot seat for the same crimes in China – and in the US.
Facebook isn’t over the hill, exactly. Last October, it announced that 1 billion people a month used it, in a world of 7 billion. Leaping from one milestone to the next. But in key markets, such as the US where it derives most of its revenues, it is plateauing, and a shudder-inducing D-word has snuck into polite conversation: declining. Now we have a new reason.
Congress excels at enriching corporate welfare programs—in this case, Medicare. Ironically, it happened while Congress is struggling to rein in Medicare’s gargantuan deficits with belt-tightening measures that would hit people who paid into the system throughout their working years. This time, the prime beneficiary was Big Pharma, particularly one company....
A sadly familiar theme in the US—the growing ranks of the working poor—was fleshed out today. But the report did something else: it added graphic details to the conundrum of US healthcare spending: while it ballooned to $2.7 trillion, 17.9% of GDP, or $8,680 per capita, households have lowered their share. So have businesses. What gives?
Americans under fifty are paying the price. We don’t know exactly why. Even the panel of experts that authored the massive report, "US Health in International Perspective: Shorter Lives, Poorer Health," admits that it can’t entirely pinpoint the reasons. But we do know how Americans under fifty, particularly males, are paying the price: with their lives.
Now some new fodder for the gun-control debate that the horrid events in Connecticut suddenly stirred into a frenzy, though it had been snoozing through the daily drumbeat of murders in Oakland, CA, a few miles across the Bay from me, or in Richmond to the north, or really in any other city. The fodder is inconvenient, however. For both sides of the debate.
Anecdotal evidence has been coagulating into numbers, and these numbers are now beginning to weigh down corporate earnings calls. It appears the toughest creature out there, the one that no one has been able to subdue yet, the ever wily and inexplicable American consumer, is having second thoughts about prescription drugs. And is fighting back. A paradigm shift. Causing “unprecedented concerns” in the industry.
Contributed by LearnStuff. Here it is, finally, the one thing we hard-working stiffs have been looking for all along, an infographic telling us just how bad sitting—and particularly sitting in front of a computer—all day is for us. A fun look at some serious data with big health implications. And tips on how to extend your life a little. Enjoy.
It started on September 19. In several East German states, a lot of children and adolescents fell ill with vomiting and diarrhea. A week later, it was officially acknowledged as a foodborne illness. And now is has become the largest wave of food poisoning ever recorded in Germany.
There has been anecdotal evidence. But now GE’s quandary confirms it: the toughest creature out there that no one has been able to subdue yet, the inexplicable American consumer, has apparently accomplished a miracle: putting the screws to runaway health-care costs that are taking over the economy and that are bankrupting the country. Motive? Profit.
Contributed by Alex Daley and Doug Hornig, Senior Editors, Casey Extraordinary Technology. The cellphone in your pocket is NASA-smart. Yet it costs just a couple hundred dollars. So why is it that rising technical capabilities are leading to drastically falling prices happening everywhere, except in your medical bill? The answer may surprise you…
On January 9, I posted The Systemic Nature of Medicare Fraud—“the kind of Medicare fraud that makes your skin crawl.” On January 10, I received an email from the Chief of Staff at Alvarado Hospital. He strongly objected to this sentence: “Its Alvarado Hospital Medical Center in San Diego already appears to be under investigation.” And it kicked off a learning process.
It’s the kind of Medicare fraud that makes your skin crawl. And it’s part of a vast scheme. After investigative reporters detailed the case, the FBI finally got serious. But no insurance company would have fallen prey to it. Only Medicare cannot defend itself. It doesn’t even know when it’s happening because, inexplicably, it doesn’t analyze the bills. And so an industry has sprung up.
But not in the US.
Just in time to make you feel better about holiday travels: airport security scanners that use X-ray technologies are acknowledged to cause cancer. No problem in the US; but now they’re banned in the EU.
A dream—or nightmare—yields to scientific progress: quantitative models recreate thoughts, and brain signals control mechanical devices. Yet, the brain is an unreliable organ that makes up for shortcomings in data with profuse creativity. It's going to be a wild ride. And Google and Facebook will have a field day.