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	<title>Comments on: But What Does It Mean for Me?</title>
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	<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/</link>
	<description>What happened to the global economy and what we can do about it</description>
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		<title>By: musecomandante</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-23415</link>
		<dc:creator><![CDATA[musecomandante]]></dc:creator>
		<pubDate>Mon, 10 Aug 2009 11:23:59 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-23415</guid>
		<description><![CDATA[There are many things to be done, all essential and none easy.  I personally work with a grass roots organization called A New Way Forward (http://anewwayforward.org) and we&#039;re fighting for fundamental reform of the U.S. financial sector which will hopefully lead to fundamental reform of the entire U.S. economy.  I am curious to hear how other commenters are transforming all this disturbing thought into positive action.]]></description>
		<content:encoded><![CDATA[<p>There are many things to be done, all essential and none easy.  I personally work with a grass roots organization called A New Way Forward (<a href="http://anewwayforward.org" rel="nofollow">http://anewwayforward.org</a>) and we&#8217;re fighting for fundamental reform of the U.S. financial sector which will hopefully lead to fundamental reform of the entire U.S. economy.  I am curious to hear how other commenters are transforming all this disturbing thought into positive action.</p>
]]></content:encoded>
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	<item>
		<title>By: jake chase</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21892</link>
		<dc:creator><![CDATA[jake chase]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 12:53:43 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21892</guid>
		<description><![CDATA[Yes, capitalism would be an excellent idea; too bad we have never tried it. Instead we have financial monopoly, institutional usury, free money for zombie banks and corruption at all levels of politics. Take a look at Hayek, Ayn Rand, Henry George, the real capitalist intellectuals. Don&#039;t confuse Goldman Sachs and citicorp and GE with free enterprise. Under free entreprise these companies would all now be in bankruptcy reorganization, where they should be. Having pull in the government is what our system is really about. Incidentally, bankruptcy is now a scam too, perhaps the biggest scam of all. The devil is in the details.]]></description>
		<content:encoded><![CDATA[<p>Yes, capitalism would be an excellent idea; too bad we have never tried it. Instead we have financial monopoly, institutional usury, free money for zombie banks and corruption at all levels of politics. Take a look at Hayek, Ayn Rand, Henry George, the real capitalist intellectuals. Don&#8217;t confuse Goldman Sachs and citicorp and GE with free enterprise. Under free entreprise these companies would all now be in bankruptcy reorganization, where they should be. Having pull in the government is what our system is really about. Incidentally, bankruptcy is now a scam too, perhaps the biggest scam of all. The devil is in the details.</p>
]]></content:encoded>
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		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21884</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:39:28 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21884</guid>
		<description><![CDATA[Would you say that Rolls-Roys engines or Mercedes&#039; cars are not the most advanced technologicaly because not everyone can afford them, would you?]]></description>
		<content:encoded><![CDATA[<p>Would you say that Rolls-Roys engines or Mercedes&#8217; cars are not the most advanced technologicaly because not everyone can afford them, would you?</p>
]]></content:encoded>
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	<item>
		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21883</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:37:41 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21883</guid>
		<description><![CDATA[Regarding the obesity, again you&#039;re showing strong desire to own people. I don&#039;t own these people (or any other people) so they don&#039;t owe me their productivity.

 

They&#039;re productive (or not) for their own benefit, they&#039;re not my property that I can decide what lifestyle they should live.

 

Remember? We’re talking about free people, free markets.]]></description>
		<content:encoded><![CDATA[<p>Regarding the obesity, again you&#8217;re showing strong desire to own people. I don&#8217;t own these people (or any other people) so they don&#8217;t owe me their productivity.</p>
<p>They&#8217;re productive (or not) for their own benefit, they&#8217;re not my property that I can decide what lifestyle they should live.</p>
<p>Remember? We’re talking about free people, free markets.</p>
]]></content:encoded>
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	<item>
		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21882</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:33:45 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21882</guid>
		<description><![CDATA[...sorry for repeating but couldn,t fit in one response and had to cut some...

How does market can fail? After all free markets are us, free people making their own free choices.

 

Markets never failed me. Law of supply/demand is a  natural event like gravitation and like nature abhors vaccum.]]></description>
		<content:encoded><![CDATA[<p>&#8230;sorry for repeating but couldn,t fit in one response and had to cut some&#8230;</p>
<p>How does market can fail? After all free markets are us, free people making their own free choices.</p>
<p>Markets never failed me. Law of supply/demand is a  natural event like gravitation and like nature abhors vaccum.</p>
]]></content:encoded>
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	<item>
		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21881</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:27:30 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21881</guid>
		<description><![CDATA[Your logic is totally off when you talk about cost, economy, productivity etc.
 
If you have difficulty with it, put in place of health care any other business, than you will see if logic still holds.
 
So, let’s say burden of people driving too much (!) is excessive use of brakes and other auto parts. According to your logic that should increase cost of repairs, parts etc? And as a consequence, costs rise for the rest of us ( the ones not using cars too much), gradually crowding out growth in wages….
 
Of course this gibber does not make any sense!
 
Excessive cost is possible only with external (out of market) manipulation,  made by government&#039;s use of force i.e. regulation, taxation, permits, favoritisms etc.
 
Without government restrictions, like ban on out of state insurance purchases, to mention just one, cost of health care would be drastically lower.
 
But then, people would be too happy and politicians would have difficulty to convince population how important government lawyers are. And content people are not too willing to look for a master to protect them.
 
 
In regard to American health care, please name other country in a world with more advanced technology in medicine, so far the best (I didn&#039;t say the cheapest - that wouldn&#039;t make sense) technology used by millions (known to humans) is in USA.
 
That is fact, not an opinion.

Read more original Ayn Rand, and not just about her. Something more then  Wikipedia. The best protection of somebody’s welfare and wellbeing is in our Constitution with its emphasis on individual (human) rights which can not exist without property rights.

Sorry for being little harsh on you but I’m getting sick and tired of recent growth of cynicism and “spread the wealth” mentality. It reminds me of socialist Germany and USSR of 1930’s, their leaders also just wanted to spread the wealth – the end results are known too well.]]></description>
		<content:encoded><![CDATA[<p>Your logic is totally off when you talk about cost, economy, productivity etc.</p>
<p>If you have difficulty with it, put in place of health care any other business, than you will see if logic still holds.</p>
<p>So, let’s say burden of people driving too much (!) is excessive use of brakes and other auto parts. According to your logic that should increase cost of repairs, parts etc? And as a consequence, costs rise for the rest of us ( the ones not using cars too much), gradually crowding out growth in wages….</p>
<p>Of course this gibber does not make any sense!</p>
<p>Excessive cost is possible only with external (out of market) manipulation,  made by government&#8217;s use of force i.e. regulation, taxation, permits, favoritisms etc.</p>
<p>Without government restrictions, like ban on out of state insurance purchases, to mention just one, cost of health care would be drastically lower.</p>
<p>But then, people would be too happy and politicians would have difficulty to convince population how important government lawyers are. And content people are not too willing to look for a master to protect them.</p>
<p>In regard to American health care, please name other country in a world with more advanced technology in medicine, so far the best (I didn&#8217;t say the cheapest &#8211; that wouldn&#8217;t make sense) technology used by millions (known to humans) is in USA.</p>
<p>That is fact, not an opinion.</p>
<p>Read more original Ayn Rand, and not just about her. Something more then  Wikipedia. The best protection of somebody’s welfare and wellbeing is in our Constitution with its emphasis on individual (human) rights which can not exist without property rights.</p>
<p>Sorry for being little harsh on you but I’m getting sick and tired of recent growth of cynicism and “spread the wealth” mentality. It reminds me of socialist Germany and USSR of 1930’s, their leaders also just wanted to spread the wealth – the end results are known too well.</p>
]]></content:encoded>
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		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21880</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:24:53 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21880</guid>
		<description><![CDATA[And BTW, how somebody&#039;s smoking, not in your home, can affect your dry cleaning bill?
 
 
You can expand your knowledge on externalities here:
 
http://mises.org/misesreview_detail.aspx?control=310
 
 
 You said:
 
&quot;....Access to the highest quality care (the best technology &quot;known to humans&quot; as you say) is determined by the quality of your insurance coverage. This is clearly reflected in the outcomes data, which show substantial disparities based on income and coverage...)
 
Daa...that is very deep revelation!... maybe to you, not to any rational person.
 
 Quality of any product made by humans is reflected in a price. Any product.
 
Name one product which is better in quality and more desired by people and at the same time cheaper then poor quality and less desirable one.  Food, automobile, house?
 
Regarding the obesity, again you&#039;re showing strong desire to own people. I don&#039;t own these people (or any other group of people) so they don&#039;t own me their productivity.
 
They&#039;re productive (or not) for their own good, they&#039;re not my property that I can decide what life they should live.
 
Remember? We’re talking about free people, free markets.]]></description>
		<content:encoded><![CDATA[<p>And BTW, how somebody&#8217;s smoking, not in your home, can affect your dry cleaning bill?</p>
<p>You can expand your knowledge on externalities here:</p>
<p><a href="http://mises.org/misesreview_detail.aspx?control=310" rel="nofollow">http://mises.org/misesreview_detail.aspx?control=310</a></p>
<p> You said:</p>
<p>&#8220;&#8230;.Access to the highest quality care (the best technology &#8220;known to humans&#8221; as you say) is determined by the quality of your insurance coverage. This is clearly reflected in the outcomes data, which show substantial disparities based on income and coverage&#8230;)</p>
<p>Daa&#8230;that is very deep revelation!&#8230; maybe to you, not to any rational person.</p>
<p> Quality of any product made by humans is reflected in a price. Any product.</p>
<p>Name one product which is better in quality and more desired by people and at the same time cheaper then poor quality and less desirable one.  Food, automobile, house?</p>
<p>Regarding the obesity, again you&#8217;re showing strong desire to own people. I don&#8217;t own these people (or any other group of people) so they don&#8217;t own me their productivity.</p>
<p>They&#8217;re productive (or not) for their own good, they&#8217;re not my property that I can decide what life they should live.</p>
<p>Remember? We’re talking about free people, free markets.</p>
]]></content:encoded>
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	<item>
		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21879</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:23:18 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21879</guid>
		<description><![CDATA[Let’s see other places in your rant where you strongly know better what is good for others.
 
 
And could you please name the goods and services which some people (market) can not find in a market.
 
How does markets can fail? After free markets are us, we the people making free choices.
 
Markets never failed me.
 
What you are saying is similar to what Clinton, in his second term, said when asked why he doesn&#039;t support returning excess money from government to people (the owners), the tax cuts. He said he would support it if he knew that people would spend their money the right way (meaning his way)!
 
You&#039;re saying similar; markets (people) failed me because they don&#039;t produce what I want.
 
You&#039;re absolutely wrong, in a free market (people) always produces what other people want to buy. People are always right in their choices.
 
But I understand how people can fail you; they don&#039;t want YOU, meaning they won’t voluntarily spend their own money on your ideas. That&#039;s why you want to use force (government) to compel them to live their lives &quot;the right way&quot;, meaning your way, according to your model.]]></description>
		<content:encoded><![CDATA[<p>Let’s see other places in your rant where you strongly know better what is good for others.</p>
<p>And could you please name the goods and services which some people (market) can not find in a market.</p>
<p>How does markets can fail? After free markets are us, we the people making free choices.</p>
<p>Markets never failed me.</p>
<p>What you are saying is similar to what Clinton, in his second term, said when asked why he doesn&#8217;t support returning excess money from government to people (the owners), the tax cuts. He said he would support it if he knew that people would spend their money the right way (meaning his way)!</p>
<p>You&#8217;re saying similar; markets (people) failed me because they don&#8217;t produce what I want.</p>
<p>You&#8217;re absolutely wrong, in a free market (people) always produces what other people want to buy. People are always right in their choices.</p>
<p>But I understand how people can fail you; they don&#8217;t want YOU, meaning they won’t voluntarily spend their own money on your ideas. That&#8217;s why you want to use force (government) to compel them to live their lives &#8220;the right way&#8221;, meaning your way, according to your model.</p>
]]></content:encoded>
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	<item>
		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21878</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:20:51 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21878</guid>
		<description><![CDATA[In a free market economy all property is privately owned, so if you spoil, steal or damage somebody&#039;s property, the proper recourse is to require you to repair that. For that purposes we have judicial system. Doesn&#039;t matter if the damage is made to my mill, a bicycle, house or fish farm. Again, what we really need the most is strong protection of property rights i.e. capitalism.]]></description>
		<content:encoded><![CDATA[<p>In a free market economy all property is privately owned, so if you spoil, steal or damage somebody&#8217;s property, the proper recourse is to require you to repair that. For that purposes we have judicial system. Doesn&#8217;t matter if the damage is made to my mill, a bicycle, house or fish farm. Again, what we really need the most is strong protection of property rights i.e. capitalism.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21877</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 05:19:06 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21877</guid>
		<description><![CDATA[NeverSummer,  
when you ask what should we (who? collective? Polit Biuro?) do to force people to spend their money on things they don&#039;t want to, you obviously imply that people&#039;s life (or part of it, lets say 30-40% of their productive ability) doesn&#039;t belong to them.
 
This is like saying your life belongs to you but I (or my gang, party) want to decide what you spend YOUR money on, and if you don&#039;t agree with me, too bad, I have bigger guns then you.
 
I wouldn&#039;t call that jumping to erroneous conclusions. You&#039;re a collectivist and you (or your representative) want to &quot;own&quot; people, meaning their money.
 
Obviously for their own good!]]></description>
		<content:encoded><![CDATA[<p>NeverSummer,<br />
when you ask what should we (who? collective? Polit Biuro?) do to force people to spend their money on things they don&#8217;t want to, you obviously imply that people&#8217;s life (or part of it, lets say 30-40% of their productive ability) doesn&#8217;t belong to them.</p>
<p>This is like saying your life belongs to you but I (or my gang, party) want to decide what you spend YOUR money on, and if you don&#8217;t agree with me, too bad, I have bigger guns then you.</p>
<p>I wouldn&#8217;t call that jumping to erroneous conclusions. You&#8217;re a collectivist and you (or your representative) want to &#8220;own&#8221; people, meaning their money.</p>
<p>Obviously for their own good!</p>
]]></content:encoded>
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		<title>By: Elle Smith Fagan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21868</link>
		<dc:creator><![CDATA[Elle Smith Fagan]]></dc:creator>
		<pubDate>Fri, 31 Jul 2009 03:03:34 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21868</guid>
		<description><![CDATA[Jan, 

thank you for your clarification.

Helps.

Work presses today, but may comment more later.
In the meantime, I am really enjoying reading
what the others have said, including you.
Food for thought.

thanks again
elle]]></description>
		<content:encoded><![CDATA[<p>Jan, </p>
<p>thank you for your clarification.</p>
<p>Helps.</p>
<p>Work presses today, but may comment more later.<br />
In the meantime, I am really enjoying reading<br />
what the others have said, including you.<br />
Food for thought.</p>
<p>thanks again<br />
elle</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: rodgermitchell</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21851</link>
		<dc:creator><![CDATA[rodgermitchell]]></dc:creator>
		<pubDate>Thu, 30 Jul 2009 21:36:13 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21851</guid>
		<description><![CDATA[What does the federal deficit mean to you? 
.
     Do you believe a balanced federal budget is more prudent than a federal deficit? Consider this: All six depressions in U.S. history began with a series of federal surpluses:
1817-1821: U. S. Federal Debt reduced 29%. Depression began 1819.
1823-1836: U. S. Federal Debt reduced 99%. Depression began 1837.
1852-1857: U. S. Federal Debt reduced 59%. Depression began 1857.
1867-1873: U. S. Federal Debt reduced 27%. Depression began 1873.
1880-1893: U. S. Federal Debt reduced 57%. Depression began 1893.
1920-1930: U. S. Federal Debt reduced 36%. Depression began 1929.
.
     Do you believe federal deficits cause recessions? Consider this: There have been 9 recessions in the past 50 years.  All began with reductions in federal deficit growth and all recoveries coincided with increases in deficit growth.
.
     Do you believe large deficits are an unsustainable burden? Consider this: In 1971, the federal government ended the last vestiges of the gold standard.  The purpose: To give itself the unlimited ability to create money. Therefore, the government can service any size debt. No debt is an unsustainable burden for the federal government.
.
     Do you believe federal deficits cause inflation? Consider this: Every period of significant price growth since 1969 has been associated with rising energy costs.  Not one of these inflationary periods was associated with federal deficit growth.
.
     Do you believe federal deficits crowd out lending funds? Consider this: The government borrows to support deficit spending.  So money lent to the government immediately returns to the economy for further lending.  Deficits add lending money to the economy, which is why deficit spending stimulates the economy.
.
     Do you believe our children and grandchildren will pay for today’s deficits? Consider this: There is no historical relationship between tax rates and deficits.  Tax rates are based solely on political considerations. Generally, Democrats raise tax rates and Republicans lower them, irrespective of deficits. Unless tax rates are raised and the government runs a surplus, our children and grandchildren will not pay for today’s deficits.
.
     Do you worry that other nations will stop buying our debt? Consider this. The U.S. government borrows by creating T-securities out of thin air, and then selling them – a two-step process.  The government just as easily could create money out of thin air, and skip the borrowing process. We don’t need the other nations to buy our T-securities.  In any event, nations do not buy our debt out of kindness. T-securities are a safe investment paying an acceptable return, over which we have total control.
.
     Given these facts, what do you believe?
.
Rodger Malcolm Mitchell
rmmadvertising@yahoo.com
www.rodgermitchell.com]]></description>
		<content:encoded><![CDATA[<p>What does the federal deficit mean to you?<br />
.<br />
     Do you believe a balanced federal budget is more prudent than a federal deficit? Consider this: All six depressions in U.S. history began with a series of federal surpluses:<br />
1817-1821: U. S. Federal Debt reduced 29%. Depression began 1819.<br />
1823-1836: U. S. Federal Debt reduced 99%. Depression began 1837.<br />
1852-1857: U. S. Federal Debt reduced 59%. Depression began 1857.<br />
1867-1873: U. S. Federal Debt reduced 27%. Depression began 1873.<br />
1880-1893: U. S. Federal Debt reduced 57%. Depression began 1893.<br />
1920-1930: U. S. Federal Debt reduced 36%. Depression began 1929.<br />
.<br />
     Do you believe federal deficits cause recessions? Consider this: There have been 9 recessions in the past 50 years.  All began with reductions in federal deficit growth and all recoveries coincided with increases in deficit growth.<br />
.<br />
     Do you believe large deficits are an unsustainable burden? Consider this: In 1971, the federal government ended the last vestiges of the gold standard.  The purpose: To give itself the unlimited ability to create money. Therefore, the government can service any size debt. No debt is an unsustainable burden for the federal government.<br />
.<br />
     Do you believe federal deficits cause inflation? Consider this: Every period of significant price growth since 1969 has been associated with rising energy costs.  Not one of these inflationary periods was associated with federal deficit growth.<br />
.<br />
     Do you believe federal deficits crowd out lending funds? Consider this: The government borrows to support deficit spending.  So money lent to the government immediately returns to the economy for further lending.  Deficits add lending money to the economy, which is why deficit spending stimulates the economy.<br />
.<br />
     Do you believe our children and grandchildren will pay for today’s deficits? Consider this: There is no historical relationship between tax rates and deficits.  Tax rates are based solely on political considerations. Generally, Democrats raise tax rates and Republicans lower them, irrespective of deficits. Unless tax rates are raised and the government runs a surplus, our children and grandchildren will not pay for today’s deficits.<br />
.<br />
     Do you worry that other nations will stop buying our debt? Consider this. The U.S. government borrows by creating T-securities out of thin air, and then selling them – a two-step process.  The government just as easily could create money out of thin air, and skip the borrowing process. We don’t need the other nations to buy our T-securities.  In any event, nations do not buy our debt out of kindness. T-securities are a safe investment paying an acceptable return, over which we have total control.<br />
.<br />
     Given these facts, what do you believe?<br />
.<br />
Rodger Malcolm Mitchell<br />
<a href="mailto:rmmadvertising@yahoo.com">rmmadvertising@yahoo.com</a><br />
<a href="http://www.rodgermitchell.com" rel="nofollow">http://www.rodgermitchell.com</a></p>
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		<title>By: NeverSummer</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21813</link>
		<dc:creator><![CDATA[NeverSummer]]></dc:creator>
		<pubDate>Thu, 30 Jul 2009 17:40:54 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21813</guid>
		<description><![CDATA[I am impressed with the pace with which you have jumped to erroneous conclusions about my &quot;ideology&quot;. At no point did I even suggest that the state should &quot;own&quot; our lives. You do your own position no favors by grossly distorting or willfully misunderstanding mine. 

My point was simply that private decisions in a market environment represent the best way to allocate goods and services, except in cases in which the nature of those goods and services is such that they are undersupplied. These are cases of market failure. Economists of the left and the right acknowledge these as realities.

Another weakness of an unfettered market is the propensity to produce &quot;externalities.&quot; These represent the costs (or benefits) of an activity that affect individuals or groups not party to a transaction, and which are generally not captured in the price. You are correct that a person&#039;s decision to smoke cigarettes is a strictly private decision, yet it may nevertheless impose costs on others, such as higher dry cleaning bills (you obviously reject &quot;second hand smoke&quot; as a credible risk). Why should one person be forced to pay higher costs because of another&#039;s private decision?

The fundamental issue here is not whether freedom is more desirable than tyranny -- freedom is obviously better and your mischaracterization of my position as anti-freedom a red herring. At issue, rather, is how we as a society seek to balance the costs and benefits of competing private decisions. If I run a paper mill and privately decide to dump effluent into a river, I am imposing costs on the fisherman downstream, whose livelihoods have been threatened by damaged fish stocks. Yet their decision to fish in that river undermines my ability to profit from my paper mill. How do we reconcile this?

I also encourage you to rethink your statements about the American healthcare system, which are simply wrong and betray a deep lack of familarity with the sector and its financing. Access to the highest quality care (the best technology &quot;known to humans&quot; as you say) is determined by the quality of your insurance coverage. This is clearly reflected in the outcomes data, which show substantial disparities based on income and coverage.

Regarding the obesity epidemic, whether or not this reflects individual choices, lifestyles, poor education, or excess consumption of processed food is not the point. Rather, the burden of obestity and its sequelae is substantial, increasing healthcare costs for the rest of us while reducing workplace productivity and affecting overall economic growth. A case in point: as the burden of ill health grows, the costs of treatment rise. As a consequence, health insurance costs rise, gradually crowding out growth in wages. Over the last decade, median wage growth has been flat, but health insurance premiums have risen 6% to 12% a year. In other words, the collective effect of millions of private decisions has a had a deleterious effect on the economic welfare of millions of Americans. 

Unfortunately, Ayn Rand doesn&#039;t offer us much guidance with regard to how best to balance the implications of one man&#039;s private consumption decisions on the welfare or wellbeing of another.]]></description>
		<content:encoded><![CDATA[<p>I am impressed with the pace with which you have jumped to erroneous conclusions about my &#8220;ideology&#8221;. At no point did I even suggest that the state should &#8220;own&#8221; our lives. You do your own position no favors by grossly distorting or willfully misunderstanding mine. </p>
<p>My point was simply that private decisions in a market environment represent the best way to allocate goods and services, except in cases in which the nature of those goods and services is such that they are undersupplied. These are cases of market failure. Economists of the left and the right acknowledge these as realities.</p>
<p>Another weakness of an unfettered market is the propensity to produce &#8220;externalities.&#8221; These represent the costs (or benefits) of an activity that affect individuals or groups not party to a transaction, and which are generally not captured in the price. You are correct that a person&#8217;s decision to smoke cigarettes is a strictly private decision, yet it may nevertheless impose costs on others, such as higher dry cleaning bills (you obviously reject &#8220;second hand smoke&#8221; as a credible risk). Why should one person be forced to pay higher costs because of another&#8217;s private decision?</p>
<p>The fundamental issue here is not whether freedom is more desirable than tyranny &#8212; freedom is obviously better and your mischaracterization of my position as anti-freedom a red herring. At issue, rather, is how we as a society seek to balance the costs and benefits of competing private decisions. If I run a paper mill and privately decide to dump effluent into a river, I am imposing costs on the fisherman downstream, whose livelihoods have been threatened by damaged fish stocks. Yet their decision to fish in that river undermines my ability to profit from my paper mill. How do we reconcile this?</p>
<p>I also encourage you to rethink your statements about the American healthcare system, which are simply wrong and betray a deep lack of familarity with the sector and its financing. Access to the highest quality care (the best technology &#8220;known to humans&#8221; as you say) is determined by the quality of your insurance coverage. This is clearly reflected in the outcomes data, which show substantial disparities based on income and coverage.</p>
<p>Regarding the obesity epidemic, whether or not this reflects individual choices, lifestyles, poor education, or excess consumption of processed food is not the point. Rather, the burden of obestity and its sequelae is substantial, increasing healthcare costs for the rest of us while reducing workplace productivity and affecting overall economic growth. A case in point: as the burden of ill health grows, the costs of treatment rise. As a consequence, health insurance costs rise, gradually crowding out growth in wages. Over the last decade, median wage growth has been flat, but health insurance premiums have risen 6% to 12% a year. In other words, the collective effect of millions of private decisions has a had a deleterious effect on the economic welfare of millions of Americans. </p>
<p>Unfortunately, Ayn Rand doesn&#8217;t offer us much guidance with regard to how best to balance the implications of one man&#8217;s private consumption decisions on the welfare or wellbeing of another.</p>
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		<title>By: jan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21763</link>
		<dc:creator><![CDATA[jan]]></dc:creator>
		<pubDate>Thu, 30 Jul 2009 01:13:51 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21763</guid>
		<description><![CDATA[Elle, there is a misunderstanding, I didnt say that life belongs to society, quite contrary.

i was just saying that concluding upon NeverSummer comment, read his and mine posts entirely.

sorry for being not so obvious.]]></description>
		<content:encoded><![CDATA[<p>Elle, there is a misunderstanding, I didnt say that life belongs to society, quite contrary.</p>
<p>i was just saying that concluding upon NeverSummer comment, read his and mine posts entirely.</p>
<p>sorry for being not so obvious.</p>
]]></content:encoded>
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		<title>By: Elle Smith Fagan</title>
		<link>http://baselinescenario.com/2009/07/24/but-what-does-it-mean-for-me/#comment-21759</link>
		<dc:creator><![CDATA[Elle Smith Fagan]]></dc:creator>
		<pubDate>Thu, 30 Jul 2009 00:33:48 +0000</pubDate>
		<guid isPermaLink="false">http://baselinescenario.com/?p=4456#comment-21759</guid>
		<description><![CDATA[must disagree with Jan in that LIFE is a gift that has nothing to do with a government or political view...
in a room with 100 people, only a few can possibly let their lives belong to a society - the rest of us find our path in it to lead fine lives, and some can&#039;t/don&#039;t/won&#039;t do THAT much.  Saying a life BELONGS to some other entity is SLAVERY, although the spin will buzz out the brain till we let it happen.  

Where do you think slavery came from, in the first place?  Someone was convinced that it was Ok and a good idea.

That is why the very media that gets criticized may be our salvation...we can , thru media, stay informed, and remain true to the NOTenslaved path in things.

I am very social, in the arts, and in my church, and love life and its ways - political and church friends and caring mommies are all saying that they fear that the solutions to the pressing issues today may be a sneaky way to turn to Socialism in our Government system.

Then, one morning, we wake up and HATE it, and it&#039;s too late!

help!

elle]]></description>
		<content:encoded><![CDATA[<p>must disagree with Jan in that LIFE is a gift that has nothing to do with a government or political view&#8230;<br />
in a room with 100 people, only a few can possibly let their lives belong to a society &#8211; the rest of us find our path in it to lead fine lives, and some can&#8217;t/don&#8217;t/won&#8217;t do THAT much.  Saying a life BELONGS to some other entity is SLAVERY, although the spin will buzz out the brain till we let it happen.  </p>
<p>Where do you think slavery came from, in the first place?  Someone was convinced that it was Ok and a good idea.</p>
<p>That is why the very media that gets criticized may be our salvation&#8230;we can , thru media, stay informed, and remain true to the NOTenslaved path in things.</p>
<p>I am very social, in the arts, and in my church, and love life and its ways &#8211; political and church friends and caring mommies are all saying that they fear that the solutions to the pressing issues today may be a sneaky way to turn to Socialism in our Government system.</p>
<p>Then, one morning, we wake up and HATE it, and it&#8217;s too late!</p>
<p>help!</p>
<p>elle</p>
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