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9/8/16

For "One Of The Most Influential Economists In The World Today", Doug Casey sure says some stupid things about the economy

Take for example this, published today in The Casey Report:

"If there was a completely free market in medical care, its price would have been falling, not skyrocketing. Why? Because medicine is a high-tech endeavor. As such it would be subject to some variation of Moore’s Law, that we see in the computer world, where prices go down and quality goes up every year. Moore’s Law is at work in biotech, nanotech, and genetic engineering—all of which are currently unregulated. These things are now intimately related to medical technology. But your doctor and hospital have to spend more time and money meeting regulations and dealing with insurance minutiae than actually providing care. A lot of doctors are leaving the practice, because it’s become more trouble than it’s worth. And less people want to spend the years of time and hundreds of thousands of dollars it takes to get a medical degree, for the same reason."

Doug, a little learnin' for ya. Moore's Law isn't a law, it's an observation. It's also dying. Next up, it's not at work in biotech, nanotech and genetic engineering. Not at all. At all. It cannot be applied to a friction-laden sector such as medical care. While we're here, "a lot of doctors" and "less people " are classic examples of empty rhetoric (Google the phrase if you're not sure, dude) and mean nothing. We know you like to think of yourself as a controversial free-thinking street fighting man who goes outside the box and all that jazz but as David St. Hubbins and Nigel Tufnel so wisely pointed out, it's such a fine line between stupid and clever.

Read more about "One Of The Most Influential Economists In The World Today" here.