Milton Friedman - Government's Health Care Role

[cesar333]

Health insurance loves you when your young, but once you get older and need more extensive medical attention, or god forbid get cancer,Your screwed.

[sniped101]

damn milton.. i never thought about it that way.. people spend more money on things that make them bad then on things that make them healthy.. it is well within the means for an average american family.

[cisseshairdresser]

This idiot has the most whiny annoying voice ever. He's nothing compared to Keynes.

[s0beit]

@cisseshairdresser Keynes was a moron who is has been proven very wrong very many times. How is that stimulus working out? Remember stagflation?

[cisseshairdresser]

@s0beit

Last time I checked the stimulus saved around 200 million jobs in the US and now the US AND the UK are begging for more Govt. Stimulus. Even Wall St wants it and is doing what it can to get it. Stimulus is the only thing that can save the economy of the US and UK now. Something needs to stimulate the economy and every expert knows that lowering taxes will not helpin the slightest.

[s0beit]

@cisseshairdresser Even if that is true - and I promise you it's not, that would be 200 million jobs lost in the private sector. Long-term sustainable jobs that add value to the economy, not public spending make-work jobs.

QE has been going on for years and we're up for another round, all stimulus has not shown any effects beside politicians claiming it would have been worse. We need to cleanse the economy of garbage companies, it's going to hurt, but kicking it down the road will hurt more.

[Imbobby1980]

@cisseshairdresser 200 million jobs? You may want to check your math buddy.

[FletchforFreedom]

@cisseshairdresser You apparently never checked. The Obama administration has claimed the savings of a couple of million jobs but as anyone with any actual knowledge of economics can tell you, the figure is entirely bogus. The CBO uses static scoring (which means they ignore half the equation -specifically the jobs lost becasue the resources have been removed from the private sector). Every ACTUAL expert knows that government CAN'T create jobs - it's an economic impossibility.

[cisseshairdresser]

@FletchforFreedom Your so wrong it hurts, actually you're more ignorant of the facts. If the Govt decides to spend a shit ton of money on repairing every single bridge in the country doe's that create a LOT of jobs?

Looking forward to how you put your brain washed right-wing idiot spin on that BUT you'll probably need to consult Fox News first for the answer.

Retard.

[FletchforFreedom]

@cisseshairdresser I’m not right wing. I’m an economist who has forgotten more facts on this topic than you likely will ever know. Basic economics (and logic) dictates that if the government spends money to repair bridges that creates THOSE jobs BUT government must get the money from SOMEWHERE – taking those resources out of the vastly more efficient private sector and thus DESTROYING more jobs than were created. Government CAN’T create jobs on a net basis.

Retard.

[mrcatfacefrog]

@FletchforFreedom fletch you know there is more to youtube than trolling Friedman videos for years on end. Just face up that Milton is a charlatan and the economy is a largely horrid scheme based on idealism but ran by the least ideal of candidates. No less than true saints are required to deal with something like a capatilist/socialist/communist economy.

[bluefootedpig]

This guy is saying thoughts I have talked to my wife about for the past 3 years. Thank you so much LibertyPen

[daPlumber702]

4 people that watched this video don't understand economics. 

[MsZeitgeist85]

American Health Care System ranked 37th in the world.

You Fail Friedman.

[chrycohauler]

@MsZeitgeist85 no doubt a ranking for the anti US United Nations.

[MsZeitgeist85]

@chrycohauler It is ranked by the World Health Organization. Are you going to question them? We spend more than any other country and tens of thousands die a year because insurance companys do not want to cover them.

[chrycohauler]

@MsZeitgeist85 The WHO?.another anti american group.Answer me this.Why do people from around the world flock to the US for treatment? Why do Canadians spend millions for treatment in the US?.Why if the US ranks so poorly don't these people go to Germany France or Britain? The answer is simple.They know they will never get the same quaility of care as in the US.Socialize medicine wherever it is practiced provides inferior care and long wait times.And where do you get the tens of thousands figure?

[MsZeitgeist85]

@chrycohauler Why are they anit american? Becasue they tell an inconvienant truth? People come here when there is a shortage of doctors or under a abmormal circumstances. That is beside the point. The point is who pays for it? Answer: the Goverment Single Payer system. The only people that pay out of pocket for care in the US are people that come for elective care. It is not the provider it is the payer. Got it

[MsZeitgeist85]

@chrycohauler My sources were last years Harvard Study that showed 45 thousand Americans die each year because insurance companys will not cover them. Another study showed another 18 thousand die each year that did have coverage. Go read the study that was in every paper last year that showed 62% of all bankruptcys in the US were due to medical costs. How many medical bankruptcys were there in Canada? ZERO.

[chrycohauler]

@MsZeitgeist85 and how many people have wain Canada for something as simple as an MRI. The average wait time for an MRI in Canada is 18 weeks..wonderful when you get a cancer diagnosis.as regards to the bankruptcy.though not wanting to sound heartless.health care IS not a right..it is an obligation of the individual.and why are health care cost so high in the US.who pays for all the indigent people going to ER rooms for treatmnent? Is the hospital expected to absorb those cost?NO they pass it on

[MsZeitgeist85]

@chrycohauler You are pulling made up bullshit out of your ass. The average wait time for an MRI in Canada is 3 weeks. It costs less than 100$ there while it costs 1400$ here. So you think that it not a right. I would like to hear you say that if you lost a limb in a car crash and had to pay 1600$ for a 9 mile ambulance ride, when you would pay nothing in Canada. What kind of system allowed people to ether die or go decades into debt if something happens to them that is not their fault?

[chrycohauler]

@MsZeitgeist85 when was the last time you had treatment in Canada.if anyone is pulling made up bullshit it's you.your example of the car crash proves you own stupidity.Auto insurance would cover all the cost.Again you fail to see that health care in Canada is not free.especially the ambulance ride which IS NOT coveraed by any provincial plan.so before you go throwing out bogus or misleading facts..GET YOUR FACTS STRAIGHT.the onus is not on the state or society to take care of your health.FREEDOM

[MsZeitgeist85]

@chrycohauler How fucking stupid are you.IF YOU ARE TENS OF THOUSANDS OF DOLLARS IN DEBT YOU ARE NOT FREE.

Canadian's spend less money than us, cover everybody and don't have 63k people dying a year.

So tell me why are other first world developed nations not using Freedman's for profit health insurance for primary care?

BECAUSE THEY KNOW MILTON FREEDMAN WAS A CHARLATAN.

[chrycohauler]

@MsZeitgeist85 Why?because you and people like you hate freedom.you want to be wards of the state..well my freind you stand in line for substandard health care because under Obama care it's coming.so tell me how you solve the problem of adding the so called 40 million uninsured( a number that is really closer to 12 million).where will the beds come from where will the doctors and nures come from.you will get what Canada has.limited choices few specialists and long lines.HEALTHCARE IS NOT A RIGHT

[MsZeitgeist85]

@chrycohauler I didn't want what was in the Health Care reform bill. I want Single Payer. The were will the 40 million beds come from is a falatious argument because Single Payer will mean that people will get primary care they do not get when the HMOs say no. This means that will catch things early on so they will not need those beds in the first place.

Since you are such an expert on Canada why don't you tell me who Canadians voted on in 2004 as the greatest Canadian of all time?

[chrycohauler]

@MsZeitgeist85 your question is easy..Tommy Douglas..a socialist who is one of the forefathers of what is now the NDP in Canada..another group that practices class envy just like you do.a whiner that fees you are entitled to whatever someone else can afford and you can't.Show me anywhere in the Constitution where it spells out your right to healthcare..you can't because it doesn't exist.With all your bitching about US healthcare..why are you still living here? because you know it's the best.

[MsZeitgeist85]

@chrycohauler Of course rich like Freedman would say we have "the best system in the world" That is because they don't have to use it.

Canada has a higher standard of living than the US and they have recovered almost all of the jobs lost in the recession and they didn't have a banking crash. The banking crash was caused by the Freedmanite flunkee Senator Phil Gramm.

[chrycohauler]

@MsZeitgeist85 actually if your were an honest true thinker you would know that the banking crisis was caused by thing like the Community Reinvestment Act and Freddie and Fanny..and if you are such an astute scholar of history you would know that Bush warned in 2003 that here was trouble ahead for F & F but the the right honorable Barney Frank said all was well and that Bush was looking for a crisis where non existed.and the mess we are in now because of out of control spending is on Obama

[MsZeitgeist85]

@chrycohauler Wrong on all counts. 1. The bank crisis was caused by Phil Gramm dismantling the Glass Stegal Act. 2. The housing crisis caused by subprime loans, the NINJA loans and Liar loans had little to do with Fannie and Freddie. This was private non bank lenders like Countrywide Financial. They were doing this for profits not because the goverment told them to under the community reinvestment act. Go look up Berry Riddles, he dubunks all of this bullshit that the Gov caused this.

[FletchforFreedom]

Your grasp of economics is worse than that of health care. Glass Steagal demonstrably had NOTHING to do with the crisis. The bubble (and resulting sub-primes) resulted from the Fed flooding the economy with liquidity and Fannie and Freddie exacerbated the problem by creating an artificial market for riskier mortgages. The failure was entirely of governmnet making.

[MsZeitgeist85]

@FletchforFreedom I didn't say anythong about the fed. These people that made the bulk of the loas WERE NOT BANKS.

Also the Federal Reserve is not Federal and has no Reserve. The gov does not controll them.

I think you should quit now.

[FletchforFreedom]

That the bulk of lenders were not banks is irrelevant to the issue. That the Ferderal Reserve has no Reserve is true.  That it is not federal is false. The private ownership is irrelevant to the issue; it is a governmentally maintained monopoly that functions as an arm of government. The nature of the Fed and its "member" banks all stems from that government maintained monopoly.

And sure you wish I'd quit now; you can't be happy about having the flaws in your argumnets exposed.

[MsZeitgeist85]

@chrycohauler Ok lets look at the facts behind your claim. Federal Reserve Board Data shows 1. 84% of subprime mortgages in 2006 were from private lending institutions. 2. Private firms made 83% of loans to low income borrowers that year. 3. Only one of the top 25 subprime lenders in 06 was directly subject to the housing law that is being lambasted by Free Market critics today.

Fannie and Freddie were semi privatized in the 60s and were not even in the top 25.

Argument Obliterated.

[FletchforFreedom]

That the CRA was an economic drag is certainly true though not the main driver of the crisis. But only the most blithering of idiots so disconnected from reality that one might wonder if they are no longer soiling themselves can fail to grasp that the "semi-privatization" of Fannie, Freddie or the Fed ever made them any less government institutions.

You didn't obliterate anything but your own credibility.

[MsZeitgeist85]

@chrycohauler If Freedman thinks that for profit health insurance for primary care is such a great sucess then other countrys would copy this model. Can you name one other country that uses this today? Didn't think so.

[chrycohauler]

@MsZeitgeist85 Because the US people understand that the sociualist model of healthcare is an abject failure.No innovation waiting times poor sanitary conditons in hospitals..you may think Canada has free health care but where do you think the gov't gets the money from? thru confiscatory taxes.let me decide what kind of health care I want.I,like many other have grown tired of the nanny state.I don't want cradle to grave protection.just from the gov't.everything they touch turns to shit...GOT IT?

[MsZeitgeist85]

@chrycohauler 1. You completly dodged the question I asked? Nationalized Healthcare that was desighned by Lord William Beverage in England in 1944 is the most sucessfull and most used model in the world. How many countrys have used Freedman's for profit insurance model? ZERO 2. Innovation of life saving pattons and products is financed by The National Institute of Health (your tax dollars) NOT corporate profits. 3. Single Payer is not free, tax dollars pay for it. You loose.

[chrycohauler]

@MsZeitgeist85 and why should I or anyone else pay for your healthcare..same liberal diatribe time after time..answer my question and I'll answer yours..and by the way.Britain's healthcare system is bankrupt just like every other socialized system of medicine.so do a fovor and answer the question..why should I or anyone else pay for your healthcare?

[MsZeitgeist85]

@chrycohauler 1. In a Single Payer system you pay for their care and they pay for your care, this is not a one way street. 2. Britian's NHS is not going broke it has been on a budget freeze since Thatcher's years. Even then Thatcher argued for price controll to create sustainability. 3. This issue is for-profit insurance for primary care. Every other country that has a better system has outlawed for-profit insurance for good reason. You didn't get it and you still do not get it. 

[undermyvoodoo22]

I could watch Milton Friedman all day......

[frostedpornflakes]

@collapseofthedollar Can anyone confirm this link i don't like going to websites linked by 1 stranger feel better if more people recommended it

[MadisonInChains]

read my comments from bottom to top

[MadisonInChains]

I am going to interject in this argument, because I believe that the solution can be both a combination of free market enterprise and a public option to assist those in dire need ( Milton's connection with flood insurance and property insurance).

A free market approach will include the complete and total desturction of the employer-based health insurance, a national market with simple regulations and standards that include no discrimination with those who have a pre-existing conditions.

[MadisonInChains]

no increase in premiums for any reason with the exception of the need to change contracts, plans, or index for inflation.

Also, Milton calls for co-insurance agreements which I believe would mean that an employee can contract with their employer to assist with the costs (like how we pay for SS and Medicare). This means the deduction from our paychecks to pay for insurance.

Now, the public option must be a non-for-profit option that would include people in poverty or low income

[MadisonInChains]

and those (like myself) who have inately distrusted health insurance companies in providing their services.

[magnito6696]

the truth is that medicare and medicaid don't screen out people unlike insurance, and this is one of the reasons that the programs are so expensive. I'm a free market proponent but I also don't ignore facts.

also Pkenans, the point I made earlier was not to say that governments should be creating programs for a profit, but to serve the needs of the citizens. there is a reason we don't leave many things to the free market

ie. Police, Firemen, (military is pseudo private)

[magnito6696]

by pseudo private i mean that the government doesn't force you to join, they compete with the free market in order to gain recruits.

We can thank Friedman for that.

[girzwald3]

They dont compete with the free market. Because they don't have to play by the rules of the free market. Such as providing a desirable product or service, pleasing their customers and most importantly...staying in the black. The government doesn't have to do any of those.

They get to cheat.

Want the best example possible? Go complain about someone who was rude to you at target. You'll get results.

Now go do it at the DMV.

Thats your healthcare coming up.

[Vertigo3TC]

that's false. Medicare denies more claims than private insurers do

[magnito6696]

I agree with the fact that Obama's plan will eventually lead to a single payer system, but before we dismiss the idea of a single payer system lets look at the fact. A proxy for this type of system would be Medicare and Medicaid. No one can seriously say that the service of these government systems are bad, the only problem with these systems are the costs.

we need to address the costs of a new system and not this silly idea of an inefficient government program that rations care.

[wkruk1979]

friedman is DEAD!!!!! god bless america

[stagesix6]

his ideas arent

[wkruk1979]

they must be they are not enacted even by the slave loving low paying republicans

[magnito6696]

I guess Milton is for Obama's plan.

The reason I say this is because Obama's plan will give people a choice between a government insurance system and a private system. the introduction of a not for profit entity will effectively force insurers to lower premiums and deny less claims because if people are not satisfied with the coverage they are currently receiving they could just join the government program. this would incentive's insurance companies to change.

Competition drives innovation.

[elmoslanz]

really? did you listen to what he was saying?

[fzqlcs]

A public option is not a competitive force, but rather the first step of an incremental takeover. No private for-profit business can compete with one which is funded by unlimited taxpayer subsidy, like this public option. That is not competition at all, but exactly the type of government intervention Milton always deplored. Your analysis of Friedman is as valid as a monkey's analysis of Einstein.

[playmayker88]

you are eating up that liberal garbage like a good drone u are.

There's no "choice" in govt run programs. Govt decides all. And if you keep your own plan, then your still footing the bill for the rest of the people Obama describes as dying in the streets.

This is a sham. Its a power grab, just like every other massive socialist program he's put forth.

He talks about a depression under Bush..well he's spending 5 times more than Bush and getting LESS done.

Obama is a Joke

[dpevsner]

You really need to take an econ class. The thousands of health insurance companies can't compete across state lines, which is a huge problem. Plus it is impossible to "compete" with the government. If you want competition, free the market and get government out of the way...

[pkenans]

magnito: do you seriously agree with what you are saying? are you saying that there currently are no not for profits in the health care business? and does a government insurance system effectively increase competition, or impede it? just keep in mind that the government isn't required to adhere to the economics of business, and p/l models. for proof, just look at the post office, or any other gov agency. can you name a single gov entity that actually makes a profit, or even breaks even?

[lashkaretoiba]

The word Brilliant doesn't even do this man justice. Watch the freedom to choose debates at the end of ever sigment. The man was a BEAST

who devoured any socialist who opposed the free-market.

[drkangravewing]

Still right on!

[soundmoneyfan]

the man was right on about everything except money!

[fzqlcs]

The old boy came around in the end. He wound up advocating abolition of the FED, though for most of his life, he believed it could serve a useful purpose. See the video "Milton Friedman - Abolish the FED," where a 92-year old Milty shares his final judgment.

[yadranko]

Timeless indeed!

[RoronoaZoro222]

Milton Friedman is brilliant!

[Hernanpfl]

@RoronoaZoro222

was he is dead.

Some people love it to much though...