Next to pop: the healthcare bubble

Posted on January 12, 2012 by

Market Ticker reports on a NY Daily news item that covers one of Denninger’s pet-peeves: American health care is a fraudulent and unsustainable system.

Services contracted without a price?  Billing someone for services where they are in no position to negotiate before service is provided at nearly ten times what you later accept — from certain “favored” people — while you chase everyone else for the “full” price?… This would run afoul of deceptive trade practices legislation virtually everywhere in any State.  You’d never get away with running a grocery store this way, or a cellphone company, or for that matter a hair salon.

It would be bad enough if the pricing was “just” 10x as high.  But in some cases it’s even worse… If you want to know why our government is going broke and our financial system is headed for collapse within the next several years the reason is found right here. This entire portion of our economy has become so imbued with graft, cost-shifting and scams that it is literally bankrupting everyone.