Group items tagged

Since the S.&P. 500 first reached its current level, in March 2000, the mad money printers at the Federal Reserve have expanded their balance sheet sixfold (to $3.2 trillion from $500 billion). Yet during that stretch, economic output has grown by an average of 1.7 percent a year (the slowest since the Civil War); real business investment has crawled forward at only 0.8 percent per year; and the payroll job count has crept up at a negligible 0.1 percent annually. Real median family income growth has dropped 8 percent, and the number of full-time middle class jobs, 6 percent. The real net worth of the "bottom" 90 percent has dropped by one-fourth. The number of food stamp and disability aid recipients has more than doubled, to 59 million, about one in five Americans. That, of course, will never happen because there are trillions of dollars of assets, from Shanghai skyscrapers to Fortune 1000 stocks to the latest housing market "recovery," artificially propped up by the Fed's interest-rate repression. The United States is broke - fiscally, morally, intellectually - and the Fed has incited a global currency war (Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling) that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.

'A few drugs - such as beta-blockers, statins and glycogen control medications - have proved very effective at managing hypertension, heart disease, diabetes and strokes. Most insurance plans charge something for them. Why not make drugs like these free? Not for everyone, but just the groups for whom they are provably effective. In traditional economics, such a policy creates waste. The basic principle is moral hazard: consumers overuse goods that are subsidized. But people don't always follow a cost-benefit logic. The problem is basic human psychology. Heart disease is silent, with few noticeable symptoms. You feel fine most of the time, so it's all too easy to justify skipping the statin. The problem here is the exact opposite of moral hazard. People are not overusing ineffective drugs; they are underusing highly effective ones. This is a quandary that ... call "behavioral hazard." We've found that co-payments do not resolve behavioral hazard. They make it worse. They reduce the use of a drug that is already underused. My proposal is targeted: Take drugs that are shown to be of very high benefit to some people, and make those drugs free for them. All co-pays should depend on measured medical value; high co-pays should be reserved for drugs and medical services that have little proven value. Why not focus instead on the behaviors - eating unhealthy foods or shunning exercise - that created the conditions we must now treat with drugs? [This]has some merit. But [it] fails the "perfect as the enemy of the good" test.

'Some atheists have even gone public with their own prayer-for-health's-sake practice. Sigfried Gold, (recent subject in Washington Post) is a thoughtful, articulate 50-y.o. man who lives in Takoma Park, Md., He long ago decided that there was no stuff in the universe that was not physical - no supernatural, no divine. So he joined a 12-step program to control his food addiction. One of the steps is to turn your problem over to a higher power. So Mr. Gold created a god he doesn't believe exists: a large African-American lesbian. Every day Mr. Gold dropped to his knees to pray, and every day he spent 30 minutes in meditative quiet time. These days Mr. Gold, who calls himself a "born-again atheist," doesn't smoke. He doesn't drink. And, at 5 feet 7 inches, he weighs 150 pounds. So is there a downside? There were times when people got so engrossed with prayer that they seemed almost addicted - so compelled to pray that they could not stop. Some called this "puking" prayer. Whom does this intense imaginative immersion put at risk, and when? A study of the popular Internet game World of Warcraft suggests an intriguing answer. The anthropologist Jeffrey G. Snodgrass and his colleagues set out to study this complex social world. They found people who were relaxed and soothed by their play: "Sometimes I just log on late at night and go out by myself and listen to the soothing music." Others felt addicted: "Once I start playing it's hard to tell whether or not I'll have the willpower to stop." What made the difference was whether people found their primary sense of self inside the game or in the world. When play seemed more important than the real world did, they felt addicted; when it enhanced their experience of reality outside the game, they felt soothed. Prayer works in similar ways. When people use prayer to enhance their real-word selves, they feel good. When it disconnects them from the everyday, as it did for the

In Haiti, more than half of food distributions go through religious groups like World Vision that have indispensable networks on the ground. [Liberal snobs who sneer at] faith-based organizationstypically give away far less money than evangelicals. They're also less likely to spend vacations volunteering at, say, a school or a clinic in Rwanda.