Aug. 19 (Bloomberg) -- Pacific Investment Management Co., which runs the worldâ??s biggest bond fund, said the dollar will weaken as the U.S. pumps â??massiveâ?? amounts of money into the economy.
The dollar will drop the most against emerging-market counterparts, Curtis A. Mewbourne, a Pimco portfolio manager, wrote in a report on the companyâ??s Web site. The greenback is losing its status as the worldâ??s reserve currency, he said.
Hmmmm...we're destroying our currency, running up unimaginable debts, the Obama White House is collecting email addresses like Big Brother and trying to ruin the best healthcare system in the world. States are legalizing homosexual marriage (hence destroying the meaning of marriage) while their budgetary collapse closes down cities and states...
Chime in Lixy and all the others...we want to know if you're happy.
One big reason our life expectancy lags is that Americans have an unusual tendency to perish in homicides or accidents. We are 12 times more likely than the Japanese to be murdered and nearly twice as likely to be killed in auto wrecks.
In their 2006 book, The Business of Health, economists Robert L. Ohsfeldt and John E. Schneider set out to determine where the U.S. would rank in life span among developed nations if homicides and accidents are factored out. Their answer? First place.
That discovery indicates our health care system is doing a poor job of preventing shootouts and drunk driving but a good job of healing the sick. All those universal-care systems in Canada and Europe may sound like Health Heaven, but they fall short of our model when it comes to combating life-threatening diseases.
The notion is politically significant. The U.S.â??s poor ranking in life expectancy is a key tenet in filmmaker Michael Mooreâ??s excoriation of American health care in â??Sicko,â?? and in calls by reformers for broader access to medical care â?? calls being heeded by the leading Democratic presidential candidates. Yet the U.S. has an unusually high rate of deaths from accidents and homicides, compared with other developed countries. (For instance, transport-accident deaths are three times higher in the U.S. than in the U.K., according to the World Health Organization, while the murder rate is 10 to 12 times greater.) Subtract out these deaths and suicide â?? where the U.S. is at or below average â?? and the American health-care system doesnâ??t look so bad. Hence, the adjusted life-expectancy rankings have been mentioned in several conservative publications critical of health-care reform, including National Review and City Journal.
But there are several shortcomings to this analysis. First, death rates from accidents, homicides and suicide are dependent not only on how many people suffer injuries from such events but also on how effective the health-care system is at averting death in borderline cases (a point I made in a column earlier this year). Various factors influence that success rate; one of them is the distance emergency services must travel to reach victims, in which population density comes into play and the relatively spread-out U.S. is at a disadvantage.
Also, the authors didnâ??t directly adjust for these deaths. Instead, Dr. Ohsfeldt and Dr. Schneider performed a statistical calculation, called a regression, to estimate how much mortality rates from homicide, suicide and accident influenced mortality, on average, from 1980-1999 in 29 of the 30 developed countries in the Organisation for Economic Co-operation and Development (they skipped tiny Luxembourg). Then they adjusted life-expectancy stats to get a rough handle on what life expectancy would have been like had the rates of these deaths been the same in all 29 countries. Their result: The U.S. would have ranked first, at 76.9 years of life expectancy â?? an increase of 1.6 years. Meanwhile, Japan fell from 78.7 years to 76 years, indicating it had been benefiting inordinately from low rates of accidental deaths and homicides. (You can see a partial list at this blog.)
Hey, if medical tourism catches on American law might even change to the "English system". What ambulance chaser would sue someone in the Philippines? Those people could be cheaper because of their more competitive law system alone.