Gen Z have 86% less purchasing power compared to baby boomers in their twenties

Post by xadhominemx » Tue, Aug 16, 2022, 12:10 AM UTC

WalterBright wrote: post #168

telchior wrote: post #59

One of the items this article doesn't cover is healthcare spending, which has increased between 2 and 8 times since 1980 (depending on whether you're looking at individual spending or share of GDP). Here's a decent collection of charts: https://www.healthsystemtracker.org/chart-collection/u-s-spe... It has been shocking to me to see how cheap and effective healthcare can be in other countries, from an emergency visit…

Healthcare costs increased in step with inflation until 1968, when the rate increased dramatically and never slowed down. What happened in 1968? LBJ's Great Society massive efforts at free medical care started. The same thing happened with college tuition. Government attempts to reduce its costs resulted in greatly expanded costliness. The most expensive things in the world are government provided "free" stuff.

Post by WalterBright » Tue, Aug 16, 2022, 12:10 AM UTC

slg wrote: post #144

telchior wrote: post #59

One of the items this article doesn't cover is healthcare spending, which has increased between 2 and 8 times since 1980 (depending on whether you're looking at individual spending or share of GDP). Here's a decent collection of charts: https://www.healthsystemtracker.org/chart-collection/u-s-spe... It has been shocking to me to see how cheap and effective healthcare can be in other countries, from an emergency visit…

This is all true, but I am guessing the article skipped it because rising healthcare costs likely impact Gen Z much less than the population overall. Obamacare has allowed children to stay on their parent's insurance for much longer. All of Gen Z is still young enough to qualify for that, so as a generation they haven't felt the full cost of seeking insurance independently. Plus the overturning of the personal mandat…

Post by ghiculescu » Tue, Aug 16, 2022, 12:13 AM UTC

bawolff wrote: post #160

curo wrote: post #153

Earlier quoted context omitted.

I've heard this so often yet we left the UK for no other reason than the healthcare. My wife was pregnant and the experience from 0-7 months was so terrible, we flew to the US to have the child. Post-operative outcomes and survival rates in the US are far better than in the UK and many European countries. Statistics about better birth outcomes or higher longevity is best attributed to healthier lifestyles in Europe/U…

I don't think anyone disputes that us healthcare is better if you have the money.

Post by WalterBright » Tue, Aug 16, 2022, 12:14 AM UTC

tstrimple wrote: post #146

ekianjo wrote: post #107

Earlier quoted context omitted.

> healthcare per capita than any other OECD nation. You also need to mention that the US is not like any other OECD nation. It also happens to he the nation with the largest innovation in Healthcare, and not just by a little. By Far.

Is your theory that medical research and innovation is why it's so outrageously expensive to get stitches to close a wound?

Post by troebr » Tue, Aug 16, 2022, 12:15 AM UTC

ekianjo wrote: post #102

telchior wrote: post #59

One of the items this article doesn't cover is healthcare spending, which has increased between 2 and 8 times since 1980 (depending on whether you're looking at individual spending or share of GDP). Here's a decent collection of charts: https://www.healthsystemtracker.org/chart-collection/u-s-spe... It has been shocking to me to see how cheap and effective healthcare can be in other countries, from an emergency visit…

> In the US, healthcare is effectively a collection of cartels Not just in the US. For example there's a huge glasses cartel in France with specialists that are protected by the government and make pairs of glasses cost 500~1000 USD with very little reimbursement, while in Japan private companies (that actually compete against each other's) let you have glasses for 60~70 USD all included. You are literally better off…