Archive - Jun 22, 2014

One of our favorite lines about the current oligarch theft continuing to occur throughout the world is courtesy of the “Artist Taxi Driver,” who likes to state: “This is not a recession its a robbery.” Truer words were never said, but this theft goes back a lot further than the latest economic catastrophe. As we all know by now, real median wages haven’t increased in the U.S. for the past 45 years, while at the same time, so-called economic growth according to traditional metrics has exploded higher. As yesterday’s article from the Guardian below demonstrates, this is not just an American problem. It is pervasive throughout the Western world. So what happened?

Back in 2006, after the second US invasion of Iraq culminated if not with the discovery of the WMDs (which were the pretext for the invasion in the first place), but the unearthing (literally) and kangaroo court trial of Saddam Hussein, the US was quick to announce "mission accomplished." Recent events have made a mockery of that claim, however what is truly the straw that broke the back of poetic justice, to mix metaphors, are reports from local media that as part of its blitzcampaign to take over northern Iraq, ISIS found and the promptly executed Rauf Rashid Abd al-Rahman, the judge who sentenced Saddam to death: a death which to many was the crowning moment of the second US invasion of Iraq, and the confirmation of successful US foreign policy.

One month ago we showed that when it comes to the cost of basic (and not so basic) health insurance, the US is by far the most expensive country in the world and certainly among its "wealthy-nation"peers. It would be logical then to think that as a result of this premium - the biggest in the world - the quality of the healthcare offered in the US among the best, if not the best, in the world. Unfortunately, that would be wrong and, in fact, the reality is the complete opposite: as a recent study by the Commonweath Fund, looking at how the US healthcare system compares internationally, finds, "the U.S. fails to achieve better health outcomes than the other countries, and as shown in the earlier editions, the U.S. is last or near last on dimensions of access, efficiency, and equity." In other words: most expensive, yet worst in the developed world.

Hubby in the basement, golfing on the Internet...