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Here Is What Americans Spent Their "Gas Savings" On

Tyler Durden's picture




 

Last quarter, in "This Is What Americans Spent The Most Money On In Q4" we showed that according to the first estimate of Q4 GDP data, the American consumer spent a whopping $20.4 billion in nominal dollars on healthcare, which also resulted in the biggest consumption contribution to GDP in years.

Today, following the first revision of consumer spending, we learn that in the fourth quarter Americans spent even more on healthcare, pushing the total up by $1 billion more, to a whopping $21.4 Bn, or 18% of all spending on goods and services in Q4.

This upward revision on healthcare, of which Obamacare was the primary source of mandatory spending, takes places even as the bulk of the key spending line items were revised lower following the revision.

In any event, the math is clear - the next time anyone asks you what Americans spent their so-called "gas savings" on in Q4, and why retail sales in the end of 2014 (and the start of 2015) were so weak, show them this chart.

Source: BEA

 

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Fri, 02/27/2015 - 15:30 | 5836291 cornflakesdisease
cornflakesdisease's picture

Hmm.  If it had been a Ford, it would have burst into flames in your garage while you were sleeping, and you would have been killed.  It is had been a Chevy, it would have broken down for the 7th time this month, you wouldn;t have been able to get to your job, and you would have no way to pay the light bill, so you wouldn't be on the computer right now, so . . . . . .

Fri, 02/27/2015 - 11:59 | 5835514 El Vaquero
El Vaquero's picture

Bring back the straight sixes!

Fri, 02/27/2015 - 12:26 | 5835625 clade7
clade7's picture

Hudson had a sweet straight 6!...the little slant 6 'deuce and a quarter' in the Plymouth was a tough little engine...easy as piss to work on...

Fri, 02/27/2015 - 13:29 | 5835880 El Vaquero
El Vaquero's picture

I love my 4.0IL6.  Low end, it's like driving a naturally aspirated diesel, yet it doesn't blow up if it goes above 3300 rpm.  For whatever reason, they have a very broad torque curve.  It makes the stories of 800hp 300 straight sixes in a car seem rather scary to drive.  Straight sixes are naturally balanced too. 

Fri, 02/27/2015 - 16:57 | 5836645 Clark Bent
Clark Bent's picture

Mavericks all lasted about thirty years with their slant sixes. I think they all finally disappeared in the late nineties. 

Fri, 02/27/2015 - 10:26 | 5835056 Dr. Engali
Dr. Engali's picture

I spent mine on silver. Today I will spend some on that semi-precious metal......jacketed lead. 

Fri, 02/27/2015 - 10:32 | 5835091 Thirst Mutilator
Thirst Mutilator's picture

Wait! Are you me? This is getting weird.

Fri, 02/27/2015 - 10:32 | 5835092 Chupacabra-322
Chupacabra-322's picture

Thanks for the ti vestment advice Dr. I'm going to follow suit.

Fri, 02/27/2015 - 10:35 | 5835108 tnquake
tnquake's picture

Yep, had a lead delivery earlier this week since my fuel is unleaded! 

Fri, 02/27/2015 - 11:15 | 5835323 mendolover
mendolover's picture

If it's going in an AR you better get it fast.

http://www.washingtonexaminer.com/article/2560750

Fri, 02/27/2015 - 15:30 | 5836295 cornflakesdisease
cornflakesdisease's picture

No penile enhancement pills?

Fri, 02/27/2015 - 10:27 | 5835068 Bumbu Sauce
Bumbu Sauce's picture

You no longer have any choice if you want to live.  Progtards totally  fucked you Americans.  Bring on the gulags and chekists.  Let's get this thing hot NOW.

Fri, 02/27/2015 - 10:31 | 5835069 KashNCarry
KashNCarry's picture

I'll take Recreation Services' for $50 billion Tyler:

I went through my second mid-life crisis and spent it on the 'Recreation Services' category: Strippers, booze and whores, not necessarily in that order...

Fri, 02/27/2015 - 10:32 | 5835096 FreeShitter
FreeShitter's picture

Gotta have pussy.

Fri, 02/27/2015 - 10:51 | 5835199 SethDealer
SethDealer's picture

smartest comment ever

Fri, 02/27/2015 - 13:54 | 5835974 Buster Cherry
Buster Cherry's picture

Jack Handy can get you through the worst of the cravings.

Fri, 02/27/2015 - 10:28 | 5835070 toady
toady's picture

I don't have to drive to work anymore, so I didn't save as much.

It's not fair!

Fri, 02/27/2015 - 10:41 | 5835148 onewayticket2
onewayticket2's picture

i swithced to a prius.....and electric rates are UP.  I deserve a subsidy.

 

/s

Fri, 02/27/2015 - 10:28 | 5835073 Monetas
Monetas's picture

Tesla's ?  

Fri, 02/27/2015 - 10:29 | 5835076 roadhazard
roadhazard's picture

The source of this chart is ZH. OK...

Fri, 02/27/2015 - 10:43 | 5835159 Rainman
Rainman's picture

Put on your reading glasses and find the letters B E A

Fri, 02/27/2015 - 12:06 | 5835539 Dr. Engali
Dr. Engali's picture

Reading is hard.

Fri, 02/27/2015 - 10:29 | 5835078 youngman
youngman's picture

and its going to get worse....wait until the tax penalities are a graph item...I bet that gets up there to the top of the graph too...Obamacare..what a joke...and there is a stry how the HHS just gave insurance companies 3 billion ...un approved by congress....just gave it to them...lol....we have no rule of law anymore....its steal it now..before its gone...just like in Greece

Fri, 02/27/2015 - 10:34 | 5835103 847328_3527
847328_3527's picture

"Tax and Spend....."

 

 

Fri, 02/27/2015 - 10:41 | 5835150 plane jain
plane jain's picture

"Spend and Tax"

The other way 'round implies spending money that has already been collected.

Fri, 02/27/2015 - 15:17 | 5836256 TeethVillage88s
TeethVillage88s's picture

yeah. Look like Felony and people should at least lose their jobs.

http://www.americanthinker.com/blog/2015/02/hhs_pays_obamacare_insurers_...

Fri, 02/27/2015 - 10:29 | 5835080 bmr22
bmr22's picture

 Thank goodnes we are so poor on paper that we are exempt from having to buy that worthless Obamacare crap. That being said we live a good life out in the country heating with wood, hunting and growing our food and minimal life expenses. Debt free is the way to be!

Fri, 02/27/2015 - 11:37 | 5835423 SmallerGovNow2
SmallerGovNow2's picture

EPA is going to ban your heating with wood...

Fri, 02/27/2015 - 15:09 | 5836232 TeethVillage88s
TeethVillage88s's picture

Did they ban coal burning in your stove??

I had a house where we did that for the kitchen and main room like 30 years ago.

Fri, 02/27/2015 - 17:02 | 5836666 Clark Bent
Clark Bent's picture

Stoves are soon to be illegal, the Progressives tried to pass their global warming bill that would require you to dismantle an woodburner. They just missed, but they'll get it nect time. Just as soon as this damned ice age quits they should have no trouble finishing the job on hoax climate change. 

Fri, 02/27/2015 - 17:02 | 5836668 Clark Bent
Clark Bent's picture

Stoves are soon to be illegal, the Progressives tried to pass their global warming bill that would require you to dismantle an woodburner. They just missed, but they'll get it nect time. Just as soon as this damned ice age quits they should have no trouble finishing the job on hoax climate change. 

Fri, 02/27/2015 - 10:30 | 5835081 B2u
B2u's picture

I spent my savings on hookers and blow...

Fri, 02/27/2015 - 10:34 | 5835101 youngman
youngman's picture

That is a GDP item in some countries.....

Fri, 02/27/2015 - 10:42 | 5835156 knukles
knukles's picture

We'd never stoop that low.  We just use "intangibles"

Fri, 02/27/2015 - 11:10 | 5835298 mendolover
mendolover's picture

Depreciation on a hooker is a bitch!

Fri, 02/27/2015 - 11:06 | 5835282 silentboom
silentboom's picture

"I spent my savings on hookers and blow..." the rest you wasted.

Fri, 02/27/2015 - 15:32 | 5836303 cornflakesdisease
cornflakesdisease's picture

Oh, your a lobbiest and a person with no moral values of any kind?  Congradulations!  Your the source of the problem in America.

Fri, 02/27/2015 - 10:32 | 5835097 847328_3527
847328_3527's picture

Moar is better, right?

Fri, 02/27/2015 - 10:34 | 5835104 Monetas
Monetas's picture

Food service and accomodations .... up .... food and beverage .... down ..... I got it .... ROOM SERVICE !

Fri, 02/27/2015 - 10:35 | 5835110 mendolover
mendolover's picture

Gas is cheaper but I can't afford a car!  Sooner or later this shit isn't gonna be funny anymore.

Fri, 02/27/2015 - 10:45 | 5835165 plane jain
plane jain's picture

Yes, when did all decent cars go to $20K?

New bare bones models, or used nicer ones, all average around $20K...lowest around $16K.

6 speed manual Ford Fiesta list price $22K? Jaw dropper.

Cash for clunkers for the win.

Fri, 02/27/2015 - 10:58 | 5835235 madcows
madcows's picture

Dude, that's just a commuter car.

we live in snow country.  So, we got an all wheel drive vehicle.  A fucking 4 year old used one in decent shape was $28 grand.  You want a new one?  That'll cost you close to 50 large.  Boy, I sure am glad we saved GMC.

Fri, 02/27/2015 - 11:12 | 5835308 toady
toady's picture

There's no inflation dude.

Fri, 02/27/2015 - 15:12 | 5836191 Grimaldus
Grimaldus's picture

Shop around. I found a 14 yr old Subie Outback with just 70k on it. Paid $6k cash out the door. Spent a little to bring it up to snuff maintenance wise, new fluids everywhere, hoses, belts, and other motor shiz-nizzle, new KYB shocks and new OEM springs. I have two sets of tires and wheels, one set all seasons and the other set with Blizzacks. The bitch is unstoppable on ice/snow with the Blizzacks. Subaru symmetrical AWD is light years ahead of any competition. F**k new and F**k GMC.

Debt slave no moar.

Grimaldus

 

Fri, 02/27/2015 - 10:58 | 5835238 ParkAveFlasher
ParkAveFlasher's picture

Anybody have any hard data on the cost, care, utility and maintenance of a horse or donkey?  Running a comparison over here.

Fri, 02/27/2015 - 13:13 | 5835606 El Vaquero
El Vaquero's picture

A three strand bail of Bermuda is ~$25.  That might last a horse or donkey a week or two.  That's about 120lbs, and then you're probably going to want to supplement with other feed.  Maybe a bit of alfalfa or oats.  That's another 20 bucks a bag.  The Neutrina and Purina seinors are good stuff.  I had a horse live into his 40s on them.  Anybody who knows horses knows that a 40 year old horse is like a 115 year old human.  Some people swear by timothy, but that shit costs twice as much and it is not twice as good.  You can save money by picking the hay up out of the field yourself if you have a truck, trailer and a strong back.  Then there are the vet bills.  Horses are more prone to injuring themselves than donkeys.  You also have to find a ferrior.  Unshod, that's probably another $40 every 6 weeks.

 

Horses also carry about the same risk for injury as dirt bikes.  Dirtbikes are faster, but horses have a mind of their own.  Back when I was a teenager, I was warming a horse up for a vaulting team.  It was a nice crisp fall morning, and I was riding bearback.  I passed the vaulters warming up, they said hi, I got to the end of the street and somebody started up a chainsaw.  This was a percheron-quarterhorse cross.  He had the percheron neck, and I wasn't fully grown.  This is important, because one thing to do when a horse takes off on you is to pull really hard on one rein to pull his head back around to get him under control.  I wasn't strong enough with that percheron neck.  So back past the vaulters we went with me on this bucking horse all the way to the other end of the road.  I looked down at one side, saw pavement, looked down at the other and saw pavement and knew that I didn't want to come off, so after doing everything that I could, I just held on for dear life. 

Fri, 02/27/2015 - 17:05 | 5836689 Clark Bent
Clark Bent's picture

Must have something to do with printing all that money. Oh well the master race doesn't think we should have cars anyway. They want us all in the urban core where we can be watched, and also to civilize the negroes in the useful way that prey tend to soothe predators.   

Fri, 02/27/2015 - 10:36 | 5835117 DutchBoy2015
DutchBoy2015's picture

I spent mine on more solar panels to add to system and Lithium batteries for my electric vehicles that get 600 MPG equivalent.

Goal is total divorce from grid and all transportation electric meaning no more buying of gas or mufflers or oil changes EVERE again.

Fri, 02/27/2015 - 10:39 | 5835136 LawsofPhysics
LawsofPhysics's picture

Many of us have, pay attention to what happens with property taxes...

As municipalities continue to go broke, this will become an issue.

Fri, 02/27/2015 - 12:31 | 5835642 El Vaquero
El Vaquero's picture

Allodial title FTW, BITCHEZ!

 

And a lot of petrolium went into manufacturing all of those "green" options for transportation and whatnot.  They're not actually off the grid options because their manufacture and maintenence depends on the grid.

Fri, 02/27/2015 - 13:48 | 5835945 Buster Cherry
Buster Cherry's picture

That's true, 

 

I get great satisfaction when I take the truck-delivered UPS batteries from some giant oil services companies server rooms that a being changed out to my alternate home to tie into my solar power battery bank. Yeah, I paid for the gas and road taxes consumed by my truck to transport them the 100 miles. After all, they're 110 lb each. 

I also get pleasure from sucking out the old cooking oil thrown out from the cafe's in this office campus. Quite enough really to get the generator to keep the heat and lights on and battery banks charged during those rainy days.

Yeah, those fuel & road taxes are eating me up. I'll just have to reduce my footprint further by finding a deal on a used diesel truck so I can make my own fuel for that.

 

Yeah, that's the ticket.

Fri, 02/27/2015 - 13:53 | 5835972 El Vaquero
El Vaquero's picture

Do what helps you survive for this world and prepare for Mad Max and everything in between.  If the cooking oil for fuel will keep you mobile a few weeks longer than everybody else, you might just have an advantage if SHTF that bad. 

Fri, 02/27/2015 - 13:41 | 5835920 Oldwood
Oldwood's picture

I fully expect the municipalities to be moving into my home and with any luck allowing me to stay in a back room. When they can no longer suck enough cash from our wallets they will attach themselves to our necks.

Fri, 02/27/2015 - 13:56 | 5835985 azusgm
azusgm's picture

Take an even closer look at the school taxes. They are at least double the city taxes. Watch out for the school bonds. School districts are having a building boom. Part of the sell is because interest rates are low. Big deal. The principal is not. Unfortunately, taxpayers often are not able to vote because they are not residents of the jurisdiction, they just own property within the district. Taxation without representation, anyone?

Fri, 02/27/2015 - 13:58 | 5835991 azusgm
azusgm's picture

Oh, and school districts have no access to bankruptcy proceedings. The taxpayers are stuck.

Fri, 02/27/2015 - 15:29 | 5836282 Oldwood
Oldwood's picture

I own a small business with buildings and "personal property" to be taxed in one city while living in an adjacent one. Even if I could vote in my business's district, as a "rich business owner" I would still be a voting "minority" with ultimately no say on much of anything regarding theft of wealth. Unfortunately they have never offered me substantial tax and fee rebates to pursue or retain any business within their boundaries. Evidently, being a miniscule minnow in a big bucket O shit, I'm not highly prized beyond my "incremental" contributions.

And lets not forget, businesses are not people, so they don't have any say, unless they be really really big businesses who can OWN people.

Fri, 02/27/2015 - 11:35 | 5835419 SmallerGovNow2
SmallerGovNow2's picture

congrats.  but you still need tires made from oil...

Fri, 02/27/2015 - 10:36 | 5835121 hotrod
hotrod's picture

Know doubt the rise in deductibles to use the insurance I paid for is killing me.

Fri, 02/27/2015 - 10:37 | 5835126 bullmarket
bullmarket's picture

Chart makes no sense. The consumer received a refund on their Food and Beverage bill. A table dance gets you free food and beverage and then some

Fri, 02/27/2015 - 10:39 | 5835132 Oldwood
Oldwood's picture

Amazing how it was such a crisis that Americans were spending so much of their hard earned income on healthcare. So badly that Obama felt it imperative that government take healthcare off of our shoulders. Now, as healthcare spending goes through the roof, it's all good, as it's spending! GDP! Hurray!!!

Like smoking is bad, so lets fund government with it.

Like booze is bad, so lets fund government with it.

Like carbon fuels are bad so lets fund government with it.

Like gambling is bad so lets fund government with it.

I just can't wait until we have evil pot legalized.

Fri, 02/27/2015 - 10:51 | 5835188 plane jain
plane jain's picture

At least 3 of those are voluntary.

Legalized pot should spread nationwide. Definitely the lesser evil vs. spending on law enforcement and confiscation.

http://www.freep.com/story/news/local/michigan/2015/02/22/civil-asset-fo...

$24 million seized from MI residents in one year. And you don't even have to be charged with any crime, police just need to suspect you of one.

Fri, 02/27/2015 - 10:55 | 5835218 Oldwood
Oldwood's picture

As far as i can tell almost everything is voluntary. My point is that government seeks to profit from that that it demonizes. And it demonizes everything.

Fri, 02/27/2015 - 11:29 | 5835390 plane jain
plane jain's picture

I guess it is theoretically possible to avoid carbon fuels, but not easy. Even if you burn wood for heat, ride you bike, keep a garden, chances are something you purchase had to be transported by truck and the cost of the taxaxtion for that gets passed on in the final price.

Fri, 02/27/2015 - 11:48 | 5835469 Oldwood
Oldwood's picture

The key is to make sure everything we consume is a necessity, including our smartphone. While I'm no pioneer, I am kind of old and can remember a time where virtually none of what we deem necessary today actually was then. Its about directing our perceptions. But yes, I'm as spoiled, addicted or brainwashed as any other.

Fri, 02/27/2015 - 13:16 | 5835820 El Vaquero
El Vaquero's picture

They don't even need to suspect you of one, they just need to state that they suspect you of one (i.e. lie) and then you need to not be able to hire a lawyer or go toe to toe pro se. 

Fri, 02/27/2015 - 17:11 | 5836730 Clark Bent
Clark Bent's picture

They can hire more lawyers, and don't forget the most important lawyer, the one wearing the robe. They hire him/her too. Now with every phone call and keystroke recorded, should not be much trouble to implant a few felonies into your computer and make sure you are easily convictable should you become a problem. 

Fri, 02/27/2015 - 11:21 | 5835345 Caleb Abell
Caleb Abell's picture

In this case, the government isn't funding itself with the extra healthcare costs.  Barry is only forcing you to buy overpriced defective products from the corporations that own him.  It's not socialism, it's "Free Market Capitalism" as practiced in the US.

Fri, 02/27/2015 - 11:55 | 5835491 Oldwood
Oldwood's picture

So they don't tax healthcare, doctors, hospitals, drugs, insurance companies or the income we must earn to pay for it with?

Regardless of whatever the actual monetary benefit is to government, it is still used to drive their theme of recovery, and tax revenues are never the primary consideration. Control is. They tax, they spend, they print, they borrow,  to herd us, to manipulate us directly or subtlely to behave in the desired way.

Fri, 02/27/2015 - 10:50 | 5835184 Darkdoc
Darkdoc's picture

It's not spent on healthcare, but rather healthcare administration.

Fri, 02/27/2015 - 11:00 | 5835247 Hubbs
Hubbs's picture

If that ain't the F'in truth! I am a physician and I can tell you, it is being spent on everything BUT actual health care!!!!

"Health care" is going to surpass the military/defense for the "host with the most" i.e., carrying the greatest parasitic burden.

 

Fri, 02/27/2015 - 10:50 | 5835187 papaswamp
papaswamp's picture

What the CPI said was the hot item, Medical running at 3.9% inflation.

Fri, 02/27/2015 - 11:02 | 5835213 R19
R19's picture

If you like your doctor, you can't keep them and you will pay more. HA

 

Figures that food and beverage would be down under Michelle's lunch program.  Brussel sprouts are good for you.

Fri, 02/27/2015 - 11:13 | 5835313 Caleb Abell
Caleb Abell's picture

If only brussel sprouts were the worse thing the Obamas id to the country.

Fri, 02/27/2015 - 12:31 | 5835639 Emergency Ward
Emergency Ward's picture

You don't get brussel sprouts in that prison-grade Michelle Obama slop they call a school lunch -- at least nothing that you can identify as brussel sprouts.  Rib eyes for the White House, mandatory soylent slop for the PS masses.

Fri, 02/27/2015 - 10:54 | 5835215 MedicalQuack
MedicalQuack's picture

Insurers are right there too for increasing funds for stock buybacks... latest from United Healthcare... hysterectomies now require prior approval and scrutinization...MDs can't make that decision anymore...so where will the savings go I ask?

http://ducknetweb.blogspot.com/2015/02/united-healthcare-to-now-require-prior.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogspot%2FPHZF+%28The+Medical+Quack%29

Here's a further in depth look at how the insurers are using quants as well as actuaries to design policies we buy...look at the classifieds...they have hired armies of them...add the quant model to the actuary and now you get the short (impact of policy on stock) with the actuary long (impact on long term cost)...it's all numbers...

http://ducknetweb.blogspot.com/2014/10/data-scientistsquants-in-health.html

So how many of the insurer quants came from high frequency trading firms we might ponder...look at the models...lots of similarities...

Fri, 02/27/2015 - 11:00 | 5835250 plane jain
plane jain's picture

That seems short sighted for sure. With the usual (and potential) cost of childbirth you would think the health insurers would be offering incentives for voluntary sterilization.

BITD when I was a payroll clerk and asked why women had to pay so much more for health insurance that was the excuse...women can have babies. There is usually a man in there somewhere but hey, women should carry all the expense.

Fri, 02/27/2015 - 12:26 | 5835626 MEAN BUSINESS
MEAN BUSINESS's picture

 

You'd think, but the cost of the incentive (hey! get a free iPhone with your voluntary sterilization! Hurry in today!) is peanuts compared to the cost of the lost lifetime of premiums that little bundle of joy would have ended up paying. Datz BAD4 BUSINESS. And unpatriotic2! and racist and sexist and RUH ROH....

 

Fri, 02/27/2015 - 14:04 | 5836025 azusgm
azusgm's picture

Back in the 60's, the government of India used to give transistor radios to people who would undergo sterilization.

Fri, 02/27/2015 - 19:46 | 5837598 MEAN BUSINESS
MEAN BUSINESS's picture

Yes, that's my point. No business can ever get enough customers it would seem. Governments should not be acting like businesses but they do.

India needs to repay them.

Fri, 02/27/2015 - 11:09 | 5835290 Caleb Abell
Caleb Abell's picture

A few years ago, the HMOs in Florida wanted women to have mastectomies on an outpatient basis.  I guess the next step would be to have them use a drive through window ... like McDonalds.

Did I mention that America has the best medical care system n the world?

Fri, 02/27/2015 - 12:16 | 5835578 Oldwood
Oldwood's picture

I had a lithotripsy (kidney stone treatment) done a couple of months ago, out patient in a hospital, total time there including waking up and walking out was about four hours. Total hospital bill $22,000. Never broke the skin. I believe that was the cost after the insurance company's factoring. The doctor's charge was around $1000. The hospitals are the epicenter of this disaster. Everything is being focused into these large megahospital systems. Doctors are telling me they can't even bill unless they are on staff. Big corporations, big government, all the same gig.

Power   control   monopoly.

Fri, 02/27/2015 - 17:18 | 5836768 Clark Bent
Clark Bent's picture

Power, control, monopoly, collapse, revolution /dictatorship, genocide, external conquest. Rinse, repeat. 

Fri, 02/27/2015 - 10:56 | 5835222 NoWayJose
NoWayJose's picture

The restaurants and grocery stores around where I live must have missed that big red decline in 'food and beverages' prices....  I don't see any!  Wait now -- Beef may be up 21% but alfalfa sprouts were down 25%.  I guess the number crunchers just substituted.

Fri, 02/27/2015 - 11:05 | 5835274 plane jain
plane jain's picture

Prices haven't fallen, just spending because something has to give.

How often do you buy meat anymore? We usually only buy one or two packages a week, ground turkey and most often whatever chicken is on special.

Fri, 02/27/2015 - 11:27 | 5835379 hoist the bs flag
hoist the bs flag's picture

"Beef may be up 21% but alfalfa sprouts were down 25%.  I guess the number crunchers just substituted."

hedonics...priced in. 

Fri, 02/27/2015 - 10:57 | 5835231 Ronan the Accuser
Ronan the Accuser's picture

Rents are rising in nominal terms much faster than gas is dropping.  who cares about saving $80 a month on gas when your rent goes up $500/mt? 

Fri, 02/27/2015 - 10:59 | 5835240 flysofree
flysofree's picture

When I went to High School, 2 of my friends' parents were doctors. We lived in what could be described as mixed neibghorhood. I doubt that many students today going to high school have any friends whose parents are doctors unless they go to the most exclusive schools and live in the most exclusive gated communities.

 

When I look at medical students today, they're not differnt than bankers or lawyers---the same type individuals make a decision if they're going to Wall Street, law school or a medical school.

 

Fri, 02/27/2015 - 12:00 | 5835519 KansasCrude
KansasCrude's picture

Disagree most Med Students are sacrificing a lot of time and money to become Doctors.  Going to Wall Street would be a much faster way to make big bucks, Law School maybe.  The Medical profession has its own pecking order and for the most part Anestetics, Dematology, and Orthapedics are the ones most sited for being in it for the money by the Med students themselves.   With most of the young Doctors getting out of Med School with +$200K in debt best case around age  27 followed by 3-4 years of Residency at around $50K a year they are deferring monetary gratification for a lot of years.   

They spend lots of time and efforts working with the the poor and disadvantaged in most programs at least in the Midwest.  The family docs are most likely not going to be rich better than average but considering you are most likely over 30 when you start making some decent coin thats not the road for most of the narcissitic get rich types.

Fri, 02/27/2015 - 12:17 | 5835587 Oldwood
Oldwood's picture

Doctors used to be a lot of independent contractors. Today most are employees of large corporate groups and hospitals. Smaller independent clinics are being snuffed.

Fri, 02/27/2015 - 13:03 | 5835774 Helix6
Helix6's picture

In this same vein, I once worked at a prestigeous medical school.  As part of a fact-finding study, the incoming class was asked to rank theiir reasons for choosing medicine as a profession.  The possible answers included things like a desire to contribute to medical knowledge, medicine being an honorable profession, personal interest in medicine, wanting to provide a valuable service to society, for the money, and about five other possible reasons (including "other: please explain").  To the institution's shock and dismay, 81% of the respondents listed "for the money" as their first choice.  In other words, practicing medicine per se wasn't the issue.  It was mainly about the money.  And noone seemed to have any problem admitting to that.

Fri, 02/27/2015 - 15:52 | 5836392 mkkby
mkkby's picture

Then they are fools.  Over $250k in student loans, and low paid all nighters during residency years. 

Then you work long hours, high stress, on your feet all day -- an assembly line of patients, new one every 15 minutes.

Hard, high stress work for good but not great pay.  Locked into one state or you have to pass the testing, again.  If you ever decide you've had enough, you've wasted all that training. 

I'll pass.

Fri, 02/27/2015 - 10:59 | 5835241 ChargingHandle
ChargingHandle's picture

ZH make your revision for ammunition and emergency supply expenditures. 

Fri, 02/27/2015 - 11:00 | 5835248 ejblues
ejblues's picture

For what it's worth, I was curious as to what the catgeory "Financial Services and Insurance" included. I discovered, according to the government document on consumer spending, "Medical Care and Hospitilization Insurance", is in the "Financial Services and Insurance" catgeory. So, it could be argued that the "Healthcare" number is even larger than it appears.

Fri, 02/27/2015 - 11:05 | 5835273 asophocles
asophocles's picture

Only Zero Hedge dullards decry low gas prices. Those silly gooses!

Fri, 02/27/2015 - 11:23 | 5835358 therearetoomany...
therearetoomanyidiots's picture

don't think anyone is decrying low gas prices.

we're decrying the fact that despite having to spend less on gas, we're spending 20x what we used to spend on healthcare.

sheesh

Fri, 02/27/2015 - 16:02 | 5836423 mkkby
mkkby's picture

He is intentionally deceiving.  Only a gov prick does that.  Add to the boiled rope list.

Fri, 02/27/2015 - 11:07 | 5835285 Moneyswirth
Moneyswirth's picture

And this is when gas was averaging $2 or less per gallon in the fourth quarter.  Now that gas is creeping up again.  Oof.

Fri, 02/27/2015 - 12:09 | 5835548 Emergency Ward
Emergency Ward's picture

I figured when all the headlines were announcing that oil prices were going to the cellar and would never, ever rise again, it was the time to fill the tank.  (BTW, in my area of SoCaliland the gas price never went below around $2.40.  It's back over $3.00 now)

Fri, 02/27/2015 - 11:10 | 5835294 zenblaster
zenblaster's picture

Once my insurance was cancelled (due to LIARS), the premium went up almost double- with at $10,000 deductible. Not the cheaper insurance I was looking for (DAMN LIARS).  So year, lots of money going to insurance and finding more things NOT covered and places outside of network NOT covered.  Thanks (LYING SACKS OF SHIT)

Fri, 02/27/2015 - 11:21 | 5835348 pragmatic hobo
pragmatic hobo's picture

obamacare is a nice racket for the healthcare industry ... the original debate of accelarating healthcare cost have now completely vanished and the cost is now entirely in the hands of the tax payers ... it is a lot like that 401k racket where reagan sold american retirement to wall-street with wall-street skimming from the top in endless stream of profits ...

Fri, 02/27/2015 - 11:24 | 5835365 overmedicatedun...
overmedicatedundersexed's picture

hobo, your terms are mixed up..healthcare industry is wrong term, the money goes to insurance co's and bearuocrats they touch it first, much like CBanks get the cash first. the providers are being squeezed more each year.

Fri, 02/27/2015 - 11:29 | 5835364 Mi Naem
Mi Naem's picture

OT comedy break-

just noticed this hilarious headline at Kitco:

Robust QE Program Can Stimulate Europe's Economy – Japanese Economist

It's like an emaciated, Walking Dead crack addict looking at you with a straight face and saying "Been smokin' for years, man, and it's been totally cool for me". 

Fri, 02/27/2015 - 11:25 | 5835370 TalkToLind
TalkToLind's picture

Ha the biggest financial drain for most 'Muricans (Fuck Yeah!) is missing from the list:  Income Taxes.

Fri, 02/27/2015 - 11:44 | 5835434 plane jain
plane jain's picture

That is only true if you include FICA. 

80% of Americans Pay More in FICA than Federal Income Tax

http://www.familysecuritymatters.org/publications/detail/80-of-americans...

So if taxes are the biggest drain for the largest number of people then it is the "support the old folks" tax that takes the biggest bite.

Funny how that isn't publicized much.

Oh, and no way that fact isn't related to the fact that we have a much higher percentage of children in poverty. Even the lowest income worker pays in to FICA. Younger workers = lower wages + higher fertility = children in poverty.

Fri, 02/27/2015 - 14:13 | 5836059 azusgm
azusgm's picture

Worked in obstetrics for 20+ years. Can guarantee you that for some of my Medicaid patients, childbearing was a career path and an ingrained cultural expression.

Fri, 02/27/2015 - 17:24 | 5836814 Clark Bent
Clark Bent's picture

Children are voiceless, despite the claims that all this compassion is for the children. A generation is being subjected to child abuse as their government undermines parenting and destroys their future. 

Fri, 02/27/2015 - 11:42 | 5835445 Franktastic
Franktastic's picture

Mr underground here, where we do not buy gov health care from crooks, nor do we pay fines to crooks. The American revolution will not be broadcast,  but rest assure it has started. You hit them in the pocketbook first. Good people are stacking and putting other things ahead, besides what gov suggests for us dumb folks to do. Anyone with eyes wide open, can see the writing on the wall. Prepare for a nwo, brought on by the commoner. Marxism is they're plan...not the dreams of freedom lovers.

 

 

Fri, 02/27/2015 - 11:55 | 5835487 geekz_rule
geekz_rule's picture

i totally agreed with your point.. until the end. I suggest marxism is not the plan- monopoly is. w va coal mine conditions for everyone. ( seen in the wall st exported method of company dorms at china factories )

Fri, 02/27/2015 - 11:59 | 5835513 overmedicatedun...
overmedicatedundersexed's picture

you load 16 tons and what do you get? another day older and deeper in debt.  that is working man's blues

Fri, 02/27/2015 - 12:05 | 5835531 clade7
clade7's picture

"Blue Tarp Blues" by Sonny Lofgren (sp) is a killer riff...With Mark Knopfler accompanying...its the future..

Fri, 02/27/2015 - 12:14 | 5835567 Shitgum Suicide
Shitgum Suicide's picture

Actually that is the plan of the Marxists. If you read the communist manifesto Marx specifically describes the objective of a one world government where their are no towns, cities, or states. He also laments that the bourgeoise/capitalists tear down the feudalistic system that binds man to his natural superiors.

Fri, 02/27/2015 - 12:25 | 5835620 Oldwood
Oldwood's picture

Regardless, the Marxist dreams will be the motivation that useful idiots will clamor to and be used as an excuse to stifle all dissension. FORWARD, over the precipice.

Fri, 02/27/2015 - 12:48 | 5835713 Shitgum Suicide
Shitgum Suicide's picture

The greatest gift to a Marxist is the tool of resentment that is easily used to lead a stray the ignorant flock of sheep who think they need a shepherd to lead them.
I believe the bible refers to it as the deadly sin of ENVY!!!

Fri, 02/27/2015 - 12:07 | 5835541 DeltaDawn
DeltaDawn's picture

I am not participating either. I want complete freedom in how I treat aliments.  If I pass a $5000 deductible, then I am really in rough shape and want to choose which doctors to see instead of "approved providers."

 I have a greater incentive to care for my body. No mammograms, vaccines, chemo, etc. 

I do not want to be pooled together with my fellow citizens, who on average are in pathetic health and ignorant and lazy. No "races for the cure" either. Scams.

Fri, 02/27/2015 - 14:07 | 5836038 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

I'm going underground at the end of march...!! 

Fuck the system!!

They just lost about $125-150k/year in revenues from me (my appx average tax obligation over past 7-8 years).  And to pour some salt on the wound, it won't be long and I'll find my way into the governent payroll (EBT, section 8, medicaid, etc). 

Taking the power back....

Fri, 02/27/2015 - 16:26 | 5836517 Franktastic
Franktastic's picture

HIT em in the pocketbook!

Fri, 02/27/2015 - 16:22 | 5836497 Franktastic
Franktastic's picture

rest assure that the ground work is being laid out for a Markism take over:

In this video entitled "Marxism in America" General Jerry Boykin discusses his background and training in understanding Marxist insurgencies and how current government actions parallel Marxist tactics

 

https://www.youtube.com/watch?v=Z7w3ZEbC09k

 

Fri, 02/27/2015 - 11:53 | 5835482 graspAU
graspAU's picture

If you are a productive person and now have a high deductible health insurance policy, it costs you about $5,000 ($15k billed, then negotiated prices, you pay deductible and co-insurance to get to the $5k out of pocket) for pre-natal care, delivery charges (OBGYN), and the hospital stay to have a baby. If you are much less productive and qualify for medicade, the whole thing costs you $50, and the hosptial sends you home with a gift bag of supplies. I wonder why productive people are reproducing less, while those on assistance are having 4-6 children?

Fri, 02/27/2015 - 11:58 | 5835510 p00k1e
p00k1e's picture

Start calling spades, spades.

Float a trial balloon - When you see a single mom, call her a whore.   Point at her kid calling it a bastard.

Here’s an exercise, the next time you see a white woman with a dark baby, ask her who she’s babysitting for.  If she says it’s her kid and acts angry, apologize and act bewildered stating, “The child looks nothing like you, how could I tell.”  – no offense.

When you see people spending EBT – point at them and just shriek. 

Fri, 02/27/2015 - 12:29 | 5835637 Mike Honcho
Mike Honcho's picture

How about you start that trend - people point at you and say "man he is getting an ass whooping".

 

Go around berating women randomly and some old school gents will be glad to answer for them.

Fri, 02/27/2015 - 12:31 | 5835640 plane jain
plane jain's picture

What a stud you are suggesting we all take potshots at easy targets. 

What about the man that participated in making that baby? Free pass?

And the kid? Sure let's label the baby who had no say in the matter what so ever.

Want to apply constructive social pressure? Start a meme/campaign that real men provide their own birth control every time or else step up and take responsibility.

Abusing single mothers and their children is closing the barn door after the cow is already out.

Fri, 02/27/2015 - 16:14 | 5836456 mkkby
mkkby's picture

Obviously you are a wacky liberal feminist.  You all like to live in denial. 

Remember women's RIGHT TO CHOOSE, ASSHOLE?  The woman is a whore.  She had a choice, remember?  She chose to be a whore and get knocked up, when she could have free birth control at her medicaide health clinic.  Fuck you and your dickhead politics.

Fri, 02/27/2015 - 19:10 | 5837393 plane jain
plane jain's picture

If by liberal feminist you mean belief that women should have equal rights under the law, affirmative.

I'm female and so is my child. To believe otherwise would be pretty ignorant.

As far as the rest of my politics I hardly think that speaking out for personal responsibility, as in men should not assume that the woman is responsible for birth control/child rearing is a "liberal" position. 

 

Fri, 02/27/2015 - 12:06 | 5835540 clade7
clade7's picture

That 15k bill represents 30k earned...

Fri, 02/27/2015 - 12:14 | 5835569 madcows
madcows's picture

don't forget the tax incentives, er, baby rebate for the FSA.  They get PAID to have children.  Then, their children get free food, free housing, free college, etc...

Meanwhile, I try to figure out how to feed and clothe my family, AND theirs.

Nothing like incentiving the FSA, and Disincentiving the producers.  Why the fuck do I work?

Fri, 02/27/2015 - 12:26 | 5835623 the grateful un...
the grateful unemployed's picture

poor family, six kids, maybe on of them becomes a rock star, everybody enjoys the benefit. rich family, six kids, only one of them has issues, a serious disease, the rest end up paying for that one.

Fri, 02/27/2015 - 14:02 | 5836008 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Living in NYC, I bring home just over 50% of my gross.  Then have to pay another 17% of gross in child support.

Needless to say, I've decided it's much more economical for me to get myself fired and join the FSA.

I'm 37yo.... born and raised in the midwest.  Been working summers since I was 12 and nights weekends almost as long.  I think my parents raised me with a good work ethic.  But I've finally cracked. 

Fuck the system.  If you can't beat 'em, join 'em...!!

Fri, 02/27/2015 - 12:00 | 5835516 b a n n e d
b a n n e d's picture

we healthcare some folks

Fri, 02/27/2015 - 12:29 | 5835636 the grateful un...
the grateful unemployed's picture

we health-care about you

Fri, 02/27/2015 - 12:00 | 5835518 denny69
denny69's picture

Are 'illegal' drugs considered healthcare expenses?

Fri, 02/27/2015 - 12:23 | 5835611 Oswald did it
Oswald did it's picture

No they go under "Recreational goods".  Your brazzers subscription and hookers would go under "Recreational services"

Fri, 02/27/2015 - 12:28 | 5835633 the grateful un...
the grateful unemployed's picture

bob is that you?

Fri, 02/27/2015 - 13:06 | 5835782 Oswald did it
Oswald did it's picture

Bob Filner, yes indeed.  Frisky as ever

Fri, 02/27/2015 - 12:25 | 5835619 Mike Honcho
Mike Honcho's picture

A friend of a friend of mine would say yes.

Fri, 02/27/2015 - 12:08 | 5835546 Duude
Duude's picture

Now if only we can see the breakdown of what portion of that increase in healthcare expense is out of consumer pockets directly and what portion is taxpayer subsidy?

Fri, 02/27/2015 - 12:21 | 5835604 Shitgum Suicide
Shitgum Suicide's picture

I can't wait to see how many people spent their gas savings on ammo and guns.

Fri, 02/27/2015 - 12:34 | 5835652 DutchBoy2015
DutchBoy2015's picture

My Health care deductible went up to  375 euros a year from 350. I am pissed off.

The good thing is my monthly premiums went down 10 Euros to 93 euros a month from 103.

 

Fri, 02/27/2015 - 12:36 | 5835659 European American
European American's picture

Think of all the money Americans could save if they weren't so dependent on a massively corrupt medical system that makes trillions on KEEPING us SICK. We live in a War Zone where our immune systems are intentionally and methodically  bombarded by a veritable kaleidoscope of toxins deliberately created so THEY can control our health. Don't let them. Do whatever is necessary to prevent them from taking our lives from us. Get plenty of rest. Exercise. Eat wholesome foods. Live simply. Stay away from "them". Surround yourself with loving kindness.

Fri, 02/27/2015 - 12:37 | 5835664 Shitgum Suicide
Shitgum Suicide's picture

Funny thing about that chart is the negative spending on food and beverage. I'd like to see the straight alcohol sales chart and I bet it's pretty damn big. Just going around town and running errands I notice a lot more people who are on happy hour by mid day.

Two things happen during a depression. People drink more and go to the gym/exercise more. My guess is they're doing a lot more drinking. How could you not in this bang up economy

Fri, 02/27/2015 - 12:44 | 5835681 clade7
clade7's picture

Correct observation, and I'm doing my part...except for the exersize that is...unless the 25oz BudLite curls count...2 for $3 down at the StopNRob...I consider $6/day a pretty cheap prescription...since I have no healthcare to afford the good stuff like Lipitor...

Fri, 02/27/2015 - 12:51 | 5835728 MathWins
MathWins's picture

Our extra money went to our gigantic health care deductible, and I splurged on meat, like ground round beef and a couple of steaks.

Fri, 02/27/2015 - 13:00 | 5835762 K Solomon
K Solomon's picture

We know that the State Healthcare Exchanges over-billed, and are now issuing refunds. I am not sure if the over-billing started in Jan 2015, or in Q4 2014. If latter, need to account for that.

Fri, 02/27/2015 - 13:04 | 5835775 SillyWabbits
SillyWabbits's picture

 I spent mine on Tigers Milk.

Winning!

Sat, 02/28/2015 - 09:55 | 5835787 mrdenis
mrdenis's picture

This gives me gas .......

Fri, 02/27/2015 - 13:08 | 5835790 wcvarones
wcvarones's picture

So they spent $21b on health care and they spent NEGATIVE $1.4b on food and beverages?

I don't think you are interpreting the data correctly.

Fri, 02/27/2015 - 13:28 | 5835877 Jameson18
Jameson18's picture

The reason is people had to pay for healthcare in real dollars but bought food with EBT. Just a thought.

Fri, 02/27/2015 - 14:53 | 5836185 Tyler Durden
Tyler Durden's picture

It's a growth metric so it looks at the change in absolute values: Americans did spend on food and beverages, in fact they spent an annualized $807.6 billion in Q4, but this was less than the $809 billion they spent in Q3. Putting that in perspective, for Healthcare, they spent $1858 billion, up from $1836.6 billion the previous quarter. Again, all that matters is the "change", or the delta in the annualized values.

Fri, 02/27/2015 - 15:36 | 5836324 Oldwood
Oldwood's picture

But that challenges the theme of obesity driven healthcare costs, if growth of food consumption is declining while growth in healthcare costs is increasing. What could be causing this...I wonder...what could it be???

Fri, 02/27/2015 - 13:10 | 5835797 Jack Daniels Esq
Jack Daniels Esq's picture

Yellen bought a truckload of Krispy Kremes

Fri, 02/27/2015 - 13:12 | 5835802 SykeWar
SykeWar's picture

If I had a hammer, I'd hammer in the morning... if I had a hammer.

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