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7/31/2019 Medicine and the Vampire Economy. Lee Hieb, MD
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If you put the Federal Government
in charge of the Sahara Desert, in five
years you would have a shortage ofsand--
Milton Friedman
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Medicine and theVampire Economy
Lee D. Hieb, MD
Orthopaedic and Spinal Surgeon
Lake City, Iowa
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Dont prey
on each other
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Dont prey on the dead
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Prey on the living (productive)
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Only two possible outcomes:
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??
Why is America the MostProsperous Nation on Earth?
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Why is America Prosperous?
Democracy?Natural Resources?
Low population density?Work Ethic?
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Why is America Prosperous?
History of Economic
Freedom
Rule of Law
Respect for Private Property
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America
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American Decline as Disease
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Before Treatment:
Correctlyname Diagnosis
Catalog and analyze theSymptoms
Examine the Signs
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Symptoms
Decreased economicdevelopment
Under/un-employment
Escalating prices
Diminishing standard of living Diminishing middle class
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Medical Symptoms
Shortages of physicians
Shortages of necessities
Uncertainty of investment
Escalating overhead
Price Controls
Fear of Prosecution
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Economic Signs
Government administers a
capitalist system with an
immense bureaucracy
Criminalization of violators
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150,000 pages Medicare Regs
2000 pages
on billing
RAC
Auditors
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Tax Code
1913 400 pages
2011 82,000 pages
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Top Rule Producing Agencies
11
Treasury
Commerce Interior
EPA
Agriculture
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Rules (completed) > 100 Mil
impact
H and HS 23
EPA 4Treasury 3
Energy 3
DOE 2
Defense 0
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11 Pages of laws
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9 Pages= Disposal CFL
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Economic Sign
Government sustainseconomic life through
spending and borrowing
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Private vs Government Spending
1920 to 2011
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Economic Sign
Producers are organized
into cartels some of which
are favored over others by
government policy
(syndicalism)
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Economic Sign
Profit is held privately, but
loss is public.
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Economic Sign
The government acknowledgesno restraint on its powers.
Words have no meaning
Money from thin air
Property is no longer private
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Economic Sign
General Belief: Only the
State can protect the
individual from
unscrupulous businessmen.
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Economic Sign
Generalbelief:
Prosperitywill follow acultural and
spiritualawakening.
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What is the Diagnosis?
F. A. Hayek, NobelLaureate Economist
William Welk, HarvardEconomist
Thomas Dilorenzo, PhD.Economist, Mises Institute
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Public/Private Partnership:
Germany, Italy and Spain
Vast regulations
Violations of property rights
Inflation
Price controls
Taxes
Criminalization of business
activities
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F.A. Hayek: Road to Serfdom
Germany 1928: 55% Gov
controlled, 10% Military
Spending
US today, 45% Gov and
21% budget military
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rviving the Vampire
(Fascist)Economy??
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Business Organization
Sales
Manager
Purchasing
Agent
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Business Organization
Sales ManagerPurchasing Agent Public
Relations
Legal
GovernmentInterface
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Hire a
Contact Man
Former Pols on corporate boards,
etc.
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Companies Join for Safety
Small companies cant
compete legally--form
external legal arm.
Band together to lobby and
appease government
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All for the Volk:
Camouflage private interest ascommunity benefit
Conrad Hilton
wentGreen
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Economy of Coercion
Incentives forunwanted
investments
Forced investments
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Vampire Government
Increasing bureaucracy
meant increased
functionaries
Became a legally privileged
group.
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Cowering Businessman
Live in fear of beingprosecuted
Cannot keep track ofthe laws
Fear new extortion
Fear new decree thatwill bankrupt him
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Courageous Businessman
Not for
investment
risk, but for
circumventing
regs
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When all else fails---
Give up and join thegovernment.
(Adopting another fascist
characteristic: Pragmatismover Principle.)
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Outcome--at First
Government safeguardedbig business and avoided
bankruptcies.
Companies who couldnt
compete funded partymembers for favors.
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Gave lots of money to party
Lost all economic freedom
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To live in this process is
absolutely not to be able to notice
itone no more saw it developingday to day than a farmer in his
field sees the corn growing. One
day it is over his head.--Milton
Mayer, They Thought They Were Free
Principiis obsta. Finem respice.
Resist the beginnings. Consider the end.
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Progressive Economic/ Social
Oppresssion
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Best Outcome
1954 Franco
woke up toFree Market
reforms
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Conclusions: We are at tipping pt.
Without general economic
reform we cannot maintain
quality medical care
Economic improvement
means decreasing government
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Dont surrender a rightmake them take it.
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Practical Note
Stay lean, mean, able to
turn on a dime
Produce necessities, not
pain palliatives
Prepare to downsize
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Pragmatism With Principle
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Hope for the Future
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