BIDEN: Bows Out of 2024 Presidential Race!

Posted on July 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

KAMALA HARRIS IN

BREAKING NEWS!

By Staff Reporters

WASHINGTON − President Joe Biden said he is ending his bid for reelection amid intense pressure from Democratic leaders sounding the alarm that his path to beat former President Donald Trump in November has vanished.

The president’s historic withdrawal throws the 2024 race − already roiled by a shocking attempt on Trump’s life − into uncertain territory, with Vice President Kamala Harris seen as the Democrat best placed to take Biden’s place atop the party’s ticket. Biden did not immediately endorse a successor but did so later.

Biden just made the announcement Sunday from his home in Rehoboth Beach, Del., where he’s self-isolated since testing positive for COVID-19 Thursday night.

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MEDICARE DOCTOR SALARY RATES: Would Cut Pay 3%

Posted on July 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Orthopedic doctors and surgeons earn on average 558 thousand U.S. dollars annually. This makes Orthopedic doctors and surgeons the most well-compensated physicians in the United States as of 2024, followed by plastic surgeons. Plastic surgeons were, by far, the highest earning physicians in the U.S. in 2023. An orthopedic physician specializes in injuries and diseases involving bones, muscles, joints, nerves and other parts of the musculoskeletal system.

Although orthopedic doctors and surgeons have the highest average annual salary, from 2023 to 2024 their compensation actually decreased by 3 percent. In comparison, compensation for physicians specialized in physical medicine and rehabilitation increased 11 percent during this time, while plastic surgeons saw the largest decrease of 13 percent. The region with the highest annual compensation for physicians was West North Central in 2024, with physicians earning some 404 thousand U.S. dollars in this region.

There are currently around 29.2 active physicians per 10,000 people in the U.S. Around 29 percent of physicians in the U.S. are aged between 56 and 65 years, while only 11 percent are 35 years or younger. The vast majority of physicians are employed by hospitals or groups and work an average of 51 hours per week.

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Medicare Rates in 2025 Would Cut Pay For Docs by About 3%

And so, Federal officials on July 11th proposed Medicare rates that effectively would cut physician pay by about 3% in 2025, touching off a fresh round of protests from medical associations. The 2025 draft base rate, or conversion factor, is slated to drop to $32.36 from the current level of $33.29, the Centers for Medicare & Medicaid Services said.

This proposed cut is mostly due to the 5-year freeze in the physician schedule base rate mandated by the 2015 Medicare Access and CHIP Reauthorization Act (MACRA). Congress designed MACRA with an aim of shifting clinicians toward programs that would peg pay increases to quality measures.

Source: Kerry Dooley Young, MD Edge [7/11/25]

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ECONOMICS: What is the “Golden Rule” Savings Rate?

Posted on July 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

And … the Solow capital motion growth model?

[By staff reporters]

In economics, the Golden Rule savings rate is the rate of savings which maximizes steady state level or growth of consumption, as for example in the Solow growth model.

Although the concept can be found earlier in John von Neumann and Maurice Allais‘s works, the term is generally attributed to Edmund Phelps who wrote in 1961 that the golden rule “do unto others as you would have them do unto you” could be applied inter-generationally inside the model to arrive at some form of “optimum“, or put simply “do unto future generations as we hope previous generations did unto us.”

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The Solow growth model

In the Solow growth model, a steady state savings rate of 100% implies that all income is going to investment capital for future production, implying a steady state consumption level of zero. A savings rate of 0% implies that no new investment capital is being created, so that the capital stock depreciates without replacement. This makes a steady state unsustainable except at zero output, which again implies a consumption level of zero.

Somewhere in between is the “Golden Rule” level of savings, where the savings propensity is such that per-capita consumption is at its maximum possible constant value.

Assessment

Put another way, the golden-rule capital stock relates to the highest level of permanent consumption which can be sustained.

Conclusion

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DAILY UPDATE: Crowdstrike Price, Banks and Healthcare

Posted on July 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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CITE: https://tinyurl.com/2h47urt5

CrowdStrike saw its share price plummet Friday, although it is still up ~24% YTD. At $74.2 billion, CrowdStrike has the second-largest market cap in the IT security industry, behind only Palo Alto Networks ($107.1 billion), and reported $900 million in revenue for the quarter ending in April, per Reuters. It’s got ~29,000 customers, which is part of why the outage caused so much havoc.

CITE: https://www.r2library.com/Resource

Crowdstrike Banks: Some traders at JPMorgan Chase, UBS, Bloomberg, and other financial institutions couldn’t execute orders yesterday morning, with one unnamed senior trader telling the Financial Times that it was “the biggest upset in years.”

CITE: https://tinyurl.com/tj8smmes

Crowdstrike Healthcare: Many hospitals—including some of the largest in Europe and the US—were forced to cancel all elective operations, routine appointments, and walk-ins, and online portals for most UK general practitioners went down.

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