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By Dr. David Edward Marcinko MBA MEd
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Say’s Law, named after the French economist Jean‑Baptiste Say, is a foundational idea in classical economics. Often summarized as “supply creates its own demand,” the law suggests that the act of producing goods and services inherently generates the income necessary to purchase them. This principle shaped economic thought throughout the 19th century and continues to influence debates about markets, government intervention, and the causes of economic crises.
Origins and Meaning Jean‑Baptiste Say introduced his law in the early 1800s in his Treatise on Political Economy. He argued that production is the source of demand: when producers create goods, they pay wages, rents, and profits, which in turn become purchasing power. In this view, general overproduction is impossible because every supply of goods corresponds to an equivalent demand. If imbalances occur, they are temporary and limited to specific sectors, not the economy as a whole.
Core Principles Say’s Law rests on several assumptions:
These ideas aligned with classical economists’ belief in minimal government intervention and the efficiency of free markets.
Influence on Classical Economics Say’s Law became a cornerstone of classical economics, reinforcing the belief that recessions or depressions were temporary and self‑correcting. Economists like David Ricardo and John Stuart Mill adopted versions of the law, using it to argue against policies aimed at stimulating demand. The law supported laissez‑faire approaches, suggesting that governments should avoid interfering with markets, as production itself would ensure economic balance.
Criticism and Keynesian Revolution Say’s Law faced its greatest challenge during the Great Depression of the 1930s. Widespread unemployment and idle factories contradicted the idea that supply automatically generates demand. John Maynard Keynes famously rejected Say’s Law in his General Theory of Employment, Interest, and Money (1936). Keynes argued that demand, not supply, drives economic activity. He showed that insufficient aggregate demand could lead to prolonged recessions, requiring government intervention through fiscal and monetary policies.
Keynes’s critique marked a turning point in economics. While Say’s Law emphasized production, Keynesian economics highlighted consumption and demand management. This shift reshaped economic policy, leading to active government roles in stabilizing economies.
Modern Perspectives Today, Say’s Law is not accepted in its original form, but elements of it remain relevant. Supply‑side economists, for example, argue that policies encouraging production—such as tax cuts and deregulation—can stimulate growth. In contrast, Keynesians stress the importance of demand management. The debate reflects a broader tension in economics: whether prosperity depends more on producing goods or ensuring people have the means and willingness to buy them.
Conclusion: Say’s Law was a bold attempt to explain the self‑sustaining nature of markets. While its claim that “supply creates its own demand” proved too simplistic in the face of modern economic realities, it remains a vital part of the history of economic thought. The controversy surrounding Say’s Law highlights the evolving nature of economics, where theories are tested against real‑world crises and adapted to new circumstances. Even today, discussions of supply‑side versus demand‑side policies echo the enduring influence of Say’s original insight.
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Filed under: "Ask-an-Advisor", economics, finance, Glossary Terms, Health Economics, Investing, Marcinko Associates, Touring with Marcinko | Tagged: classical economics, consumption, david marcino, demand-supply, depression, economic, economics, economy, finance, Income, Keynes, money, politics, Say's law, supply-demand, wages | Leave a comment »
By Dr. David Edward Marcinko MBA MEd
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The Sraffa–Hayek debate stands as a pivotal moment in the history of economic thought, highlighting deep philosophical and methodological differences between two influential schools: the Austrian School, represented by Friedrich Hayek, and the neo-Ricardian or Cambridge School, represented by Piero Sraffa. Taking place primarily in the 1930s, this intellectual exchange centered on the nature of capital, the role of equilibrium, and the validity of marginalist theory.
Friedrich Hayek, a staunch advocate of Austrian economics, had developed a theory of business cycles rooted in the mis allocation of capital due to artificially low interest rates. In his framework, interest rates serve as signals that coordinate inter temporal production decisions. When central banks distort these signals, they cause over investment in capital-intensive industries, leading to unsustainable booms followed by inevitable busts. Hayek’s theory was grounded in a time-structured view of capital, emphasizing the importance of temporal coordination in production.
Piero Sraffa, a Cambridge economist and close associate of John Maynard Keynes, challenged Hayek’s assumptions in a 1932 review of Hayek’s book Prices and Production. Sraffa’s critique was both technical and philosophical. He questioned the coherence of Hayek’s notion of a uniform natural rate of interest in a complex economy with heterogeneous capital goods. Sraffa argued that in such an economy, there could be multiple natural rates of interest, making it impossible to define a single rate that equilibrates savings and investment across all sectors.
Moreover, Sraffa criticized the Austrian reliance on equilibrium analysis in a world characterized by uncertainty and institutional complexity. He contended that Hayek’s model was overly abstract and detached from real-world dynamics. This critique foreshadowed Sraffa’s later work, Production of Commodities by Means of Commodities (1960), which laid the foundation for the neo-Ricardian critique of marginalist economics. In that work, Sraffa demonstrated that prices and distribution could be determined without recourse to subjective utility or marginal productivity, challenging the core of neoclassical theory.
The debate had far-reaching implications. For the Austrian School, it exposed vulnerabilities in their capital theory and prompted refinements in their approach to intertemporal coordination. For the broader economics profession, Sraffa’s critique contributed to a growing skepticism about the internal consistency of marginalist value theory, influencing the Cambridge capital controversies of the 1950s and 1960s.
While the Sraffa–Hayek debate did not produce a definitive victor, it underscored the importance of foundational assumptions in economic modeling. It also highlighted the tension between abstract theoretical elegance and empirical relevance—a tension that continues to shape economic discourse today. Ultimately, the debate enriched the intellectual landscape by forcing economists to confront the limitations of their models and to grapple with the complex realities of capital, time, and uncertainty.
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By Dr. David Edward Marcinko MBA MEd
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The term “K-shaped economy” emerged during the COVID-19 pandemic to describe a recovery marked by stark divergence—where some sectors and social groups rebound rapidly while others continue to decline. Unlike traditional V-shaped or U-shaped recoveries, which imply uniform economic improvement, the K-shaped model reflects a split trajectory: the upward arm of the “K” represents those who thrive, while the downward arm captures those left behind. This phenomenon has profound implications for economic policy, social equity, and long-term stability.
At the heart of the K-shaped economy is inequality. High-income individuals, white-collar professionals, and large corporations often benefit from technological advances, remote work flexibility, and access to capital. For example, tech giants like Apple, Microsoft, and Alphabet saw record profits during the pandemic, fueled by digital transformation and cloud services. Meanwhile, lower-income workers—especially in hospitality, retail, and service industries—faced job losses, reduced hours, and limited access to healthcare or financial safety nets. This divergence widened existing income and wealth gaps, exacerbating social tensions.
Sectoral performance also illustrates the K-shaped divide. Industries such as e-commerce, software, and logistics surged, while travel, entertainment, and small businesses struggled. The rise of automation and artificial intelligence further tilted the scales, favoring companies that could invest in innovation while displacing low-skilled labor. In education, students from affluent families adapted to online learning with ease, while those from disadvantaged backgrounds faced digital barriers and learning loss. These disparities underscore how economic recovery is not just uneven—it’s structurally imbalanced.
Geography plays a role too. Urban centers with diversified economies and strong tech sectors rebounded faster than rural or manufacturing-heavy regions. Housing markets in affluent areas soared, driven by low interest rates and remote work migration, while renters and first-time buyers faced affordability crises. Even within cities, neighborhoods with better infrastructure and public services recovered more quickly, deepening the urban-suburban divide.
Policymakers face a daunting challenge in addressing the K-shaped recovery. Traditional stimulus measures may not reach the most vulnerable populations without targeted interventions. Expanding access to education, healthcare, and digital infrastructure is essential to leveling the playing field. Progressive taxation, wage support, and small business aid can help bridge the gap, but require political will and fiscal discipline. Central banks must balance inflation control with inclusive growth, avoiding policies that disproportionately benefit asset holders.
The long-term consequences of a K-shaped economy are significant. Persistent inequality can erode trust in institutions, fuel populism, and hinder social mobility. Economic growth may slow if large segments of the population remain underemployed or financially insecure. To build a resilient and inclusive future, governments, businesses, and civil society must collaborate to ensure that recovery lifts all boats—not just the yachts.
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SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit an RFP for speaking engagements: CONTACT: Ann Miller RN MHA at MarcinkoAdvisors@outlook.com -OR- http://www.MarcinkoAssociates.com
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By Dr. David Edward Marcinko MBA MEd
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Economics is the study of how societies allocate scarce resources to meet the needs and wants of individuals. It is broadly divided into two main branches: microeconomics and macroeconomics. While both aim to understand economic behavior and decision-making, they differ significantly in scope, focus, and application. Understanding these differences is essential for grasping how economies function at both individual and national levels.
2025 Nobel: https://medicalexecutivepost.com/2025/10/14/nobel-prize-economics-2025/
Microeconomics focuses on the behavior of individual economic agents—such as consumers, firms, and households—and how they make decisions regarding resource allocation. It examines how these entities interact in specific markets, how prices are determined, and how supply and demand influence economic outcomes.
Key concepts in microeconomics include:
Microeconomic analysis is crucial for understanding how specific sectors operate, how businesses strategize, and how consumers respond to changes in prices or income. For example, a company might use microeconomic principles to determine the price point that maximizes profit or to assess the impact of a new competitor entering the market.
Macroeconomics, on the other hand, deals with the performance, structure, and behavior of an entire economy. It looks at aggregate indicators and phenomena, such as national income, unemployment, inflation, and economic growth. Macroeconomics seeks to understand how the economy functions at a broad level and how government policies can influence economic outcomes.
Key areas of macroeconomics include:
Macroeconomic analysis is essential for policymakers, economists, and financial institutions. For instance, central banks use macroeconomic data to set interest rates, while governments design fiscal policies to stimulate growth or curb inflation.
Despite their differences, microeconomics and macroeconomics are deeply interconnected. Micro-level decisions collectively shape macroeconomic outcomes. For example, widespread consumer spending boosts aggregate demand, influencing GDP and employment levels. Conversely, macroeconomic conditions—such as inflation or interest rates—affect individual behavior. A rise in interest rates may discourage borrowing and reduce consumer spending, impacting businesses at the micro level.
Economists often use insights from both branches to develop comprehensive models and forecasts. For instance, understanding consumer behavior (micro) helps predict changes in aggregate consumption (macro), which in turn informs policy decisions.
Austrian Economics: https://medicalexecutivepost.com/2025/10/11/keynesian-versus-austrian-economics/
Microeconomics and macroeconomics offer distinct yet complementary perspectives on economic activity. Microeconomics provides a granular view of individual decision-making and market dynamics, while macroeconomics offers a broader understanding of national and global economic trends. Together, they form the foundation of economic theory and practice, guiding businesses, governments, and individuals in making informed decisions.
A well-rounded grasp of both branches is essential for anyone seeking to understand how economies function and evolve in an increasingly complex world.
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SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit an RFP for speaking engagements: CONTACT: Ann Miller RN MHA at MarcinkoAdvisors@outlook.com -OR- http://www.MarcinkoAssociates.com
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Filed under: economics, finance, Glossary Terms, Health Economics, Marcinko Associates | Tagged: david marcinko, economics, economy, finance, fiscal policy, GDP, Health Economics, inflation, macro economics, micro economics, monetary policy, nobel economics, politics, trilemma economics | Leave a comment »
By Dr. David Edward Marcinko; MBA MEd
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Physician Beware Fraudulent Faux (“Mirror”) MCO Schemes
A silent, non-directed, ghost, blind, faux, or “mirror” PPO, HMO, or other provider model is not really a formalized managed care organization [MCO] at all. Rather, it was simply an intermediary attempt, and Ponzi-like scheme, to negotiate practitioner fees downward, by promising a higher volume of patients in exchange for the discount.
Of course, the intermediary [discount-broker] then resells the packaged contract product to any willing insurance company, HMO, PPO or other payer, thereby pocketing the difference as a nice profit. Sometime, these virtual organizations are just indemnity companies in disguise.
CLEVELAND CLINIC: https://medicalexecutivepost.com/2025/05/17/cleveland-clinic-controversial-new-health-insurance-co-payment-policy/
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NOTE: The term indemnity insurance refers to an insurance policy that compensates an insured party for certain unexpected damages or losses up to a certain limit—usually the amount of the loss itself. Insurance companies provide coverage in exchange for premiums paid by the insured parties.
These policies are commonly designed to protect professionals and business owners when they are found to be at fault for a specific event such as misjudgment or malpractice. They generally take the form of a letter o indemnity.
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As part of a silent PPO scheme, insurers try to pass off the discount as legitimate on Explanation of Benefit [EOB] forms. Physicians should not fall for this ploy, since pricing pressure will be forced even lower in the next round of “real” PPO negotiations!
Medical providers should also be on guard for silent HMOs, MCOs and any other silent insurance variation, since these virtual organizations do not exist, except as exploitable arbitrage situations for the middleman.
PRE-PAID PLANS: https://medicalexecutivepost.com/2025/04/17/health-insurance-pre-paid-plans/
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SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit an RFP for speaking engagements: CONTACT: Ann Miller RN MHA at MarcinkoAdvisors@outlook.com -OR- http://www.MarcinkoAssociates.com
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Filed under: "Ask-an-Advisor", CMP Program, Ethics, finance, Glossary Terms, Health Insurance, Health Law & Policy, Healthcare Finance | Tagged: Cleveland Clinic, david marcinko, DPM, health, Health Insurance, HMO, indemnity insurance, INSURANCE COMPANIES, MCO, MCO schemes, MD, politics, PPO, pre-paid insurance | Leave a comment »
By Dr. David Edward Marcinko MBA MEd
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Dr. David Edward Marcinko with non-VIP patients
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The House Committee on Oversight and Government Reform expanded its investigation of the cover-up of former President Joe Biden’s health, prostate cancer, and mental decline.
On June 4th, Chairman James Comer subpoenaed five former senior White House aides to appear for transcribed interviews in addition to Biden’s physician, Kevin O’Connor, M.D. In May, Biden revealed he was diagnosed with advanced prostate cancer. The announcement left the public dumbfounded.
At 82, having spent more than five decades as a president, vice president and senator, Biden had access to world-class medical care. Donald Trump Jr. was one of many political observers who speculated the diagnosis might have been covered up to win the 2020 election. And, Biden’s doctors may have followed standard medical guidelines, and the recommendations about screenings for people of different ages can be controversial, writes health care economist Devon Herrick at the Goodman Institute Health Care Blog.
“Experts often say that men are more apt to die with prostate cancer than from prostate cancer,” wrote Herrick. “There is even some disagreement about whether doctors should treat most occurrences of prostate cancer in older men. That partly explains why Biden had not been screened in a decade.”
Screenings can be costly, time-consuming and uncomfortable, and false positive results can lead to invasive procedures that do not markedly extend life or health. Biden made his first public remarks about his cancer after a Memorial Day event. Biden said he was “feeling good” and expected to “be able to beat this.”
QUESTION: So, was this a case of VIP Patient Paradox?
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DEFINITION: “VIP medical patient paradox syndrome” is a term coined in 1964 by the psychiatrist Walter Weintraub to describe an intriguing paradox: Throughout history, the rich and famous, with all their resources and fancy doctors, have often received worse medical treatment, and suffered from worse health outcomes, than the average person.
VIP DEFINED: https://mdwhistleblower.blogspot.com/2024/08/the-vip-syndrome-threatens-doctors.html
Example: When physicians afford “special privileges” to their powerful patients, from “Mad King” George III to Michael Jackson, they seem to get sicker and even die.
While Weintraub, a psychoanalyst, attributed the problem in part to doctors unconsciously resenting their influential patients, it seems doctors simply get starstruck around famous people and high-ranking figures. Despite their medical expertise, these physicians find themselves opting out of basic tests for “privacy” or prescribing dangerous medications for “comfort.”
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SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit an RFP for speaking engagements: CONTACT: Ann Miller RN MHA at MarcinkoAdvisors@outlook.com -OR- http://www.MarcinkoAssociates.com
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Filed under: Ask a Doctor, Drugs and Pharma, Ethics, Marcinko Associates, mental health | Tagged: Biden, devon herrick, doctors, DPM, Dunning, fancy doctors, goodman institute, health, history, James Comer, kevin O'Conner, Marcinko, MD, medicine, mental health, physicians, politics, prostate, prostate cancer, travel, vip, vip syndrome, Walter Weintraub | Leave a comment »
By A.I and Dr. David Edward Marcinko MBA MEd CMP™
SPONSOR: http://www.CertifiedMedicalPlanner.org
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Introduction
It is normal for physician litigants to develop a case of “buyer’s remorse” after any mediation or divorce settlement. They may feel disappointed after entering into a settlement agreement or feel that they received a bad deal.
PHYSICIAN DIVORCE: https://medicalexecutivepost.com/2025/08/14/physician-divorce-within-the-medical-profession/
Mediation: Some advantages of divorce mediation over divorce litigation include:
◊ Mediation is generally faster and less costly.
◊ Mediation is voluntary, private and confidential.
◊ Mediation facilitates creative and realistic solutions.
◊ Mediation allows parties to control their agreements.
◊ Mediation eliminates a win-lose atmosphere and result.
◊ Mediation provides a forum for addressing future disputes.
◊ Mediation fosters communication and helps mend relationships.
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Settlement
And so, in a vast majority of cases, mediation and settlement is probably a good deal. In fact, it is probably a great deal because you are receiving something without having to risk losing. Remember, trial can be a crap-shoot, and nothing is worse than losing it all at the time of trial.
Instead, you entered into a settlement agreement and now your divorce case is over.
But beware since trying to get out of a settlement agreement reached at mediation or settlement is virtually impossible.
Why? Well, there is a strong interest by the court to enforce mediation and settlement agreements. The court wants your divorce case to be over and off its docket. There are a few very narrow exceptions; for example, if one party was truly coerced because someone held a gun to their head. But that rarely happens, and it certainly doesn’t happen to most doctors or dentists.
Re-litigate?
Of course, you can fight against your mediation or settlement agreement if you like, but you won’t get too far. There’s an old adage in the law that a bad settlement is better than a great trial. That’s because no one knows how a judge or jury will rule come time of trial.
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This buyers remorse phenomenon also isn’t uncommon among people who receive sudden wealth, whether through divorce settlements, inheritances, lottery winnings, or other windfalls.
Assessment
Financial advisors often see clients struggle with “sudden wealth syndrome”—the inability to properly manage a large sum of money they’re not accustomed to having.
Common mistakes include:
So, do not let these mistakes happen to you!
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SPEAKING: Dr. Marcinko will be speaking and lecturing, signing and opining, teaching and preaching, storming and performing at many locations throughout the USA this year! His tour of witty and serious pontifications may be scheduled on a planned or ad-hoc basis; for public or private meetings and gatherings; formally, informally, or over lunch or dinner. All medical societies, financial advisory firms or Broker-Dealers are encouraged to submit an RFP for speaking engagements: CONTACT: Ann Miller RN MHA at MarcinkoAdvisors@outlook.com -OR- http://www.MarcinkoAssociates.com
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Filed under: "Doctors Only", CMP Program, Ethics, Financial Planning, Glossary Terms, Health Economics, Healthcare Finance, Investing, LifeStyle, Marcinko Associates | Tagged: bench trial divorce, buyers remorse, certified medical planner, CMP, david marcinko, divorce, divorce mediation, doctor divorce, jury divorce trial, law, mediation, news, physician divorce, politics, settlement divorce, sudden wealth syndrome | Leave a comment »
By Rick Kahler MSFP CFP™
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QUESTION: “How will this administration’s trade policies affect my retirement savings?” “What does it mean for our plans to travel internationally if the value of the dollar declines?” “Is it wise to borrow right now to expand my business?”
Clients who ask questions like these expect and deserve honest answers from their financial advisors. Their financial and retirement planning depend on accurate information. Yet in the current polarized and chaotic climate, every economic explanation carries potential political interpretations.
Historically, political parties and administrations debated policies on taxes, spending, and regulation. Yet they shared a basic understanding of core mechanisms. Both parties recognized that central banks fight inflation, that tariffs raise prices, and that court rulings are binding. Disagreements focused on applications and political philosophies, not fundamental aspects of our governmental system and the rule of law.
That consensus has collapsed.
This distortion creates a professional bind for advisors. To fulfill their fiduciary duty to clients, advisors must explain economic realities like the link between tariffs and increased consumer costs. They owe it to clients to consider the impact on the U.S. dollar when a president threatens the independence of the Federal Reserve. They should be aware of information such as a CNBC survey that found 66% of small business owners reported being or expecting to be impacted by tariffs. They cannot ignore the difficulties of making business and investment decisions when policies change almost daily and legal rulings are delayed or ignored.
Considering the ramifications of political decisions on clients’ affairs is not an abstract concern. When international confidence in American institutions is wavering and U.S. business owners are uncertain, the consequences affect real money in the accounts of real people.
Yet talking about such issues may trigger accusations of partisanship. Many people get the bulk of their political and economic information from social media and from competitive news outlets that may be as much entertainment as journalism. The biases in some of these sources go so far beyond partisan leanings that they offer conflicting information purporting to be factual. What was once a neutral middle ground where essential facts were agreed upon has become harder to find, particularly when reporting covers politics and the economy.
That neutral territory is exactly where responsible financial advisors need to get the facts on which they base their advice. It’s challenging to stay there if clients are getting their news from outlets that are strongly biased toward either end of the political spectrum. Nuanced explanations can be interpreted as bias or context seen as spin. For the advisor whose information is questioned, remaining silent fails the client. Speaking truthfully risks the relationship with the client.
I have seen advisors lose clients, on both ends of the political spectrum, when advisors and clients held different views. The professional cost of maintaining standards has become substantial.
The financial planning profession faces an unprecedented challenge. Our traditional advisory principles assume a shared understanding of economic fundamentals. That foundation is no longer solid, and trust in advisors’ expertise is eroding.
These disruptions raise a core question. Should financial advisors prioritize economic truth over client comfort or client retention? Or should they accommodate clients’ political sensitivity and compromise the integrity of the advice they provide? Either path risks the loss of clients and revenue.
The choice is not theoretical. It defines the advisor’s professional identity and the quality of financial guidance itself. When economic mechanisms are politicized, the profession’s standards weaken and client service suffers.
The stakes are clear. This is a conflict over whether facts still function as the basis of financial advice.
The resolution will determine whether financial planning remains a profession or becomes another form of political posturing.
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
http://www.MedicalBusinessAdvisors.com
SPONSORED BY: Marcinko & Associates, Inc.
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http://www.MarcinkoAssociates.com
| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
| © Copyright Institute of Medical Business Advisors, Inc. All rights reserved. 2025 |
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CITE: https://www.r2library.com/Resource
Stat: $18 billion. One report says that’s how much hospitals and health systems spent combating workplace violence in 2023. (the American Hospital Association)
What’s downCITE: https://tinyurl.com/tj8smmes
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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EDUCATIONAL TEXTBOOKS: https://tinyurl.com/4zdxuuwf
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
http://www.MedicalBusinessAdvisors.com
SPONSORED BY: Marcinko & Associates, Inc.
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http://www.MarcinkoAssociates.com
| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
| © Copyright Institute of Medical Business Advisors, Inc. All rights reserved. 2025 |
REFER A COLLEAGUE: MarcinkoAdvisors@outlook.com
SPONSORSHIPS AVAILABLE: https://medicalexecutivepost.com/sponsors/
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Bonds breathed a sigh of relief after 30-year Treasury yields fell back below 5% as Japanese central bankers took precautionary measures to shore up their finances.
Gold tumbled as investors continue to throw money at risk assets, while bitcoin maintained its recent gains.
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The Justice Department is investigating UnitedHealth Group for possible criminal Medicare fraud, the WSJ reported. The healthcare-fraud unit of the Justice Department’s criminal division is overseeing the investigation and it has been an active probe since at least last summer. Apparently the federal investigation is focusing on the company’s Medicare Advantage business practices. UnitedHealth said in a statement it hadn’t been notified by the Justice Department of the criminal investigation. The statement said the company stands “by the integrity of the Medicare Advantage program.”
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By Rick Kahler MSFP CFP™
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If I had a dollar for every time someone referred to the “good old days,” of the American economy, I could probably buy a vintage diner, jukebox and all, and still have enough left for a slice of apple pie.
The newest round of on-again, off-again tariffs is built around that same kind of nostalgia. Slapping big taxes on goods from other countries will supposedly protect American jobs and industries. The aim is to bring factories back, boost wages, and make the country more self-reliant.
This is a powerful story that taps into a deep feeling that we’ve lost control. Supporters argue that the U.S. has opened its markets and played by the rules, allowing many other countries to prosper at its expense, while America has been in a long, slow economic decline. This story frames the U.S. as a victim, with tariffs a form of payback to punish countries that have “taken advantage of us.”
Except that story is a myth. Rather than punishing foreign economies, the pain of tariffs hits Americans at home. Our businesses face costlier goods, consumers pay higher prices at the store, and the ripple effects include falling sales, layoffs, and frayed trade relationships.
In addition, the U.S. economy has actually been booming. Over the past three decades, the U.S. has pulled far ahead of most developed nations. In 2008, the American economy was about the same size as the Eurozone’s. Today, it’s nearly twice as large. Wages have risen. Even the poorest U.S. state now has a higher per-person income than countries like France, Japan, or the U.K.
So why do so many people still feel like we’re falling behind?
First, the growth hasn’t reached everyone, especially in rural America. In some areas and industries, jobs have disappeared and opportunities have dwindled.
Second, many people who are doing okay themselves have bought into a powerful, repeated myth that things are going terribly for everyone else.
This narrative takes hold in people’s internal voices, the parts of themselves shaped by past pain, fear, or frustration. Tariffs, then, can feel like a way to stand up and take action. It makes perfect sense to want to relieve anxiety by shutting the world out and protecting what is left.
Yet, when we act from fear or anger without pausing to reflect, we tend to overcorrect or trade one set of problems for another. This is what many economists and business leaders see happening with tariffs. Even supporters of tariffs are beginning to admit they’re a gamble. Many are still willing to take that gamble if it means restoring something they feel they’ve lost, a sense of purpose, security, and control.
Reacting out of fear in this way is not likely to create lasting solutions. A more challenging but more productive approach would be to take time to listen with compassion to those inner voices, helping them move past anxiety to find answers based in truth rather than myth. Maybe real liberation comes from letting go of narratives that no longer serve us, choosing a future built on connection, courage, and clarity.
Because if we keep heading down an isolationist path, turning inward out of fear, the future might not be the golden age we imagine. It might look a lot more like the actual 1950s, before the civil rights movement, before women fully entered the workforce, before the innovations that made the U.S. economy a global leader. A time more isolated, less equal, and far less dynamic than the one we’ve come to idealize.
That’s a version of the past we don’t need to relive, no matter what nostalgic song is playing on the jukebox.
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By Rick Kahler CFP™ MSFP
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DECLINE OF THE DOLLAR
On-again, off-again tariffs. Rising prices. Dramatic market swings. The anxiety-producing headlines come so fast it’s hard to know what to worry about first. Meanwhile, one serious consequence of all this chaos is going almost unnoticed. That is the decline of the dollar.
Since the start of this year, the value of the U.S. dollar has slipped more than 10% against other major currencies. That drop is not just an economic statistic. It affects all Americans’ daily lives.
People are feeling the pinch of rising prices at checkout lines, gas stations, and shipping counters. But there isn’t a full understanding of why. Tariffs are only half the story. The weakening dollar amplifies those price increases even further.
For years, the dollar remained strong even as the national debt ballooned. It benefited from its reputation as a safe haven, from global demand, and from U.S. interest rates. But much of that strength, as we now see, was fragile—propped up more by perception than fundamentals. In April, sweeping tariffs triggered a sharp market correction, and the dollar suddenly fell to its lowest point in over three years. Market confidence vanished overnight.
This was more than a market reaction. It signaled a collapse in trust—not just in policy, but in principle. It is no longer a given that the U.S. will act with consistency, reason, and long-term responsibility. What’s unraveling is both our country’s financial credibility and the moral foundation that underpinned it.
When a currency represents a nation, its value reflects more than economics. It reflects governance, accountability, stability, and integrity. When the dollar stumbles, it speaks to who we are, and whether we can still be counted on.
Yet, most people aren’t talking about the decline of the dollar. This may come from being overwhelmed, choosing to ignore even more bad news, or actually believing that this is a necessary step in making things better. It is not.
We all respond differently to financial uncertainty. Some lean into hyper-vigilance—tightening budgets, tracking every headline. Others shut down, turning toward distraction. Still others press on as if nothing has changed. These are all natural human reactions.
They are not the same as leadership. And leadership—internal and external—is what’s needed now. Not panic. Not blame. Just the courage to face where we are and the willingness to start again from there.
But leadership is in short supply in Washington, where many in both parties remain silent. Some fear political retribution from the administration, others fear backlash from increasingly extreme and vocal constituencies. That silence costs us all.
A respected government official recently told me that, while some of the domestic damage to our economy could be repaired within a few years, rebuilding global confidence in the United States may take a generation. That is a reflection of the rapid erosion of trust that has already happened in the last three months. Trust that took decades to build has been unwound in a matter of weeks. Even if we reversed every policy decision tomorrow, the damage is done.
We cannot change what’s already happened. We can still choose to show up. To pay attention. To have the hard conversations. To lead our own financial lives with more clarity, integrity, and intention than before. That kind of personal leadership may not fix the dollar. But it can help rebuild what underlies its value: trust, steadiness, and the moral grounding we’ve begun to lose.
Because the dollar’s decline is more than an economic headline.
It’s a story about who we are—and whether we’re ready to live with open eyes in a world where the old assumptions no longer hold.
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Stat: $1.5 billion. That’s how much a lawsuit alleged hospitals lost because of under funding for facilities serving low-income patients. The Supreme Court ruled against the push for more reimbursement. (Healthcare Dive)
Read: An exclusive interview with Marty Makary, the newly appointed FDA commissioner, on cuts, vaccines, and his future goals. (MedPage Today)
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By Rick Kahler CFP™
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Lately, I’ve been hearing the same question from clients and readers alike: “Is Social Security even going to be there in five years?” Fueling this concern is a recent viral comment from Elon Musk, who told Joe Rogan that Social Security is “the biggest Ponzi scheme of all time.” That quote has been repeated in every corner of the internet, stirring up uncertainty and fear.
Elon Musk is a genius, but his brilliance in technology and innovation doesn’t automatically translate into expertise in public policy. When it comes to Social Security, he’s outside his lane. Calling it a Ponzi scheme may make for a great soundbite, but it’s a fundamental mischaracterization.
Social Security is not a Ponzi scheme. Not even close.
A Ponzi scheme is a form of financial fraud that lures investors with the promise of high returns. Instead of earning those returns through legitimate investments, the scheme pays earlier investors using money from newer ones. Eventually, the model collapses when there aren’t enough new participants to keep it going, leaving most people with significant losses. This is what happened to those who trusted Bernie Madoff, operator of one of the worst Ponzi schemes in history. Ponzi schemes are illegal, deceptive, and doomed from the start.
Social Security, in contrast, is a government-run, pay-as-you-go tax program. It’s fully transparent; you know exactly where your money is going. The payroll taxes you and your employer pay are used to provide income to today’s retirees, people with disabilities, and surviving family members of deceased workers. This isn’t a con, it’s a social contract.
So why the confusion? Part of the issue is that Social Security does, on the surface, resemble the flow of a Ponzi scheme: money coming in from the young to support the old. But similarity in structure doesn’t make it fraudulent. The program does not promise high returns, it promises a modest, inflation-adjusted benefit to support people as they age.
Social Security does face challenges. The trust fund reserves, built up during years when payroll taxes exceeded payouts, are projected to run dry around 2033. If Congress does nothing, benefits will need to be cut by about 20%. That’s serious, but it’s a solvency issue, not a scam.
And the solvency issue is fixable. There are numerous bipartisan proposals to shore up the system for the long term, from raising the payroll tax cap to gradually adjusting benefits. These aren’t radical ideas, they’re common-sense repairs. A bipartisan mix of 100 CFPs in a room could work out a solution in two days.
When clients ask me if the system will be around in five years, what they’re really asking is: Can I trust it? Can I trust the government? Can I trust that my years of work and tax payments will mean something in retirement? These are not just policy questions. They are emotional questions based on fear of scarcity and a desire for security. When someone with Elon Musk’s influence wrongly calls Social Security a Ponzi scheme, his attention-grabbing soundbite shakes the emotional foundation of that trust.
If we’re serious about preserving Social Security, let’s start by calling it what it is: a commitment to our elders. A tax-supported promise to care for one another across generations.
Social Security is not a fraud, it’s a shared responsibility based on the kind of society we want and woven into the fabric of American life. Yes, it needs some adjustments, but it’s not broken. Rather than eroding public trust with misleading comparisons, we should be focused on debating public policy and how we can strengthen and sustain the program for future generations.
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ME-P NOTE: An increase in Social Security benefits is on the horizon, providing a potential financial cushion against rising inflation. The Cost of Living Adjustment (COLA) for 2025 is set at 2.5% monthly, translating to an average annual increase of approximately $600 for beneficiaries. This adjustment is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers. While not guaranteed annually, COLA has historically been implemented in most years due to persistent inflationary trends.
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By Vitaliy Katsenelson CFA
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Tesla market value of $780 billion mostly reflects Elon’s future dreams, not car sales. The reality? Only $100-180 billion tied to the actual vehicle business.
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Tesla has a market capitalization as of this writing of $780 billion. It made around $14 billion of profit in 2023 and $7 billion in 2024. A good chunk of profit comes not from selling cars but from regulatory credits. It sold fewer cars in 2024 than in 2023. Unless we see a significant shift change in battery capacity, speed of charging, and improved quality and availability of charging infrastructure, we have reached peak EV penetration (I wrote about this earlier).
However, today Tesla is not trading based on car sales but on future dreams of self-driving robo-taxis, robots, semis, and whatever else Elon dreams up. The car company may be worth $100–180 billion; the rest is what investors are willing to pay for Elon’s dreams.
Quick thoughts on each dream:
Self-driving: I would not trust my life or my kids’ lives to a car company that only uses cameras. They are passive sensors that have limited range and are easily impacted by bad weather. I’ve used Tesla self-driving software – it is great most of the time, except when it’s not – and then it might kill you or others.
Robo-taxis: They may work in geo-fenced areas, but they pose a huge reputational risk to Tesla. One death and this business is done. That’s what happened to Uber’s self-driving business, and why Google’s Waymo has taken a much more conservative route. It uses radar/lidar and launched the service in geo-fenced areas first.
Semis: They were announced in 2017 and were going to hit the road the next year. They are still not out there. I suspect Elon is waiting for a breakthrough in battery technology.
Robots: Exciting, huge market, but this will be a crowded field.
New competition: There are lots of Chinese EVs invading Europe and the rest of the world. BYD looks like a real competitor.
China looked like a great opportunity for Tesla, but may turn into a liability if the trade war intensifies.
Finally, though at times he seems superhuman, Musk is constrained by the number of hours in the day. As of today he is running Tesla, SpaceX, Twitter (x.com), xAI (the maker of Grok – a ChatGPT competitor), The Boring Company, Neuralink, and oh, yes, DOGE. The EV market is getting more, not less, competitive.
Tesla needs an un-distracted Elon Musk.
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USPS open, as usual, today
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Stat: 11%. That’s the share of US residents who said they couldn’t afford medical care or medication over a three-month period, according to a new Gallup survey. (the New York Times)
An epic stock-market bounce turned into a historic fizzle, extending the bruising selloff sparked by President Donald Trump’s sweeping tariff measures to a fourth straight session.
SPX-1.57% saw an intra-day gain of 4.05% evaporate to end with a loss of 1.6%, marking its biggest blown percentage gain since Oct. 14th, 2008, during the darkest days of the 2007-09 financial crisis. And it’s the first time the S&P 500 was up more than 4% at its intra-day high but finished with a loss of more than 1%, based on data going back to 1978, according to Dow Jones Market Data.
DJIA-0.84% rallied 1,461 points, or 3.85%, at its intra-day peak, but ended the day down more than 400 points, its biggest erased percentage gain since April 2020.The tech-heavy NASDAQ Composite.
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Roughly $2.5 trillion was erased from the S&P 500 Index on Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession. The damage was heaviest in companies whose supply chains are most dependent on overseas manufacturing. Apple Inc., which makes the majority of its US-sold devices in China, fell 9.3%. Lululemon Athletica Inc. and Nike Inc., among companies with manufacturing ties to Vietnam, were both down more than 9%. Target Corp. and Dollar Tree Inc., retailers whose stores are filled with products sourced outside of the US, dropped more than 10%.
The tech-heavy NASDAQ Composite (^IXIC) led the sell-off, plummeting 6%. The S&P 500 (^GSPC) sank nearly 5%, while the Dow Jones Industrial Average (^DJI) tumbled 4%. The Dow’s 1,700-point drop was the fifth-worst in its history.
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Donald Trump has officially dropped a stablecoin. It’s called USD1, and it’s pegged 1:1 with the US dollar, according to a statement from his family company World Liberty Financial Inc, (WLFI) today. The company says the token is fully backed by short-term US government treasuries, USD deposits, and other cash equivalents. Every token equals one dollar, no exceptions. WLFI says it built the whole thing to give people a stablecoin they don’t have to second guess.
US stocks rose for a third day in a row despite souring consumer confidence — and as investors weighed whether President Trump would temper his plans for upcoming tariffs.
The benchmark S&P 500 (^GSPC) rose more than 0.1%, while the Dow Jones Industrial Average (^DJI) ticked just above the flatline. The tech-heavy NASDAQ Composite (^IXIC) rose nearly 0.5%, bolstered by a more than 3% jump from Tesla (TSLA).
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We are embarking on the ambitious task of highlighting some big moments from the last 25 years of healthcare.
US stocks closed near session highs on Monday as investors welcomed reports that the next wave of President Trump’s tariffs will be narrower than expected.
The S&P 500 (^GSPC) rose almost 1.8% on the heels of the broad benchmark snapping a four-week losing streak. The Dow Jones Industrial Average (^DJI) advanced 1.4%, while contracts on the tech-heavy NASDAQ Composite (^IXIC) led the gains, up 2.3%.
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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: Drugs and Pharma, Ethics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: DJIA, DOW, healthcare, healthcare history, Marcinko, NASDAQ, politics, S&P 500, stocks, stocks soar, tariffs, Technology, textbooks, Trump | Leave a comment »
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Base-Erosion Anti-Abuse Tax (BEAT): The 2017 tax reforms moved the U.S. from a worldwide taxation system to a quasi-territorial system, so foreign earnings are no longer included in a company’s domestic tax base.
To discourage companies operating in the U.S. from avoiding tax liability by shifting profits out of the country, Congress imposed a 10% minimum tax called Base-Erosion Anti-Abuse Tax (BEAT). The BEAT rate will increase from 10% to 12.5% in 2026.
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The Reform of “Free” State Education: Arthur Seldon and the Education Voucher Scheme (1957-88), Hsiao-Yuh KuHistory of Education: , v53 n4 p748-772 2024
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Arthur Seldon (1916-2005) was a significant British neo-liberal economist in the second half of the twentieth century. From 1957 to 1988, as the “engine room” of the Institute of Economic Affairs, Seldon had been advocating the reform of “free” state education. He vigorously argued for education vouchers, by which each parent could be provided with purchasing power and school choice.
From the mid-1960s, his ideas gradually attracted the attention of the Conservatives and contributed to the rise of the New Right and Thatcherism in the 1980s. Despite this, previous literature seldom explores Seldon’s work in relation to education in greater depth. To fill the lacuna, this paper aims to provide a deeper understanding of Seldon’s neo-liberal ideas about education and his approaches in promoting reform agenda.
READ: https://eric.ed.gov/?q=source%3A%22History+of+Education%22&ff1=subPolitics+of+Education&id=EJ1428693
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Community Health Center, Inc. (CHC) detected a data breach on Jan. 2 after identifying unusual activity within its computer systems. An investigation confirmed that a skilled hacker had accessed and extracted data but did not delete or lock any information. If CHC’s claims are accurate, this is a positive outcome, as hackers often deploy ransomware, a type of attack in which they lock systems and demand payment before restoring access.
Over one million Floridians have had their health insurance revoked as a result of a nationwide disenrollment from coverage that was previously safeguarded as part of the COVID-19 pandemic response. Medicaid and Children’s Health Insurance Program (CHIP) enrolment in Florida has fallen from 5.1 million to 3.8 million between March 2023 and October 2024, according to health care research non-profit the Kaiser Family Foundation (KFF).
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US stocks bounced back on Monday as investors looked beyond President Trump’s latest tariff threats, including new levies on steel and aluminum imports.
The Dow Jones Industrial Average (^DJI) added nearly 0.4% after the blue-chip index on Friday booked its worst loss in nearly four weeks. The S&P 500 (^GSPC) rose roughly 0.6%, while the NASDAQ Composite (^IXIC) popped nearly 1% as shares of AI chip giant Nvidia (NVDA) surged 3%, along with other tech stocks.
Investors weighed Trump’s recent pledge to introduce additional 25% tariffs on steel and aluminum from all countries, with the official announcement expected on Monday.
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: Career Development, Drugs and Pharma, Ethics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: China, CHIP, Community Health Center, covid, data breach, data hack, economy, KFF, news, Nvidia, politics, RansomWare, tariff, Trump | Leave a comment »
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A trilemma refers to a situation in which three options are available, but only two can be chosen at a time. It is a situation in economics and international finance in which all three possible options are difficult or nearly impossible to achieve. Unlike a dilemma, which has two options, a trilemma has three options, all of which cannot be selected at once.
The impossible trinity is an example of a trilemma in economics. In an impossible trinity, a country can’t have a fixed exchange rate, independent monetary policy, and free capital movement all at once. A country can achieve only two out of the three policy objectives.
The impossible trinity involves a third option as a trilemma constraint, which cannot be achieved with the selected two options. It means that the selection of any two options will make it necessary to sacrifice the third beneficial option. It is like a three-way trade-off.
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Filed under: "Ask-an-Advisor", Experts Invited, Funding Basics, Glossary Terms, Investing | Tagged: books, dilemma, economics, economics trilemma, imposible trinity, monetary policy, news, politics, three options, trilemma, trilemma economics, two options | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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Just moments after he was appointed by President Donald Trump to be the new acting director of the Consumer Financial Protections Bureau, Treasury Secretary Scott Bessent moved to halt the agency’s work investigating financial abuses and regulating deceptive banking practices impacting American consumers, according to a memo sent to employees and obtained by Scripps News.
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This year is expected to be busy with healthcare mergers and acquisitions (M&A). Consulting company PwC reported that annual healthcare deals shot up 70% through November 15th compared to pre-Covid trends, and projected the trend will continue into 2025.
US stocks fell on Monday in reaction to the Trump administration’s scheduled tariff rollout against Canada and China, though the major averages pared heavier losses after President Donald Trump said the US would delay duties on Mexican imports by a month.
The tech-heavy NASDAQ Composite (^IXIC) closed down 1.2%, recouping a chunk of its earlier losses. Meanwhile, the S&P 500 (^GSPC) fell roughly 0.7%, and the Dow Jones Industrial Average (^DJI) fell 0.3%.
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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: Drugs and Pharma, Ethics, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: Bessent, DJIA, Donald Trump, DOW, FTC, Healthcare M&As, M&As, Marcinko, NASA, NASDAQ, news, PBMs, politics, PwC, S&P 500, Scripps News, textbooks, TNX, Trump, united-states, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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UnitedHealthcare has agreed to a $2.5 million settlement in response to a class action lawsuit accusing the company of making unauthorized telemarketing calls. More than 12,000 individuals may be entitled to compensation, with payouts ranging from $350 to $1,000 per person, depending on how many claims are filed.
The lawsuit, filed under the Telephone Consumer Protection Act (TCPA), alleges that UnitedHealthcare placed calls to individuals without their consent between January 9, 2015, and January 9th, 2019. If you received these calls, you could be eligible for a cash settlement—but you must act before April 15th, 2025.
PALM BEACH, Fla. (AP) — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover. Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since Trump took office on Jan. 20th.
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A 2020 STAT analysis found more than two-thirds of Congress receiving a check from pharmaceutical companies that year. More recent data from Open Secrets likewise confirms that a large majority of leaders serving in the U.S. Congress and Senate receive significant contributions from pharmaceutical or health products companies, averaging $45,000 and $47,000 for Republicans and Democrats in the House of Representatives, respectively — and $50,000 and $69,000 for Republicans and Democrats in the Senate.
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Filed under: Breaking News, Drugs and Pharma, Ethics, Financial Planning, Funding Basics, Glossary Terms, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: big, cash settlement, CFPB, Consumer Financial Protection Bureau, Donald Trump, Health Insurance, lawsuit, Marcinko, open secrets, pharmaceutical company checks, politics, Rohit Chopra, TCPA, Telephone Consumer Protection Act, Trump, UHC, UnitedHealthcare | Leave a comment »
By Health Capital Consultants, LLC
In the first days of his second (nonconsecutive) presidential term, Donald Trump and his administration took a number of actions that will affect the healthcare industry in the near- and long-term. Further, the Trump Administration is reportedly poised to take a number of additional actions to pause, end, or otherwise change Biden-era initiatives.
Meanwhile, President Trump’s cabinet pick for the Department of Health & Human Services (HHS) hangs in the balance. This Health Capital Topics article reviews the new administration’s actions impacting the healthcare industry as of the date of publication. (Read more...)
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Filed under: "Doctors Only", Career Development, Estate Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc. | Tagged: Department Health & Human Services, Donald Trump, health, Health Capital Topics, healthcare, healthcare industry, HHS, news, politics, Trump | Leave a comment »
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Capital is not flowing from developed countries to developing countries despite the fact that developing countries have lower levels of capital per worker, and therefore higher returns to capital.
Classical economic theory predicts that capital should flow from rich countries to poor countries, due to the effect of diminishing returns of capital. Poor countries have lower levels of capital per worker – which explains, in part, why they are poor. In poor countries, the scarcity of capital relative to labor should mean that the returns related to the infusion of capital are higher than in developed countries.
In response, savers in rich countries should look at poor countries as profitable places in which to invest. In reality, things do not seem to work that way. Surprisingly little capital flows from rich countries to poor countries.
This puzzle, famously discussed in a paper by Robert Lucas in 1990, is often referred to as the “Lucas Paradox”.
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Filed under: "Ask-an-Advisor", Ethics, Experts Invited, Funding Basics, Glossary Terms, iMBA, Inc., Investing, Taxation | Tagged: 2024, classic economics, Diminishing Returns, iMBA, Lucas paradox, marxism, philosophy, politics, Robert Lucas | Leave a comment »
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And, the U.S. economy added a much larger-than-expected total of new hires last month, adding more upward pressure to wage inflation and likely stoking a further selloff in U.S. Treasury bonds.
The Bureau of Labor Statistics said 256,000 new jobs were created last month, well ahead Wall Street’s 164,000 forecast and the down-wardly revised 212,000 reading from November.
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Finally, Wall Street’s major averages are tumbling today as investors digested the hotter than expected jobs report. Early on and the S&P 500 (SP500) was -1.7%, the NASDAQ Composite (COMP:IND) was -2.2%, and the Dow (DJI) was -1.3%.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Breaking News, Experts Invited, Financial Planning, Funding Basics, Glossary Terms, Investing | Tagged: BLS, bon sell off, China, china bonds, china central bank, China Economy, chinease currency, DJIA, economy, finance, Larry Hu, Macquarie, NASDAQ, news, politics, S&P 500, US bonds, USBLS, wage inflation, Wall Street, yuan | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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China’s stock market suffered its worst start to a year in nearly a decade, as investors brace for Donald Trump to impose tariffs on the world’s second-largest economy. The CSI 300 index closed down 2.9pc on Thursday, marking its steepest drop on the first day of annual trading since 2016, while the Hang Seng in Hong Kong fell 2.2pc.
The fall for US stocks accompanied a rally in the dollar, a popular haven, which set a fresh two-year high Thursday and opened little changed Friday. The yen climbed in early trading after a third daily decline against the greenback in the prior session. The moves are a sign the selling that has sapped US equities over the past week may be starting to turn. Investors are preparing to implement asset-allocation strategies for the 2025 year ahead after a rocky end to 2024.
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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: Funding Basics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: 2024, 2025, asset allocation, China Stock Market, CSI, DJIA, DOW, Hang Seng Index, Marcinko, NASA, NASDAQ, news, politics, S&P 500, textbooks, TNX, Trump, VIX, WSJ, Yen | Leave a comment »
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The Backfire Effect refers to the strengthening of a belief even after it has been challenged.
Cook and Lewandowsky (2011) explain it very well in the context of changing people’s minds in their Debunking Handbook. The backfire effect may work based on the same foundation as Declinism, in that we do not like change. It is also similar to negativity bias, in that we wish to avoid losing and other negative outcomes—in this case, one’s idea is being challenged or rejected (i.e. perceived as being made out to be “wrong”) and thus, they may hold on tighter to the idea than they had before.
However, according to colleague Dan Ariely PhD, there are caveats to the backfire effect—for example, we also tend to abandon a belief if there’s enough evidence against it with regard to specific facts.
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Filed under: Book Reviews, Career Development, Ethics, Experts Invited, Glossary Terms, Marketing & Advertising, mental health | Tagged: backfire effect, beliefs, bias, cognitive bias, Cook Lewandowsky, Dan Ariely, Debunking Handbook, declinism, Marcinko Associates, mental health, mind effect, negativity bias, politics, programming | Leave a comment »
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Pro hac vice is Law Latin that means “for this time [only]” (literally, “for this turn”). When a lawyer is admitted to a case pro hac vice, a court has granted them a limited license to practice in a jurisdiction where they otherwise would not be licensed to do so.
For example, a lawyer licensed only to practice in California may nonetheless practice in a New York case once a court has granted them admission pro hac vice, so long as the lawyer practices only within the limited scope of their pro hac vice admission. In almost all U.S. jurisdictions, lawyers who practice pro hac vice must do so in conjunction with a local lawyer acting as local counsel. Local counsel typically acts as an anchor to the bar of a foreign jurisdiction, exposing local counsel to liability for the acts or omissions of the lawyer admitted pro hac vice. Local counsel therefore usually assumes, at a minimum, a role of monitoring the lawyer admitted pro hac vice.
READ: https://www.law.cornell.edu/wex/pro_hac_vice
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Filed under: "Ask-an-Advisor", Ethics, Experts Invited, Glossary Terms, Health Law & Policy, Risk Management | Tagged: attorney, attorneys, bar, foreign jurisdiction, JD, jurisdication, law, law license, lawyer, lawyers, legal, news, politics, pro hac vice | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Stocks ended the session little changed on Friday despite Broadcom’s (AVGO) jump to all-time highs driven by the chipmaker’s bullish AI-fueled sales forecast.
The S&P 500 (^GSPC) closed flat while the tech-heavy NASDAQ Composite (^IXIC) gained 0.1%. The Dow Jones Industrial Average (^DJI) slipped 0.1%
The fight between payers and anesthesiologists isn’t over, despite Anthem Blue Cross Blue Shield (BCBS) reversing plans for a policy that would put time limits on commercial claims for anesthesia coverage. The policy would have set a time limit for claims by procedure, with the exception of maternity and pediatric care, in New York, Connecticut, and Missouri starting next year. It called for providers “requiring more time than set or recommended by these standards” to undergo the insurance company’s claim dispute process in order to get paid, according to a statement Anthem provided to FOX61 in November.
The plan received backlash from everyone, from anesthesiologists to New York Governor Kathy Hochul.
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Filed under: Accounting, Drugs and Pharma, Ethics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: anesthesia, anesthesiology, Anthem, BCBS, DJIA, DOW, Fox, Investing, Marcinko, MD, NASA, NASDAQ, politics, S&P 500, Technology, textbooks, TNX, VIX, WSJ | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
FRIDAY 13th = Triskaidekaphobia
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
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The Dow Jones Industrial Average (^DJI) was down and the S&P 500 (^GSPC) were both about 0.5%. The tech-heavy NASDAQ Composite (^IXIC) fell roughly 0.6% while shares of Apple (AAPL) rallied less than 1% to close at a record high.
In bonds, the 10-year Treasury yield (^TNX) added 5 basis points to hit 4.32%, its highest closing level since November 22nd.
On a day where President-elect Donald Trump rang the opening bell at the New York Stock Exchange, Wall Street failed to build on a furious rally that has picked up steam after his election win. In focus was fresh inflation data, which helped cast doubt on investor confidence for the path of interest rates ahead.
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Filed under: "Ask-an-Advisor", Accounting, Financial Planning, Funding Basics, Health Economics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: 10 year treasury yield, 13th, Apple, DJIA, Donald Trump, DOW, finance, Friday, Investing, m stocks slide, Marcinko, NASA, NASDAQ, politics, S&P 500, stock markets, stocks slide, textbooks, TNX, Treasury Yield, tristadecaphobia, Trump, VIX, Wall Street, WSJ | Leave a comment »
DEFINITION
By Staff Reporters
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Incentives: It is broadly accepted that incenting someone to do something is effective, whether it be paying office staff a commissions to sell more healthcare products, or giving bonuses to office employees if they work efficiently to see more HMO patients. Some experts even suggest there are five specific components1 that should be built into an overall physician incentive program:
What is not well understood is that the incentives cause a sub-conscious distortion of decision-making ability in the incented person. This distortion causes the affected person – whether it is yourself or someone else – to truly believe in a certain decision, even if it is the wrong choice when viewed objectively. Service professionals, including financial advisors and lawyers, are affected by this bias, and it causes them to honestly offer recommendations that may be inappropriate, and that they would recognize as being inappropriate if they did not have this bias.
According to colleague Dan Ariely PhD, the existence of this bias makes it important for each one of us to examine our incentive biases and take extra care when advising physician clients, or to make sure we are appropriately considering non-incented alternatives.
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Filed under: "Doctors Only", Accounting, Drugs and Pharma, Ethics, Funding Basics, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Managed Care, Marcinko Associates | Tagged: Dan Ariely PhD, doctor incentives, HMO, incentives, incentives in medicine, Managed Care, Marcinko, mental health, patients, physician incentives, politics, PPO, psychology, recovery, society | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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Happy First Day of Winter
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To sell information you need to give it away before the sale
By Dr. David Edward Marcinko MBA MEd
SPONSOR: http://www.MarcinkoAssociates.com
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THE FATHER OF HEALTH ECONOMICS
According to Wikipedia, a fundamental tenet of the paradox is that the customer, i.e. the potential purchaser of the information describing a technology (or other information having some value, such as facts), wants to know the technology and what it does in sufficient detail as to understand its capabilities or have information about the facts or products to decide whether or not to buy it. Once the customer has this detailed knowledge, however, the seller has in effect transferred the technology to the customer without any compensation. This has been argued to show the need for patent protection [HIPPA].
CITE: https://www.r2library.com/Resource/Title/0826102549
If the buyer trusts the seller or is protected via contract, then they only need to know the results that the technology will provide, along with any caveats for its usage in a given context. A problem is that sellers lie, they may be mistaken, one or both sides overlook side consequences for usage in a given context, or some unknown-unknown affects the actual outcome.
MORE :https://www.nobelprize.org/prizes/economic-sciences/1972/arrow/facts/
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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
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SPONSORED BY: Marcinko & Associates, Inc.
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| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
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Here’s where the major benchmarks ended:
CITE: https://tinyurl.com/tj8smmes
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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Filed under: "Ask-an-Advisor", Financial Planning, Funding Basics, iMBA, Inc., Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: CBOE, DJIA, Donald Trump, DOW, economy, iMBA, Marcinko, NASDAQ, news, politics, S&P 500, SPX, textbooks, TNX, Trump, trump elected, VIX | Leave a comment »
MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING
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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants
“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“
A Partner of the Institute of Medical Business Advisors , Inc.
http://www.MedicalBusinessAdvisors.com
SPONSORED BY: Marcinko & Associates, Inc.
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http://www.MarcinkoAssociates.com
| Daily Update Provided By Staff Reporters Since 2007. How May We Serve You? |
| © Copyright Institute of Medical Business Advisors, Inc. All rights reserved. 2024 |
REFER A COLLEAGUE: MarcinkoAdvisors@msn.com
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Ikea’s revenue fell for the first time in four years after it lowered prices to spark an increase in orders.
CITE: https://www.r2library.com/Resource
Here’s where the major benchmarks ended:
CITE: https://tinyurl.com/tj8smmes
Fidelity Investments has notified 77,099 people that their personal information was stolen in an August data breach. he mega asset manager has not disclosed what data the digital crooks nabbed, but assured customers that the security snafu “did not involve any access to your Fidelity account(s).” But hey, no worries, the firm claimed no evidence of data misuse.
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By Staff Reporters
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Filed under: Alternative Investments, Financial Planning, Funding Basics, Investing | Tagged: Art, Bitcoin, finance, gold, Investing, oil, politics, stocks, travel | Leave a comment »
My Laundry Wish List for all US Healthcare Stakeholders
By Dr. David Edward Marcinko; MBA, CMP™
[Publisher-in-Chief]
As President Obama spoke, prodded and cajoled for Congress to pass HR 3200-3400 in 2008, I believe that for any healthcare reform effort to work successfully for the American people – for the long term – we need to consider the following in no particular prioritized order:
Assessment
Recently, while in the Baltimore/Washing area, I was asked by several reporters to opine on the healthcare debate; which I did so freely having never been known as the shy type. And, regular readers will note that many of these items have been used as posts or comments on this ME-P. Unfortunately, my “laundry list” interview was pre-empted by two local but boisterous town-hall meetings with respective passionate politicians. It was redacted no doubt, but never broadcast. Thus, I missed the potential for my “five minutes” of fame. C’est la vive!
Conclusion
There you have it; direct and straight forward. And so, your thoughts and comments on this Medical Executive-Post are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.
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Filed under: Career Development, Drugs and Pharma, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Interviews, Managed Care, Op-Editorials | Tagged: ADA, AMA, CCHIT, CPT codes, CRNAs, david marcinko, dentists, DNPs, DNV, ER, evidence based medicine, expert based medicine, Fox news, Health Insurance, healthcare reform, hospitalists, HR 3200, HR 3400, HSAs, JCAHO, malpractice reform, medicare, never-events, NPs, nurses, obama, osteopaths, P4P, podiatrists, politics, retail medical clinics, RNs, tort reform, townhall meetings | 6 Comments »
Understanding the TAX loophole of a ‘step up’ in BASIS value
By Dr. David E. Marcinko MBA CMP®
SPONSOR: http://www.CertifiedMedicalPlanner.org
The term “step-up” refers to the difference in value and tax liability that an asset has when it is acquired and when it is transferred to an inheritor.
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CITE: https://www.r2library.com/Resource/Title/0826102549
EXAMPLE #2: The proverbial millionaire Doctor Joe, for example, could buy a home for $350,000 and sell it for $1 million, after which he’d pay taxes on the $650,000 gain. But if Dr. Joe passes the home onto his daughter Ella, and she has it appraised at $1 million, its value has taken a “step up” in value to $1 million. If Ella sells the home for $1 million or less, she wouldn’t owe anything in taxes.
ASSESSMENT: For billionaires like Jeff Bezos, Bill Gates and Elon Musk who earn far more through their investments than their salaries, this loophole is a perfect way to shield their wealth. Intergenerational wealth has contributed to surging inequality in America, which grew wider during the pandemic. Since 2019, the wealth of the top 400 richest people in the US increased by $1.4 trillion, per research from Gabriel Zucman and Emmanuel Saez, a pair of left-leaning economists at the University of California, Berkeley.
“Often, for these people, wealth accumulates tax-free their entire lives,” Frank Clemente, executive director at the left-leaning advocacy group Americans for Tax Fairness, opined. President Joe Biden proposed ending this loophole and making billionaires “pay their fair share,” so why does it look like his party won’t touch it?
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Surprised or Not?
As the presidential election continues to heat up for “Super Tuesday” this March 6th 2012 – and candidates are weeded out – we look to their bankrolls to learn who has the most cash in the bank, and who’s funding their campaigns.
Source: creditsesame.com
Assessment
From small donors to large, and donations from men versus women, do these numbers surprise you?
Conclusion
And so, your thoughts and comments on this ME-P are appreciated. Please review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.
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Foibles of Industry Movers-Shakers
New Beta Feature
By Staff Reporters
What it is – How it works
The Industry Indignation Index [III] is an occasional survey feature of the Medical Executive-Post. Our goal is to chronicle the dubious, ironic or humiliating behavior that we humans in the healthcare industrial, financial and health economics complex are prone to do or say. Related sectors are fertile topics, as well.
Our Industry Indignation Score Card
The mathematical scores measured on a scale of 1 [just smelly and cheesy] – to 100 [utterly indignant and totally shameless] are subjective and not-statistically significant. They are non-representative samples however, of the obnoxious behavior of some in the news and their public foibles.
User Generated Content
Feel free to send in your items, stories or political gossip for consideration. We will rate-em, rank-em, post-em, and do the rest for you!
Conclusion
And so, your thoughts and comments on this new Medical Executive-Post feature are appreciated.
Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com or Bio: www.stpub.com/pubs/authors/MARCINKO.htm
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