What's really propping up the economy (healthcare jobs)

[DuaneBidoux]

What's Really Propping Up The Economy

Since 2001, the health-care industry has added 1.7 million jobs. The rest of the private sector? None

<http://www.businessweek.com/magazine/content/06_39/b4002001.htm>

[Parisle]

1. That Was A Shock,.. But Let's Not Forget About "Debt"

---- "Debt," pure and simple, may be seen in another way as propping up the economy. Someone buys something on credit, ie, with money they don't have.. and may even end up defaulting on,.... but the person theoretically receiving the as-yet un-transferred funds gets a positive tick in their own account balance. Money! And they may spend it immediately. I realize this is a perversion of the "velocity of money" concept,.. but we do, in fact, "create" money by borrowing and going into debt. It's a sick system.

---- Gov't debt,.. T-bills, etc used chiefly to finance war, defense contractors, military salaries, etc,...is a net loss. We pay debt service payments for money that doesn't earn anything,... Hardly the same as borrowing money to start a business or build a house. But there is certainly plenty of it.

---- Consumer debt was just revised upwards by about $150 billion more than was reported for August,... and we have had a negative savings rate for some time, now. But debt is what keeps all those goods and services moving, eh? And that IS the economy.

[NOLADEM]

2. As medicare is destroyed and baby boomers die off

This too will pass.

The only reason this is so is that they cannot outsource all of the healthcare jobs. They do outsource x-ray interpretation and transcription now. Medical devices are also being offshored at a tremendous rate, with future disasterous effects for the Ohio/Indiana economy.

[rainbow4321]

3. Opposite of out-sourcing

is what hospitals are doing..bringing in cheap labor from places like the Philippines or forcing out experienced nurses and bringing in new US grads who make a lot less $$$. The ratio of experienced vs new nurses scares the hell out of me. The new nurses "don't know what they don't know" so they don't ask for help from the experienced nurses..and I am seeing patient care compromised. Bring it to managment's attention and you're told to "support the new nurses". Apparently any attempt at trying to correct their nursing care is not seen as supporting them in the eyes of our management.
All the hospitals want nowadays is someone with a pulse and a nursing license..preferably a new license so they can get paid cheap so as not to interfere w/ the hospital cash flow.
Be very careful if you or a loved one is in the hospital, folks...forget all the patient friendly signs/pamphlets you are handed or that are on the walls. They don't give a rat's ass about you getting safe health care, all they want is your $$$.