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	<title>Comments on: Inflation? What Inflation? (NYT Edition)</title>
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	<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/</link>
	<description>Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media</description>
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		<title>By: BobC</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86485</link>
		<dc:creator>BobC</dc:creator>
		<pubDate>Sat, 10 May 2008 14:49:55 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86485</guid>
		<description>Looks like we can&#039;t afford education or health care. So we are stupid, and will die young, but we look good and are able to call our friends on our cell phones and talk about it.
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		<content:encoded><![CDATA[<p>Looks like we can&#8217;t afford education or health care. So we are stupid, and will die young, but we look good and are able to call our friends on our cell phones and talk about it.</p>
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		<title>By: Grodge</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86484</link>
		<dc:creator>Grodge</dc:creator>
		<pubDate>Sat, 10 May 2008 13:08:25 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86484</guid>
		<description>On further perusal, i see that Roman did not explicitly pick on doctors&#039; salaries.

But look at the cost of medical devices and what they pay their sales people.  The cost of pharmaceuticals, especially me-too drugs, the cost of long term care, the cost of unnecessary care such as cosmetic surgery and the cost of uncovered care for folks who elect not to have insurance and get sick or injured.


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		<content:encoded><![CDATA[<p>On further perusal, i see that Roman did not explicitly pick on doctors&#8217; salaries.</p>
<p>But look at the cost of medical devices and what they pay their sales people.  The cost of pharmaceuticals, especially me-too drugs, the cost of long term care, the cost of unnecessary care such as cosmetic surgery and the cost of uncovered care for folks who elect not to have insurance and get sick or injured.</p>
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		<title>By: Grodge</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86483</link>
		<dc:creator>Grodge</dc:creator>
		<pubDate>Sat, 10 May 2008 13:02:29 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86483</guid>
		<description>Health care costs are up because doctors are moochers?!!!

Roman, you are a man who has no real understanding of medical economics.  Health care costs are much much more than doctors&#039; salaries and every cost in medicine has increased exponentially more than doctors&#039; salaries.  Furthermore, all doctors do not make the same salary.

I know this is a minor point and this thread is old (I would have responded sooner but I was too busy putting in an 80-hour week to make the same salary i did in 1998), but a little more rigor in needed before castigating an entire profession.  Idiot.


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		<content:encoded><![CDATA[<p>Health care costs are up because doctors are moochers?!!!</p>
<p>Roman, you are a man who has no real understanding of medical economics.  Health care costs are much much more than doctors&#8217; salaries and every cost in medicine has increased exponentially more than doctors&#8217; salaries.  Furthermore, all doctors do not make the same salary.</p>
<p>I know this is a minor point and this thread is old (I would have responded sooner but I was too busy putting in an 80-hour week to make the same salary i did in 1998), but a little more rigor in needed before castigating an entire profession.  Idiot.</p>
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		<title>By: Melancholy Korean</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86482</link>
		<dc:creator>Melancholy Korean</dc:creator>
		<pubDate>Wed, 07 May 2008 21:42:39 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86482</guid>
		<description>&quot;Education is troubling. It is self-reinforcing of creating classes based not on ability or desire but wealth.&quot;

Exactly.  It&#039;s not about education, especially at the top end.  It&#039;s about maintaining the luxury Ivy League brand.

There&#039;s no economic reason why Yale, to take one example, which has an endowment of almost 23 billion (thank you David Swensen!) can&#039;t be tuition free.  Except, of course there is.  Wouldn&#039;t be Yale or Princeton if everyone who is smart enough to be accepted could go, right?

To quote Birmingham, &quot;According to the best possible source - the Social Establishment itself - the most important college, socially, is Yale.  Princeton has more glamour, but Yale is solider.&quot;

What.  You thought GW Bush got in on his merits?  Oh, I forgot.  Head cheerleader at Andover.  Impressive.
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		<content:encoded><![CDATA[<p>&#8220;Education is troubling. It is self-reinforcing of creating classes based not on ability or desire but wealth.&#8221;</p>
<p>Exactly.  It&#8217;s not about education, especially at the top end.  It&#8217;s about maintaining the luxury Ivy League brand.</p>
<p>There&#8217;s no economic reason why Yale, to take one example, which has an endowment of almost 23 billion (thank you David Swensen!) can&#8217;t be tuition free.  Except, of course there is.  Wouldn&#8217;t be Yale or Princeton if everyone who is smart enough to be accepted could go, right?</p>
<p>To quote Birmingham, &#8220;According to the best possible source &#8211; the Social Establishment itself &#8211; the most important college, socially, is Yale.  Princeton has more glamour, but Yale is solider.&#8221;</p>
<p>What.  You thought GW Bush got in on his merits?  Oh, I forgot.  Head cheerleader at Andover.  Impressive.</p>
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		<title>By: JL</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86481</link>
		<dc:creator>JL</dc:creator>
		<pubDate>Wed, 07 May 2008 21:22:18 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86481</guid>
		<description>A Reyburn and others:

It is absolutely ridiculous to hack on teachers. They are underpaid both in nominal terms and in particular when taking into the amount of work that they put in trying to educate YOUR BRATTY-ASS KIDS.  I&#039;m not a teacher but have friends and family who are... they get up butt-early in morning, pay for class room supplies out of their own pocket, get no salary during vacations, are expected to continually get training and education just keep their certs etc etc. If only the same would be true for the office monkeys who obviously have so much time on their hands that they can sit and write comments on this blog [snark].

Also, with assaults (physical and psychological) on the rise in American schools and on campuses, to claim that there is no risk is arrogant, ignorant and preposterous.

Maybe you should educate your own damn kids if the teachers aren&#039;t worth the money? But that would mean that you had to spend time with the little shits wouldn&#039;t it - and who the hell would wanna do that?

Oh yeah, the teachers do...
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		<content:encoded><![CDATA[<p>A Reyburn and others:</p>
<p>It is absolutely ridiculous to hack on teachers. They are underpaid both in nominal terms and in particular when taking into the amount of work that they put in trying to educate YOUR BRATTY-ASS KIDS.  I&#8217;m not a teacher but have friends and family who are&#8230; they get up butt-early in morning, pay for class room supplies out of their own pocket, get no salary during vacations, are expected to continually get training and education just keep their certs etc etc. If only the same would be true for the office monkeys who obviously have so much time on their hands that they can sit and write comments on this blog [snark].</p>
<p>Also, with assaults (physical and psychological) on the rise in American schools and on campuses, to claim that there is no risk is arrogant, ignorant and preposterous.</p>
<p>Maybe you should educate your own damn kids if the teachers aren&#8217;t worth the money? But that would mean that you had to spend time with the little shits wouldn&#8217;t it &#8211; and who the hell would wanna do that?</p>
<p>Oh yeah, the teachers do&#8230;</p>
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		<title>By: Nick</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86480</link>
		<dc:creator>Nick</dc:creator>
		<pubDate>Wed, 07 May 2008 20:59:00 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86480</guid>
		<description>I&#039;d love to see the chart with all the hedonic regression &quot;adjustments&quot; removed. Even better, I&#039;d love to see the government forced to acknowledge the CPI is utter BS because of them, and turn it over to a consortium of colleges for independent maintenance. Believing the CPI is like taking the NAR&#039;s real estate market predictions as unbiased...
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		<content:encoded><![CDATA[<p>I&#8217;d love to see the chart with all the hedonic regression &#8220;adjustments&#8221; removed. Even better, I&#8217;d love to see the government forced to acknowledge the CPI is utter BS because of them, and turn it over to a consortium of colleges for independent maintenance. Believing the CPI is like taking the NAR&#8217;s real estate market predictions as unbiased&#8230;</p>
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		<title>By: Flic</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86479</link>
		<dc:creator>Flic</dc:creator>
		<pubDate>Wed, 07 May 2008 20:35:07 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86479</guid>
		<description>It doesn&#039;t seem to be talked about much but I think Education costs are similar to the housing bubble.  Since it got easier to pay for college thanks to phantom home equity/ HELOC&#039;s and the fact any 18 y/o dolt being able to get a $80k+ student loan, the colleges just went along for the ride.  If less people could afford it, costs should come down....should they not??  Stop making it so easy to take on massive amounts of debt and maybe people wouldn&#039;t need these monsterous loans to get their 4-year piece of near-worthless paper.....
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		<content:encoded><![CDATA[<p>It doesn&#8217;t seem to be talked about much but I think Education costs are similar to the housing bubble.  Since it got easier to pay for college thanks to phantom home equity/ HELOC&#8217;s and the fact any 18 y/o dolt being able to get a $80k+ student loan, the colleges just went along for the ride.  If less people could afford it, costs should come down&#8230;.should they not??  Stop making it so easy to take on massive amounts of debt and maybe people wouldn&#8217;t need these monsterous loans to get their 4-year piece of near-worthless paper&#8230;..</p>
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		<title>By: odograph</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86478</link>
		<dc:creator>odograph</dc:creator>
		<pubDate>Wed, 07 May 2008 20:00:35 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86478</guid>
		<description>Larry and Ritchie ... you guys in Japan?

http://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy
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		<content:encoded><![CDATA[<p>Larry and Ritchie &#8230; you guys in Japan?</p>
<p><a href="http://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy" rel="nofollow">http://en.wikipedia.org/wiki/List_of_countries_by_life_expectancy</a></p>
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		<title>By: Ritchie</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86477</link>
		<dc:creator>Ritchie</dc:creator>
		<pubDate>Wed, 07 May 2008 19:36:11 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86477</guid>
		<description>Larry: &quot;...since all the other industrialized health care systems in the world cost more than ours...&quot;

To improve snarkiness always add:

&quot;...and their citizens have a shorter average lifespan.&quot;



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		<content:encoded><![CDATA[<p>Larry: &#8220;&#8230;since all the other industrialized health care systems in the world cost more than ours&#8230;&#8221;</p>
<p>To improve snarkiness always add:</p>
<p>&#8220;&#8230;and their citizens have a shorter average lifespan.&#8221;</p>
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		<title>By: Darkness</title>
		<link>http://www.ritholtz.com/blog/2008/05/inflation-what-inflation-nyt-edition/comment-page-1/#comment-86476</link>
		<dc:creator>Darkness</dc:creator>
		<pubDate>Wed, 07 May 2008 18:34:55 +0000</pubDate>
		<guid isPermaLink="false">http://thebigpicture.dev.wilder.ca/blog/2008/05/07/inflation-what-inflation-nyt-edition/#comment-86476</guid>
		<description>Like, what kind of substitution adjustment are they using on the communications plot line?? We spent $1600 last year on communications, a steady increase, YoY, for the last twenty. Sure you get more &quot;bandwidth&quot; for your money, but you have to, or you are not &quot;in touch&quot; anymore, and hence, not communicating.
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		<content:encoded><![CDATA[<p>Like, what kind of substitution adjustment are they using on the communications plot line?? We spent $1600 last year on communications, a steady increase, YoY, for the last twenty. Sure you get more &#8220;bandwidth&#8221; for your money, but you have to, or you are not &#8220;in touch&#8221; anymore, and hence, not communicating.</p>
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