Monthly Archives: January 2012

The Systemic Nature of Medicare Fraud

It’s the kind of Medicare fraud that makes your skin crawl. And it’s part of a vast scheme. After investigative reporters detailed the case, the FBI finally got serious. But no insurance company would have fallen prey to it. Only Medicare cannot defend itself. It doesn’t even know when it’s happening because, inexplicably, it doesn’t analyze the bills. And so an industry has sprung up.

Foreign Particle In A Tarry Liquid

Tokyo, April 1996. 4:45 a.m. Daylight shines through the opaque windows. I slide one open. My new neighborhood: sheds pieced together from rusting corrugated iron, green corrugated plastic, and weathered wood; tiny yards cluttered with junk; and concrete buildings finished with brown tiles. Windows are opaque for a reason. You don’t want to be confronted with this on a daily basis.

“German Success Recipe” or Blip?

During the financial crisis, Germany’s export orders fell off a cliff. GDP plunged 2.1% in the 4th quarter of 2008 and a horrid 3.8% in the 1st quarter of 2009. The worst quarters in the history of the Federal Republic. But the recovery was enormous. So it’s natural that the German media would gloat over the “German success recipe.” But now the first shadows have appeared.

Greece’s Extortion Racket Maxed Out

Just how bad is the real economy in Greece after five years of recession, countless strikes, and 17.7% unemployment? Registrations of vehicles plunged 30% in 2011, after having plunged 37% in 2010. They’re now at the lowest level in over 20 years. Troika inspectors are on their way … to demand yet more cuts. And the Prime Minister puts the nuclear option on the table.

California’s High-Speed Rail To Nowhere

For medium distances, high-speed rail is faster than flying. It’s hassle-free and comfortable. And it benefits the economy. But not the way California is doing it. The hullabaloo about funding the skyrocketing costs of linking LA and the Bay Area ignores a huge economic problem: once again, taxpayers are asked to create jobs overseas. Contenders: Germany, Japan, France, and China.

Construction Spending And The Housing Quagmire

Among the “good” economic news today was private residential construction, up 2%, confirming trends in building permits and housing starts. Construction creates lots of jobs and contributes significantly to GDP. Everyone, from the President down to local politicians, wants it to grow. It gets them reelected. But for homeowners, banks, and tax payers, these trends are costly.

Tell-Tale Signs Of Official Exasperation

Vibrating with irrational post-flight euphoria, I place my feet on size 24 yellow footprints painted on the floor at immigration and wait. Travel lore has it that Tokyo Narita is a congested and problematic airport. But at 8:25 a.m. I see no congestion and no problems—until an immigration officer waves me over. He studies my ticket, doesn’t like it.