December 11, 2024 • 14 mins
Should We Eliminate Health Insurance?? www.watchdogonwallstreet.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Eliminate health insurance. That's right, get rid of it all.
And I'm not just kidding. I'm talking private I'm talking Medicare, Medicaid,
the whole thing. Think the end of Fight Club. Okay,
when Tyler Durden blows up all of the credit companies
(00:39):
in the banks and all of their information there, make
it all go away. I know, Oh, you're crazy. People
are not going to get healthcare. They're not going to
get this. It's gonna be anarchy. It's going to be terrible. No,
it's not. I did untless radio programs, television as well.
(01:06):
This is the early stages of the Obama years when
they were putting together Obamacare, and even prior to this,
just trying to explain to Americans what insurance actually is. Actually,
you know, a really good explanation for insurance was done.
(01:28):
Chris Rock, the stand up comedian, did it in one
of his stand up routines. He's described insurance is something
you buy in case bad shit happens. You don't want,
you don't ever want to use your insurance. I most
certainly don't want to have to use my life insurance
policy because I be dead. I don't want. I don't
(01:52):
want to have to use my health insurance. I means
I'm sick. I don't want to use my car insurance
means I got to a car act sit in. He
was my home insurance. I mean something happened to my
home insurance is something you buy that you hope you
never have to use. We are watching today, We're watching
(02:17):
these they're they're honestly, they're pieces of societal cancer, These leftists,
these what's Taylor Lawns going out there? She was joyful
that the CEO got gunned down in the street. Go
(02:37):
online you can see what they have to say. You're
a professor University of Pennsylvania, ore Ivy League institutions. Uh,
you know, basically applauding the murder, cold blooded murder of
a human being. Family got a wife and two kids
in the streets in New York. Well, this professor continue
(03:00):
to teach at the University of Pennsylvania. Probably it's an
Ivy League school, you know, and they love societal cancer
at these institutions. Anyway, I'm going to try not to
go off on a rant here. Insurance, get rid of insurance?
What would happen? Think about this. I want you to
(03:23):
contemplate for what would happen. Well, first and foremost, the
healthcare industry would have to find a way, find a
way to compete against one another and price their product,
price their product at a rate that people could afford
(03:47):
to pay. If not, Again, what would happen? I was
looking at various different statistics. It's just at the administrative
costs for healthcare in the United States, and it's it's disgusting. Middleman,
I mean, nobody, there's nothing to do with healthcare. It's
(04:10):
the business of healthcare. Let's get back to insurance a
little bit. Here's something that we got rid of under Obamacare.
Insurance doesn't work. It's not insurance unless you can price
risk into the equation. I did a podcast not too
(04:33):
long ago in the wake of the hurricanes here and
making fun of government subsidized flood insurance, and I called
it welfare, welfare for wealthy people, because that's what it is.
Welfare for welfare for wealthy people. Why in the world
should the government be subsidizing somebody's insurance so they can
have a home on the beach. Bullshit, quite frankly, and again,
(04:59):
we we have a system now where we are not
properly pricing risk into the equation. I'm going to tell
you a story that blew my mind. Blew my mind.
Yesterday I was floored. I was floored by this very
good friend of mine who is highly accomplished doctor. He's
(05:26):
someone and goes in and they actually bring him in
to repair messes and hospitals around the country and make
them better. I'm not going to name drop here on
the program, but let's just say, if you're following certain
things when it comes to healthcare in this country, you
know who this individual is. Said ob g y n
(05:51):
delivered babies for years and we're having the conversation. He
was thinking because he got away from it and he
hurt his back. He was thinking of actually coming back
and doing it again until he went to a conference.
He went on behalf of one of the hospitals that
contracts and he went to an eb centric conference and
he learned something and that this is mind blowing. What
(06:13):
I'm about to tell you eighty percent, eighty percent of
pregnancies here in the United States today, eighty percent are
considered high risk. Eighty percent obesity, diabetes, drug abuse, I
(06:41):
mean all of these things. Who in the what kind
of doctor is going to want to go into this
field knowing that they could be sued, something that could
go wrong, what they're going to have to pay for?
Eighty per cent of pregnancies are now high risk here
(07:04):
in this country. But why do you why do you
think your insurance premiums are so high? Why do you
think I have to pay my health insurance? I've got
to pay right now. I'm planning to have any more
(07:24):
kids here, Okay, uh yeah, I'm getting a little old now. No, no,
I'm on to the next level. Kids are out of
the house. But yet I still have to pay just
in case I happen to get pregnant. It's moronic again.
I remember, you know, prior to Obamacare, my kids, I
(07:49):
paid five grands cold thing hospital, cannakaboot, all the visits,
everything like that. I paid for it. Boom, that was
a bill. That was a bill. I didn't have it
on my insurance. I wasn't covered for that, so I
paid for it outside of it, and again that's just pregnancies.
(08:13):
You take a look around, you know, the stuff that
Robert F. Kennedy is talking about, and you take a
look at the health of America, and you wonder why
things are so expensive. Many of these insurance companies are
trying to make ends meet. It was funny. I got
(08:37):
a kick out of it, and I did it myself.
I said, go go, go do for yourself. They said,
you know, they said, go take a look at a
picture of the crowd. They said, take a look at
picture of the crowd at Yankee Stadium in the nineteen
sixties and the nineteen seventies, and try to find a
fat person. Now, pull on up, pull on up from
(09:00):
this year, and try not to find a fat person.
Whytn't you take a look at a picture of I
don't know, the Jersey Shore in the nineteen eighties and
compare it to today. You got all these pieces of
societal cancer railing against insurance companies and denying care and
(09:25):
all of these things. You know, much better it would be.
How much easier it would be for insurance companies if
they could actually price and risk. Again, I talked about
this prior to Obamacare. How in the world is it
that if I go into a job, I get a
job at a company because I gotta get benefits, and
(09:48):
the person next to me is completely out of shape,
doesn't work out, drinks, smokes, does drugs, and we pay
the same premium. You tell me, how in the world
is that insurance? It's not. You're not pricing risk into
(10:12):
the equation. Well, mister Bokowski, but what about people that
are preingistic condition that they have these things that they're
not responsible for and they're born with it. Okay, you
want to have high you want to have the government
subsidize some high risk pools. Fine, that was my suggestion.
I don't care you want to help out with that,
(10:34):
but keep that out of my pool. This is what
you call it. Insurance is not insurance. It's a big
glob of subsidized crap. Not to mention the fact if
(10:54):
you don't think these hospitals, you don't think these hospitals
our hip to knowing what type of insurance you have
and what they can bang you out for. Oh they know,
Oh they they most certainly know. They. Oh look at
(11:17):
this person's insurance. Man we better keep him in the
hospital for an extra day. Oh yeah, you know, maybe
maybe we had to run all of these other tests
that we might not need to run. I mean, take
a look at COVID. Government was paying for everything and
anything everybody had. COVID was COVID related. Foot chick jing,
(11:39):
chick ching. We'll suck that out of the government. This
is this is healthcare. Oh, this is this is a disaster.
This is what we have today. We need one big
(12:02):
fat do over is what we need. And I'm not stupid.
It's not gonna happen. It's not gonna happen. You know,
people think it's just great. I get my governments and
they don't even do the math. They don't even do
the math, and or what they're paying in premiums or
what they're getting in some sort it's all a bunch
(12:24):
of BS. Again. People kind of thrown off with the
fact I said, I don't care. Honestly, I don't care
at this point in time. Single payer just just let
me out. Just allow for real insurance risk based premiums,
allow for that, allow for that outside of your single
(12:47):
payer BS, and do whatever the hell you want, because
what we have now is not sustainable. And to all
you pieces of societal cancer. I mean to be hard,
but you are where you are. You are where you are.
This idea out there you keep floating that healthcare is
(13:09):
some sort of human right. What that's salth health terms
of human right? Housing a human right, Education is a
human right. Food is a human right. You have no
right to anyone else's labor. You have no right to
(13:34):
tax and enslave other people to provide for the products
and services that you desire. You don't.
Speaker 1 (13:46):
Do.
Speaker 2 (13:47):
I think that there's a place for society as a
whole to help people out. Absolutely Again, I have no
problem with social safety, but look look at what we did.
Look at what we did again, this whole where we're
(14:11):
at with Obamacare and healthcare in this country and the
results and the overall health of this nation, which is disgusting.
It's a big fat sea. I told you so a
moment that again I wish I was wrong. Watch Dog
on Wall Street dot Com
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Eliminate health insurance. That's right, get rid of it all.
And I'm not just kidding. I'm talking private I'm talking Medicare, Medicaid,
the whole thing. Think the end of Fight Club. Okay,
when Tyler Durden blows up all of the credit companies
(00:39):
in the banks and all of their information there, make
it all go away. I know, Oh, you're crazy. People
are not going to get healthcare. They're not going to
get this. It's gonna be anarchy. It's going to be terrible. No,
it's not. I did untless radio programs, television as well.
(01:06):
This is the early stages of the Obama years when
they were putting together Obamacare, and even prior to this,
just trying to explain to Americans what insurance actually is. Actually,
you know, a really good explanation for insurance was done.
(01:28):
Chris Rock, the stand up comedian, did it in one
of his stand up routines. He's described insurance is something
you buy in case bad shit happens. You don't want,
you don't ever want to use your insurance. I most
certainly don't want to have to use my life insurance
policy because I be dead. I don't want. I don't
(01:52):
want to have to use my health insurance. I means
I'm sick. I don't want to use my car insurance
means I got to a car act sit in. He
was my home insurance. I mean something happened to my
home insurance is something you buy that you hope you
never have to use. We are watching today, We're watching
(02:17):
these they're they're honestly, they're pieces of societal cancer, These leftists,
these what's Taylor Lawns going out there? She was joyful
that the CEO got gunned down in the street. Go
(02:37):
online you can see what they have to say. You're
a professor University of Pennsylvania, ore Ivy League institutions. Uh,
you know, basically applauding the murder, cold blooded murder of
a human being. Family got a wife and two kids
in the streets in New York. Well, this professor continue
(03:00):
to teach at the University of Pennsylvania. Probably it's an
Ivy League school, you know, and they love societal cancer
at these institutions. Anyway, I'm going to try not to
go off on a rant here. Insurance, get rid of insurance?
What would happen? Think about this. I want you to
(03:23):
contemplate for what would happen. Well, first and foremost, the
healthcare industry would have to find a way, find a
way to compete against one another and price their product,
price their product at a rate that people could afford
(03:47):
to pay. If not, Again, what would happen? I was
looking at various different statistics. It's just at the administrative
costs for healthcare in the United States, and it's it's disgusting. Middleman,
I mean, nobody, there's nothing to do with healthcare. It's
(04:10):
the business of healthcare. Let's get back to insurance a
little bit. Here's something that we got rid of under Obamacare.
Insurance doesn't work. It's not insurance unless you can price
risk into the equation. I did a podcast not too
(04:33):
long ago in the wake of the hurricanes here and
making fun of government subsidized flood insurance, and I called
it welfare, welfare for wealthy people, because that's what it is.
Welfare for welfare for wealthy people. Why in the world
should the government be subsidizing somebody's insurance so they can
have a home on the beach. Bullshit, quite frankly, and again,
(04:59):
we we have a system now where we are not
properly pricing risk into the equation. I'm going to tell
you a story that blew my mind. Blew my mind.
Yesterday I was floored. I was floored by this very
good friend of mine who is highly accomplished doctor. He's
(05:26):
someone and goes in and they actually bring him in
to repair messes and hospitals around the country and make
them better. I'm not going to name drop here on
the program, but let's just say, if you're following certain
things when it comes to healthcare in this country, you
know who this individual is. Said ob g y n
(05:51):
delivered babies for years and we're having the conversation. He
was thinking because he got away from it and he
hurt his back. He was thinking of actually coming back
and doing it again until he went to a conference.
He went on behalf of one of the hospitals that
contracts and he went to an eb centric conference and
he learned something and that this is mind blowing. What
(06:13):
I'm about to tell you eighty percent, eighty percent of
pregnancies here in the United States today, eighty percent are
considered high risk. Eighty percent obesity, diabetes, drug abuse, I
(06:41):
mean all of these things. Who in the what kind
of doctor is going to want to go into this
field knowing that they could be sued, something that could
go wrong, what they're going to have to pay for?
Eighty per cent of pregnancies are now high risk here
(07:04):
in this country. But why do you why do you
think your insurance premiums are so high? Why do you
think I have to pay my health insurance? I've got
to pay right now. I'm planning to have any more
(07:24):
kids here, Okay, uh yeah, I'm getting a little old now. No, no,
I'm on to the next level. Kids are out of
the house. But yet I still have to pay just
in case I happen to get pregnant. It's moronic again.
I remember, you know, prior to Obamacare, my kids, I
(07:49):
paid five grands cold thing hospital, cannakaboot, all the visits,
everything like that. I paid for it. Boom, that was
a bill. That was a bill. I didn't have it
on my insurance. I wasn't covered for that, so I
paid for it outside of it, and again that's just pregnancies.
(08:13):
You take a look around, you know, the stuff that
Robert F. Kennedy is talking about, and you take a
look at the health of America, and you wonder why
things are so expensive. Many of these insurance companies are
trying to make ends meet. It was funny. I got
(08:37):
a kick out of it, and I did it myself.
I said, go go, go do for yourself. They said,
you know, they said, go take a look at a
picture of the crowd. They said, take a look at
picture of the crowd at Yankee Stadium in the nineteen
sixties and the nineteen seventies, and try to find a
fat person. Now, pull on up, pull on up from
(09:00):
this year, and try not to find a fat person.
Whytn't you take a look at a picture of I
don't know, the Jersey Shore in the nineteen eighties and
compare it to today. You got all these pieces of
societal cancer railing against insurance companies and denying care and
(09:25):
all of these things. You know, much better it would be.
How much easier it would be for insurance companies if
they could actually price and risk. Again, I talked about
this prior to Obamacare. How in the world is it
that if I go into a job, I get a
job at a company because I gotta get benefits, and
(09:48):
the person next to me is completely out of shape,
doesn't work out, drinks, smokes, does drugs, and we pay
the same premium. You tell me, how in the world
is that insurance? It's not. You're not pricing risk into
(10:12):
the equation. Well, mister Bokowski, but what about people that
are preingistic condition that they have these things that they're
not responsible for and they're born with it. Okay, you
want to have high you want to have the government
subsidize some high risk pools. Fine, that was my suggestion.
I don't care you want to help out with that,
(10:34):
but keep that out of my pool. This is what
you call it. Insurance is not insurance. It's a big
glob of subsidized crap. Not to mention the fact if
(10:54):
you don't think these hospitals, you don't think these hospitals
our hip to knowing what type of insurance you have
and what they can bang you out for. Oh they know,
Oh they they most certainly know. They. Oh look at
(11:17):
this person's insurance. Man we better keep him in the
hospital for an extra day. Oh yeah, you know, maybe
maybe we had to run all of these other tests
that we might not need to run. I mean, take
a look at COVID. Government was paying for everything and
anything everybody had. COVID was COVID related. Foot chick jing,
(11:39):
chick ching. We'll suck that out of the government. This
is this is healthcare. Oh, this is this is a disaster.
This is what we have today. We need one big
(12:02):
fat do over is what we need. And I'm not stupid.
It's not gonna happen. It's not gonna happen. You know,
people think it's just great. I get my governments and
they don't even do the math. They don't even do
the math, and or what they're paying in premiums or
what they're getting in some sort it's all a bunch
(12:24):
of BS. Again. People kind of thrown off with the
fact I said, I don't care. Honestly, I don't care
at this point in time. Single payer just just let
me out. Just allow for real insurance risk based premiums,
allow for that, allow for that outside of your single
(12:47):
payer BS, and do whatever the hell you want, because
what we have now is not sustainable. And to all
you pieces of societal cancer. I mean to be hard,
but you are where you are. You are where you are.
This idea out there you keep floating that healthcare is
(13:09):
some sort of human right. What that's salth health terms
of human right? Housing a human right, Education is a
human right. Food is a human right. You have no
right to anyone else's labor. You have no right to
(13:34):
tax and enslave other people to provide for the products
and services that you desire. You don't.
Speaker 1 (13:46):
Do.
Speaker 2 (13:47):
I think that there's a place for society as a
whole to help people out. Absolutely Again, I have no
problem with social safety, but look look at what we did.
Look at what we did again, this whole where we're
(14:11):
at with Obamacare and healthcare in this country and the
results and the overall health of this nation, which is disgusting.
It's a big fat sea. I told you so a
moment that again I wish I was wrong. Watch Dog
on Wall Street dot Com
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