Best of the Week
Robert Prechter's - The DEFLATION Survival Guide - FREE 60 page Ebook
Most Popular of the Week
1.The Government Will Default on Its Debts- Gary_North
2.How and Why China Will Flood the Gold Market - Jeff Clark
3.Telegraph UK House Price 55% Crash Forecast Revisited- Nadeem_Walayat
4.Nouriel Roubini's 2009 Stock Market Calls Track Record- Nadeem_Walayat
5.Is Debt-Deflation Economic Depression Just Beginning?- Mike_Shedlock
6.Stocks, Dollar and Gold Bull Markets Inter-market Analysis- Nadeem_Walayat
7.United States Catching the Argentinian Economic Disease of Hyperinflation?- John_Mauldin
Weeks Analysis
What the #@!!*&# am I Doing Out Here in Indonesia?- 7th Nov 09
Risk Trade Collapse Could Trigger Global Economic Depression- 7th Nov 09
Fed Signals “All Systems Go” for More Inflation- 7th Nov 09
Stock Market Top Likely Reached- 7th Nov 09
Financial Transaction Taxes Would Cause Stock Market Crash- 7th Nov 09
It's Time to Rally for Financial Reform - 7th Nov 09
Global Leveraged Speculation Upsurge, Financial Crisis Not Over - 7th Nov 09
Fed Attempts to Export Inflation Will Fail- 7th Nov 09
U.S. Budget Deficit Debt Crisis, Austrian, East European or Glide Option Solution?- 7th Nov 09
U.S. Economy, Investors Say No Worries Mate- 7th Nov 09
What Happened to the Stock Market Crash?- 7th Nov 09
U.S. Dollar Tops, while Precious Metal Stocks Bottom- 6th Nov 09
Financial Markets Profit Opportunity Thresholds Today- 6th Nov 09
Stock Market Investors Open Mind Warning on Highest U.S. Unemployment In 26 Years- 6th Nov 09
Financial Paper Assets Bubble Mania, What Record High Dollar Volume Says- 6th Nov 09
SPX Stock Market and HUI Gold Stocks Pullbacks- 6th Nov 09
Freaking Out over Global Warming- 6th Nov 09
The Path To Runaway U.S. Inflation- 6th Nov 09
Flashback: Bernanke on Unemployment: ‘we don’t think it will get to 10 percent’- 6th Nov 09
Jim Rogers Vs Nouriel Roubini, Can The Commodities Boom Survive? - 6th Nov 09
The Technical Alignment of Gold- 6th Nov 09
Crude Oil Classic Bullish Continuation Pattern- 6th Nov 09
Research In Motion (RIMM) Stock Buyback Chart Analysis- 6th Nov 09
Has Asia Dethroned Detroit as the Auto Sector Leader?- 6th Nov 09
India Buying 200 Tons of Gold, What does it Mean? - 6th Nov 09
The Ultimate Conditions For Economic Recovery- 6th Nov 09
S&P Stock Market Rally To Fail, Lower Lows Ahead- 6th Nov 09
Gold Market Reaching The Breaking Point- 5th Nov 09
Ryan Davies Finds Hot Technology Produces Solar Power for Half the Price- 5th Nov 09
Robert Prechter Current Stock Market Bear and Crash Calls- 5th Nov 09
The Great U.S. Housing Market Foreclosure Robbery Of The 21st Century- 5th Nov 09
Trading and Investing Books to Keep You Sane in an Insane Market- 5th Nov 09
Rethinking the Growing China Stock Market Bubble- 5th Nov 09
Any Way You Slice It, We’re at a Stock Market Top- 5th Nov 09
Five Tips for Trading ETFs- 5th Nov 09
Gold's Last Hurrah? - 5th Nov 09
Who Cares About the U.S. Dollar? - 5th Nov 09
Gold Price Collapse and Market Behaviourism- 5th Nov 09
Is Warren Buffett Implying the Stock Market Will Crash?- 5th Nov 09
When the U.S. Dollar Rallies, the Stock Market Will Crash - 4th Nov 09
The Significance of the IMF India RBI Gold Sales - 4th Nov 09
S&P 500 Stock Market Trends Analysis for November 2009- 4th Nov 09
London Bullion Market Association 2009, The Last Word on Gold- 4th Nov 09
Current Gold Silver Ratio Screams Buy All Things Silver!- 4th Nov 09
China Up / U.S. Down Investment Risk Theme Checkup- 4th Nov 09
Why Gold Has a LONG Way to Go Higher- 4th Nov 09
Can Capitalism Survive? Creative Destruction and the Global Economy - 4th Nov 09
The Best Simple Gold Indicator Around - 4th Nov 09
Gold Price is No Bubble- 4th Nov 09
Dethroning of the U.S. Dollar Will Happen Sooner Than You Think- 4th Nov 09
Stock Market S&P 500 Chart Tells the Truth- 4th Nov 09
Robert Prechter Latest Financial Market Analysis and Forecasts- 4th Nov 09
Central Banksterism- 4th Nov 09
Fed Preventing Financial Institutions From Deleveraging by Propping Up Asset Prices- 4th Nov 09
Peak Silver and Mining by a Falling EROI- 4th Nov 09 - Steve_St_Angelo
Are Biotechnology Stocks Heading for A Downturn?- 4th Nov 09 - Oxbury_Research
Scary Specter of '30s-Style Economic Depression- 4th Nov 09 -Jay Taylor
Telegraph UK House Price 55% Crash Forecast Revisited- 4th Nov 09 - Nadeem_Walayat
Nouriel Roubini's 2009 Stock Market Calls Track Record- 3rd Nov 09
U.S. Dollar at Crossroad, Gold Rally About to End?- 3rd Nov 09
Securitization Bankrupted America, So Who Owns It Now?- 3rd Nov 09
Jeremy Grantham, Stock Markets Being Silly Again- 3rd Nov 09
Make 20 Times Your Money Investing in this Hated Industry- 3rd Nov 09
What is Money and How Does One Measure It?- 3rd Nov 09
Investing in Preferred Shares Dividend Stocks- 3rd Nov 09
Silver set to Soar as it did in the 1970’s- 3rd Nov 09
Has the Stock Market Broken Major Support?- 3rd Nov 09
How to Ride the Commodities Bull Market- 3rd Nov 09
Gold NOT in Bull Market, Nadler Nonsense?- 3rd Nov 09
Life and Debt Video - 3rd Nov 09
State Budgets, How Bad Will it Get?- 3rd Nov 09
States Should Cut Wall Street Out! Own Your Own Bank - 3rd Nov 09
U.S. Third Quarter GDP Too Good to Be True? - 2nd Nov 09
Agri-Food Commodities Continue to Defy Forecasts by Trending Higher- 2nd Nov 09
Are Bank Safe Deposit Boxes Safe? No- 2nd Nov 09
Obama and the U.S. Strategy of Buying Time- 2nd Nov 09
Long Term Equity Valuation, Replacing the P/E Ratio for DR3- 2nd Nov 09
The Political Economy Postponing Providence- 2nd Nov 09
The Ayn Rand Cult- 2nd Nov 09
The Government Will Default on Its Debts- 2nd Nov 09
Economic Recovery, The Great Hoax of 2009-2010- 2nd Nov 09
Is the U.S. Dollar About To Crush Stocks?- 2nd Nov 09
Gold Survived the Test- 2nd Nov 09
Global Economy is Firing on All Cylinders- 2nd Nov 09
Is Debt-Deflation Economic Depression Just Beginning?- 2nd Nov 09
Gold, Silver and Stocks Analysis, Forecast- 2nd Nov 09
Gold Confiscation Risk- 2nd Nov 09
Stocks, Dollar and Gold Bull Markets Inter-market Analysis- 2nd Nov 09
Stocks Bull Market Forecast Update Into Year End - 2nd Nov 09
Geithner Signals Gold Going Much Higher, What to Buy Now- 1st Nov 09
Gold Bull Market Forecast 2009, 2010 Update- 1st Nov 09
U.S. Dollar Bull Market Scenario Update- 1st Nov 09
The Nanny State and the Cost of Unfunded Government Liabilities- 1st Nov 09
Economic Crisis in the Post-industrial Age- 1st Nov 09
Stock Market Down Draft Warning- 1st Nov 09
Stock Markets Sharply Lower on Sustainability Worries of Global Economic Recovery- 1st Nov 09
Halloween and it's Candy Economy- 31st Oct 09
U.S. Dollar Fiat Reserve Currency Root of the Global Financial Crisis- 31st Oct 09
Healthcare Company Profits Sensitivity to Obamacare- 31st Oct 09
UK House Prices Post Annual Gain for First Time in 18 Months- 31st Oct 09
How and Why China Will Flood the Gold Market - 31st Oct 09
Chinese Yuan the Most Undervalued Currency in the World- 31st Oct 09
Financial Markets React Negatively to Reducing Emergency Economic Stimulus- 31st Oct 09
The US Recession Is Not Over, But The Stock Market Party Is- 31st Oct 09
Is the Debt Fuelled Economic Recovery Sustainable?- 31st Oct 09
United States Catching the Argentinian Economic Disease of Hyperinflation?- 31st Oct 09

News Feeds
RSS Feeds

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Most Popular 2009
1.UK Housing Market Crash and Depression Forecast 2007 to 2012 - Nadeem_Walayat (67,933)
2.Gold Price Forecast 2009 - Nadeem_Walayat (60,634)
3.Depression 2009 The Largest Train Wreck in Economic History - Darryl_R_Schoon (56,968)
4.Nouriel Roubini 2009 U.S. GDP Forecasting 40% Home Mortgage Failures? - Andrew_Butter (47,613)
5.Baby Boomers- Your Generation's Crisis Has Arrived - James Quinn (36.400)
6.The Financial War Against Iceland, Being Defeated by Debt is as Deadly as Outright Military Warfare - Prof Michael Hudson (35,542)
7.Ten Major Threats Facing the U.S. Dollar in 2009 - Eric_deCarbonnel (35,401)
8.Emerging Giants Russia, China, Brazil and India Looming Collapse 2009 - Martin Weiss (34,247)
9.Dow Jones Stock Market Forecast 2009 - Nadeem_Walayat (33678 )
10.Stealth Bull Market Follows Stocks Bear Market Bottom at Dow 6,470 - Nadeem_Walayat (33,082)
11. Economic & Financial Markets Forecast 2009: Collapsing Global Financial System Ponzi Scheme -Ty_Andros (32,413)
12.Hyperinflation Begining in China and Will Destroy the U.S. Dollar - Eric_deCarbonnel (31,215)
13. Stock Market Crash 2009: Fine Tuning DJIA Target To 5,800 - Eric_Chevrette (30,784)
14. .Stock Market to Fall AT LEAST Another 40%! - Martin Weiss (30,336)
15. Economic Forecast 2009: Deflation, Deleveraging, and Recession - John_Mauldin (28,922)
16.How Hedge Funds, Pyromaniacs and Gangsters Caused the Global Financial Crisis - Martin Hutchinson (28,636)
Most Popular 2008
1. The Great Depression 2008 - It can't happen to us....can it?”
2. The Battle for America Has Begun- Strategic Forecasts
3. UK House Prices Plunge Over the Cliff
4. US Banking System Teetering on the Brink of Collapse
5. US Economy Forecast 2008 - First Recession then Recovery
6. How Safe is My FDIC-Insured Bank Account?
7. Rising Risk of a Systemic Financial Meltdown:The 12 Steps to Financial Disaster By Nouriel Roubini
Most Popular 2007
1. US Housing Market Crash to result in the Second Great Depression
2. Operation FALCON - The USA is turning into a Police State
3. UK Housing Market Crash of 2007 - 2008 and Steps to Protect Your Wealth
4. US Housing Bubble Meltdown: "Is it too late to get out"?
5. Global Liquidity Crisis when the Credit Boom comes to an End
Most Popular 2006
1. Last Warning! Three-Pronged Collapse ... Stocks, Bonds and Real Estate
2. UK Interest Rate forecast for 2007 - Bank of England to do battle with inflation
3. UK Interest Rates Forecast to rise much higher due to rising Inflation and high Money Supply Growth
4. Emerging Markets outlook for 2007 - India, China, Russia, Eastern Europe and Brazil

Links

Money Forums
Certz
TradingTheCharts
Housing Market Forecasts
Local Issues


Free Access to Robert Prechters Current Forecasts

The NHS is killing Britain as it wastes tens of billions every year !

Politics / NHS Dec 24, 2006 - 08:05 PM

By: Nadeem_Walayat

Politics

The UK Labour government came to office in 1997, focused on reinvigorating the National Health Service (NHS), this they did with vigor where the annual NHS budget has grown from £34 billions in 1997 to the present days £96 billion ! A more than 282% increase !!!!

Given the surge in spending, you would expect everything to be happy in the NHS, with ample funds to go around, if so ? You would be badly mistaken. NHS trusts up and down the country are reporting budget over-runs and cut backs in beds available to patents as well as on staffing with demands for billions more money to be spent.


The NHS is killing Britain !

So what's gone wrong with the NHS ?
In simple terms, the Labour government threw money at the NHS, literally hundreds of billions of extra spending has been thrown at the NHS, and much of it has gone straight into wages to feed the NHS gravy train. The NHS employs well over 1,100,000 workers, right from nurses to GP's to specialists have all enjoyed pay rises in excess of 100% ! On top of this, extra bureaucracy & quangos have been created to manage output targets that were supposed to measure the success of the hundreds of billions of extra spending. As years have gone by the output targets have been curtailed to meet those that are 'easiest' to achieve, you could say for political purposes.

The net result of a 285% increase in spending is a meager 30% increase in output in actual health care gain to patients. The rest of the money to all intents and purposes has been wasted. And more importantly continues to be wasted , this in no small part has resulted the current government budget deficit of £40 billions a year. The sensible thing to do would be to realise that the NHS is out of control and to rationalise / privatise it into a more affordable institution that allows the country to balance its budget.

But this is not going to happen, why ? Because of the 1.1 million people on the NHS gravy train, which are predominantly labour supporters. Even Cameron's Conservative party in an attempt to convince this large pool of voters that they will continue the Labour parties programme of out of control NHS spending is declaring that that will not cut NHS spending.

Take General Practitioners (GP's)
The average salary today is £106,000, up from £40, 000 in 1997, an increase of exactly 265% ! and indicative of why the NHS has going wrong !. Nearly triple the wages for LESS work, as GP's cut back on actual working hours with more work offloaded to nurses and referrals to hospitals for diagnoses. There is NO justification for such a huge pay rise for less productivity. None at all !.

Whilst GP's perform less work for nearly triple pay, this has led to an amalgamation of practices into multi-GP practices, patients increasingly complain of poorer care and indifference from part-time GP's as patients are shuffled from one GP to another, its only after several visits spanning several months that a patient can expect their symptoms to be taken seriously. Even then they have to go through the referral bureaucracy and delays, as increasingly cheaper quicker target achieving conditions are first to be referred.

The GP's are increasingly given incentives NOT to refer patients so as to save costs, this has led to sharp drop in the number of consultations over the last year, as it becomes ever harder for patents to make appointments with 'part-time' GP's. Where in the past GP's would have seen patents, now routine inquiries as determined by reception staff are referred to visiting nurses. This leads to further delays in diagnoses as nurses and GP's and reception staff pass the buck between one another with regards why say blood work cannot be taken etc. The cases are numerous of symptoms being ignored by part-time GP's' this includes cases of people with life threatening conditions such as brain tumors being repeated told that all they have is environmental flu, with no attempt at proper diagnoses !

Ninety per cent of GP's have taken advantage of the new GP contract to opt out of the provision of out of hours care, such as in the evening or weekends, leaving primary care trusts to find alternate providers to fill the gaps.

Patients increasingly disillusioned by the poor quality of GP / NHS service are going to the private sector for diagnoses and treatment, which has led to a boom in the private healthcare sector. So patients end up paying twice, once in higher taxes to employ those on the NHS gravy train and then again for proper diagnoses and treatment.

The new contracts for NHS staff also included generous pension arrangements, which is expected to eat up around £13 billion of the total budget by 2007/08 and contributing towards the ever escalating cost of staff pay and the soaring government budget deficit. This whilst the private sector workers are expected to increase contributions towards their pension provision.

So when you next hear news reports of NHS trusts being strapped for cash, demanding ever more funding, remember that throwing more money at the NHS is akin to throwing money into a bottomless pit, where barely 30p is spent on patient care from every extra £1 spent ! Only the other day, it was announced a further £6 billions a year is to be spent on the NHS bottomless pit, with the gravy train passengers crying for even more ! Inline with previous performance it is expected that less than 1/3rd of this extra £6 billion will be plowed into patient care !

The time has come to seriously consider privatizing the NHS, to give the power back to the patient to go to which ever GP / hospital they choose to for diagnoses and treatment. Only then will patients receive the care and consideration they deserve. Until then the NHS will continue to literally KILL Britain as it wastes tens of billions every year !

By Nadeem Walayat

Attention editors and publishers ! This article can be republished. Republished articles MUST include attribution to the author and the following short paragraph:

The Market Oracle is a FREE Financial Markets Forecasting & Analysis online publication. We aim to cut through the noise cluttering traditional sources of market analysis and get to the key points of where the markets are at and where they are expected to move to next !To view articles, visit http://www.marketoracle.co.uk


Comments

Leanne Daly
25 Nov 07, 13:47
NHS

My comment is in reference to privatization, is it possible to privatise the NHS? or is privatisation merely down to healthcare-the actual hospitals/clinics themselves?



Post Comment (Moderated)




(Note Commenting Issue: If after Submitting you are returned to the Main Index Page then due to site caching your comment has not been accepted. Solution - Click the Browser Back Button to the article page and Press PAGE REFRESH (you should see the message "You are not authorized to carry out this operation") Now re-enter your comment (ignoring the notice) - If all's well then you will remain on the article page after submitting, a moderator will check and authorise the comment. Alternatively EMAIL to comments @ marketoracle.co.uk , quoting the article number.

FREE Deflation Survival GuideFREE Updated 118 Page Independant Investor E-book