Comments by "LRRPFco52" (@LRRPFco52) on "PowerfulJRE" channel.

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  5. Medical bankruptcy is one of the most inflated claims in the US to generate hype for political purposes, while not having a very significant influence on bankruptcy filings. Bankruptcy filings are a result of multiple factors, and medical bills are nowhere near the top factor according to all the data I have studied. For starters, Elizabeth Warren’s cherry-picked study went to 2005, where there were only 1.45 million bankruptcies filed in the whole US including Chapter 7, 9, 11, 13, and 15. Only Ch 13 is for wage-earners, while Ch 15 represented the largest % of filings. The study expanded the parameters to include if people had missed 2 weeks of work due to sickness, had medical bills over $1000, and mortgaged their home to pay for bills. If bankruptcy filers fell into those categories, it was listed as "bankruptcy due to medical expenses", even if that wasn’t true. That’s less than half a percent of the overall population who even filed for bankruptcy. By adding those parameters, they fudged the data to indicate that 61% of the filers filed because of medical expenses. Another study in 2011 found that only 26% of Ch 13 filers said medical expenses played a role. Some studies said 57.1% while others said more people filed bankruptcy for medical expenses than overall bankruptcy filings, which is egregiously flawed. Not only can’t all Ch 13 filers be due to medical expenses, but Ch 13 can’t exceed all of the types of Chapter filings due to the dominance of corporate and foreign businesses filing bankruptcy each year. Ch 13 is only 27-38% of bankruptcy filings each year. Another thing is that personal bankruptcies are not a constant Y2Y. Personal bankruptcies peaked in 2010 at over 434,000 after the financial crisis, then dropped dramatically down to around 299,000 in 2016, 289,000 in 2019, and 194,000 in 2020. Chapter 13 Bankruptcies in US Year to Year 2008: 353k 2009: 398k 2010: 434.8k 2011: 417k 2012: 375k 2013: 343k 2014: 313k 2015: 302k 2016: 299k 2017: 296k 2018: 288k 2019: 289k 2020: 194k 2021: 117.7k 2022: 149k (.05% of the US population) Anytime someone presents a claim, automatically question whether that claim is even accurate, then do the research and understand the basic math. In the case of medical bankruptcy, it’s an extremely inflated piece of hype used by proponents of massive change to the overall US system, with no numbers to support it. It’s sensationalist hype really.
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  10.  @sulla1537  It's also a generational thing. With each successive dumbing-down of classes, I guess many are ok with lowering their expectations from professional degrees when it comes to being able to form coherent and logical thoughts, then communicate them in proper English. The fundamental problem with her thinking is that there are 2 groups on this current campaign to inject everyone with experimental mRNA gene therapies. The flaw with that is that there can't be other options or classes of people, for example: 1. People who trusted the recommendations of their doctors, and are now suffering permanent neurological and blood clotting disorders 2. People who were coerced into getting injected, and now have experienced adverse effects or are learning more about the safety problems with starting a mass countermeasures campaign before the 2nd seasonal wave was even midway 3. People who absolutely accept that the bioweapon is real and dangerous, but also don't trust anything they're hearing from corporate media, and remain skeptical and cautious out of survival instinct and intellect (the largest group of skeptics are people with PhDs) 4. People who got injected, suffer adverse effects, but still "trust the system" 5. People who instinctively don't trust media and the pharma sponsors by default 6. People who have no clue about anatomy, physiology, or virology, and trust media and pharma without reservation because of 13 years of normative behavioral programming and conditioning
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  34. Medical bankruptcy is one of the most inflated claims in the US to generate hype for political purposes, while not having a very significant influence on bankruptcy filings. Bankruptcy filings are a result of multiple factors, and medical bills are nowhere near the top factor according to all the data I have studied. For starters, Elizabeth Warren’s cherry-picked study went to 2005, where there were only 1.45 million bankruptcies filed in the whole US including Chapter 7, 9, 11, 13, and 15. Only Ch 13 is for wage-earners, while Ch 15 represented the largest % of filings. The study expanded the parameters to include if people had missed 2 weeks of work due to sickness, had medical bills over $1000, and mortgaged their home to pay for bills. If bankruptcy filers fell into those categories, it was listed as "bankruptcy due to medical expenses", even if that wasn’t true. That’s less than half a percent of the overall population who even filed for bankruptcy. By adding those parameters, they fudged the data to indicate that 61% of the filers filed because of medical expenses. Another study in 2011 found that only 26% of Ch 13 filers said medical expenses played a role. Some studies said 57.1% while others said more people filed bankruptcy for medical expenses than overall bankruptcy filings, which is egregiously flawed. Not only can’t all Ch 13 filers be due to medical expenses, but Ch 13 can’t exceed all of the types of Chapter filings due to the dominance of corporate and foreign businesses filing bankruptcy each year. Ch 13 is only 27-38% of bankruptcy filings each year. Another thing is that personal bankruptcies are not a constant Y2Y. Personal bankruptcies peaked in 2010 at over 434,000 after the financial crisis, then dropped dramatically down to around 299,000 in 2016, 289,000 in 2019, and 194,000 in 2020. Chapter 13 Bankruptcies in US Year to Year 2008: 353k 2009: 398k 2010: 434.8k 2011: 417k 2012: 375k 2013: 343k 2014: 313k 2015: 302k 2016: 299k 2017: 296k 2018: 288k 2019: 289k 2020: 194k 2021: 117.7k 2022: 149k (.05% of the US population) Anytime someone presents a claim, automatically question whether that claim is even accurate, then do the research and understand the basic math. In the case of medical bankruptcy, it’s an extremely inflated piece of hype used by proponents of massive change to the overall US system, with no numbers to support it. It’s sensationalist hype really.
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  44.  Nick Yankee  These are the types of studies I’m talking about that count on people not looking up the numbers. It’s not possible for 530,000 families to turn to bankruptcy when only 229,703 Chapter 7 filings and 149,077 Chapter 13 bankruptcies were filed in 2022. Somebody is lying, and it isn’t the US Bankruptcy Courts statistics. The worst year since 2008 was 2010, with 1.146 million Ch 7 and 434,839 Ch 13 filings. That was because of the sub-prime housing Markey with variable rate mortgages, not medical bills. Ch 7 & 13 filings dropped dramatically since then and most Ch 13 filings are due to mortgage default, auto loans, credit card debt, and a series of financial factors that contribute overall to households seeking Ch 13 protection. Those studies (that say anything over 26% of Ch 7 & 13 filings are due to medical bills) manipulated the data to include if the earners were off work for 2 weeks or more, were injured during the year in question, and things not related specifically to their filing. Even we add up all Chapter 7 liquidation bankruptcies and Chapter 13 wager earner bankruptcies, we don’t reach this 530,000 number since 2020 unless over 88% of bankruptcies were due to medical bills in 2020, and 124% of filings in 2021 (not possible): 2020 Ch 7 + Ch 13 = 603,548 2021 Ch 7 + Ch 13 = 428,381 2022 Ch 7 + Ch 13 = 378,780 filings In reality, there were more likely 98,780 Ch 7 + Ch 13 filings combined where medical bills were the major factor, on top of bad debt/income ratios, especially with credit card bills and crazy auto loans. Medical providers generally work with people on a payment plan, which should not even be a thing because we have Medicare, Medicaid, Social Security, ACA, and private providers. Medical debt bankruptcy is generally more of a story about bad personal finance, not an inherent problem with the healthcare system, although I do agree that providers, Pharma, and insurance companies hike up prices when nobody sees how much things actually cost.
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