Let’s go over what I learned this week
1) This studying thing really works
I was skeptical, but it turns out that how you do on practice tests is a pretty good reflection of how you’ll do on the real thing. But you have to think through what you’re doing – if you’re testing concepts, then you have to constantly evaluate what it means in real terms, and if you’re testing applications, then you have to ponder what concepts you’re learning. What I’m really saying is don’t learn like a monkey – don’t just learn lessons one by one based solely on the specific problems you’ve been given.
2) The health care debate comes down to two questions
Health care reform has gotten ugly for a long time now, but let me frame the issues for you. There are two big questions and Democrats are trying a huge bait and switch with them. The first question is whether everyone “deserves” health care. In real terms, this means whether you want to tax the productive 80% of our society to provide free care to the poorest 20%. A “yes” has to come with the caveat that the poorest 20% tend to be the least productive members of society and the highest risk group for health problems. This is why an ER visit currently costs you $3000 – you’re not just paying for you, you’re paying for the homeless guy who got hit by a car because the hospital can’t turn him away.
The second question is for everyone else, how to rein in the rising costs of health care. There’s almost no doubt that the health care system is unsustainable if costs continue their inexorable upward rise, so we need to reduce the amount that people spend, either by controlling costs, increasing the number of providers, making technology more accessible, etc. Especially as Baby Boomers retire and strain the system with demands for better and cheaper/free care, we’re going to see America saddled with a massive debt problem, and it’s far from obvious that Gen X/Millenials can bail out the system. The answer sure as hell isn’t in a giant collusion of Democrats, pharmaceutical and insurance lobbyists, the American Medical Association, and a handful of lawyers.
Now, the excuse I hate more than anything and a primary reason I think we have all these problems is the argument “let your insurance pay for it”. Just like everything else in economics, you spend your own money much more prudently than the insurance company’s. That’s not necessarily a good thing, because preventive care is a big deal, so the free market argument probably isn’t optimal (because most people vastly underestimate or misunderstand the risks they assume with lifestyle choices). But treating the insurance company like a buffet where everyone tries to eat more than their money’s worth is also leading us over the cliff. I’m not sure what the best solution is, but I hope this illuminates the debate for you.
Goals from the week:
1) passed one exam, failed the other
2) Ran 15 miles! Hooray! Summary:
3) Did the workouts
4) Did not cook eggs
5) 240 finance questions, 80% of goal
6) Did not do other studying
7) Did not learn to juggle 4 balls, can judge 2 or 3 balls for a minute
Did not practice tuck planche, handstand
Verdict: 50% success for an ambitious schedule. Must do better and be more reliable.