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Saturday, September 01, 2007
Bill Steigerwald :: Townhall.com Columnist
Uh-oh, Canada
by Bill Steigerwald
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Will the Dems' health care Christmas Present to America be an improvement or detriment to our health care system?


Esmail says no one knows exactly how many Canadians go to the United States each year for medical care. His best estimate for 2006 -- a conservative one -- is 39,282. Whatever the actual number is, however, it is growing.

Clinics in Detroit and Buffalo market speedy MRIs, CTs or ultrasounds to Canadians which, by law, cannot be purchased privately in some provinces, including Ontario.

Ontario residents have three options: wait months for their free public MRI, travel to a province like Quebec where it is legal to buy one privately or travel to the U.S.

It's no wonder private medical and surgical brokers like Timely Medical Alternatives of Vancouver have sprung into existence. Rick Baker said his three-year-old company refers about 100 Canadians a month to U.S. clinics and hospitals for such things as MRIs and knee replacements.

Timely Medical's services came in handy for Lindsay McCreith, a retired auto body shop owner who was told in 2006 he probably had a brain tumor. He needed an MRI fast. But the wait time for a "free" public one was 4 1/2 months and it was illegal to purchase a private MRI in Ontario.

McCreith contacted Timely Medical, which got him an MRI the next day in Buffalo that showed he had a Titleist-sized tumor. Four and half weeks later, McCreith had received the brain surgery that could have taken eight months to happen in Canada -- if he had still been alive. It cost him $28,000 -- for which Canada's government won't reimburse him.

Stories like McCreith's -- and the downsides of Canadian and American health care -- will be exposed Sept. 14 by ABC's John Stossel in his "20/20" special, tentatively titled "Sick in America." Rick Baker hopes Hillary Clinton and her friends will be watching.

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About The Author
Bill Steigerwald, born and raised in Pittsburgh, is a former L.A. Times copy editor and free-lancer who also worked as a docudrama researcher for CBS-TV in Hollywood before becoming a reporter for the Pittsburgh Post-Gazette and a columnist Pittsburgh Tribune-Review. Bill Steigerwald recently retired from daily newspaper journalism..
 
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snake0311 writes, 10, 2007 9:21 AM
DESKJOCKEYR RESPONDS

The first fund was 1923 in Boston started with three investors, the second one in 1924. I thought your 12% was for US funds only not Europe too.

Your friend’s anecdotal assumptions contradict fund performance researchers. Also small caps have not performed at 12%. If you just look at the ones that are still solvent it isn’t 12% let alone accounting for the millions that tanked. Similarly the DJ is not up from 40.94 in 1896 to 13,064 today. Of the first 12 stocks only GE is still in the DJ. When the others go under, dissolve or perform badly they are replaced. Also small caps have a high incidence of going under. If you had put 1 dollar in every small cap stock 80 years ago, you’d have little of your money left.

Major banks now own securities divisions, so I don’t know why they talk down that division. Why listen to your local banker for stock advice when you are supposed to get that from your CPA or dentist. Insurance people often sell their own firm’s mutual funds so I don’t know why they are against them. Can’t trust those insurance guys, selling junk they are against.

I was Accounts VP of PaineWebber (now UBS Finanacial) and we sold stocks, insurance, options, commodities, tax shelters, CDs, tax free bonds, etc. I maintain a handful of brokerage accounts today and bought my first stock over 50 years ago.

Did Penn Central’s growth trend up? What about Pan Am and Eastern Airlines. What about American Home Mortgage filing bankruptcy after being $27 a share just a couple weeks earlier (a month ago), MCI, Enron, and the literally millions of listed companies that have gone bankrupt. If you look at all the money that has been invested and the comparatively few companies that remain today, the market has not been kind. To remove stocks out of the DJ continually to massage the appearance that all stocks have gone up for the past 100 years is deception if used for that representation.

Deskjockey
First off mutual funds in their present form have been around since 1822 when the first one was introduced in Belgium. The first mutual fund in the US was actualy introduced in 1893 I think. A friend who is a broker said he hasn't seen anything that he can specifically point to saying what the overall historical performance of funds is but says that Small Caps have performed at or above 12% average returns for at least the past 80 years. He also said they tend to reflect the performance of funds as a whole but not well enough to use as a yardstick. He did say that bankers were notorious for downplaying the mutual fund and stock investment option because they have a vested interest in selling CD's and savings accounts. The other people to look out for according to him are life insurance salesmen because they want to sell you an investment that isn't an investment. The only exception to that rule were people who sold term insurance only and he said to be leary of them as well. You don't happen to belong to any of those groups do you?
I don't agree that all growth is temporary. Growth isn't consistent in the short term but in the long term is pretty steady and always trends upward.
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