No wonder health care costs are high

Opened all my junk mail this morning. It burns better if you open it before pitching in the fireplace. One piece was pushing hearing aids. It was in-the-ear and had some decent features like background noise cancellation, and feedback squeal reduction. They wanted $1095 for it. They bragged that this was a bargain, comparable units from the competition were going for $2400, they said.
I used to design stuff like this for my day job. I know I could achieve this performance with $100 worth of parts. Using the industry rule of thumb of "four times parts" I could assemble and test and ship something like this for $400 and make money.
I think patients are getting over charged by better than 100% here.
Maybe I should come out of retirement and get into the business.

Thirty percent of BP personnel take the Fifth

Today's Wall St Journal lists ten BP and Transocean executives and workers involved in the Gulf well blowout. At hearings into the disaster, three of them have refused to testify, claiming fifth amendment protections against self incrimination.
It is generally agreed that the well blowout was caused by BP executives Donald Vidrene and Robert Kaluza who decided to ignore instrument indications of a gas leak in the well. Vidrine and Kaluza are two of the three BP men who took the fifth.
Equally as interesting, the Journal cites an internal BP investigation report as their source. Could it be that disgruntled BP employees leaked the report to the Journal?
Also interesting, all the men seemed to have lawyers.

Slushbox

It's been common knowledge for years that automatic transmissions cost you about 5% on gas mileage compared to a stick shift. T'other day I was reading an internet rant that claimed the "modern" slushbox was in fact just as efficient as manual shift. I beg to differ.
Car transmissions have a simple problem to deal with. When stopped at a light, the wheels must not turn and the engine must turn. Automatic transmissions use a fluid coupling between engine and gears to solve this problem. The engine turns a paddle wheel gizmo in a can of hydraulic fluid and a similar gizmo on the gear shaft gets swirled around and around by the fluid. When stopped at a light, the brakes hold the car stopped, and the fluid just gets churned up. Trouble is, when the car is moving, the fluid coupling or "torque converter" is still there, and there is some slip between the engine in the gears. About 5%, which accounts for the 5% loss of gas mileage.
Some advanced automatic transmissions a have an additional lockup clutch which grabs the two paddlewheel gizmos together when the car is moving and prevents any slippage. Transmissions with a lockup clutch are pretty good, but not all cars have them. For instance Cadillac has a lockup clutch and enjoys significantly better gas mileage than the big Ford/Mercury/Lincoln sedans which don't.
So, when asked what you have done for the environment lately, you can respond by asking them if they drive a stick shift. And when buying a new car, you can mystify the salesman by asking if the car has a transmission lockup clutch. The device will save you 5% on gas mileage over the life of the car, so it's worth a few bucks extra to get one.
Other benefits of the stick shift. It serves as an effective anti theft device. Most kids cannot drive stick any more, so your car is less likely to be stolen if it has a manual trannie. When climbing a snow slick hill in winter you don't have to worry about the trannie deciding to downshift at the wrong time and making the wheels loose traction.

Copyright

Or, why downloading should be legal. Copyright is so important that the US Constitution has a special clause about it.
"To promote the Progress of Science and the useful Arts by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;"

Subsequent acts of Congress and judicial decisions have broadened this clause significantly. Copyright now is applied to music, even though music is neither a science nor a useful art. Art it is, but it isn't a useful art. Beautiful, pleasant, desirable, but not useful in the 18th century meaning of the word.

An act of Congress could end the current hassling of young folk by the record labels, by simply saying that recorded music is in the public domain at all times. The record companies would scream and cry and threaten to hold their breath, but they have been loosing sales for years. The musicians would support themselves off concert tickets, which is what they do now anyway, royalties from the record labels being few and far between. Enormous numbers of young folk would be overjoyed. A really clever Republican party would take up this issue. Young people vote in much greater numbers than the record labels do.

Blago vs the prosecutors

Looks like Blago wins. The prosecutor ought be fired. If you bring a high profile case, it better be a sound one. First mistake was to charge Blago with 24 different offenses. Nobody has the time to commit that many crimes. Blago, unlikable as he is, may have done a couple of things, like offer Obama's old senate seat to the highest bidder, but he didn't have the time, or the smarts, to commit 24 separate offenses. Then, the one charge the jury convicted on, isn't really a crime in my book. Lying to police may be an undesirable character trait, but he wasn't under oath, and any fool knows that anything you say to the cops will be used against you in court. So, nobody in their right mind is going to tell the cops "I did it". Plus, in this case, the jury doesn't think Blago did it, so Blago wasn't lying when it told the cops he didn't do it.
Wanta bet the government tries again? Despite the constitutional prohibition of double jeopardy. " Nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb,"

Barney Frank wants to replace Fannie and Freddie

This off the Fox News crawl. I'm agin it. Frannie Mae and Freddie Mac are largely responsible for causing Great Depression 2.0. They should be disbanded, and their management prosecuted.
Barney claims the new organization would subsidize the housing market. I say we should stop subsidies to housing. Housing doesn't need subsidy, other wise known as giving taxpayer money to builders, realtors, home owners, and banks.
Home mortgages are attractive investments just as they are. The loan is secured by real property which the lender can seize if the borrow doesn't make his payments. The collateral is fixed and immobile, the lender cannot drive it out of state. The borrower is highly motivated to keep up the payments, if only to avoid harsh criticism by his spouse when the the couple is evicted.
If the lender makes a realistic appraisal of the property value, and insists that the borrower put up 10 or 20 percent of the value in cash, and the borrower isn't spending more than 25% of his income on payments, the loan is highly likely to get repaid. They used to say "safe as houses" to describe a secure investment. Banks can do very well loaning on mortgages at 6 percent and paying depositors 3 percent, keeping the spread between loan rates and depositors interest rates.
Home mortgages used to work that way. First house I ever bought, back in the '70s the bank loan officer interviewed me and the wife, and then went to the property and appraised it himself. No mortgage broker and the bank loaned its own money, not Fannie's, and held the note til we sold the house.

Environmental Impact Statements on new wells

In an effort to slow down oil drilling, the Obama administration will require a full environmental impact statement to be filed for each new well drilled. Work cannot start until the paperwork is finished. Of course we all know what the environmental impact of an oil well blowout is, it's horrendous. Ixtoc I, and BP have made that abundantly clear. We don't need paperwork to inform us of that. But if we make the paperwork burden heavy enough maybe those pesky oil companies will stop drilling. We can all freeze to death in the dark rather than risk an oil spill.