Thursday, May 26, 2011

Police Clash with Doctors and What It Means for U.S. Doctors (and Money Managers)

Police in central Athens have used pepper spray to disperse protesting doctors and state hospital staff, in the latest protest against public spending cuts.

Riot police briefly clashed with scores of doctors and other demonstrators who tried to force their way into the Health Ministry, reports AP.

Who would ever think doctors would be protesting in the streets?

There is a lesson here for U.S. doctors. Since healthcare is a major focus of governments including here in the U.S., it's only a matter of time before more regulations and some type of price controls are imposed on the services of medical doctors in this country.

I am often asked, if it is time to leave the country. My reply has consistently been that there is no blanket advice I can give to everyone. A surfer dude, who is only concerned with how big the next wave is, could conceivably live in a totalitarian state that would be difficult for others to live in. There is likely to be very little regulation of his life, and if he stays on the beach and doesn't go too far inland, he may come across authorities in only rare instances---enough to make such encounters just a minor hassle.

On the other end, medical doctors and money managers need to start thinking about packing their bags now. The regulations for both these professions continue to grow. If I am a medical doctor who plans to be practicing for 5 years plus, I would be thinking about the Caribbean Islands or somewhere in South America as alternative places to practice. For a money manager Hong Kong or Switzerland might be the best place to hang your shingle.

By the time doctors are protesting in the streets here, you need your plan complete and you need to be gone.


  1. This comment has been removed by the author.

  2. is not that other prefessions are much better. then there is the problem of out of control judiciary. is in the news that the italian seismologic ogranization has been indicted for not having predicted the Aquila earthquake. nobody is safe, with this type of "justice"

  3. If China is a measure of "stability" in this world then the reality is there is no "safe harbor" from those who mean to rule you. Instead of running away, perhaps the best advice is to try and prevent the very tyranny you hope to escape. Ultimately those who value freedom must make a stand somewhere, America is as good a place as any. If not, those who desire to consume freedom will not stop until they eradicate the former.

  4. @Anonymous:
    Evidence to the contrary:
    1. Election of Barack Obama (not that the mad bomber was any better)
    2. Idiot Tea Party flipflops
    3. Recent election of welfare queen in upsate New York
    4. etc etc etc etc

    To borrow from the Gipper: "It's evening in Amerika"

  5. Me, I've 'Gone Galt', and am sitting on the sidelines, living off a portion of my capital (90% in gold and silver, growing nicely) for five years or so, until the regulatory wretchedness dies out, or at least becomes predictable.

    Alternatively, we may not see bottom for another 15-20 years, if we are to believe Howe (I do), of 'Fourth Turning' fame, who thinks we ended the third period in 2007.