Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	10/22/2001 8:14:23 AM
From: KyrosL	Read Replies (1) of 74559

I expect inflation to remain tame and even fall over the next year or so. The one exception may be medical services. But, I believe medical service inflation is way overstated. This area experienced a substantial increase in quality over the last few years, especially because of the introduction of effective new drugs, which cost a lot more than the ones they replace. One obvious measure of the increase in medical care quality is the steady march upwards of US life expectancy. I believe a large part of this increase is due to better medical care. Measuring medical care quality is a very complex problem, and that's why the BLS is not doing it yet. If one takes the simplistic method of valuing a life at a few million $, then the increase in life expectancy we experienced in the last few years more than wipes out the entire increase in medical costs in these years.

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