Dr. Northwall will be discussing his book “Return to Capitalism” on The Michael Blum Show on Tuesday, January 15.
The Michael Blum Show
WWNN 1470 AM
January 15, 2019
Dr. Northwall will be discussing his book “Return to Capitalism” on Business for Breakfast with Ken Morgan and Mark Asher on Tuesday, January 15.
Business for Breakfast
Money Radio 1510 AM
January 15, 2019
Dr. Northwall will be discussing his book “Return to Capitalism” on The Financial Survival Network with Kerry Lutz on Thursday, January 10.
The Financial Survival Network
January 10, 2019
Q : My health care insurance premium has gone through the roof. What can be done about that?
A : Get government out of health care. Then everyone can find their own plan that meets their needs within what they can afford. Now, there will always be the unfortunate few who are unable to care for themselves, and for them, there needs to be Medicaid.
Q : My mother got very sick, she was hospitalized, but then her Medicare ran out, and they tried to kick her out. How can this situation be alleviated?
A : Change the law. If Medicare started to cover your mother, then they should finish up covering her.
Q : What’s wrong with Bernie Sanders’s (and other groups of socialists’ and progressives’) solution to making health care affordable?
A : Number one, we can’t afford it. Costs will explode. Number two, there is no way that one-size-fits-all health care can satisfy everyone. If everyone had to be in charge of finding their own health care, they would be happier than they are now.
Q : What would you do to solve the health care problem?
A : Get the government out of health care. If everyone had to find their own plan, they would get something that met their needs that they could afford. For the unfortunate few unable to take care of themselves, there is Medicaid.
Q : To my comment that government can’t innovate and come up with new things, one suggested that the military has created new things and can be innovative. What do you say about that?
A : The military is terribly expensive, and they need to tighten their belt. That said, protecting the people and the country is absolutely necessary, but innovation by the Pentagon is not very efficient and it does get costly.
Q : What is socialism?
A : The short answer is the means of production is owned by the government, rather than by individuals. Socialism requires a large government that destroys wealth. Let me expand on that:
In 1935, Germany was the most socialist country in the world. That gave us Nazi Germany. Then Britain went the same socialistic route post-WW II. The government owned the railroads, the mines, the factories—and the economy tanked. It was only to be reversed by Margaret Thatcher starting in 1979. Prosperity followed. Today, we have Venezuela.
Tune in live to WDUN AM 550 at 6:40 a.m. to hear Dr. Northwall discuss the U.S. national debt and the likelihood of it spiraling further down the road.
WDUN News Talk
AM 550/102.9 FM
December 10, 2018
Q : Who is a socialist?
A : A person favoring socialism; Elizabeth Warren, Bernie Sanders, Cory Booker, Kamala Harris, Alexandria Ocasio-Cortez, and others. They favor government owning, or at least controlling the means of production. Socialism has also been used to refer to expanding already available social programs and potentially raising taxes to do so.
Q : What are examples of socialism?
A : Britain post-WW II. The government owned the steel mills, the railroads, and the mines. Of course, there was the Soviet Union, and there is Cuba, North Korea, and China. Today, there is Venezuela. And don’t forget Spain and Greece.
Q : The Venezuela story is really awful, what happened there?
A : In 1950, Venezuela had the fourth highest per capita income in the world, behind only the U.S., Switzerland, and New Zealand. Around 1958, the government started interfering with the economy with price controls, higher taxes, and restrictions on property rights. Then Hugo Chavez came to power in 1999. Benefiting from about one trillion dollars in oil sales during his 14 years in power, he launched massive social spending programs to secure votes. Today, the country with the world’s largest oil reserves suffers from a severely contracting economy, runaway inflation, despotism, mass immigration, criminality, disease, hunger and starvation with conditions deteriorating daily.
Q : Why does socialism fail?
A : All economic decisions are through centralized planning. Controlling all economic decisions for the millions in a country with a one-size-fits-all plan can’t satisfy the needs and wants of every individual. It is only by letting every individual pick and choose what each wants and can afford, has it proven time and again, country after country, that a free-market system is the best system of all for everyone. Anything less ends with economic distortions, waste, and worse. Leaders buying votes with massive spending programs to stay in power leads to unsustainable debt. Then there is government collapse, and then tyranny.
Q : Why do young people turn away from capitalism?
A : Some look at business people as greedy people who frequently bend the rules. When they gift charities saying they want to give back, people think they stole that wealth to begin with. And it doesn’t help when the heads of huge corporations (after laying off many) retire and take out millions. And the millennials, even if they find work, don’t pay much in taxes, yet they hear of health care insurance premiums going through the roof, and they think it only fair that the government give it to them free.
Q : What are the differences between socialism, communism, and fascism?
A : A matter of degree—socialism replaces capitalism’s innovative entrepreneurs and competition with centralized planning, while owning the means of production. Going all the way leads to communism and a tyrant in charge. When the allure of communism fades, it gives way to fascism. Hitler before, Putin today.