Private Equity Gloats Over A Doctor Glut

[deleted941485]

We may chuckle at this; but it is in this fashion that a sizable percentage of the millennials and beyond see the future - and with defensible logic.

I always just assumed this would our future. Hey at least you got to maybe partially enjoy your parents success if you didn’t grow up poor.

Millennials: You got to smell the boomer BBQ. But you’ll never take part.

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[sylvanthus]

I tell my trainees to step back and evaluate their path to FI at least every 3-4 months. If a resident takes a little bit of time to plan things out and then make some choices with FI in mind (ie first job/house/car/spouse), there are very few scenarios where a doc can't exit the ****show by their 40s or 50s if they chose

My fellow non trads and I are hosed.

 

[Arcan57]

I always just assumed this would our future. Hey at least you got to maybe partially enjoy your parents success if you didn’t grow up poor.

Millennials: You got to smell the boomer BBQ. But you’ll never take part.

I mean to be fair, there's a decent chance we don't end up with Blade Runner but with The Road, Mad Max, Handmaid's Tale, etc. Hanging out in the ED docs' FB group, there are a decent number of docs posting with the subtext that they're going to need their AR-15s to kill members of opposing sociopoliticoethnic groups during their lifetime. And that's in a group comprised exclusively of highly educated individuals in the top 5-10% of US income. There has to be a decent minority of the rest of the US that wouldn't mind society falling apart if it meant they'd get to be on top through force of arms.

 

[WilcoWorld]

I mean to be fair, there's a decent chance we don't end up with Blade Runner but with The Road, Mad Max, Handmaid's Tale, etc. Hanging out in the ED docs' FB group, there are a decent number of docs posting with the subtext that they're going to need their AR-15s to kill members of opposing sociopoliticoethnic groups during their lifetime. And that's in a group comprised exclusively of highly educated individuals in the top 5-10% of US income. There has to be a decent minority of the rest of the US that wouldn't mind society falling apart if it meant they'd get to be on top through force of arms.

I think this is more because the dialogue has become poisoned. Violent revolution is not inevitable, but those who would endorse it speak more loudly and, because our psychology loves fear and outrage, their voices get amplified.

 

[deleted941485]

I mean to be fair, there's a decent chance we don't end up with Blade Runner but with The Road, Mad Max, Handmaid's Tale, etc. Hanging out in the ED docs' FB group, there are a decent number of docs posting with the subtext that they're going to need their AR-15s to kill members of opposing sociopoliticoethnic groups during their lifetime. And that's in a group comprised exclusively of highly educated individuals in the top 5-10% of US income. There has to be a decent minority of the rest of the US that wouldn't mind society falling apart if it meant they'd get to be on top through force of arms.

Hell I welcome it. I’m not expecting to be at the top. But I am hopeful the dinguses who run things end up in a ditch somewhere surrounded mouth breathing ignorant poverty stricken citizens they helped create.

 

[VA Hopeful Dr]

I always just assumed this would our future. Hey at least you got to maybe partially enjoy your parents success if you didn’t grow up poor.

Millennials: You got to smell the boomer BBQ. But you’ll never take part.

I (and many others here) are millennials and most of us have pretty good lives.

 

[bronx43]

I (and many others here) are millennials and most of us have pretty good lives.

Whatever bad stuff happens, I am glad to have lived through the 90s - possibly the best decade in human existence.

 

[southerndoc]

Whatever bad stuff happens, I am glad to have lived through the 90s - possibly the best decade in human existence.

In relation to your 90s reference and the glut of new physicians and physician pay cuts:

 

[WilcoWorld]

Hell I welcome it. I’m not expecting to be at the top. But I am hopeful the dinguses who run things end up in a ditch somewhere surrounded mouth breathing ignorant poverty stricken citizens they helped create.

You welcome a society in which individuals have to resort to lethal force in order to protect their homes and families? That's whack.

 

[BoardingDoc]

Hell I welcome it. I’m not expecting to be at the top. But I am hopeful the dinguses who run things end up in a ditch somewhere surrounded mouth breathing ignorant poverty stricken citizens they helped create.

You welcome the complete downfall of society so long as a group of people you dislike has some sort of fall from grace? Maybe take a vacation and rethink this plan.

 

[oldtown]

You welcome the complete downfall of society so long as a group of people you dislike has some sort of fall from grace? Maybe take a vacation and rethink this plan.

He’s going to be like Danny McBride in this is the end, a warlord of sorts with Channing Tatum on a leash as a sex slave

 

[thegenius]

The older I get the more I'm convinced that the amount of corruption in our society is growing like an out of control cancer. I don't know if I'm just noticing more what's already been there, if I'm getting more jaded and conspiratorial, or if there truly are less and less good guys winning. But it makes me crave the days I can retire with nothing but a fishing pole, a drink and throw my cell phone in the pond, for good.

Sounds like heaven.

 

[thegenius]

Its because the country is probably getting poorer overall for the average person and there just isn’t much productive activity being done so people resort to fraud and theft. I’m too young to retire and too cynical to think I ever will with any dignity. Best I can hope for that I am in the within the initially blast zone when the nukes start flying.

Somehow I get almost the exact opposite impression: the country as a whole is incredibly rich, but there are some very greedy groups doing their utmost to hoard all the gains from that productivity. You're going to have a hard time convincing me that private equity and their ilk are "resorting" to fraud and theft because of their poor situations.

I think both comments are true.

 

[deleted941485]

You welcome the complete downfall of society so long as a group of people you dislike has some sort of fall from grace? Maybe take a vacation and rethink this plan.

I’m on vacation and was able to do some real thinking. Preserving a dying social order is immoral. Humanity needs serious readjustment (just a whole lot less of everything we are doing to the planet, to ourselves…etc) that incremental change just won’t bring.

 

[thegenius]

I’m on vacation and was able to do some real thinking. Preserving a dying social order is immoral. Humanity needs serious readjustment (just a whole lot less of everything we are doing to the planet, to ourselves…etc) that incremental change just won’t bring.

I'm not sure it's possible that human beings, given how advanced we are, the limitations of genetics, and our other social and biological properties are capable at this point in time of "preserving" our species. We will eventually destroy this planet...and if we move to another planet we will destroy that planet and everything on it. We will continue destroying things until something destroys us (which will probably be us).

We are too smart for Darwinism. We can evade pressures of natural selection, adapt to inherited genetic variations that should cause death, and alter the need for individuals to compete, survive and reproduce. Everything on this planet lived in general harmony with a sustainable cycle of life and death until humans started changing the way they live around about 15,000 years ago.

 

[Franzd'Epinay]

I'm not sure it's possible that human beings, given how advanced we are, the limitations of genetics, and our other social and biological properties are capable at this point in time of "preserving" our species. We will eventually destroy this planet...and if we move to another planet we will destroy that planet and everything on it. We will continue destroying things until something destroys us (which will probably be us).

We are too smart for Darwinism. We can evade pressures of natural selection, adapt to inherited genetic variations that should cause death, and alter the need for individuals to compete, survive and reproduce. Everything on this planet lived in general harmony with a sustainable cycle of life and death until humans started changing the way they live around about 15,000 years ago.

This is probably semantics, but we won't destroy the earth. Maybe we'll make it inhospitable to humans, but the earth will be fine. If we die off, other species will thrive and the earth will keep on speeding through space like nothing happened. So we don't really need to look out for the earth, but ourselves.

 

[deleted941485]

I'm not sure it's possible that human beings, given how advanced we are, the limitations of genetics, and our other social and biological properties are capable at this point in time of "preserving" our species. We will eventually destroy this planet...and if we move to another planet we will destroy that planet and everything on it. We will continue destroying things until something destroys us (which will probably be us).

We are too smart for Darwinism. We can evade pressures of natural selection, adapt to inherited genetic variations that should cause death, and alter the need for individuals to compete, survive and reproduce. Everything on this planet lived in general harmony with a sustainable cycle of life and death until humans started changing the way they live around about 15,000 years ago.

Yup. Also don’t forget the cruelty we have and continue to subject ourselves to as a result of this system we have built.

Im ok with it ending. It’s not because I think what is coming will be better in any way. It’s just that I’m tired of having to justify its existence.

 

[AlmostAnMD]

I don't want to see the earth ruined

I do want to see end-stage fibro/anxiety patients face the choice of cultivating their own food and providing their own security or laying down and dying

mixed feelings

 

[thegenius]

This is probably semantics, but we won't destroy the earth. Maybe we'll make it inhospitable to humans, but the earth will be fine. If we die off, other species will thrive and the earth will keep on speeding through space like nothing happened. So we don't really need to look out for the earth, but ourselves.

yes that is semantics. When we go from 2M species down to 100K in the future because of our behavior, we have basically "destroyed" the planet. Earth doesn't need to turn into molten lava to be destroyed.

Humans won't all die off....but we will no longer have the vivacious, bucolic, lovely planet we once had.

 

[thegenius]

I don't want to see the earth ruined

I do want to see end-stage fibro/anxiety patients face the choice of cultivating their own food and providing their own security or laying down and dying

mixed feelings

I have no mixed feelings about that!

 

[turkeyjerky]

You welcome a society in which individuals have to resort to lethal force in order to protect their homes and families? That's whack.

Perhaps it's a formulation of game theory. Once a critical mass of people value the harm that others sustain over their own incremental health and prosperity, society collapses.

 

[EctopicFetus]

I'm not sure it's possible that human beings, given how advanced we are, the limitations of genetics, and our other social and biological properties are capable at this point in time of "preserving" our species. We will eventually destroy this planet...and if we move to another planet we will destroy that planet and everything on it. We will continue destroying things until something destroys us (which will probably be us).

We are too smart for Darwinism. We can evade pressures of natural selection, adapt to inherited genetic variations that should cause death, and alter the need for individuals to compete, survive and reproduce. Everything on this planet lived in general harmony with a sustainable cycle of life and death until humans started changing the way they live around about 15,000 years ago.

Perhaps a review of the Cretaceous period where half of all species on earth died?

Mass Extinction: What Happened 65 Million Years Ago? | AMNH

Explore the great change our planet has experienced: five mass extinctions, the most recent of which was 65 million years ago.

www.amnh.org

i get that every period is unique but let’s chill with the hyperbole. Maybe humans die off. Everything else will be fine.

 

[Old_Mil]

You’re not going to be able to teach enough ER doctors to be CEOs. The better way is to unionize and leverage your collective power. Unified, you can bend the world to your will, in a matter of hours. Acting as individuals, you’re nothing but high cost, replaceable hourly help.

Unionization is the only way forward from here, there is no going back. But to get there, you have to break the 1099 model and become W2s.

 

[Old_Mil]

What is Rent Seeking

 

[Old_Mil]

Whatever bad stuff happens, I am glad to have lived through the 90s - possibly the best decade in human existence.

1985-1995 was pretty great. Many of the good things from previous decades still persisted and a lot of those social problems had been solved before a bunch of stuck in the past boomers re-inflicted them on society.

 

[southerndoc]

What is Rent Seeking

View attachment 356478

Your graph is spot on.

 

[bronx43]

Perhaps a review of the Cretaceous period where half of all species on earth died?

Mass Extinction: What Happened 65 Million Years Ago? | AMNH

Explore the great change our planet has experienced: five mass extinctions, the most recent of which was 65 million years ago.

www.amnh.org

i get that every period is unique but let’s chill with the hyperbole. Maybe humans die off. Everything else will be fine.

Maybe everything else will be fine. Maybe not. Though even if geologic scale catastrophe happens, only one cell needs to survive to propagate this carbon based life.

 

[Arcan57]

1985-1995 was pretty great. Many of the good things from previous decades still persisted and a lot of those social problems had been solved before a bunch of stuck in the past boomers re-inflicted them on society.

The need for growth is both the reason for our success and the roots of our inevitable failure. We (Americans) are not designed to be a steady state society. Once we’ve gotten all the growth we can out of the existing structure, we dismantle the safeguards to wring out more growth. The system then breaks and the people that broke it bounce to another area of the economy. Only thing saving us for this long is that we (mostly) create new things to pour wealth into faster than we exhaust growth potential in current sectors.

 

[hundreddaysoff]

The need for growth is both the reason for our success and the roots of our inevitable failure. We (Americans) are not designed to be a steady state society. Once we’ve gotten all the growth we can out of the existing structure, we dismantle the safeguards to wring out more growth. The system then breaks and the people that broke it bounce to another area of the economy. Only thing saving us for this long is that we (mostly) create new things to pour wealth into faster than we exhaust growth potential in current sectors.

Related essay that makes concrete exactly how "we've" been "growing" for the past 20 years and how it relates to our present lack of baby food, chiles, etc:

Time to Get Real

Beer, baby milk, Siracha sauce, wheat, LNG terminals, washing machines and railways have one thing in common. SAAS and software cannot produce more of them. Making real things is hard but necessary. It's time for investors to get real.

drpippa.substack.com

 

[nexus73]

The need for growth is both the reason for our success and the roots of our inevitable failure. We (Americans) are not designed to be a steady state society. Once we’ve gotten all the growth we can out of the existing structure, we dismantle the safeguards to wring out more growth. The system then breaks and the people that broke it bounce to another area of the economy. Only thing saving us for this long is that we (mostly) create new things to pour wealth into faster than we exhaust growth potential in current sectors.

it's like the girlfriend who swears they "hate drama", but actually love drama.

 

[Arcan57]

it's like the girlfriend who swears they "hate drama", but actually love drama.

That’s an interesting take. Can you elaborate?

 

[wholeheartedly]

Private equity in health care: in the Antitrust crosshairs | JD Supra

Transactions and other investments in the health care industry by private equity firms are a hot enforcement topic at both the U.S. Federal Trade...

www.jdsupra.com