Buffett: health care is the tapeworm of the economic system: health care is the tapeworm of the economic system.
14 hours ago | 13:21.
Warren buffett wants to cut health care costs, but his fast food diet and his food and beverage investments have historically been linked to expensive health care.
In Berkshire hathaway CEO, amazon’s Jeff bezos and jpmorgan chase, jamie dimon, announced in January, they cut the partners health care costs and improve its service employees in the United States. In an interview Monday with CNBC’s “Squawk Box,” buffett repeated his now-famous phrase that health care spending is “a tapeworm in the economic system.”
In an earlier conversation, the investment legend said he often went to McDonald’s, burger king and occasionally Wendy. Buffett’s Berkshire owns the international dairy queen and owns burger king’s parent company, international catering brands, and kraft heinz and Coca-Cola.
“I think that is not ideal to improve health care, and to invest in the production of highly processed, the nutrition of the lowest products, these products are not the only cause of the popularity of public health,” said Las Vegas. It’s Andy Bellatti, a dietician.
More than a third of American adults are obese, according to the centers for disease control and prevention. According to a 2009 study published in health affairs, the cost of obesity in the United States is estimated at $147 billion.
Being overweight or obese can lead to chronic and costly diseases such as diabetes and heart disease.
According to the American diabetes association, type 2 diabetes in the United States was estimated to cost $245 billion in 2012, including $176 billion in direct medical expenses and $69 billion in indirect costs.
According to the centers for disease control and prevention’s national center for health statistics, heart disease costs about $200 billion a year in health care, drug treatment and productivity loss.
Of course, not everyone who drinks coke or hamburgers is overweight or obese. But public health advocates are urging people to eat less processed foods, drink less sugary drinks and increase the consumption of whole foods like fruits and vegetables.
As for buffett, he has publicly expressed his love for McDonald’s breakfast and its fondness for Coca-Cola.