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View Diary: Open thread for night owls: A captured government (67 comments)

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  •  I don't think we fully appreciate the extent (1+ / 0-)
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    to which insurance personnel have populated governmental entities at all levels. Also, if we consider that we organize public corporations to deal with the vagaries of nature, then insurance companies are in competition with our public corporations. Except public corporations actually do things to mitigate the risks of fire, flood and civil unrest destroying property and lives. So, in a very real sense, insurers take the cream off the top. And, since their profits are greater when public corporations' services are high quality, you'd think they'd be in favor of increasing the level. That they're not is a consequence of the fact that "individual responsibility" is more profitable for the middlemen. We really have no idea of the extent to which the middlemen get fat off of the imposition of industry standards for building construction, plumbing requirements, fireproofing and even alarm systems (which go down when the power goes out unless batteries are constantly replaced). Efficiency is not the name of the game.

    Insurance is a racket. The insurance industry is founded on fear mongering. They offer protection that is either unnecessary or not delivered. They also promote the reckless behavior of naturally reckless people. The reckless enabling the reckless.

    I think we have been persuaded that time is money and that if we save money, we are saving time. But that's false. Money is in infinite supply; time is definitely limited. If we waste money, we can get more; time wasted is gone forever. So, why save money?  To hand it over to people without talent, who can't earn it from any practical endeavor, so they can lend and spend it to sustain themselves. What's the alternative? To have the incompetents steal what they need.

    The whole financial class is made up of leeches. The binary model into which economists have divided our enterprise distracts us from the fact that there are at least three groups. There are creators, producers and consumers and the latter are really absorbers of surplus, unless we let them get greedy.

    financiers = greedy leeches

    We organize governments to deliver services and prevent abuse.

    by hannah on Wed Mar 06, 2013 at 11:44:18 PM PST

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