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View Diary: The Truth about why the US Chamber of Commerce, State Farm, Allstate & Chevron hate Lawsuit Lending (8 comments)

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  •  Nice job. (5+ / 0-)

    I'd just like to provide some context. I think it's because the "science" of economics, which evolved from accounting which, in turn, invented double-entry bookkeeping for purposes of accuracy, is wedded to the binary structure and that accounts for third-parties/middle men being effectively left out of consideration.
    In fact, the free market is populated by people who sit at the nexus of exchange and trade and claim a portion from each side (producer and user) for themselves, without contributing any benefit. Middlemen have always been around in the history of the Americas. After all, we can thank the merchants for filling sailing ships with human cargo, so they did not return to the colonies empty after having disgorged their gold and pelts on Europe's shores.
    The free market is a the place where people take free goods to collect a profit for themselves. Getting that procedure legalized redefines the traditional behavior of the highwaymen, who hold up travellers for a toll to sustain themselves.
    Insurance is a racket. At bottom, if government is working well, then we're paying double to avoid risk when we buy insurance. Which is why the insurance industry considers government at all levels as antagonists and which is why they make every effort to subvert the governmental system by recruiting and training candidates for public office. Mainly, they do that under the banner of the Republican party. The Tea Party people actually have a beef with the chamber types, but they don't know it. The Tea Party grass roots are people who actually make stuff, or made stuff with their hands.
    What has happened to health insurance is that it has been co-opted. It really is the insurance industry that's been reformed by the ACA, not the delivery of medical care. There's no more free lunch for health insurers. Whether people die quickly or slowly, they'll have to pay and their profits are capped. They get to collect a tax, but they have to not only provide a service, but content themselves with a rate set by the government. In the process, the legislators on Capitol Hill have virtually privatized themselves out of influence. Because, for example, instead of Congress doling out grants for hospitals and research centers, those facilities are going to be funded, automatically, out of the profits deemed appropriate by the federal bureaucrats and the insurance guys.
    What we need to keep in mind is that all dollars come from the federal Treasury. After that, the only question is how many middlemen get a cut before there's an actual good or service delivered. Medicare cuts the middlemen down to the minimum required to keep accounts and the patients actually do decide who delivers services.

    by hannah on Sat Mar 01, 2014 at 10:08:07 PM PST

    •  "Health insurance" is not insurance. That's why (0+ / 0-)

      most real insurance companies don't offer it.

      Over my lifetime, I have payed tens of thousands of dollars for homeowner's and driver's insurance. I have gotten almost none of it back, but that is fine. If my house had burned down or I was in a bad wreck I would have used up all of my premiums and many other people's as well.

      I have health insurance also. That mostly pays for my routine costs- they are just a middleman. It would be insane for me to have this except that most of the cost is payed by my employer due to the tax break.

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