reply to post by ProfEmeritus
Good morning Professor! And good to run across you again as well. You always seem to have intuitive insight into this type of issue.
insurance companies make money.
Such a simple statement, but so profound as well. How can adding another pocket to fill save anything? But most people never think about this simple
principle.
Las Vegas thrives in understanding this aspect of human behavior. The casinos make huge sums of money every hour, based on more people losing than
winning. And yet, how many people down on their luck flock to that glittering oasis with the fervent belief that the casino is a way to get rich
overnight?
Insurance is a gamble, just as much as craps or slot machines or roulette is a gamble. The one running the game always wins. So why, oh why, do we
keep playing (and now demanding that everyone play)?
This should be called what it really is:
Forced Gambling via Government-Run Games. Not
Health Care Reform.
(Of course, if they don't, the government is always there to give them a bailout.)
Oh, don't get me started. We did such a great job with bailing out AIG, they were able to throw a lavish party for the very people who caused their
problems before they came back for seconds.
Oh, well, I can take a lesson from humanity and think about myself first... I fired AIG between bailouts, as soon as my policy came up for renewal.
TheRedneck