More of the usual unrefutable reality from Karl Denninger. I'm not gonna post it all, and yes mon, he doesn't explicitly mention the insurance trade but rather includes it when he writes 'medical industry'. Here's KD's conclusion:
Think about it folks -- if you currently have so-called "health insurance" the reason you have it, and demand it from your employer (or from "Medicare") is that you believe you can't afford to simply pay cash for your medical care.
The reason you can't afford to pay cash is that the medical industry has used its lobbying power to demand protections from government, enforced with government's guns, that allow them to screw you and everyone else, driving the cost you pay for a reasonable level of care to 500% of what it would be in a free market economic system for health services.
That's theft and fraud and we simply can't afford it -- the medical monster has been growing at more than 9% annually for three decades and at this point it is threatening to consume the entire federal budget and then the entire economy! That obviously cannot happen but what can, and will happen is that our economy will collapse if this exponential growth is not stopped -- here and now.
We as a nation and people either take this on here and now at the root level or we're done. The entire world economic system is teetering on the precipice of too much leverage, too much debt, too much malinvestment and too many lies. China is slowing down precipitously, Japan is slowing precipitously, Europe is on the edge of collapse and we're whistling while we saunter along with our nose turned up and our head held high as the DOW stands at 13,000, the S&P at 1,400 and Apple goes for over $670/share.
Exactly as we did in 2006, sauntering madly toward the cliff of 2007 and 2008 ignoring the fact that the over-levered housing industry was crumbling right under our feet.
Except this time it's not the housing industry. It's government budgets at both state and Federal level, and not just here in the United States but world-wide.
Time is running out all right, but Romney/Ryan have no more vision or willingness to take this on than Obama -- or Johnson -- do.
As such I hope you're ready for what's coming while you stare at the ass of an Elephant, Donkey, or those who are selling gay marriage and dope-smoking as the "face" of their candidacy when you consider who to "vote" for.
And yeah, those are your so-called "choices."
http://tickerforum.org/akcs-www?singlepost=3019884
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