Also a reminder that finance is the center of all things:
From Mike the Mad Biologist's post Will The Public Options Become Romneycare?
> There's no reason why healthcare must be privatized.
Of course there is [...]
Health care is one-sixth of the US economy. A third of that goes into the operational overhead of private insurance. That's 5% of the US GDP that would go away if a real public plan were available, and if you think the financial meltdown last year was bad just watch what happens when that river of money to Aetna and the rest dries up.
I know this point has been made before, but it bears repeating over and over until it sinks into our heads: The excess money the insurance companies have over what they are currently using to pay claims, salaries, etc. is not just sitting in a sack somewhere: it is being invested. They also represent a portion of the stock market. When we think about the "rescue" of the banking system we should also remember the insurance companies.
[Edited to change title.]
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The money quote is in the ellipsis
Here it is:
Now go read Stirling. And then read up on the ferme générale ...
The concept of rent is the explanation for the "excess money" to which you rightly point. Thanks for the link!!
First they ignore you, then they ridicule you, then they fight you, then you win. -- Mahatma Gandhi
Ghandi
You quote, "First they ignore you, then they ridicule you, then they fight you, then you win." -- Mahatma Gandhi. That worked with the British but how well do you think that this strategy would have worked out with Stalin, Mao, Hitler, Castro, Chavez, Hussein,...? I get tired of these idiotic quotes by naive fools like Ghandi.
rdlynn