Still wacked, huh Bakky?
Awesome.
Everyone knows insurance or not is a form of gambling.
Glad you found out finally.
Insurance Business = Legal Ponzie Scheme. If you Google **How are Insurance Businesses differnt from Ponzie Schemes**
You get results explaining how they are DIFFERENT.
But that's NOT important.
It is how THEY ARE THE SAME ---that's what is valuable!
Insurance companies are not Ponzi Schemes. But, it sure is how the money capital investment flows.insurance companies are borderline ponzi’s themselves.
The definition of a ponzi scheme is when the broker/banker/agent
takes money and promises a unusually high return and then pays said
return from the incoming money from other investors.
Eventually, when the incoming investors dry up, the agent can no
longer pay the returns and the scheme comes crashing down.
insurance companies rely on the statistical powerInsurance is its own thing, closer to a casino than a Ponzi.
The bet is not on the roll of dice but the chance events in the real world.
And just like a casino with only one gambler in which one big win followed
by a walk-away from the table will wipe it out, insurance companies rely on the statistical power
of large numbers of insured people to essentially guarantee their return on investment.
... is offset by a million premium payers
of large numbers of monthly payments
Even though insurance doesn’t qualify for the definition of a ponzi scheme. It is still a scheme.You say they are NOT really Ponzi Schemes? Hmmm….let’s see, in Vegas
the house stacks the odds in its favor so that the players can’t win.
Same as insurance companies. In Vegas the house takes your money and
you get nothing in return generally other than the feeling you were had.
Same as insurance companies. In Vegas you at least feel important and
are treated well for a very short period of time as long as you pay.
If you take money from the house with any sort of regularity you are NOT welcome.
Same as insurance companies. In Vegas you are openly gambling.
Same as insurance companies. In Vegas you have a chance (be it ever so small) of coming out a winner.
Not so with insurance companies. You get nothing for years of payments.
You tell me if this is a ponzi or not. I would argue that the whole f-ing financial industry serves only itself.
This includes insurance companies. Invest your own money or put it away. Don’t give it to these jokers.Nice piece ..though in reference to “they would still have
their current insured to collect premiums from.”
This sounds like it is assuming that the “current insured” will either
1. live, drive and pay in forever or
2. all get out at the same time.
Neither is the case, and if there were no “new investors”
but constantly people dying, becoming too old to drive, etc.,
therefore a decreasing base of “current insured” then eventually
you would reach a critical point where the premiums paid weren’t able to sustain the payouts.
You were right to think it was a Ponzi.As a former agent, I can tell anyone why I left the business.
Because being a professional liar is boring and stressful. Nothing an insurance
company will tell you is true. They use the 3 ‘d’s’; deny distract, delay,
especially if your premiums have been paid faithfully and on time.
They profit from impressions. They allude to actions they will not follow up on.
What are you going to do about it when you’re dead. On a life insurance policy,
insist the beneficiary gets a one-time pay out. Typically, the insurance company
will tell the family that the death benefit is being held in ‘their bank’ and are
going to write a check each month for some smart petty amount,
They will do this for awhile, until they stop sending the monthly check to see
if you’ll notice. Then they will claim they don’t have a policy or that there was
something ‘wrong’ with the original contract and should not been allowed;
next if that is proven to be BS, then they’ll lose the paperwork, mysteriously.
If you’re not distracted by then, then they will just wait until you get tired of asking.
Check it out, that’s how they make a profitInsurance is a part of the capitalist finance system.
It is a way to further impoverish the people. It is NOT socialism!
Obamacare was underwritten by private insurance corporations
to force us to by private insurance. Whether it’s “private insurance”
or medicare and medicaid, all money comes off the back of
working people and goes to the medical device monopoly,
phamraceutical monopoly and insurance monopoly investors.
I am so sick of people who are calling this “sociaism”
Still wacked, huh Bakky?
Awesome.
Everyone knows insurance or not is a form of gambling.
Glad you found out finally.
It is the responsibility of every American citizen to own a modern military rifle.
ponzi schemes don't have the federal government paying the shortfall like Obamacare does......
good point
lets stop helping these gamblers from forcing the health industry to support a profit for two industries
cut the fucking profit off sick people at least in half huh
Does bhak have a bucket or hat I can toss change in? He seems like a street mumbler.
If you wanted to create a Ponzie Scheme tomorrow ---I'd advise you to start-up an Insurance company instead--- it's more of a sure thing.
Of course small fries Need Not Apply.
Will supporting "all those NOT paying into the Obamacare system" equate to everyone who pays premiums getting dividends? No. Ergo. A Ponzie Pyramid ---folks put in money [by force] and the Insurance company pays out virtually according to the same rule-of-thumb as used in a "Pyramid scheme". Why would it fail? Only if no one paid into it. Ergo. A Ponzie Scheme.
The idea behind Obamacare was to save the Insurance companies ---The IC's needed lots of **young folks to pay in to cover the costs of the elderly and the illegal migrants flooding. Other wise the insurance company would stop operating.
**One groups pays in --- and funds are paid out to others.
I am not proposing that The insurance industry^^ is a Ponzie scheme.
I am saying that Insurance companies shuffle money the same way as a Ponzie scheme.
STOP ARGUING WITH ME DUE TO YOUR CONTENTIOUS CONTRARIAN AUTO-REFLEXES.
IF a bogus Insurance company operator wanted to employ a Ponzie scheme ---doing it under the cover of an Insurance company would work like a charm.
Insurance companies are legit. I do not dispute that! BUT, Insurance companies tally out their earning & payout expenses the same way as an Illegal Ponzie Scheme.
You know what else is a Ponzie Scheme right under your nose?
The Lottery.
Forget about How & Why Ponzie Schemes fail!
Remember how they stay profitable ---it is only negligent maneuvers & detective inquiry that topples a Ponzie Scheme.
If every Ponzie Scheme managed to morph into an operating Insurance company ---before they were found out to originate as a Ponzie Scheme ---they'd be in the clear.
The 1929 Wall street Crash was a Ponzie Scheme too. Right?
^^Industries usually are known for producing commodities
Insurance schemes are socialistic in nature...
The many, who may need it, pool their resources for the few who do need it to take advantage of ...
Apart from the profits the insurance corporations make in the deal, the scheme is pure socialism.
Everyone who buys insurance is a socialist.
Socialist insecurity and Medicare are Ponzi schemes
A sad commentary on we, as a people, and our viewpoint of our freedom can be summed up like this. We have liberals and conservatives, Democrats and Republicans, yet those very people look at Constitutionalists as radical and extreme.................so those liberals and conservatives, Democrats and Republicans must believe that the constitution is radical and extreme.
A sad commentary on we, as a people, and our viewpoint of our freedom can be summed up like this. We have liberals and conservatives, Democrats and Republicans, yet those very people look at Constitutionalists as radical and extreme.................so those liberals and conservatives, Democrats and Republicans must believe that the constitution is radical and extreme.
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