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Double Whami Brings Down America
Insurance companies brought down American yesterday with a 'double whami'. First there was AIG and credit default swaps and now the health care reform bill, argued more as the insurance reform bill, as Democrats made their final statements before the House. We Americans are so out of touch with the reality of earned money, and have so long been spending with credit and leveraged money dangled by insurance companies (who are supposed to stay profitable mind you), that the bill has come due. Mandatory health insurance means that we will be cashing in our freedom to pay for the insurance. But is it enough? The previous mortgage meltdown puts credit default swaps at 670 Trillion while the entire World GDP is only 70 Trillion. America has not only brought down it's own economy, but the World is likely to follow. Any attempt at paying off this debt was canceled, yesterday, March 21, 2010 as the House passed the Health (a.k.a. insurance) care reform bill. |