Analyst/trader Karl Denninger says Obama Care is doomed to failure because of pre-existing conditions of many signing up for coverage. Denninger explains, “If you are an insurance company and you only sell insurance to those who have already lit their house on fire, you’re not going to be in business very long. You have to […]
From Karl Denninger: Oh look what the cat dragged in….
“This population doesn’t understand why insurance is necessary,” Cheryl Smith, a health-exchange specialist at Deloitte Consulting LLP in New York, said in an interview. “It really is to protect your assets. When you’re young, you don’t have assets. You don’t worry about it.”
Karl Denninger is very good at laying things out in way that most can understand, even if they don’t truly understand economics. Mathematics and those nasty little things called exponents have a way of creating rather huge problems if not kept in check and we’re starting to see it across the board both as a […]