My car insurance and condo insurance are up over 25% this year. This is because the entire insurance industry is a total scam that is just paper derivatives sold like 74 times. They never pay out, I’m forced to have them, and every insurance company is completely insolvent.
Discussion
Life insurance has to be the biggest scam/ ponzi. The numbers just don’t make sense.
Completely. The insurance industry sneaks under the radar with what a scam they are. There is a reason every third commercial on TV is for insurance. They are the big pharma of finance.
What happens to home prices when they can’t get insured?
We are gonna find out. The insurance market is breaking.
Allow me to reintroduce you to the unfunded liabilities section
The whole system is insolvent.
Another reason to leave the fiat world behind. Bitcoin IS insurance because of self-custody
Also, healthcare and "insurance" is a match made in hell. Hospitals would do very well to mine bitcoin and tell insurers and PE firms to fuck off
Yep. I actually look forward to the Crowd Health model and relationship with the hospital model becoming the norm.