Monday, March 21, 2016

Long Term Care Gets Wobbly

I have a specific retirement plan:  I grab my chest mid-sentence at a trade show and drop dead on the floor.  I hope I make it to 900, but I'll be lucky if I make it to 90.  Long term care has never interested me, because long term care places, even the nice ones, are contrary to human nature.  All elderly is no place to live, no way to live.  I don't like concentration camps.

Social Security is a scam, and the private sector version is now getting wobbly:

Life insurers’ stock prices have suffered. Shares of 10 of the most prominent U.S. life insurers have lost 12% since 2008, wiping out nearly $30 billion in market value in a period when the broader market gained 40%, according to FactSet.
Long-term-care insurance is one of the products hardest hit by low interest rates, because insurers bank on investing customers’ premiums for 20-plus years before claims come due. Eight million Americans own the policies, and many face annual bills that are 50% higher than before the financial crisis, according to regulatory filings and interviews with financial advisers.

This is what happens when the hegemon gets a monopoly on currency.  We need strict separation of currency and state.

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