Although there may be many reasons, there is no purely rational reason for ever taking out insurance. In other words, taking out insurance is a fear-based, irrational decision. Essentially, you are betting against yourself. That is how the insurance companies make money, they make you bet against yourself and they take the other side. Statistically, they make sure the odds are at least 51% – 49% in their favor. They are playing off your fear and statistically, they win you lose, the majority of the time. Continued
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Book
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My book The New Game provides an economic back-up plan and formula to help us shape our economic future.
It's an approachable and timeless solution promising an era of sustainable economic growth stoked by entrepreneurship and innovation.
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Recent Tweets
- Federal Reserve to buy Treasury bonds - otherwise known as "drinking its own blood". Interest rates will spike as hyperinflation results. 2010-08-11
- Prices of essentials such as food and electricity to inflate, while prices of non-essentials such as big homes and cars to deflate 2010-08-11
- Essentials such as electricity and food prices to inflate in price and non-essentials such as big homes and fast cars to deflate in price. 2010-08-10
- Goldman Sachs bans naughty words in emails. Partners and employees of the Wall Street firm to sell girl scout cookies as well. 2010-08-04
- Real Estate set to plummet, again. Banks will be forced to sell at auction prices which will dramatically reset market prices. 2010-07-13
- More updates...
