market-ticker.org / by Karl Denninger / 2017-03-26
Friday afternoon the Republicans “pulled” the AHCA without a vote.
This is the common way that the party in power makes sure you never get a recorded answer these days as to who opposes and who supports some piece of legislation: If there is no majority to pass it, they never vote at all.
If you think about it for a bit you’ll realize that’s the exact antithesis of representative government. Representative government not only “works” when it passes something it works when it fails to pass something too, and the list of elected officials who did and did not support something that fails to pass is just as important and maybe more-so than those who supported (or not) passed legislation.
But, now you simply have claims — not votes. And remember folks, claims are not votes; if they had been (according to the polls) we’d have President Hillary right now.
Now let’s talk about health care and “health insurance.”
Let us remember that insurance is simply a math problem. That is, insurance is always and everywhere simply the expression of the formula [sum(p * c) + cost(operation of insurance company]
p = probability of having to pay a claim on a specific event
c = cost of the event
And of course “sum” is the sum of all the “p * c” components that exist
Read more ... source: The Bitcoin Channel
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