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Insurance: The Canary in the Coal Mine

Original post made by sharon, Midtown, on May 14, 2009

President Barack Obama, calling current deficit spending “unsustainable,” warned today of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

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Comments (6)

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Posted by fireman
a resident of another community
on May 14, 2009 at 3:41 pm

Insurance? You mean pay money to get coverage for loses. A promise?

Have loses and have the insurance company say SORRY. Not covered!

Am I the only one who has heard that story?

Sounds like the PA CITY COUNCIL, Nanny joe and the rest of the ,, who got something from that insurance coverage.

votes, Ammo for promises to the public?

Like this comment
Posted by fireman
a resident of another community
on May 14, 2009 at 3:44 pm

Or is that , SORRY,, After we pay ALL the OVER paid leaders their BONUSES and other benefits. WE WILL HAVE NO MONEY for your coverage?

Sorry you are SOL. oh and I just retired to my CITY home, to play with the money from my city loan..

Both those add up to BAIL OUT

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Posted by fireman
a resident of another community
on May 14, 2009 at 3:49 pm

You know The City of Brea got a Boy, tortured and MURDER. When FRANK BENEST was its city manager. Who PAID? (Chad Mc Donald.. r.i.p)

A Insurance company PAID to settle out of court. So no CITY OFFICIAL would have to stand trail.

Is that what Insurance is for?

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Posted by Sharon
a resident of Midtown
on May 14, 2009 at 7:48 pm

actually this is a very astute article from the Asian Times, the author has a great track record, he used to post as "Spengler"
BTW I did not post the original topic, I guess there is more than one "real Sharon" in midtown.

worth reading, the insurance industry is in big trouble, therefore we all have a lot of exposure if things go south.
The management and dealing in risk is an arcane, but now big deal AIG was the tip of the ice.

Like this comment
Posted by Perspective
a resident of Midtown
on May 15, 2009 at 6:55 am

Wow, this was absolutely hilarious!

Talk about straddling a fence!

Quadruple our debt in a mere 3 months, and then complain about it, calling it "unsustainable" like he and the Dems had nothing to do with it!


How is he or the Dems going to blame Bush and the Repubs for this when none,,or was it..2??.... Repubs voted for any of the Spending increases since 1/20/09, and the Dems have controlled Congress for 2 1/2 years and been in charge of ALL BUDGETS?

Most of us Americans were opposed to the bailouts when they began a year ago. If ANY presidential candidate had come out against Bailouts, he or she would be President today. The Dem Congress and Bush did not listen to the people, and started the ball rolling. They STILL didn't listen to the people and 1/20, breaking promise after promise, completely misreading the results of the election..and pushed the ball harder and faster.

And now it is "unsustainable" and we have to fix the insurance problem with more government..problems which govt helped create, and problems which would be easily solved except that when your only solution is a hammer, every problem is a nail.

This is going to be fun.

Too bad it is taking us ALL down in the same boat.

Like this comment
Posted by Sharon
a resident of Midtown
on May 15, 2009 at 9:34 am

The US Gov now takes over the insurance industry, will limit salaries and etc.
"The Treasury yesterday granted preliminary approval for some of the nation's largest insurance companies to receive capital infusions under the government's Troubled Assets Relief Program, Treasury spokesman Andrew Williams said. "Web Link

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