Insurance Company: "Your annual premium is $7,200."
You: "I've paid it every year for nineteen years. That's $136,800."
Insurance Company: "Correct."
You: "The storm took my roof. I'm filing my first claim."
Insurance Company: "Adjuster will be out Thursday."
You: "He was here. Photographed everything. What's the determination?"
Insurance Company: "Denied. Pre-existing wear and deterioration."
You: "The roof was six years old."
Insurance Company: "Our assessment differs from yours."
You: "So what did $136,800 buy me?"
Insurance Company: "Continuous coverage."
You: "Coverage for what?"
Insurance Company: "You're welcome to appeal. Or sue. We have four hundred attorneys and no deadline."
You didn't buy protection.
You bought the right to be told no by a company that already spent your money.
Below is a quote on gold & silver from circa 1910 as quoted in "The Raven of Zurich: The Memoirs of Felix Somary."
While many investors (correctly) say, "It's never different this time", most investors do not look back far enough in time.
History did not start in 1980 or 1945.
"I would sit down with the American people- like a fireside chat- and I would say:
'Listen, something extraordinary is going to happen over the next month-
And the reason its happening is because your leaders have been lying to you for the last 80 years...
We're gonna get rid of the debt...
The effects of this are going to be very inflationary...
It is going to be most painful to those.... that benefitted the most from this arrangement:
Washington, Wall Street, and retirees-
And it is going to be least painful for those who were hurt most by this arrangement:
The working class, the middle class...'"
- @LukeGromen, in discussion with @JackFarley96
I don't think people appreciate how crazy Minnesota actually is. Minnesota is suing and making agreements with gang members to not attend public events so public officials don't look bad.
Instead of arresting them, they are banning them from public events.
If Lindsay Clancy had methodically strangled and killed three puppies, instead of her own children, almost all of the women defending her now would instead be calling for her execution.