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Mike Rappaport
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Jim, Your statement here is puzzling: It never makes economic sense to carry insurance, of course, unless you can trade on private knowledge that the insurer is unaware of or you can get greater fools to participate in the pool. You are right -- you don't ususally make money from insurance. But you reduce risk and people value that. So it makes economic sense to insure, even though you lose money. It also makes economic sense to buy a TV, even though you lose money.
Interesting idea. But I doubt that it is fair to the property oweners, who must shoulder the entire burden. And then the remainder of the country can continue their profligate ways.
It is true that McCain was clueless, but he would not have passed profligate spending bills, such as the stimulus and the first budget passed by the Democrats in 2009.
Michael -- I think you are right, but I think the disaster that Bush 41 created -- leading to Clinton's Oslo -- will make future Republicans think twice about such actions. But it is always a risk.
Toggle Commented Sep 26, 2011 on The GOP and IsraelMike Rappaport at The Right Coast
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Mar 15, 2010