There They Go
Well, it seems the US is basing its prosperity on leverage, wherever it can find it.
Making a good bit of money? Why not bet on your own good health and downsize your medical plan? Just to make sure you still go bankrupt when something bad happens.
Or, you can be a patriot and go for the gold plan, getting taxed to high heaven for the privilege.
How this is looking to me, past and future:
People leveraged up making bets on the health of their house values (and second house’s values, and on and on, of course).
Banks leveraged up making bets on Joe Martinez.
The government leveraged up making bets on banks.
The government actually has to pay for this (what rolls downhill?).
The government raises taxes on health benefits (the #1 source of the climbing consumption spending in the US economy, by the way, not flat screen televisions).
People leverage up making bets on their good health.
Insurance companies leverage up making bets on Joe Martinez.
Someone spits in Joe Martinez’s eye (how did that happen?).
Joe Martinez bankrupts himself trying to pay his deductible…
… which bankrupts the insurance company making their bet on him …
… which causes the government to inflate the currency bailing out the insurance company.