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Cake day: October 9th, 2023

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  • The Sandy Hook plaintiffs are owed $975 million. They are supporting the Onion’s bid by pledging as much of that as necessary to beat the opposing bid (remember, they have rights to most of the auction proceeds).

    An analogy: you put something on eBay, and then decide you want to keep the item for yourself. You can easily outbid anyone else, because in the end you are (mostly) paying yourself. The only question is how much eBay’s tiny cut will be.

    Well, Sandy Hook plaintiffs are basically putting Infowars on eBay but determined to win the auction. The winner of the auction is a foregone conclusion, so the only question is what small cut some other folks are going to get.







  • They didn’t publish the Communist Manifesto. They published a parody with the opposite meaning.

    It doesn’t really prove anything.

    Marx:

    A spectre is haunting Europe — the spectre of communism. All the powers of old Europe have entered into a holy alliance to exorcise this spectre: Pope and Tsar, Metternich and Guizot, French Radicals and German police-spies… Two things result from this fact: I. Communism is already acknowledged by all European powers to be itself a power. II. It is high time that Communists should openly, in the face of the whole world, publish their views, their aims, their tendencies, and meet this nursery tale of the Spectre of Communism with a manifesto of the party itself.

    Lindsay:

    A rising spirit is haunting America: the spirit of a true Christian Right. Moreover, all the existing powers of the American Regime since the end of the Second World War have aligned themselves against it and its re-emergence from the shadows of American civic life, politics, and religion—the Marxist Left and its neo-Marxist “Woke” descendant, the liberal establishment, the neoconservatives, and their police and intelligence apparatuses. There are two consequences of this unholy alliance. First, the Christian Right itself is recognized by all these forces to be a power and thus a threat. Second, it is time for this arranged order to end and for a New Christian Right to emerge and stake its rightful claim on twenty-first century American politics.










  • incentivizing the company to do what it can to make ALL COSTS go up, and raise premiums to match

    Sure, but the problem is that they can’t control ALL costs, only their own.

    If another insurance company manages to reduce their own costs (e.g. by paying anesthesiologists less), then that company will have an opportunity to lower premiums instead of raise them. And since insurance customers are extremely price sensitive, those companies that are trying to get to premiums to $1000 will see their customers switch to the one that keeps premiums at $100 or better yet $80.

    All the insurance companies know this, which is why they are all trying to reduce own costs rather than raise them.


  • they spend 80% of all premium revenue on care

    True. Actually, large insurance companies need to spend 85%.

    an incentive for insurance companies to pay higher costs for care so they can make more profit

    That doesn’t make sense. Insurance companies have to pay health care providers for care. The more care costs, the less money is left for insurance companies. In fact, if health care costs are too high then the insurance company can go bankrupt.

    That said, the converse is not true: insurance companies don’t directly profit by cutting health care spending. That’s because they need to use 80% or 85% of their revenue on care. However, cutting health care spending (by delay, denial, etc) allows insurance companies to lower their premiums.

    And since people often want the cheapest possible insurance, lower premiums means more customers, which means more total revenue, which ultimately does mean higher profits.

    Of course, the key assumption here is that customers will accept worse care if it means lower premiums. This is one of the few industries where you literally get what you pay for.