604300+ entries in 0.427s
mircea_popescu: bounce because mircea
the evil can and will
tell everyone
to go fuck himself with a rolled up newspaper, among other
things. because it's his motherfucking million.
undata: I'll admit I've never
thought of insurance as such a central component of economics
bounce: you ask for
the insurance administrator
to hop by and observe your freshly burned-out house
bounce: that would appear
to be
the rub, yes. pension funds and "financial products" and whatnot
undata: bounce: how does
the
thing know when
to pay out?
mircea_popescu: then
the
town is bankrupt suddenly, and everyone wonders
mircea_popescu: soon enough
they're out
there supporting causes and underwriting bonds with gs and stuff.
bounce: good
thing insurance co-ops only have one
thing
to do
mircea_popescu: undata well, could be summarized
thus. moreover, what it's saying is
that capital allocating wisdom can not be faked by merely collecting capital.
undata: complicated way
to say
that
the primary role of
the rich guy is dispensing his capital-allocating wisdom, if I follow
mircea_popescu: a guy with one million one dollar bills collected from his fellow nobodies is not a millionaire. he's a dangerously overpowered representative of
the mob.
mircea_popescu: but irrespective of all
this,
they play a role
to support a
theory, and
that
theory is "we
too".
mircea_popescu: they are not slaves, have not
the
training, nor
the skill nor in
the end
the needs or structures of
that relationship.
mircea_popescu: the girls in
the ghetto, for love of
their fatherland, pick up john, sit him down at
the
table opposite and cuddle at his feet, just like
the others.
mircea_popescu: ie, john is a poor but stupod kid from some downtown ghetto in some derpy
town. one day, mircea
the evil comes
there on business, sits down in
the bar with his
two bitches cuddling at his feet and drinks a rum or something
mircea_popescu: Ei, asta-i patriotismul, fetele din exemplu dau dovada de “dragoste de cartier”, si asta-i chestia pe care s-a construit Romania socialista daca sunteti curiosi, o structura de altfel imprumutata de la Romania carlista.
Totul pentru patrie!"
mircea_popescu: indiferent de
toate aceste aspecte, ele joaca un rol ca sa sustina o
teorie : ca si la noi aici in cartieru’ curului avem chestii fine, si-un Ion care chiar daca-i numa’ din
trei litere
totusi e la fel de bun ca orice sef venit din zari.
mircea_popescu: si i se ghemuiesc la picioare si ele, ca alelalte. Ele sigur nu-s sclave, n-au nici antrenamentu’ nici priceperea nici pina la urma nevoile si structurile relatiei respective, acasa nu le-asteapta coloane de marmura, gradini unde apa susura printre chiparosi si havuzuri din care irumpe martipan ci peretii goi de beton, carpeta cu rapirea din serai si noptiera de placaj ramasa de la strabuna cu plosnite cu
tot. Da’
mircea_popescu: the relevant part : "Ca sa ne intelegem mai bine : Ion e un copchil sarac si cam prost dintr-un cartier amarit din ceva orasel indistinct. Intr-o zi, Mircea cel Rau vine pe-acolo cu
treaba, se aseaza-n bar cu cele doua catele ghemuite la picioare si bea un rom ceva. Fetele din cartieru’ respectiv, din dragoste de patrie (in exemplu’ nostru cartieru’ respectiv) il iau pe sus pe Ion, il aseaza la masa de vis-a-vis
assbot: Tara ca un hotel, sau o schimbare de perspectiva pe
Trilema - Un blog de Mircea Popescu.
bounce: you can pot up
the risk, which is
the function of
the rich man in
the narrative
mircea_popescu: you can't emulate a rich man by getting 100 poor idiots
to donate a dime.
bounce: well,
they work a lot better
than
trying
to go
to
the moon your way
mircea_popescu: just because insurance co-ops exist doesn't mean
they're anything important you know.
bounce: look. fire insurance. over some area 2% of
the houses burn down every year. so you insure against
that by gathering a goodly bunch of house owners and
they contribute 2% of
their own house's rebuilding value
to
the pot, plus a little extra
to cover administration. instant rich party
to cover houses burning down.
mircea_popescu: asciilifeform
these are
things
that should be emin ently insurable in bounce's paradigm of insurance
mircea_popescu: enough people with
the same problem construct a large problem, not a solution.
mircea_popescu: bounce sure. you can also go
to
the moon by pulling on your underwear
bounce: you don't need an external rich party
to provide insurance; you can create your own. all you need is enough people with
the same problem.
undata: if I'm willing
to provide you insurance, I'm giving you useful information about my assessment of your risk-level
mircea_popescu: "the odds of
this crop failling are 1%, pay me a dime get a ducat if your crop fail"
mircea_popescu: this is why
the
trading states (historical la serenissima, others) benefited so much from rich people in
their midst. it creates stability, when
there';s a guy with a large fortune capable
to make specific statements about
the future.
Adlai: bounce: i don't know what it's worth exactly, but just listening
to everybody's fearbabble and
the
taboo against suicide suggest
that it's way overvalued
these days
assbot: ClubOrlov:
The Wheel of Misfortune
undata: bounce:
they're betting against each other with it
bounce: the rich don't need insurance,
they can pay
the disaster out of
the way out of pocket.
mircea_popescu: but insurance is a financial matter, based on
the wealth of
the rich.
mircea_popescu: this is
the communal view, based on a cooperative of
the poor.
mircea_popescu: <bounce> you know, insurance by its very nature is a social institution: statistics
to spread
the pain of disaster over many in manageable proportions. << i do not agree.
bounce: so what is
the value and
the valuation of a human life?
bounce: you know, insurance by its very nature is a social institution: statistics
to spread
the pain of disaster over many in manageable proportions.
mircea_popescu: otherwise
the market, if left alone instead of forced
to "not abuse power" or w/e it's called, would push
them
to what can be borne on volatility
mircea_popescu: incidentally,
the REASON insurance in
the us is so expensive, is exactly
the nonsense noise and crap induced in
the calculations by
the socialist legislation.
mircea_popescu: doubt it
tho,
the house edge naturally
trails
the quality of prediction.
mircea_popescu: same
thing as discussing "average iq" or other similar insanities born out of an inability
to statistics.
mircea_popescu: asciilifeform as in,
take five people, pretend
they're all
the same, insure
the lot.
Adlai always
thought of pool operators as selling insurance
to miners... but are miners collectively selling insurance
to nonminers?
mircea_popescu: asciilifeform well,
the earlier discussion about iq, say, in
the recent days.
mircea_popescu: (as
to
the first part, bitcoin mining is EXACTLY insurance, as a mechanism. it
turns a string of discrete events (blocks found) into a practically continuous stream of services (hashes))
mircea_popescu: now
these may be used synonymously, but
this misuse speaks only
to
the idiocy of
the user.
mircea_popescu: then
there's sociaism, which makes no sense (average out nonscalar values)
mircea_popescu: there's insurance, which makes sense, if events happen discretely converting
them into a continuous stream is useful.
mircea_popescu: asciilifeform he doesn't know
the juicy details
that fate was held as more powerful
than zeus.
assbot: ClubOrlov:
The Wheel of Misfortune
mircea_popescu: that way insurers won';t be able
to
tell
the difference in flood insurance between kansas and louisiana
mircea_popescu: you are objectively more expensive
to insure. reflecting
this in
the cost of insurance is a subversion ?
bounce: it's a subversion from how insurance is supposed
to work
bounce: the fact
that your insurer knows you've been ill lately gives
them
the power
to raise
their rates on you
mircea_popescu: in short : everything worth
talking about "affects
the person"
mircea_popescu: bounce how far does
this extend ?
the fact
that i know you're fair haired gives me
the power
to say "blondie"
bounce: why yes, disease affects
the person; information about
the disease can do
the same
thing again, and again, and again. so
throwing it out for all
to see isn't something doctors
typically did, and when it inadvertedly happens, it's a big scandal. so
the government elevating "sharing" medical details
to
the new standard just because
they went all digital is a bit of a deviation from custom.