Mephistos, More, Enough, Wisdom & Folly
A Jewish (Cobbled) Tail (With A Bite)
(My first pair of Mephistos shoes bought in 1973 – soled and resoled – 3 times – finally died today -a tear in the leather- at the age of 38. There was nothing MORE I could do. Another sole is lost. I feel like a ‘heel.’ Nothing is permanent.)
I bought MORE field hands and house slaves, MORE stewards and maids, MORE cattle and sheet than anyone who lived before me. I hoarded coins both silver and gold, raided the treasure houses of kings, and stripped caravans of their precious cargo. I filled my homes with singers and musicians. I piled crate upon crate stuffed with the most prized luxuries. I grew wealthier than any of my predecessors in Jersusalem and yet none of this satisfied me, nothing but wisdom alone
Ecclesiastes 2:6-9 Rabbi Remi Shapiro Translation
Fonts by Schwartz
I bought slaves – male and female – and I acquired stewards; I also owned MORE possessions, both cattle and sheep, than all of my predecessors in Jerusalem; I amassed even silver and gold for myself, and the treasure of kings and the provinces; I provided myself with various musical instruments, and with every human luxury – chest and chests of them. Thus I grew and surpassed any of my predecessors in Jerusalem; still, my wisdom stayed with me.
Ecclesiastes 2:7-10 Stone Edition Tanach (Orthodox)
Font by Schwartz
I bought male and female slaves, and I acquired stewards. I also acquired MORE cattle, both herds and flocks, than all who were before me in Jerusalem. I further amassed silver and gold and treasures of kinds and provinces; and I got myself male and female singers, as well as the luxuries of commoners- coffers and coffers of them. Thus, I gained more wealth than anyone before me in Jerusalem. In addition, my wisdom remained with me
Ecclesiastes 2:7-9 JPS Tanakh (Conservative Judaism)
Font by Schwartz
And here this writer use to mock The Rabbi Establishment with ‘where there is a Rabbinic will there’s a halacha (legal) way’ when the above ‘renderings’ are at best interpretative translations rather than literal translations. At a minimum, these interpretative translations should have a Judaic Warning label ‘Translation May Be Hazardous To Your Conclusions.”
The above stipulated, there is a common thread between these interpretive translations: that wisdom is preferable to MORE MORE MORE.
But even the wisdom balloon bursts with:
• If the fool’s fate is the same as mine, has wisdom any lasting advantage? And I concluded that wisdom, too, is empty (Ecclesiastes 2:15, Shapiro)
• So I realized: “The fate of the fool is also destined for me; to what advantage, then, have I been wise?” And I came to the conclusion that that (wisdom) too was futile” (Ecclesiastes JPS 2-15)
• So I said to myself: The fate of the fool will befall me also; to what advantage, then, have I become wise? But I concluded that this, too, was futility. (Ecclesiastes Stone Edition Tanach 2:15)
But neither MORE, the folly of ignorance is bliss, nor wisdom can overcome the ephemeral, impermanence, the emptying (hevel)!
In the end both wise and foolish are forgotten
The death of one is identical to that of the other
Ecclesiastes 2:16
Thus, when the game is over, the king, pawn, the wise, the foolish all go in the same box.
Is it any wonder most (99%+ see self interest past entry) have continued to seek t MORE MORE MORE better now financially (despite denials to appear selfless) and or continue to pursue MORE MORE MORE better now in other currencies (awards, knowledge, wisdom etc) despite MORE MORE MORE yielding in time LESS, WORSE & LATER foolishly repeated. Why – it is what we know, and this hardwiring is culturally reinforced by ‘hope & the pursuit of happiness’ which palliates the delusion or hole in the soul. MORE as Enough merely reminds of the impermanence – hevel of all including wisdom and folly – which at least initially depresses with in the face reality of ‘what next if not MORE MORE MORE?
Continuity, certainty, permanence is futile.
But this life – futile – no it’s a matter of accepting the ephemeral with equanimity (rising above the good and the bad) while holding to the faith that this life is a soul curriculum exercise for character development to merit to a-gain for again.
In the interim, if lucky, we are blessed with dogs -Ambassadors from God, Chaverim (friends) of The Soul- during midterms and finals easing the ephemeral, the impermanent, and the uncertain
Well, ‘enough’ of this‘sole-ful’ rendering. Like the physical demise of my 38 year old Mephistos – that’s shoe business – a hit today, tomorrow in the recycle bin.
I give you good leather, it’s up to you to make good shoes
Guirjieff
Thursday, January 12, 2012
Tuesday, January 3, 2012
More Than A Mouthful: Fetching More vs Enough
More Than A Mouthful: Fetching More vs Enough
Despite repeated efforts, over and over and over and over again, each day and every day twice a day when we play fetch, Goodie attempts unsuccessfully to put not only the ball thrown for her into her mouth but also Moses’. And with each attempt to place two balls into her mouth, pawing, pushing & batting as she might, Goodie inevitably drops the ball already in her mouth and is frustrated.
More than a mouthful is a waste in ‘more’ ways than one.
In seeking more, more, more it’s not unusual to the drop the ball we already have. More better now has a habit of becoming ‘worse, less, later’ whether in Goodie playing fetch, in personal financial planning or other life experiences.
One ball never seems to be ‘enough’ for Goodie (regardless of frustration) nor is enough seem to ever be enough for us in personal financial planning or life in general as if ‘there’s got to be more.’
MoreOnic behavior.
So we sacrifice what we need for what we don’t need.
Why do entrepreneurs make it lose it make it lose it – ad infinitum -despite advice to become independent of their independent businesses by having ‘enough’ in diversified passive protected assets regardless of their entrepreneurial ups and downs?
The question is why?
Having enough would cause an assessment of finding meaning IN one’s life?
More is hard wired and reinforced culturally to become habitual?
More validates in an external comparative sense to others?
More diverts, deflects from dealing with fear of extinction (which most identify as their physical body) while palliating through acquisition?
When Ben Franklin rhetorically asked ‘what is rich?’ and answered himself with ‘he is who is content,’ followed with the question, ‘who is that?’ and answered himself, ‘nobody!’
And so, again today, in attempting to secure both balls in her mouth, Goodie paws, pushes, and bats to no avail – and neither ball is secure in her mouth.
Yes, more than a mouthful is a waste.
Despite repeated efforts, over and over and over and over again, each day and every day twice a day when we play fetch, Goodie attempts unsuccessfully to put not only the ball thrown for her into her mouth but also Moses’. And with each attempt to place two balls into her mouth, pawing, pushing & batting as she might, Goodie inevitably drops the ball already in her mouth and is frustrated.
More than a mouthful is a waste in ‘more’ ways than one.
In seeking more, more, more it’s not unusual to the drop the ball we already have. More better now has a habit of becoming ‘worse, less, later’ whether in Goodie playing fetch, in personal financial planning or other life experiences.
One ball never seems to be ‘enough’ for Goodie (regardless of frustration) nor is enough seem to ever be enough for us in personal financial planning or life in general as if ‘there’s got to be more.’
MoreOnic behavior.
So we sacrifice what we need for what we don’t need.
Why do entrepreneurs make it lose it make it lose it – ad infinitum -despite advice to become independent of their independent businesses by having ‘enough’ in diversified passive protected assets regardless of their entrepreneurial ups and downs?
The question is why?
Having enough would cause an assessment of finding meaning IN one’s life?
More is hard wired and reinforced culturally to become habitual?
More validates in an external comparative sense to others?
More diverts, deflects from dealing with fear of extinction (which most identify as their physical body) while palliating through acquisition?
When Ben Franklin rhetorically asked ‘what is rich?’ and answered himself with ‘he is who is content,’ followed with the question, ‘who is that?’ and answered himself, ‘nobody!’
And so, again today, in attempting to secure both balls in her mouth, Goodie paws, pushes, and bats to no avail – and neither ball is secure in her mouth.
Yes, more than a mouthful is a waste.
Monday, November 14, 2011
The New American Scheme Dream: Sodom & GaMOREah – More & Without Risk (Payment or Loss)
The New American Scheme Dream: Sodom & GaMOREah –
More & Without Risk (Payment or Loss)
“I’m a conservative investor. All I seek is 15% after inflation with no risk”
Actual Statement by A Then Fortune 1000 Chairman of the Board in the ‘90’s
It hasn’t changed.
On one hand, more, more, more (or you are less, less, less) is the siren call of our culture while, on the other hand, while we want more, more, more to be riskless (thus giving rise to the phenomenal growth litigation industry).
Ironically, I now append the motto more, better, now becomes less, worse, later to ‘more, better, now, without risk becomes less, worse, later, and loss.’
When Ben Franklin rhetorically asked ‘what is rich?’ and answered himself with ‘he is who is content,’ followed with the question, ‘who is that?’ and answered himself, ‘nobody!’
There is never ‘enough.’
Now it’s keep the profits private and socialize the risks (offing the risks to taxpayers) for banks; walk away from home loans and student loans individually playing the victim card rather than ‘manning up’ (1) and offing the risks to taxpayers.
Defaulting and bailouts are the same: the disintegration of responsibility as a virtue justified as social justice or for fear of systemic risk – but avoidance of accountability and payment just the same.
Heads I win – tails everyone else loses and pays ‘for me.’
This MOREonic behavior – has become normative.
The ‘Cultural Imperialism’: More, Riskless sans Responsibility.
Sodom & GaMOREah
(1) ‘manning up’ has become a perjorative in this politically correct nonetheless victim vulture culture society
More & Without Risk (Payment or Loss)
“I’m a conservative investor. All I seek is 15% after inflation with no risk”
Actual Statement by A Then Fortune 1000 Chairman of the Board in the ‘90’s
It hasn’t changed.
On one hand, more, more, more (or you are less, less, less) is the siren call of our culture while, on the other hand, while we want more, more, more to be riskless (thus giving rise to the phenomenal growth litigation industry).
Ironically, I now append the motto more, better, now becomes less, worse, later to ‘more, better, now, without risk becomes less, worse, later, and loss.’
When Ben Franklin rhetorically asked ‘what is rich?’ and answered himself with ‘he is who is content,’ followed with the question, ‘who is that?’ and answered himself, ‘nobody!’
There is never ‘enough.’
Now it’s keep the profits private and socialize the risks (offing the risks to taxpayers) for banks; walk away from home loans and student loans individually playing the victim card rather than ‘manning up’ (1) and offing the risks to taxpayers.
Defaulting and bailouts are the same: the disintegration of responsibility as a virtue justified as social justice or for fear of systemic risk – but avoidance of accountability and payment just the same.
Heads I win – tails everyone else loses and pays ‘for me.’
This MOREonic behavior – has become normative.
The ‘Cultural Imperialism’: More, Riskless sans Responsibility.
Sodom & GaMOREah
(1) ‘manning up’ has become a perjorative in this politically correct nonetheless victim vulture culture society
Wednesday, November 2, 2011
More, Enough & Lack
More, Enough & Lack
Lack – survive (seeking externals to fulfill - never ending more)
More – strive (never ending comparative Hamster Wheel)
Enough – arrive & thrive (internal development of one’s portion – scoreboard internal)
Lack – survive (seeking externals to fulfill - never ending more)
More – strive (never ending comparative Hamster Wheel)
Enough – arrive & thrive (internal development of one’s portion – scoreboard internal)
Self Worthiness, Unequal Incomes (Income Disparity & Envy (Coveting
Self Worthiness, Unequal Incomes (Income Disparity & Envy (Coveting)
First, let’s stipulate: Capitalism produces unequal distribution of income
Secondly, regardless of excesses, no other economic system to date has produced the widespread prosperity of capitalism and it’s unequal distribution of income and resulting wealth.
Third, one principle America was founded on was to create an aristocracy of merit which in the negative was against an aristocracy based on birth (hereditary privilege).
And fourth, for capitalism to work there must be equality of opportunity – not equality of outcomes -which requires not only a level playing field for competition, and the rule of law but transparency.
Fifth, there has been remarkable abuses by the parasitic banks, investment banks whereby they leveraged 30-40:1 and got bailed out keeping the profits private and the risk socialized. Yet, there is no admission of primary culpability by the host predatory borrowers and their enablers (who made NINJAs – no income, no jobs, no assets) out of them (overwhelmingly Democrats/Fannie Mae) that THERE IS NO PARASITE WITHOUT A HOST.
Sixth, when, there is no skin in the game, be it the profits are private and the risk is socialized or no money or low money down mortgages – there is no buy in only abuse. Per Genesis ‘to be counted’ (and not just in the census literally) everyone – have, have not, have a little want some more – had to pay a ½ shekel.
Finally, while one can argue the excesses and abuses, let us not defeat the better for the perfect (which doesn’t exist). There are only ‘better’ tradeoffs rather than absolute solutions.
The above said, 1% pay 40% of the taxes, 53% pay all the income taxes, and the 47% pay who pay no federal income taxes - who have ‘no skin in the game’ are bitching about ‘income disparity’
What is at the bottom of the resentment?
MONEY EQUALS SELF WORTH.
More Money Equals More Worthiness (SUPERIORITY); Less Money Equals Less Worthiness (INFERIORITY).
Let me elucidate on the dualistic thinking that is pervasive through our culture proving that more is good, therefore less is bad – and by extrapolation, he who has more is worthwhile and he who has less is not comparatively worthwhile or worse ‘worthless’ which leads to envy, theft (redistribution of wealth – a synonym) is rationalized by victimization and euphemized as social justice, entitlement, and or rights
If we are useful, of service, functional, we are right. Today’s currency is being right and not being wrong. If we do what is useful, we are right (we get an and we are right even righteous (originally, right use ness). If we are right – we get ‘more’ otherwise we get less. If we get more, we are better; if not, we are worse. If we are better we are winners – otherwise losers. If we are winners we are worthy (not worthless). And we are worthy, we are good which is just one ‘o’ away from God.
It is no coincidence, therefore, that assets less liabilities is referred to as Net Worth – Net Worthiness. And the ‘more’ Net Worth – the ‘more’ Worthy (the less net worth – the more worthless comparatively!)
Therefore in order not to be wrong, less, bad, losers and worthless – theft/ larcency/redistribution – become legitimate renamed as ‘entitlement, rights, and (the be all end all of motherhood facockta rationalizations) ‘social justice.’
As a result, we should get, by hook or crook (least I be redundant – social justice, redistribution, entitlement, rights) MORE (SUPERIOR)otherwise we are LESS and WORTHLESS (INFERIOR) comparatively.
When all the ‘good reasons’ (abuse, excesses by the parasites but no culpability of the hosts) are exhausted – the real reason behind the theme of income disparity is lack of comparative SELF WORTH rationalizing theft so ‘we are not LESS.’
Ironically, the parasites and the hosts are both MONEY GRUBBERS defining their worthiness by MORE or LESS, the former by the legalized larceny spin words ‘entitlement, rights, victimhood and social justice’ the latter by keeping the profits private and the risk socialized
If anything, the Occupy Wall Street should be Occupying:
• Barney Franks, Chris Dodds’ & Andrew Cuomo’s home
• Fannie Mae & Freddie Mac
• Colleges (who raise tuition 300%+ over the consumer price index)
You can’t change parasites but you can, first drain the incentives of the host, and secondly change the cage of the parasites. In particular:
• 20% down minimum on houses – period. (Does anyone believe we would have had these crazy overleveraged financial shenanigans were it not the NINJA subprime financing enabled by “Our Bettors” Dodds, Franks, Cumos’s etc?
• End tenure and go to contracts at Universities as well as go charter and or voucher for K-12 to put merit back into the system versus whining forever bitching and moaning we need more money as we continually get more for less and more student debt
• End revolving doors in Washington such that elected officials and staffs (nor their immediate families) can go to work for those whom they regulate for 5 years.
• Stop socializing the risk and keeping private the profits by increasing banks’ capital requirements lowering leverage.
• Keep estate taxes after both spouses pass. Inheritance is affirmative action for the rich. Being a member of the lucky sperm club doesn’t create jobs and violates meritocracy
• Taxation should be changed to a flat tax or a consumption tax with a negative income tax component (getting the federal government out of being the Nanny and reducing the bureaucracy telling those in need how and what to spend their money on.)
• End double/triple taxation as given demographic changes (88 million pulling money out of passive investments) the stimulation should be capital formation to create jobs and thriving passive investments given the demographics.
In the end, however, envy is envy is envy and coveting is coveting is coveting and More doesn’t define Worthiness (SUPERIORITY) unless one believes it does.
First, let’s stipulate: Capitalism produces unequal distribution of income
Secondly, regardless of excesses, no other economic system to date has produced the widespread prosperity of capitalism and it’s unequal distribution of income and resulting wealth.
Third, one principle America was founded on was to create an aristocracy of merit which in the negative was against an aristocracy based on birth (hereditary privilege).
And fourth, for capitalism to work there must be equality of opportunity – not equality of outcomes -which requires not only a level playing field for competition, and the rule of law but transparency.
Fifth, there has been remarkable abuses by the parasitic banks, investment banks whereby they leveraged 30-40:1 and got bailed out keeping the profits private and the risk socialized. Yet, there is no admission of primary culpability by the host predatory borrowers and their enablers (who made NINJAs – no income, no jobs, no assets) out of them (overwhelmingly Democrats/Fannie Mae) that THERE IS NO PARASITE WITHOUT A HOST.
Sixth, when, there is no skin in the game, be it the profits are private and the risk is socialized or no money or low money down mortgages – there is no buy in only abuse. Per Genesis ‘to be counted’ (and not just in the census literally) everyone – have, have not, have a little want some more – had to pay a ½ shekel.
Finally, while one can argue the excesses and abuses, let us not defeat the better for the perfect (which doesn’t exist). There are only ‘better’ tradeoffs rather than absolute solutions.
The above said, 1% pay 40% of the taxes, 53% pay all the income taxes, and the 47% pay who pay no federal income taxes - who have ‘no skin in the game’ are bitching about ‘income disparity’
What is at the bottom of the resentment?
MONEY EQUALS SELF WORTH.
More Money Equals More Worthiness (SUPERIORITY); Less Money Equals Less Worthiness (INFERIORITY).
Let me elucidate on the dualistic thinking that is pervasive through our culture proving that more is good, therefore less is bad – and by extrapolation, he who has more is worthwhile and he who has less is not comparatively worthwhile or worse ‘worthless’ which leads to envy, theft (redistribution of wealth – a synonym) is rationalized by victimization and euphemized as social justice, entitlement, and or rights
If we are useful, of service, functional, we are right. Today’s currency is being right and not being wrong. If we do what is useful, we are right (we get an and we are right even righteous (originally, right use ness). If we are right – we get ‘more’ otherwise we get less. If we get more, we are better; if not, we are worse. If we are better we are winners – otherwise losers. If we are winners we are worthy (not worthless). And we are worthy, we are good which is just one ‘o’ away from God.
It is no coincidence, therefore, that assets less liabilities is referred to as Net Worth – Net Worthiness. And the ‘more’ Net Worth – the ‘more’ Worthy (the less net worth – the more worthless comparatively!)
Therefore in order not to be wrong, less, bad, losers and worthless – theft/ larcency/redistribution – become legitimate renamed as ‘entitlement, rights, and (the be all end all of motherhood facockta rationalizations) ‘social justice.’
As a result, we should get, by hook or crook (least I be redundant – social justice, redistribution, entitlement, rights) MORE (SUPERIOR)otherwise we are LESS and WORTHLESS (INFERIOR) comparatively.
When all the ‘good reasons’ (abuse, excesses by the parasites but no culpability of the hosts) are exhausted – the real reason behind the theme of income disparity is lack of comparative SELF WORTH rationalizing theft so ‘we are not LESS.’
Ironically, the parasites and the hosts are both MONEY GRUBBERS defining their worthiness by MORE or LESS, the former by the legalized larceny spin words ‘entitlement, rights, victimhood and social justice’ the latter by keeping the profits private and the risk socialized
If anything, the Occupy Wall Street should be Occupying:
• Barney Franks, Chris Dodds’ & Andrew Cuomo’s home
• Fannie Mae & Freddie Mac
• Colleges (who raise tuition 300%+ over the consumer price index)
You can’t change parasites but you can, first drain the incentives of the host, and secondly change the cage of the parasites. In particular:
• 20% down minimum on houses – period. (Does anyone believe we would have had these crazy overleveraged financial shenanigans were it not the NINJA subprime financing enabled by “Our Bettors” Dodds, Franks, Cumos’s etc?
• End tenure and go to contracts at Universities as well as go charter and or voucher for K-12 to put merit back into the system versus whining forever bitching and moaning we need more money as we continually get more for less and more student debt
• End revolving doors in Washington such that elected officials and staffs (nor their immediate families) can go to work for those whom they regulate for 5 years.
• Stop socializing the risk and keeping private the profits by increasing banks’ capital requirements lowering leverage.
• Keep estate taxes after both spouses pass. Inheritance is affirmative action for the rich. Being a member of the lucky sperm club doesn’t create jobs and violates meritocracy
• Taxation should be changed to a flat tax or a consumption tax with a negative income tax component (getting the federal government out of being the Nanny and reducing the bureaucracy telling those in need how and what to spend their money on.)
• End double/triple taxation as given demographic changes (88 million pulling money out of passive investments) the stimulation should be capital formation to create jobs and thriving passive investments given the demographics.
In the end, however, envy is envy is envy and coveting is coveting is coveting and More doesn’t define Worthiness (SUPERIORITY) unless one believes it does.
Monday, October 17, 2011
From My Forthcoming Book: (Inner) Journeys with Goodie: Wanting What You Have & Conniving
(Inner) Journeys with Goodie: Wanting What You Have & Conniving
He who knows he has enough is rich – Tao Te Ching
Finally, I got a bedroom (maybe 10’ by 15’) that I didn’t have to share with my brother in our small row house. Still, if our neighbors Terry and David were fighting I could hear the muffled yelling through the common wall – but I didn’t care, I had my own room.
Now I live effectively in the largest doghouse (Bet Kelev – The House of Dog) in Colorado at the mercy of three standard poodles (who think they hold a first by their mere presence), frustrated that I can’t find room on my bookshelves for another unread book, I forget that 10 by 15 room.
Others have told me stories of scrimping and saving to have that Friday afternoon ice cream soda with their insignificant other when struggling and now gvetch about the wonderful house with kitchen granite tops they live in – fully paid off – forgetting the formica counter top of old.
What we came from becomes merely nostalgia rather than today remembered in gratitude.
It seems there is ‘never enough.’
Yet, never enough is the hamster wheel, wanting what you have that’s the cheese (though there is never enough cheese – in particular – Monterey Colby – for Her Royal Highness).
Given Elle’s cancer and both Moses’ and Goodie’s brushes with death this year alone, each day additional day with them reminds me of ‘what’ is enough and to ‘want what I have’ putting the book mischagass (craziness) in perspective.
Wise guy Goodie hasn’t yet gotten this message of ‘enough.’
At fetch, Goodie still hasn’t given up on getting two tennis balls into her mouth even if at she loses the ball already in her mouth to an ever waiting Elle.
More, better, now becomes less, worse & later and that is the “less”on.
Regardless, this doesn’t deter my Goodness Gracious Goodie the AKC ‘Best in Class’ Conniver Schemer for ‘more.’
Goodie’s food portion (cooked or prepared tar tar served with a waiter’s cloth napkin adorning my forearm) seems to never be enough. (You’d think she was another scamp from the cast of Oliver singing ‘More’). Thus, if I’m not looking, she goes for anything left over in Elle’s or Moses’ bowl or worse and I go in the other room – she’s counter cruising.
And when caught, she just licks her lips, gives that Eddie Haskell smirk as if threatening to call social services or Jerry Springer.
Fetch, food, wrestle – it’s not enough for Goodie.
She’ll learn.
‘More’ than I can say for the human condition.
“Who is rich? He that rejoices in his portion”
Talmud
He who knows he has enough is rich – Tao Te Ching
Finally, I got a bedroom (maybe 10’ by 15’) that I didn’t have to share with my brother in our small row house. Still, if our neighbors Terry and David were fighting I could hear the muffled yelling through the common wall – but I didn’t care, I had my own room.
Now I live effectively in the largest doghouse (Bet Kelev – The House of Dog) in Colorado at the mercy of three standard poodles (who think they hold a first by their mere presence), frustrated that I can’t find room on my bookshelves for another unread book, I forget that 10 by 15 room.
Others have told me stories of scrimping and saving to have that Friday afternoon ice cream soda with their insignificant other when struggling and now gvetch about the wonderful house with kitchen granite tops they live in – fully paid off – forgetting the formica counter top of old.
What we came from becomes merely nostalgia rather than today remembered in gratitude.
It seems there is ‘never enough.’
Yet, never enough is the hamster wheel, wanting what you have that’s the cheese (though there is never enough cheese – in particular – Monterey Colby – for Her Royal Highness).
Given Elle’s cancer and both Moses’ and Goodie’s brushes with death this year alone, each day additional day with them reminds me of ‘what’ is enough and to ‘want what I have’ putting the book mischagass (craziness) in perspective.
Wise guy Goodie hasn’t yet gotten this message of ‘enough.’
At fetch, Goodie still hasn’t given up on getting two tennis balls into her mouth even if at she loses the ball already in her mouth to an ever waiting Elle.
More, better, now becomes less, worse & later and that is the “less”on.
Regardless, this doesn’t deter my Goodness Gracious Goodie the AKC ‘Best in Class’ Conniver Schemer for ‘more.’
Goodie’s food portion (cooked or prepared tar tar served with a waiter’s cloth napkin adorning my forearm) seems to never be enough. (You’d think she was another scamp from the cast of Oliver singing ‘More’). Thus, if I’m not looking, she goes for anything left over in Elle’s or Moses’ bowl or worse and I go in the other room – she’s counter cruising.
And when caught, she just licks her lips, gives that Eddie Haskell smirk as if threatening to call social services or Jerry Springer.
Fetch, food, wrestle – it’s not enough for Goodie.
She’ll learn.
‘More’ than I can say for the human condition.
“Who is rich? He that rejoices in his portion”
Talmud
Friday, October 7, 2011
Long Term Care Coverage: Reducing Cost & Increasing Coverage
Long Term Care Coverage: Reducing Cost & Increasing Coverage
The insurance industry is minor league preparation for government employment. (Instead of hoarding Oxycotin to commit suicide, just stand outside a major insurer’s headquarters at 4:20 PM in the afternoon and by 4:30 PM you’ll be stampeded to death).
The insurance industry never been accused of being a bastion of innovation. (Actuaries, some say, are accountants without personalities). Due to patent structural barriers to trade, if anything, the industry has encouraged theft of the little innovation that has occurred without recourse. The larger insurers just take the second bite of the apple knocking off the smaller insurer’s innovation and plays chicken daring the innovator to sue with the threat of deep pocketing them.
So the suggestion below relative to matching needed long term care coverage with reducing the ever escalating costs long term costs (only rivaled by higher education cost theft and health insurance inflation) will probably go on deaf stampeding ears. And the suggestion below assume continuation of the same failed long term care model of care which in itself is unsustainable.
Background
In the late 80’s the geniuses in the life insurance business to reduce premiums engaged in a practice called lapse supported premiums. Lapse supported premiums are akin to a Tontine (an investment or insurance plan in which contributors pay equal amounts into a common fund and receive equal dividends and benefits from it, with the final surviving contributor receiving everything). Thus, in the life insurance tontine, the surviving policyholders reap all the benefits of the premiums and dividends forfeited by the lapsing policyholders.
Given that up to 70% of all ‘permanent’ life insurance is gone by the 10th year, for those who stick it out – dividends just magically increased (lowering the comparative premium costs for competitive comparison sake.
Well, the brilliant actuaries did lapse supported pricing on long term care. But insured didn’t lapse but nursing home and at home care costs skyrocketed. (And they say actuarial is a science!)
No wonder so many entered and exited long term care. Yet, the insurers, having learned their lesson from pricing disability insurance on a guaranteed price and renewal basis, issued long term care guaranteed renewal but the price was not guaranteed. (And they still are eating their lunch but at least not canabolizing themselves as they can raise premiums)
Result – long term care premiums have gone out of sight – where life time coverage for most is unaffordable.
Reframing The Problem and Reinventing The Long Term Care Policy
10,000 deaths is a statistic; 1 death is a tragedy
Stalin
Everybody wants to go to heaven but nobody wants to die
Comedian Timmie Rogers
National Nursing Home 1999 Survey: According to the data the average length of stay for current residents is 2.44 years and for discharged residents is 272 days.
The length of stay in nursing homes as long as 3 years was 5% of women and 3% of men or 97% of men and 95% of women were in nursing homes less than 3 years.
However, in National Nursing Home Survey, the cognitive impairment among the 65+ age population was 40%. Assuming even 100% of those in nursing homes are 65 and older (it is less) and 40% of those in more than 3 years (1.2% of males and 2% of females) are likely to have cognitive disorder.
So given these probabilities and escalating nursing home costs 300%-400% of consumer price index, would it not make more sense to offer 3, 5 or 7 year policies but with a lifetime rider for cognitive impairment? The underwriting would rate the cognitive impairment rider based on family history (Alzheimers etc.)
Accordingly, overall cost for LTC would come down as exposure to claims (other than cognitive) would be for a shorter duration matching probabilities BUT allowing for lifetime on cognitive.
Of course, the probability of being stampeded to death 4:20PM in front of an insurer’s home office is 10,000% higher than adoption of the aforementioned policy suggested.
The insurance industry is minor league preparation for government employment. (Instead of hoarding Oxycotin to commit suicide, just stand outside a major insurer’s headquarters at 4:20 PM in the afternoon and by 4:30 PM you’ll be stampeded to death).
The insurance industry never been accused of being a bastion of innovation. (Actuaries, some say, are accountants without personalities). Due to patent structural barriers to trade, if anything, the industry has encouraged theft of the little innovation that has occurred without recourse. The larger insurers just take the second bite of the apple knocking off the smaller insurer’s innovation and plays chicken daring the innovator to sue with the threat of deep pocketing them.
So the suggestion below relative to matching needed long term care coverage with reducing the ever escalating costs long term costs (only rivaled by higher education cost theft and health insurance inflation) will probably go on deaf stampeding ears. And the suggestion below assume continuation of the same failed long term care model of care which in itself is unsustainable.
Background
In the late 80’s the geniuses in the life insurance business to reduce premiums engaged in a practice called lapse supported premiums. Lapse supported premiums are akin to a Tontine (an investment or insurance plan in which contributors pay equal amounts into a common fund and receive equal dividends and benefits from it, with the final surviving contributor receiving everything). Thus, in the life insurance tontine, the surviving policyholders reap all the benefits of the premiums and dividends forfeited by the lapsing policyholders.
Given that up to 70% of all ‘permanent’ life insurance is gone by the 10th year, for those who stick it out – dividends just magically increased (lowering the comparative premium costs for competitive comparison sake.
Well, the brilliant actuaries did lapse supported pricing on long term care. But insured didn’t lapse but nursing home and at home care costs skyrocketed. (And they say actuarial is a science!)
No wonder so many entered and exited long term care. Yet, the insurers, having learned their lesson from pricing disability insurance on a guaranteed price and renewal basis, issued long term care guaranteed renewal but the price was not guaranteed. (And they still are eating their lunch but at least not canabolizing themselves as they can raise premiums)
Result – long term care premiums have gone out of sight – where life time coverage for most is unaffordable.
Reframing The Problem and Reinventing The Long Term Care Policy
10,000 deaths is a statistic; 1 death is a tragedy
Stalin
Everybody wants to go to heaven but nobody wants to die
Comedian Timmie Rogers
National Nursing Home 1999 Survey: According to the data the average length of stay for current residents is 2.44 years and for discharged residents is 272 days.
The length of stay in nursing homes as long as 3 years was 5% of women and 3% of men or 97% of men and 95% of women were in nursing homes less than 3 years.
However, in National Nursing Home Survey, the cognitive impairment among the 65+ age population was 40%. Assuming even 100% of those in nursing homes are 65 and older (it is less) and 40% of those in more than 3 years (1.2% of males and 2% of females) are likely to have cognitive disorder.
So given these probabilities and escalating nursing home costs 300%-400% of consumer price index, would it not make more sense to offer 3, 5 or 7 year policies but with a lifetime rider for cognitive impairment? The underwriting would rate the cognitive impairment rider based on family history (Alzheimers etc.)
Accordingly, overall cost for LTC would come down as exposure to claims (other than cognitive) would be for a shorter duration matching probabilities BUT allowing for lifetime on cognitive.
Of course, the probability of being stampeded to death 4:20PM in front of an insurer’s home office is 10,000% higher than adoption of the aforementioned policy suggested.
Subscribe to:
Posts (Atom)