A Grandma And A CEO Walk Into A Bar.....

A grandma and a CEO walk into a bar…!

The grandma is a Democrat and the CEO is a Republican. They belly up to the bar to toast America. “Drinks on us!” As the bartender hands her a weak gin-and-tonic and him a strong double-malt scotch, he asks them: “So what do you most like about America?” They both answer: “Its welfare!” Immediately a fight breaks out in the joint.

Crazy, huh? I mean, they’re both toasting welfare, right? But that one simple word has a dozen different meanings.Take another single simple word like love. See how differently it gets used: I love scotch, I love the Yankees, I love my children, I love the mountains, I love God.

About now in America, CEOs all over the land are pointing to the collapse of the European economy. “It’s what happens when you create a giant, money-spending Welfare State that chokes off initiative and free enterprise.” Meanwhile about now, grandmas all over the land are praying to FDR and LBJ: “I’d be dead by now if they hadn’t passed welfare safety nets like Social Security, Medicare and Medicaid.”

Just then an insurance agent walks in. He orders a shot-and-a-beer explaining to the mob: “Settle down, you silly bastards, and check those insurance policies I sold you.” What’s insurance got to do with anything? “Just this. Since the beginning of time, strong healthy people have been willing to pool their money today just in case someday they’ll need it. Not everyone needs it at the same time, but eventually everyone will. You gave me your money, told me to hold it until the right time.”

“Only difference here is, grandma needs her money now. The big guy will need it later. Not really such a bad bet, now is it?” They started thinking about that. They’ve got until November to decide.

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  • In the case of Europe, some Afro-Swede on Chicago Now argued that the cost in taxes probably are not out of line from what the private insurers suck out of our pocketbooks here.

    The inherent problem in Greece is that one cannot keep borrowing to finance welfare schemes until you can't pay it back. Greece can stiff the banks by going back to the drachma. The inherent problem in Illinois is the same, except, as a result of Article I section 10 of the U.S. Constitution, it may not coin money. Hence, it has to pay its debts in dollars, gold, or silver, none of which it has in sufficient quantity.

    As far as insurance, Williston (of On Contracts) has always said that it was an aleatory contract, i.e. dependent on risks on which the insurers are willing to take premiums but disclaim risks. While he was talking about life insurance about 90 to 100 years ago, there is a similar discussion on Steve Dale's Pet World, where he is promoting some pet insurance company, but I point out this principle, and some dog owner then pointed out how that company got out of paying. So, insurance is sort of debatable security. Similarly, State Farm pulled the ad where the one headlight robot destroyed Duane's house and car. I predict that if that claim ever arose, either State Farm would say that the risk of damage by robot was not covered, or due to the infestation of robots in that state, might pay the claim but then pull out.

  • In reply to jack:

    Jack ~ You sound like your know your insurance. I know my welfare (ie. Medicare). Although over-simplifying a complex subject, I'm with grandma...

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