Belmont Club

By Richard Fernandez

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Reasonably sober

February 3, 2009 - 1:56 pm - by Richard Fernandez
buddy larsen
2009-02-04 00:09:25

…since the Democratic Party IS the party of lawyers, you could say that we are f***ed

Most small service businesses’ 2nd highest expense (after wages & salaries) is insurance, often amounting to 25% of total. A great fraction of this is to protect against the tort bar, which has put the nation’s entrepreneurs not in a position of being safety minded, but in the position of having to think of every conceivable opening the biz has to any criminal mind with plenty of time to study the operation (much like a walker in rattlesnake country has to study every stone or shrub or shadow for a waiting & nearly invisible viper).

Because of the tort bar’s seemingly (but really not) adversarial relationship with the insurance industry, that industry’s fraction of speculative investment portfolio, due in some large part to the very tort problem that in effect underwrites that portfolio, largely ignores venture capital for small business (heavens, small biz is just so exposed to failure) instead to chase leverage, and help thereby to pump up financial bubbles instead of helping create the growth and new jobs made unaffordable by such (what amounts to) extortion by rent-seekers who’ve had some laws drafted while the hicks were busy getting their hands dirty producing society’s real wealth.

So the whole main street & farm economic machine just does less work with fewer people, the opportunity cost of the tort parasite being blue sky and never quantified in a way to educate Joe and Jill about the heritage robbery, and with that, build the groundswell political defense needed to cut it back down to rightful size –say, relative to about 1940 or so, when a judge & community would and could throw thieves out of their courtrooms with the conviction of a people who still knew what their rights were.