Fromn Barry Ritholtz, a funny and surprisingly plausible way to pay for national health coverage in the US:
1. Set up a large, well capitalized hedge fund. About $5B should do it.
How to Pay for National Health Insurance
2. The prospectus of the fund should note its purpose is to “Seek out profit opportunities via arbitraging inefficiencies in the markets and health care system of the United States.” Include standard “Socially Conscious” fund language in clauses such as Do well by doing good.
3. Launch the fund – and promptly max out your leverage. Today’s environment makes it difficult to go 50 to 1, but getting 10 or 20 to 1 should not be much problem.
4. Use the money to write Credit Default Swaps with a notational value of $3 trillion dollars. The premia on these CDS should be about 10-15% or so.
5. Rollover the cash premiums – about $350 billion dollars worth – into a national fund. Use it to buy health care insurance for all US citizens.
6. Declare that due to current credit conditions, your unfortunately must announce to your counter-parties that you will be defaulting on these CDS. Note that significant amounts of this paper are held by JP Morgan and Citi. Another trillion is held by China and Japan, with Sovereign Wealth Funds owning the rest.
7. Send out a press release announcing “systemic risk.” Tell the Treasury Secretary and the Federal Reserve Chief that your imminent collapse will wreak global havoc. Apply for bailout.
YouTuber Die Struktur created the first rotating cat automaton that paints to musical accompaniment. Now, instead of “my kid could paint that,” idiots can say “my maneki-neko on a turntable could paint that.”
Prepare to go down a rabbit hole of modern life in this incredible video for “Bike Engine” by Stylo G x Jacob Plant.
Jeremy Leaird-Koch lovingly recreated the opening title sequence to the Netflix series Narcos, but with dogs. The result: Barkos.
If you own a dog, you’ve most likely heard of BarkBox – the monthly subscription box for dogs. What started as a simple idea to try out the subscription model on pet owners has since developed a cult following of dog lovers. If you haven’t given it a try yet, this one month free deal is the […]
With the iPhone headphone jack having gone by the wayside, we’re excited about the addition of the FRANKLIN Bluetooth Headphones in our store. These headphones are foldable so they’re easy to carry around, but most importantly, they pack impressive sound. Our biggest struggle with Bluetooth headphones is the worry of them dying at the worst moment. This pair lasts an impressive 8-10 […]
Evan Kimbrell, founder of the digital agency Sprintkick, recently released a series of online courses that feature some of the best advice we’ve come across. These courses are well worth your time, and will save you from making many typical mistakes down the line if you ever want to start your own business.With this Business […]