You said, "Obviously it had to come from some where, so you and I pay higher premiums and his clients get a little interest on their investment instead of what they could have received."
Insurance and investments are two different things, you seem to be describing them as the same thing.
No on is forced to purchase insurance.(Yet). People voluntarily enter contracts because they enjoy the peace of mind they receive for their premium payments. They have a need, (protection and peace of mind), and an insurer provides that at a price that allows them to be profitable. The client must agree that the price is fair, or not purchase then plan. Again, no one is forcing anyone to purchase that policy, the client feels it is a fair transaction.
On the investment side it's the same thing. I've never had anyone come up to me on the street, stick a gun in my ribs, and tell me to give them all my money so they can invest it for me. People freely and by choice choose to give their money to investors that they trust to make their money work for them. Are there unscrupulous people out there, sure, Bernie Madoff. But he is not the typical broker. His clients should've known the returns he was promising were too good to be true, as they turned out to be. So, as you have been fond of saying in the past, peoples' greed got the best of them. Rather than invest in safe, secure, traditional investments, they wanted to make fast easy bucks, and look what it got them. I would say the market worked in that case. People that tried to game the system got burned.
The man you pay your premiums to isn't the one selling investments. Why don't you go down to your local Mutual Fund guy and have a sit down. I bet you would find him to be honest and helpful, and you might understand all of this a little bit better.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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