"It profits me but little that a vigilant authority always protects the tranquillity of my pleasures and constantly averts all dangers from my path, without my care or concern, if this same authority is the absolute master of my liberty and my life."

--Alexis de Tocqueville, Democracy in America

Monday, June 25, 2012


The Supreme Court may announce its ruling on Obamacare today.   Opinions get announced at 9:00 am.

My bet:  the Court splits the baby, holds the individual mandate unconstitutional, upholds the rest.   Then, chaos ensues, since the scheme only works if the mandate compels healthy people to pay for insurance while simultaneously compelling insurers to accept people with pre-existing conditions.   If you do the latter without the former, insurance companies go out of business, because every rational economic actor will opt to be a "free rider" without insurance (until they need it).

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