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As Small Businesses in US Face Coronavirus Doomsday, Big Insurers Say: We Can't Save You. We Won't Save You

Originally published at http://www.commondreams.org/news/2020/04/10/small-businesses-us-face-coronavirus-doomsday-big-insurers-say-we-cant-save-you-we

“Why is the money being distributed to big corporations?” Mayer said. "

Mayer, you do not know the answer?

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There will be another Great Depression ahead. Just how does this economy and the world’s economy recuperate? Trump sees it is coming and gives big corporations some tiding over cash but the little guy is on his own I guess.

Maybe somebody knows economics far better than me but just how will all these small businesses reopen as if by magic? How will they rehire employees who have taken other jobs in desperation? How does the economy return to normal after months of shutting down?

Worse still, if Trump’s reopening the economy early end’s up making things even worse, then what?

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The insurance industry in the US is the largest in the world in terms of revenue. Since 2011, the annual revenue exceeded the $1,2 trillion mark. ‘We can’t save you, we won’t save you’ is just another example that exploitative Capitalism is the real problem in this country. Aside from our fascist leadership…

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Insurance will never save America. It will merely lull those addicted to Duopoly politics into staying on the D and R teams for the rest of their pathetically uninformed lives.

I apologize for saying the brutal truth, in my opinion.

I don’t mean to place blame, only awaken the sleeping.

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Main Street will become Monopoly Street. It will host only WalMart, Target, Safeway, Albertson’s, 7/11, DairyMart, Exxon-Mobil, Shell, McDonald’s, Taco Bell, Home Depot, and a few other predatory corporate monopolies. These monopolies will be free to jack their prices through the roof, fire half their employees, reduce their remaining employees to minimum wage, eliminate customer service (and replace it with armed security guards who earn minimum wages), make customers wait in line for hours, and sell nothing but overpriced garbage. Competition will be wiped out and customers will become hostages to monopoly barons. Gosh, ain’t the Randian Libertarian Neoliberal Free Market great? Hurray! At last, everyone will be free! Freedom!! USA!! USA!! USA!! USA!!

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You just maybe right, sad but true.

Am wondering how local small business networks like BALLE are faring, though probably too early to say.

My guess is that those local businesses that have developed robust, supportive networks have a greater chance of survival than those that don’t.

Given that the traditional mechanisms of support for small businesses like banks and insurance companies don’t seem interested in continuing taking on those responsibilities, we need other mechanisms like Local Living Economies and means of mutual support.

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LOL
Everyone should know the answer to that especially those of us who are self employed.

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It’s already that way in the larger cities. Makes for a really boring city. Bisbee, AZ: the town the corporations have been unable to ruin.

Some may have the cash reserves to tide them over but my guess is that, like most of America, they do not. America for decades has promoted lifestyles of excess to the point of always living on the financial edge for both individuals and corporations. History tells us this is a risky and stressful way to live; always in debt and terrified of what happens when you miss a paycheck. Sadly most Americans are poor students of history.

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Humans survived for milennia before we created (both out of thin air) the concept of insurance and then the concept of the corporation to facilitate that task. How did our ancestors survive without insurance?

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Get outta here.

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The biggest building in almost every city is either insurance or a jail.

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Wait a second, I thought we were a Capitalist economy? I mean, what self respecting Capitalist would take free money from a (gasp!) government in order to stay in business. My god! That’s just socialism! It’ll turn everybody into big government dependent lazy slobs.
I say no bailouts for anybody. The only way the most of us will give up on this horrible economic construct of capitalism is after we see it crash and burn. We’re all 12 steppers now. Only after we hit rock bottom will we change. And of course, the first step towards healing is admitting you have a problem.
We have a problem.

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This is akin to rats leaving a sinking ship. The insurers are in fact cutting their own throats and this will be followed by them not only refusing to help these business owners but asking the US Government for handouts when they themselves face collapse.

A lot of these small businesses will go under. Others will simply see no reason to buy insurance in the future if the Insurance companies are going to change policy so certain things no longer covered. This latter with floods and fires rampant due to Climate change happens more and more. If these businesses go under and or refuse to buy insurance , those insurance companies will rely on an ever smaller pool of those that remain insured for revenues. This in turn will drive insurance premiums up and more small businesses will drop out.

The end result? Insurers will be begging the Government for help. More and more of the Corporations will survive based only on Government monies even as they claim the “free market” needs to be protected.

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I think any business that’s been denied on an interruption claim ought to sue the insurer for return of premiums.

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As per Bernays in his book on propaganda.

Capitalism does not function based upon providing the things people need. Capitalism is about creating a need for a product that is artificial.

Bernays outlined this in a chapter detailing how companies that manufactured Pianos had a problem finding enough people to buy them. So what they did is influenced builders making new homes to add what they called “A Music room” or even just change the name of a room in a new home to “The Music room” . The homeowner would then be encouraged to buy a Piano even if they had no interest in one because “you have a music room and you might as well use it”

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It is time to start the revolution, comrades

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Your opinion is quite well-founded, imho. The basic theory of insurance posits a larger class of unharmed insured people, in a position to help out unfortunate victims of chance accidents. Insurance doesn’t even theoretically apply to many of the things it gets slapped onto in our system, like a quick poster-sniper job, with plenty of paste slathered over to hold it there.