Say Hello to the Hood Economy

Copy, paste and save to hard drive this outstanding article. Or print it out. Years from now, when you are bankrupt and/or on the lam from the government that is trying to force you to pay money you don't have to health insurance fat cats, this article will be needed when you want to review who exactly is responsible for the demise of your financial health and perhaps your actual health as well.

The only thing I want to add at the moment, after being treated to such an excellent and thorough review of this mess, is that for many decades, in many of the long-deprived urban "hoods," cash rules and oppressions such as government mandates to buy a worthless product mean nothing in the daily operations of the "hood economy".

I mean for example, South Chicago is not going to even begin to worry about yet another impossible to comply with and unenforceable "requirement of citizenship" added on to the already long list of "requirements" that can not be met. Like employment when there are no jobs, laugh out loud.

Specifically, no one with half a brain and an income less than roughly $30,000 in South Chicago (or South Los Angeles, or North Miami, or Central Minneapolis etc. etc.) is going to be buying $6,000-$24,000 a year individual or family health insurance policies, with the deductibles, co-pays, and exclusions adding on $5,000 to $50,000 (and possibly more) a year more, regardless of any bogus and invalid “laws", "regulations", or "subsidies". Period. End of story.

Even for incomes between $30,000 and $60,000, there will be few takers in places like South Chicago. The health insurance companies are thinking that by hiring the IRS as their collectors and enforcers, that they can capture this market segment, one that is inherently resistant to their lies and cheating of people. But the insurance fat cats are going to be schooled otherwise. I can assure Matt Taibbi (who mentions the need for a future revolt) and everyone else that there will be, among other revolts, a revolt in these areas, which ironically include Obama's original stomping ground.

The hood economy of course goes way beyond legal but unlicensed and totally illegal drug sales. There is also everything from fresh vegetable sales on street corners to charity but sometimes unlicensed health care that by definition no one knows about.

It seems inevitable, with the jobs going away and the impossible to meet government dictates piling up, that the "hood economy" will be more and more coming to your hood.