I have written extensively about the fact that U.S. public has severely restricted access to healthcare and other basic services, primarily because of the illusion of insurance: the fact that many people in the U.S., even when covered pro-forma by insurance contracts, have no cash to cover the massive deductibles carried by these contracts.
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Here is some recent (2018) evidence on the fact, via https://www.axios.com/newsletters/axios-markets-3c6856b0-31c2-485d-a8be-0f0b0dae267c.html/:
“AARP’s latest study tracking U.S. household savings is based on a “yes” or “no” response to the following question: “Does your household have an emergency savings account?” … A majority of respondents answered “no,” and even respondents who answered “yes” may not have a significant amount saved.”
- “…researchers note, “A broad interpretation of the question could count any plan for coping with an emergency, including borrowing from family and friends, as having an emergency savings account. Under this interpretation, even a household without savings in cash or a bank account may still answer ‘yes’ to the survey question.”
- “Fed data shows that 40% of US households would not be able to come up with $400 for an emergency expense,” Deutsche Bank Securities chief economist Torsten Sløk notes.
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