Jason HartmanCEO of Empowered Investor and Real Estate Tools

Exposing California's Incompetent Government!

Name: Exposing California's Incompetent Government!
Uploaded: 2025-01-16T19:18:56+00:00
Duration: 59 s
Channel: Jason Hartman
Description: In this monologue, the speaker argues that California's prohibition on insurance companies raising rates forced insurers to stop renewing policies…

16 Jan 2025 · 1 min

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In this monologue, the speaker argues that California's prohibition on insurance companies raising rates forced insurers to stop renewing policies, effectively canceling coverage for many consumers. He draws a parallel to Zimbabwe's historical price‑control measures, claiming that such controls inevitably create shortages. By equating the two, the speaker blames the California government’s “infinite stupidity” for the insurance market failure and the resulting harm to policyholders.

Chapters

There's been a lot of talk about the insurance companies that canceled all of these policies. A lot of the policies that people say were canceled were actually just not renewed and why? One of the big reasons of course is the government in California in its infinite stupidity wouldn't let insurance companies raise rates to where they needed to raise them. And of course just like in Zimbabwe when inflation was out of control. And so the government of Zimbabwe finally said well we to put a stop to this, we're simply going to tell the merchants if they're selling anything they can no longer raise prices unless we give them consent to raise the prices. So of course naturally price controls always create shortages. So the insurance company just said okay, we can't afford to do business here, we can't ensure the risk so we're going to have to just back out. So they did and they didn't renew the policies. So a lot of people really, really got hurt by that.