This thread just opened my eyes. I really thought Lemmy being so young would mean the average users would be pretty saavy and intelligent. Nope, same idiots as Reddit and everywhere else.
Religion
I am an atheist and I believe the world would be much better without religions. Having said that, I don’t conisder it as a scam in itslef. Instead they must have been something evolved over the time due to our ignorance, fear and helplessness. The very same factors that still keep them going.
But hell yeah, people are exploited in the name of religion. I’m from India, one of the largest so called democracies, currently under the governance of a fascist hindutva party that thrives on polarizing people in the name of religion.
BTW I was actually looking for specific instances of scams carefully plotted by known people, companies or even countries instead of broad answers like religion.
BTW I was actually looking for specific instances of scams carefully plotted by known people, companies or even countries instead of broad answers like religion.
Lesson for next time, use the text part of your post to define what you are asking or are interested in hearing. Otherwise you get everyone giving glib answers that suck like the above.
BTW, I’m reading Smartest Guys In The Room, the book about Enron, you might be interested in looking up that company. They used very complex financial instruments to deceive shareholders and Wall Street and boost their stock price. Bunch of assholes, some of the shit they pulled was obscene.
That you can get rich if you work hard.
The American healthcare system.
There’s a Tom Scott video on this, the truth behind it seems murky.
Ponzi schemes, especially the insurance companies. They really are a Ponzi scheme.
Think about it, they promise you things asking for money, then when you need their services they decide where you go, how much they will pay (leaving the rest for you to pay as a deductible), then they turn around and increase your costs for their services, that they fight tooth and nail not to pay anything.
I work in the insurance industry and I 100% agree with this.
The only time it’s wise to take out an insurance policy is when
A) It’s legally required (though this is sometimes due to lobbying by the insurance companies themselves)
B) When you absolutely will not be able to actually pay for a potential, but necessary expense by yourself (cancer treatments and stuff like that)
So Health Insurance, Auto Insurance (even if your car is cheap and self-insurable, the car you hit may not be), Home-owners insurance and stuff like that are necessary and generally a good financial bet, even if they are crooked af.
Any “micro-insurances” though? All total scams. Travel insurance, phone insurance (or “Extended Warranties”), Apple Care, all that kind of shit is 100% going to cost you more money to have than it’ll save you - unless you get really really lucky (or unlucky, depending on how you look at it). You’d be better off spending what you’d pay on those insurance premiums on a hand of blackjack, I’ll bet the odds would be slightly more in your favor that way
Travel insurance is my big one. Why would you not get that? That seems like such a stupid risk not to get that.
Like if I get hit by a car in the middle of nowhere and they got to fly my home because the medical care there sucks. That’s going to cost an absolute fortune. Even having to send my dead body home will cost my family loads.
Why would you not get that? That seems like such a stupid risk not to get that.
Pretty much for all the reasons I said in my comment - you’ll almost certainly spend more on premiums for travel insurance than you’ll ever claim (this is true of all insurance) and the expenses incurred by self-insuring are generally manageable. Even in the two situations you refer to, we’re “only” talking about costs of a few thousand, and both of those are highly unlikely events that most people go their whole lives not dealing with. you’re much better off putting the money you’d spend on that travel insurance into an emergency fund to cover those kinds of unexpected expenses.
Insurance is only a good financial call if you risk completely bankrupting yourself by not having insurance, otherwise you’re just trading potential lump sum costs for small continuous costs, and the premiums will generally always wind up being more than what you’re saving (because if they weren’t, then the Insurance companies wouldn’t be making so much money).
That being said, it’s your money, if you’d rather accept that you’re paying more over a lifetime on travel insurance than you’re saving just to have the peace of mind that you won’t have to dip into savings for any incident that happens before or during the trip (assuming your incident doesn’t fall under one of the many carefully crafted exclusions that the insurance companies add to their policies to prevent paying out, which it probably will), then by all means, buy it - but if you’re buying it because you think it’s the financially savy move, and you have at least a few grand in your bank account for emergencies, then you’re kidding yourself.
I just read a news article this week about a young Australian man on vacation in Indonesia who got in an accident. His family now face costs of around $350,000 because his insurance didn’t cover riding motorized scooters.
I think travel insurance is generally wise to have, and to be aware of what you are covered for. This is an example both of the potential costs and how if you don’t read your policy carefully they will fuck you over.
That’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears.
A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
Homeopathy, acupuncture, ozone therapy… all “alternative medicines” basically.
Once I made a joke online about paying for homeopathy by dipping a dollar in a jar of water and giving them the jar, and like five people I know unfollowed me lol
Lol yeh a surprising amount of people believe in it.
I once trained to work in pharmacies, we had companies present on their products and one of them was selling homeopathic products. One of the other students asked if it actually worked and the rep’s response was ‘if it didn’t do you think people would buy it?’ I didn’t say anything but I thought to myself yes, there absolutely are people who hand over money for dumb shit that doesn’t work lol.
Capitalism
Let’s lump organized religion in with this one.
It’s not called the opium of the masses for nothing.
