I don’t know where Aimee Picchi, the author of the article below on insurance rates, is from, but I’ll bet is wasn’t someplace where an abacus is commonly used.
Why wouldn’t we trust an article printed in such an infallible institution such as CBS News? After all, this is the mainstream media that we are all being conditioned to trust. Surely we can all believe without question that Climate Change is driving rates up by greater than 50%, right?
By my math (I’ll grant you that it’s been a long, long time since I sharpened a pencil) 41% of $3, 400 is $1,394 and would result in a rate of $4,794 not the $3,748 quoted in the article. Like wise, 38% of $3,336 is $1,268 and results in a rate of $4,604, not $3,687.
The new average rates for Maryland and South Carolina are both a little more than 10% higher than the old rates. Pretty much an anemic figure when the cost of fuel (along with pretty much everything else) has doubled.
Aimee Picchi: Uncle Jed, get a hold a yourself. I got some bad news for ya.
Jed Clampett: What is it, boy?
Aimee Picchi: I hope this ain’t gonna break your heart, but I just gotta say it.
Jed Clampett: Well come on, get it over with.
Aimee Picchi: Uncle Jed, I decided I ain’t gonna be a brain surgeon.
Jed Clampett: Well I recon I can bear up under that.