Over the past few months, I have seen an unprecedented number of doomsday rhetoric in the trade and mainstream media.
SECs 151A spells an end to the independent distribution channel. PPACA spells an end to the independent health insurance agent, to long term care insurance, to Medicare Advantage.
(OK, that last one, about Medicare, was ours.)
When you take a step back and look at the big picture not just in the insurance industry, but as a whole things look even worse. While were not yet technically in a double dip recession, we appear to be headed in that direction. The modest job growth we saw this past spring seemed to be a product of 411,000 temporary Census positions. According to a July 2post on Time magazine’s Curious Capitalist blog, 1 million Americans simply stopped looking for jobs in June, removing them from the unemployment rolls, but not from unemployment. Consumer confidence is dropping at the fastest rate in 15 years. Housing prices started to recover, then slumped again.
Phew! I want to take a nap just thinking about all of it.