Money Supply and the Money Multiplier. Money, either in the form of currency or as bank reserves, is a liability of the central bank. The central bank controls the monetary base, expanding or contracting it at will, according to the needs of the economy.
Whole life is also more expensive because of the costs of storing and investing your premium money. Unlike term, the money that you put into your whole life policy can be borrowed from the policy if you need it. Term policies only collect enough to cover the cost of your insurance, and have no cash value.
Americans are bewildered about why health care bills are so high. Certain kinds of cancer treatments run into the hundreds of thousands of dollars; an emergency room visit can exceed the cost of an automobile; dosages of the wonder drugs we're developing will run into thousands of dollars. In almost every industry, advances in technology drive cost down. Not so in medicine. Just think, we spend 20, 30, even 100 times as much on medical products and devices as what they would cost at Walmart. This year alone, we are likely to spend over $2.8 trillion on health care. We spend more than twice as much on a per capita basis as other high-income countries such as England and France.