I am a former derivatives structurer and I find annuities terrifying.
Even before [Leonard Cohen] had much of an audience, he had a distinct idea of the audience he wanted. In a letter to his publisher, he said that he was out to reach “inner-directed adolescents, lovers in all degrees of anguish, disappointed Platonists, pornography-peepers, hair-handed monks and Popists.”
No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a Grand Jury, except in cases arising in the land or naval forces, or in the Militia, when in actual service in time of War or public danger; nor shall any person be subject for the same offence to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.
All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside. No State shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any State deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.
Violent criminals tend to be impulsive, and not very good at calculating cost-benefit ratios. The economic jargon for this is “hyperbolic discounters”: they place very high weight on things that will happen in the very near future, and very low weight on things that will happen a long time from now.