Posted on 09/11/2009 7:10:58 PM PDT by Kaslin
The day after President Obama's impassioned speech for big-government health care, Wall Street bet heavily that the so-called government-insurance option he supports is dead.
In a strong stock market on Thursday — the market's fifth-straight daily rise (so much for the September swoon) — health-insurer shares advanced significantly. Cigna increased 5%, Health Net almost 5%, Humana 3.5% and UnitedHealth Group 1.5%. Hospital shares like Community Health Systems and Tenet Healthcare also rallied smartly, climbing about 5% each. Drug company Pfizer rose more than 1%.
These stocks would not have rallied if the public option looked alive. Corroborating this, the Intrade pay-to-play online betting parlor shows only a 24% probability of the government option passing by the end of this year. Also, of 17,308 respondents in a Politico poll, 38% registered thumbs-up for the president's address, while 58% said thumbs-down.
Obama's speech was not a game-changer. Good delivery, bad product. And at the top of the list, the new government-insurance option, which surely is a gate-opener for the government takeover of the entire health care sector, is a clunker. The public doesn't like it. Moderate and conservative Democrats don't like it. Republicans can't stand it. And Wall Street doesn't want it. Hence, the Dow's 80-point rally the day after the speech.
(Excerpt) Read more at ibdeditorials.com ...
From Kudlow’s keyboard to God’s ear.
How about a more honest, practical proposal, such as a 5 year trial run of a government run, non-profit "option"?
Prove it can be done, with equivalent or better overall care, being more affordable too --- and both individuals & corporations would sign up for it in droves.
Otherwise, forcing people to carry health insurance or some sort (though not without some semblance of logic) goes far beyond powers granted to the Federal Government by the Constition.
Insurance companies, on the other hand, love the idea of laws being written which will force everyone to buy their product, regardless of price, coverage and effectiveness. Such laws would be unconstitutional also, though the love of money widely overrides love of U.S. Constitutional priciples among the insurance company lobbyists, and such ideas as Reagan's "less Government is better" mindset.
Little did we know, Cash for Clunkers was the health care program too.
I told my wife the speech was a disaster.
Heck, when even the AP called parts of 0bama's speech "disingenuous," you know propaganda talk for, Joe Wilson nailed it. And the Communist News Networks says what?
Hahahahaha.
We have to think in terms of the absolute abysmal corruption of the democrats.
They HAVE to pass this. Otherwise the mindless spending spree comes to an end. It's a trillion dollar slush fund until the bill is implemented in four years. They'll have four years to spend every dime of that money and when the program goes active, they claim they need another trillion.
Yes. Human nature itself, continues to visibly prove that it is the great downfall of the idealist visions of "the humanists".
Bwhahaha!! Corporate America demonstrates how it makes the rules and not the Government.
Bwhahhahahaha!!! We are all slaves to someone.
How did they conclude this from Obama speech? He said the opposite.
Maybe what Kudlow means was by the reaction of the market?
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