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Doctor Barack Obama causes stock market to tank.
I wish to commend the national media and President Obama for their brilliant cover-up of the real reason the NYSE tanked below 7000 today. The AIG bailout was a clever ruse to dupe Americans into believing that the stock market plunge had nothing to do with Obama creating a new socialized healthcare system for Americans.
Read the real news from stock analysts and you will see that the insurance, pharmaceutical and healthcare provider stocks were the biggest losers on Wall Street today.
No one seems to want to ask the one pertinent question here. Why? Why would the takeover of one seventh of the private sector cause the stock market to plummet deeper into the abyss? Because it will be the single largest takeover of private sector jobs in WORLD history.
There are over eleven million jobs at stake in the medical industry that will become government jobs. It will be a huge takeover of private money. That money is in millions of stock portfolios around the world. That money would simply disappear from the national economy. And it will be paid for by the taxpayers of the United States of America which means even more money taken out of the economy. Wall Street understands this. Hundreds of billions of dollars would disappear overnight.
Yet the dunderheads that live in shitbox ghettos of America seem to think this would be good for our country. Why? Because the media has told them so. So we sit today watching the media show pictures of Obama at a basketball game drinking beers and blaming the stock market crash on AIG when in reality it’s a reaction by investors to the nationalization of the American medical industry.
Article below
Managed-care stocks sank even deeper than the broader market Monday, as President Barack Obama introduced his choice for health chief and talked about his view of the need to change the system.
Several health insurers saw their stock prices plummet more than 11 percent in afternoon trading, a drop that stunned some analysts following the sector. The Standard & Poor’s 500 index, by contrast, dropped less than 4 percent.
Matthew Borsch of Goldman Sachs said some insurers were approaching lows they hit in late November before rallying. He said the sell-off doesn’t seem to have a bottom.
“All I can say is I think that this is a moment of obviously extreme fear, and when the selling ends, I think you’ll see deep-value buyers jump in here,” he said. “Once that gets going, it could be another big rally.”
Obama said Kansas Gov. Kathleen Sebelius was his choice to be the next health and human services secretary. The president also picked Nancy-Ann DeParle, a health policy figure during the Clinton administration, to head the White House Office for Health Reform.
Obama described health care reform as “a necessity we have to achieve.”
Managed-care stocks also sank last week after analysts were surprised by a lower-than-expected increase in Medicare Advantage reimbursement for 2010 and after Obama unveiled a proposed budget that includes smaller Medicare Advantage payments to insurers.
Louisville, Ky.-based Humana Inc., for instance, saw its share price fall 42 percent to $23.67 during the week.
But Oppenheimer analyst Carl McDonald said in a recent note that neither Medicare cuts nor a health care reform push should have surprised anyone.
“The market is supposed to be a rational thing, but after the last five days, it’s hard to have a lot of belief in that particular theory,” he wrote in a weekend note.
Morningstar analyst Matthew Coffina said his firm’s big concern has always been whether the government’s reform push will focus on covering the uninsured or if it will compete for customers who already have coverage through their employers.
“I’m not sure the market’s really going to calm down, with respect to the managed care companies, until we get some clarity as far as exactly where health reform is going to go,” he said.
Humana shares fell nearly $3.67, or 15.5 percent, to $20.
Shares of Indianapolis-based WellPoint Inc. dropped more than 11 percent, or $3.91, to $30.01, even though Stifel Nicolaus upgraded the stock to “Buy” from “Hold.”
“We believe current operations will support, if not exceed, conservative guidance across the sector,” analyst Thomas Carroll wrote.
Coventry Health Care Inc. shares fell $2.12, or 18.4 percent, to $9.40; Aetna Inc. stock dropped $2.88, or 12.1 percent, to $20.99; WellPoint Inc. shares fell $3.82, or 11.3 percent, to $30.10; UnitedHealth Group Inc. fell $2.17, or 11 percent, to $17.48; and Cigna Corp. dropped more than $1.73, or 11 percent, to $14.03.
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