Market Summary
You know you are being royally screwed as a consumer following government “reform” of an industry, and then that sector sends Wall Street higher to start the week. After being up well over 100 points, the blue chips came off of their highs, as the Dow rose 85.25, or 0.8 percent, to 10,414.14. The Standard & Poor’s 500 index rose 11.58, or 1.1 percent, to 1,114.05, while the Nasdaq composite index rose 25.97, or 1.2 percent, at 2,237.66. Alcoa Inc. (AA) was the biggest gainer for the Dow as it received an upgrade from Morgan Stanley (MS) following a joint venture to build a $10.8 billion aluminum complex in Saudi Arabia.
The yield on the 10-year Treasury note was 3.68%, up from 3.55% on Friday. Investors taking their money out of fixed income safe havens and moving their funds into equities sent yields to their highest levels since August.
Crude oil declined as the January contract expired and the dollar turned higher; falling 70 cents to $73.72 a barrel on the NYMEX. Golf fell $15 per ounce to $1,096, breaking a major technical level.
The Real Winners of Healthcare Reform
The esteemed congress of the United States is on track to pass a historic $1 trillion health care bill; which is intended to actually be deficit positive based on Congressional Budget Office (CBO) estimates. There will be an individual mandate for all to purchase healthcare from the monopoly of health care providers in their state.
So here is how it goes, and it’s the reason why the healthcare sector surged in trading today. 30 million additional new customers who can get gouged by these companies because of their anti trust exemption. There is no healthcare reform in this bill whatsoever, outside of forcing people to buy coverage, and providing tax payer subsidies to those who cant afford it.
And due to the fact that healthcare providers agreed to not deny coverage based on preexisting conditions, health care premiums will increase for the rest of us to offset the higher risk of these new entrants to the pool.
Does anyone in Congress stand for the American people over the health insurance lobby?
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December 21st, 2009 at 9:39 pm
right on Dave. you tell em
December 22nd, 2009 at 5:54 pm
To answer your question, even though rhetorical it is. No, absolutely not. The congress of this country has been bribed and paid for by every single special interest lobby, and anyone with enough “campaign contribution” funds to fill a banquet hall at upwards of $1000+ a plate. Why anyone in this country even thinks for a second these low life, two faced lying scum of the earth would care one lick about an individual or a group of individuals is beyond plain stupid. Why can’t we the people rise up and revolt and take back our liberties? Does everyone feel afraid of retribution from all these govt agencies of some sort for some perceived wrongdoing that by all rights and common sense should not be a punishable offense? Either by fine or incarceration? If you are scared to act or just don’t want to draw attention to yourself for any reason then you are part of the problem and should walk in shame. This govt has no right to steal our income and to give it away to huge companies and then raise our taxes and lessen the already meager givings it does dole out. Where I live the city has gone as far as turning off the street lights at night to save money. Yet they are still installing new ones all over the place in anticipation of the royal screwing they have planned for everyone. Quit paying income taxes and they will have to change their BS ways. Learn how at losthorizons .com. It can be done legally by anyone. You just have to know how. Go there and start to actually make a difference in this once great nation. If you like so many other folks out there ask yourself “what the heck can I do? I’m just one person. What I do won’t matter. My vote doesn’t count.” Well let me tell you what. When those better than thou in Washington D.C. realize that the money spigot is getting turned off by educated people, they will have no choice but to balance the budget, quit spending beyond their means, quit taking bribes and all the other names for bribes like subsidy or kickback, and quit acting on their own beliefs and start acting upon the will of the people. Begin the ending of the worthless, corrupt politics of today and do make a change for the better of us all. Just go to losthorizons .com. I promise it is not anything religious. It is all about you and me and everyone who has ever worked to make some money, only to have the IRS shoving its way into where it doesn’t belong and stealing almost 50% of what you worked for and usually before you even got to have it in your hands. How’s that for some BS. Almost 50% of what you work for gets stolen from you before you even posess it yourself.