Biden Comeback Drives $48 Billion Gain for Health Insurers
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Health insurers added about $48 billion in market value and led U.S. stock market gains on Wednesday after Joe Biden’s once-faltering Democratic presidential campaign was reanimated on Super Tuesday.
The country’s largest health insurer, UnitedHealth Group Inc., increased its market capitalization by more than $20 billion in one day as Wall Street looks on a candidacy of the former vice president more favorably than that of Senator Bernie Sanders. Sanders has campaigned on the promise of Medicare-for-all, which poses a threat to private insurers.
Link to The Week synopsis of article (for those who don’t want to click on anything Bloomberg)
Link to full Bloomberg news article
"The United States is also a one-party state but, with typical American extravagance, they have two of them." -Julius Nyerere, First President of Tanzania
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March 4, 2020 at 9:08 PM #280365
an insurance company, bank, or corporation he didn’t liked.
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March 4, 2020 at 9:33 PM #280379
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March 4, 2020 at 10:11 PM #280403
My exact thought when I read that. The collective orgasm experience by insurance executives must have left quite a mess for the low-paid cleaning staff last night.
"The United States is also a one-party state but, with typical American extravagance, they have two of them." -Julius Nyerere, First President of Tanzania
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March 4, 2020 at 10:06 PM #280398
Health insurers contribute nothing to health care.
I would like to remind you that U.S. health insurance companies do not contribute anything to health care. They are only a PARASITIC middle man receiving an undeserved cut of "FREE MONEY".
Me
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March 4, 2020 at 10:26 PM #280412
The US system is totally mind-boggling to almost every Canadian I talk to. Even the few conservatives (small-c, not the far-right nutjobs) I know. My brother in Idaho, a staunch repub, will defend to the death (possibly quite literally) his right to be gouged by health insurance companies, while simultaneously complaining about how expensive his health insurance is. Yet if I mention M4A, he squawks Commie! and tells me to stay in Canada “with all the other socialists.” Weird.
Now with this latest virus, people here are completely floored by the stories we’re hearing about the cost of testing down there. Our tests, of course, are free. And according to a doctor friend in BC, that province alone has tested 4 times as many people as the entire US. I guess the 1% figure they can ride this out while price-gouging the little people.
"The United States is also a one-party state but, with typical American extravagance, they have two of them." -Julius Nyerere, First President of Tanzania
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March 5, 2020 at 2:32 AM #280612
Thank you, alcina. My friend believes Canada is “socialist”.
I would like to remind you that U.S. health insurance companies do not contribute anything to health care. They are only a PARASITIC middle man receiving an undeserved cut of "FREE MONEY".
Me
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March 5, 2020 at 12:30 PM #280754
In this woefully undereducated country, a “socialist” is anyone who is to the left of Attila the Hun.
“There’s a new spirit abroad in the land. The old days of ‘grab and greed’ are on their way out. We’re beginning to think of what we owe the other fellow, not just what we’re compelled to give him. The time’s coming… when we shan’t be able to fill our bellies in comfort while others go hungry, sleep in warm beds while others shiver in the cold.... And God willing, we’ll live to see that day…” Basil Rathbone,"Sherlock Holmes Faces Death" (Universal 1943)
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March 5, 2020 at 2:13 PM #280780
When I was canvassing for the NDP (our progressive-ish party — hey, the leader is brown!), I had a few uncomfortable interactions where old white people (they were always old and always white) called me commie, told me to go back to Russia, slammed the door in my face. Of course, those interactions were far easier than the time I was chased by a guy with a shotgun when I was canvassing for Obama in Maple, WA. An old white guy.
"The United States is also a one-party state but, with typical American extravagance, they have two of them." -Julius Nyerere, First President of Tanzania
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March 4, 2020 at 10:21 PM #280410
The defense industry might be breathing easier as well.
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March 4, 2020 at 11:05 PM #280455
Bernie needs to use this in the next debate and tell the audience that they will be paying for this if they vote for Joe Biden.
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March 5, 2020 at 6:46 AM #280687
“Value” just materializes out of the ether on the arbitrary whims of capitalists.
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March 5, 2020 at 2:18 PM #280782
This infinite supply of “value” that they worship. Those who know me know to avoid mentioning the modern stock market. AFAIC, it’s one of the biggest curses on society.
"The United States is also a one-party state but, with typical American extravagance, they have two of them." -Julius Nyerere, First President of Tanzania
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March 5, 2020 at 4:49 PM #280857
‘Profit’ very clearly results from the working-class receiving an inadequate return on their labor investment into the economic structure. You can see that in the lack of healthcare and education, and the regular infusions of public revenue required by Wall Street, depriving our society the necessary resources for social services.
Market ‘economics’ is directly at odds with the Laws of Thermodynamics in its claim to create value, as well. It’s foundational assumptions about human psychology and the physical world are inconsistent with basic principles of logic, and the ‘theory’ is not even remotely concerned with ethics or morality.
I think most ‘economists’ are idiots, quite frankly.
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March 5, 2020 at 1:46 PM #280775
We also have a COVID-12 pandemic brewing. That will probably cause a large spike in the health care business in general, and the insurers set their take as a percentage of the total.
But yeah, the corporate-candidate comeback isn’t hurting their stock prices.
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March 5, 2020 at 1:56 PM #280777
each and every time they deny payments for covered medical procedures.
How? Because they invest your premiums and draw interest on that money. And as long as they don’t pay out, they get to keep the interest accumulating in those investments.We are an arrogant species, believing our fantasy based "facts" are better than the other person's fake facts.
If you are wrong, it will be because you are not cynical enough.
Both major political parties are special interest groups enabling each other for power and money, at the expense of the people they no longer properly serve…
Always wear a proper mask when out and about. The life you save could be both yours and mine.
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