Biden Comeback Drives $48 Billion Gain for Health Insurers

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    • #280355
      alcina
      Participant
      • Total Posts: 743

      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

    • #280365
      LiberalArkie
      Participant
      • Total Posts: 77

      an insurance company, bank, or corporation he didn’t liked.

    • #280379
      Jan Boehmerman
      Moderator
      • Total Posts: 3,924

      Business as usual!

      • #280403
        alcina
        Participant
        • Total Posts: 743

        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

    • #280398
      Enthusiast
      Participant
      • Total Posts: 4,775

      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

      • #280412
        alcina
        Participant
        • Total Posts: 743

        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

        • #280612
          Enthusiast
          Participant
          • Total Posts: 4,775

          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

          • #280754
            ArtfromArk
            Participant
            • Total Posts: 1,184

            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)

            • #280780
              alcina
              Participant
              • Total Posts: 743

              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

    • #280410
      Babel 17
      Participant
      • Total Posts: 4,175

      The defense industry might be breathing easier as well.

    • #280455
      PADemD
      Participant
      • Total Posts: 2,173

      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.

    • #280687
      Yanath
      Participant
      • Total Posts: 1,601

      “Value” just materializes out of the ether on the arbitrary whims of capitalists.
      🙄

      • #280782
        alcina
        Participant
        • Total Posts: 743

        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

        • #280857
          Yanath
          Participant
          • Total Posts: 1,601

          @alcina

          ‘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.

    • #280775
      Spud Demon
      Participant
      • Total Posts: 138

      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.

    • #280777
      retired liberal
      Participant
      • Total Posts: 3,468

      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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