ObamaCare: Soon to be the Worst Bill Passed in U.S. History (Part 1)

Politics / Healthcare Sector
Mar 23, 2010 - 02:42 PM

By: Mike_Stathis

With Obama’s healthcare bill ready to sign, democrats are celebrating. Meanwhile, (supposedly) enraged republicans insist payback will come in November. This is part of the typical back-and-forth theatrics staged to galvanize voter support for each party. Please do not allow yourself to be fooled by these games. As the facts show, both parties are essentially the same when it comes to issues that matter most to working-class Americans; free trade and healthcare, as first detailed in America’s Financial Apocalypse. http://www.avaresearch.com/article_details-74.html

As you shall soon see, President Obama's healthcare reform bill falls way short of what is needed as a part of America’s economic revitalization. In fact, it is likely to create more long-term problems for consumers, all while boosting industry profits. Regardless what you may hear and read from America’s tightly-controlled media monopoly, the healthcare industry will continue its string of excessive profits at the expense of consumers and taxpayers. This is how things have always been ever since the medical-industrial complex took hold of healthcare after the Second World War.

The end-result expected from ObamaCare should be obvious. It certainly was obvious to investors. After the bill passed the House Sunday night, healthcare stocks led the market rally the next day. The outcome was clear to the most sophisticated investors long before negotiations began. Less sophisticated investors only realized what would come of Obama’s healthcare reform by late 2009. As a result, HMO stocks have been rising since November 2009, significantly outperforming the S&P 500 Index.



None of this is any surprise to me. You might recall that I have been advising investors to stay out of traditional U.S. asset classes since May 2008, with the exception of healthcare and oil. In fact, I stated the same thing in America’s Financial Apocalypse, which was released in late 2006.

Although many of the details of this 2400-page bill have not been made final, by now even unsophisticated investors should realize that ObamaCare will end up favoring the industry. Rather than structuring real price controls and real competition into the most sweeping healthcare legislature since Medicare, Washington seems more determined to furnish health insurers with even more taxpayer subsidies along side of millions of uninsured Americans who will be required to purchase insurance. Meanwhile, drug and device makers will simply raise prices to pay for any new taxes. There will never be real change from an industry backed by one of the strongest, largest, and wealthiest lobbyist groups in Washington handing out billions of dollars.

As the facts show, Obama has flip-flopped on every promise http://www.avaresearch.com/article_details-451.html he made to Americans, from restructuring free trade, pulling out of Iraq, promising to avoid the use of signing statements, financial reform, bringing accountability to those responsible for the economic collapse, http://www.avaresearch.com/article_details-417.html and many other campaign promises. As a result, healthcare reform remains as his last source of “change.â€