What an idiot!
Sorry, I didn't want you to start reading this article under some false impression that I in any way endorse Ted Cruz, what he's doing, or his party in any way, shape or form! Actually, I shouldn't say anything as we are witnessing the death of the Republican Party. You may not believe it now but read this again in 20 years and you'll be saying "Oh yeah, I remember those guys."
Ted Cruz is not even filibustering because that would imply he had the ability to block something. What he is doing is called grandstanding or, more accurately, his job – as he was just elected last November and heavily funded by the Health Care Lobby to do exactly what he is doing now – whatever he possibly can to stop or delay Obamacare so his Corporate Masters can continue to collect their excess profits from the American people for as long as possible.
Cruz has, this year, been specifically tasked by the Heritage Foundation (yes, as an acting US Senator!) to tour the nation this Summer and do whatever it takes to shut down the Affordable Care Act. They pay for the food, the drinks, the private jets, the staff for Cruz's quest to repeal affordable health care before it begins and Heritage, of course, gets their money from the Health Care Industry.
Off topic but, if you want to see something really sick, take a look at the $13,888,126 of campaign contributions to Texas Attorney General Greg Abbott in a non-election year (2012). That's more than twice as much money as was given to Governor Rick Perry ($6,564,600) or House Republican Joe Straus (6,551,013), who actually had an election last year!
Sorry but I was looking for Cruz and saw that and I don't think it should pass without mention. Politics are a disease in this country and Ted Cruz was the AG of Texax before being elected to the US Senate. Who knew it was such a lucarative position? Anyway, like the Energizer Bunny, Ted Cruz is still going (8am) and he will keep going until they are ready to vote, when he has to shut up because he doesn't have the procedural right to filibuster – this is all for show but Heritage and the Health Care Lobby are sure getting their money's worth!
Which brings us back to the markets. This is all important background because, way back in December 2009, when we anticipated some sort of health care legislation, I wrote my 2010 outlook and we liked the Health Care sector and my picks at the time were:
- IHI at $58, now $85 – up 46%
- XLV at $30, now $52 – up 73%
- ISRG at $260, now $363 – up 40%
- MDT at $34, now $54 – up 59%
- TMO at $55, now $93 – up 69%
- BSX at $7.50, now $11.50 – up 53%
- STJ at $40, now $54 – up 35%
- SYK at $52, now $71 – up 36%
- GE at $17, now $24 – up 41%
- MRK at $32, now $48 – up 50%
- PFE at $16.50, now $29 – up 75%
- CELG at $60, now $146 – up 143%
- AMGN at $53, now $115 – up 117%
- UHS at $42.50, now $73 – up 72%
- THC at $26, now $40 – up 53%
Just this morning, it was announced that SYK is buying MAKO, who makes robot arms for orthopedic surgery so still plenty of action in this sector for us to follow. Pharmboy is our resident expert in these matters but, back in 2010, it was like shooting fish in a barrel to bet on the FUNDAMENTAL impact of adding another 10% of the population to our health care system.
The fact that pretty much every one of these stocks is still trading near their all-time high is a pretty good indication of what a complete waste of time Cruz is but, every year they delay healh care reform is another $1Tn in revenues MORE than any other civilized country is charged for it's health care – that's why a guy like Cruz is worth every dime the lobbyists pay him!
That's 3 or 4 years of YOUR LIFE being sucked up by Cruz and his Heritage cohorts. 3-4 years of your children's lives as well. That's in addition to the 100% more you pay for US health care vs those countries where people expect to live 3-4 years longer than you because they have a rational health care system that was socialized in the 60s and 70s, the same time that Nixon's staff came up with a scheme to fool Americans into going the much more profitable HMO route instead. Here's another good clip from the news later that day.
So don't blame the modern GOP for this – the Republican Party has been screwing the American People for decades!
As you can see from the chart, this is a $2.6Tn (16% of our economy) problem. It's not going to go away with a magical wave of Obama's wand but at least we are making a start to stopping the madness. As you can see, households and Government shoulder 72% of the burden so that's $1.8Tn paid by workers and $800Bn paid by business, which is actually more fair than taxes, where Business pays just $200Bn of the $2.4Tn collected (8.3%).
Come on people – STOP THE MADNESS!
