My Opinion:
Investment Banker Suggested Political Outcome Months Before
Raucous Town Hall Meetings on Health Care
by Chris Lareau, editor
It goes without saying that everybody wants to see lower health care costs. Unless, of course, you are a shareholder in a health industry stock.
Of which there are quite a few. At least 16 percent of our nation's economic output is attributable to health care. Because it is predicted that this will increase to 20 percent of our Gross Domestic Product in the near future, health care stocks would be expected to go up in value unless there is a glitch in the form of health care reform.
The nation's largest investment banking firm, Goldman Sachs, detailed this threat to investors in June of this year, laying out a roadmap to adverse consequences to health care reform. The report, according to NY Times blogger Duff Wilson, was called “A Road Map to the Final Outcome for Health Reform,” and was released privately to the brokerage firm's clients in late June.
The Goldman Sachs roadmap basically states that a watered-down health care reform bill would benefit investors, but not as much as a total rejection.
Duff writes: Goldman Sachs advised investors that a stalemate in Washington would be “very positive” news.
Since the roadmap was released, at least 26 lies have been promulgated on the internet about health care reform, lobbyist-inspired rabble rousers hi-jacked what used to be peaceful town hall meetings held by legislators, and health care stocks have gone up. I guess when the nation's largest investment banker speaks, people listen.
If health care reform does not pass this year, do not despair. At least the stock market will go up.
It is important to note that Goldman Sachs made no suggestions whatever as to how to manipulate congress this summer. The economic report is just that, a scientific analysis of what the best investments are. Science, as an objective pursuit, makes no moral judgements, and so far, the Goldman Sachs report has proved to be accurate. However, should Americans view health care as a moral question, many investors could lose their shirts. This might explain the origin of so much hysteria and paranoia about change. And perhaps why the pharmaceutical industry makes so much money on pills for the treatment of greed and fear, and their associated psychiatric disturbances.
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