Health care assortment

The issues for dummies:


After Obama's speech the stock price of major health insurers rose fairly significantly. This is a pretty good sign that Wall Street, at least, believes that the public option won't happen and nothing in whatever reform happens will impact the profits of these almost entirely parasitical entities.

Speaking of that, a friend of Doug Henwood points out that the total market cap of these companies amounts to about $150 billion, whereas the administrative overhead they impose over a single-payer scheme is closer to $250 billion. Thus a simple nationalization via buyout would easily pay for itself in a year. Obviously, nothing that sensible will happen.

How is it that we have a sizable chunk of population that is obviously at risk of health cost catastrophe (I refer to the white, lower class yahoos who make up the teabaggers) yet is willing to put themselves out to prevent a guarantee that they won't lose their insurance? I truly don't get it. Obviously these aren't the brightest bulbs in the chandelier and can easily be whipped into a frenzy of hate and paranoia, but in a visble economic downturn how much brains does it take to realize that you are at risk of losing your job, your insurance, and are thus at risk of medical bankruptcy? I really do not get it.