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Stock Market Likes “Socialism?”


Does the stock market like “socialism?” Ha, well, it sure looks that way. Possibly because the health care reform legislation passed by the House last night is about as far from “socialism” as you can get. In fact, what “Obamacare” really does is expand the market for private insurance, which is probably why “Health stocks lifted the market Monday following House approval of an overhaul bill that would extend insurance to millions.” That’s also why there’s been opposition to this from people, mainly on the “left,” who believe in “single payer” or the “public option.” Go figure.

By the way, Republicans like Eric Can’tor and John “Boner” are 180-degrees wrong on this, not that they care. Still, it’s rather amusing to hear them wailing about “socialism,” “government takeover,” and “the death of private insurance” at the same time as private health care stocks shoot upwards.

  • Like the good “socialist” that I am, first thing I did this morning was pull up the stock ticker.  I wanted to see what the most immediate arbiter of the free market (and we know this is true because Republicans have been saying so since Reagan) had to say.  And you know what?  It’s pretty good news.

    Something that really struck me yesterday as I was watching the “debate” was how often Republicans call me, as a Democrat, a socialist.  I expect that from the conservative media/entertainment side (and I expect similar hyperbole from the left media/entertainment side when it happens) but it was disappointing to see just how much of that has been absorbed by the actual people representing us in Congress.  I mean, MILTON FRIEDMAN argued for non-employer based health care.  

    But maybe now he’s a “socialist” too.