Posted on 03/15/2010 7:41:19 AM PDT by reaganaut1
Either the market doesn't care that the health care bill will pass -- and it will -- or it doesn't think that the proposal will cost that much -- something I think is nuts. Which brings us to a very tenuous crossroad: We have to wonder if this is one of those occasions, like in 2008, where the market doesn't see the coming catastrophe. Or perhaps the market sees any resolution as positive.
I don't. I think when the health care bill passes -- and it will pass, I believe, because Nancy Pelosi has worked diligently behind the scenes to bend the anti-abortion foes, the key votes, to her will -- the president will get a second wind. That means the whole agenda -- cap-and-trade, Card Check for easier organizing (something that Wal-Mart's inability to move even on its dividend boost tells you is coming) and amnesty for immigrants who are currently not citizens -- will quickly come to pass, perhaps even before the election. To pay for these items I see a dramatic increase in ordinary tax rates and perhaps capital gains and dividend tax rates in 2011 either reaching or exceeding those ordinary income rates as this current version of the Democratic Party believes that only rich people own stocks. (That's been a hallmark from Day 1 with this administration.)
Given those hurdles, which include a suicide pact with financial health for small businesses that obviously can't afford health care without risking the capital formation necessary, I think you have to put the double-dip recession back on the table.
...
But if health care reform passes, I am going to revise my thinking -- and you know I think it will -- especially because immigrant amnesty will cause the health care system to be overloaded and [soaring taxes]
(Excerpt) Read more at thestreet.com ...
I hope Cramer is wrong about Obamacare passing, but Intrade has the odds at 70% now. If Cramer, lifelong Democrat, supports Obama again in 2012, he is an utter hypocrite.
He will be proved 100 percent wrong.
.
Stagflation
We are going to have a decade of it — worse even than the Carter era.
which is what he wants....and then he will blame capitalists.
I wish I shared your optimism.....
He may also be right about this. The Democrats want us to think that it will not pass. What they are doing behind closed doors is traitorous and they will get away with it. Just like Reid managed to get the Senate version passed when most of us here were absolutely positive that it wouldn't pass.
Cramer is also right about Amnesty. It will pass by simple majority to end another “crisis” under the claims that it will save the taxpayers money to make them immediate citizens. The will allow these new “Citizens” to vote in 2010 and they will keep their majority. (ACORN) Crap & Tax is next to get ram rodded through.
If one were to establish a plan to destroy and or radically change the US it would look like this:
1. Ignore the Failing Economy and High Unemployment
2. Socialize Healthcare (16% of GDP)
3. Grant Amnesty to Millions of Illegal Aliens
4. Cripple America’s ability to Produce and Use Energy
Our country is being destroyed without a shot being fired.
So according to Jim Cramer, healthcare reform will pass and the market will fall. Based on my Jim Cramer reverse universe compass this means that healthcare reform will not pass and the market will explode. Bet on a rally - when has Cramer ever been right much less independent in his televised views? Asphincter says what?
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