PRE MARKET

Thoughts on the senate healthcare bill:

Subsidies, grants, tax credits, waivers. All are in the senate bill. All four mean the taxpayer continues to be on the hook for others. This should never be. But in the world of socialist governments, the taxpayer is always on the hook.

Unfortunately, while the bill is a definite improvement on Obamacare, it continues to be a twisted jigsaw puzzle with a bunch of pieces missing. Expiration dates, add-ons, take-offs, do this and you get that. Don’t do this and you don’t get that. Where is the market forces in all this? Why can’t we get to the point where health insurance is an ice cream store. You walk in. You pick your flavor and you pay for it. Why? Because government wants to continue to tell you what you have to have.

The good news in this bill is it takes away the taxes Obama foisted upon the public. Of course, the socialists will now tell you it is a tax cut for the rich. They never change. The good news is that the mandates are gone but there is still a lot more to be desired. I guess you can’t have it all when you have such a blob of a system.  Just do not believe anyone telling you the outcome of this. THEY DON’T KNOW! The fact is the system, which basically government has taken over, is screwed. Time will tell.

We do know one thing. One of the architects of Obamacare said in order to fix Obamacare…just PENALIZE people more in order to FORCE them into buying something they don’t want. Now that is economics for you.

Futures flattish. Mixed bag yesterday. Again, BIOTECHS with the big breakout of range…and that has not stopped as the big money flows to it. That is helping in that the SEMIS look like the opposite right now. SEMIS are still above the 50 day but distribution in many names. To be watched.