Oopsies stock market DIVING!

[cilla4progress]

Suppose they are rewiting the speech right now?

BTW: thanks Bezos, Buffet and co. Great timing!

[cilla4progress]

1. Filling in the gap:

Amazon, Berkshire and one more (oops) making plans for a new nonprofit healthcare delivery format. Announced today and may/may not be related to big drop. 👍

[Wwcd]

3. Maybe someday we can all have that

My friend is in banking as an underwriter.
He is actually sending his resume this week in an agressive move to work for one of the 3 companies announced today.

Jp Morgan I assume.
But indeed, good luck to all who do the same for this very reason.

[yardwork]

9. JP Morgan.

[radical noodle]

27. The other is JP Morgan Chase

I believe.

[pangaia]

31. Oh, now THERE is a firm you can put your trust in. Yessiree.

[radical noodle]

34. You can bash them all you want

and for good reason, but working on a good healthcare system that is non-profit could be a good thing.

[Blue_true]

37. Try not to throw the baby out with the bath water.

Honestly, I would work with Satan to get a few good things done and fight viciously him on all else. But of course, I have a mindset that allows me to avoid some dynamiting progress so that I can call myself pure.
I honestly think that large companies should have joined Obamacare, simply to bring in a large population of younger people and ultimately reduce costs for everyone, including them.

[pangaia]

47. So you accuse me of "... some dynamiting progress so that I can call myself pure. "

Thanks.

You may have an opinion and I may have an opinion.

[elleng]

35. NYT: Amazon, Berkshire Hathaway and JPMorgan Team Up to Disrupt Health Care.

SEATTLE — In a sign of just how fed up corporate America is with the country’s expensive and often confusing health care system, three behemoths — Amazon, Berkshire Hathaway and JPMorgan Chase — announced on Tuesday that they would form an independent health care company for their employees in the United States.

The news added further uncertainty to an industry already reeling from attempts by new players to attack a notoriously inefficient health care system. The lines between traditionally distinct sectors, such as pharmacies, insurers and providers, are increasingly blurring.

CVS Health’s deal last month to buy the health insurer Aetna for about $69 billion is just one example of the shifts underway. Amazon’s potential entry into the pharmacy business is also reverberating.

The three companies provided few details about the new entity, other than saying it would initially focus on technology to provide simplified, high-quality health care for their employees and their families, and at a reasonable cost. . .

News of the announcement sent the stocks of established health care providers plunging, and touched off a wave of speculation about what the new company might do. It was unclear whether the new venture would make it easier for consumers to understand their health care costs and access medical records, or take on more ambitious changes like the wider use of telemedicine and virtual doctor visits.'>>>

https://www.nytimes.com/2018/01/30/technology/amazon-berkshire-hathaway-jpmorgan-health-care.html?

The headline does NOT serve to inform well, imo.

[lagomorph777]

46. In my experience, most doctors could be replaced by robots.

I'd be more than happy to work that way 90% of the time. The other 10% of the time, I'd like to see the 10% who are worthy of surviving the robot apocalypse.

[Sophia4]

36. That would be great!

I don't know the whole story, but at least some nonprofit healthcare companies switched to for-profit in the 1990s. I hesitate to mention this because although I saw some of this going on in California, and dealt with the aftermath a couple of times, I am far from being even really well informed about this. But I know that deals were made. For instance in switching to for-profit, hospitals in some cases were required to create or donate money to non-profits, charitable money that had been donated to them. Apparently that was not always done correctly.

So this is a wonderful move.

Here is an article about non-profits in healthcare (lots of hospitals still are).

http://www.nonprofithealthcare.org/reports/5_value.pdf

https://nonprofitquarterly.org/2014/02/07/the-role-of-nonprofits-in-health-care-a-trends-summary/

As I recall, fundraising for programs that were not entirely health related, the last article points to a significant problem in charitable giving which is that charitable donors, foundations and wealthy individuals love to give to building funds but not to program funds. They tend in many cases to want to have their name on a building, but they don't like to pay the salaries of caregivers or administrators. That's a big problem because a building without staff is not worth much.

So it would be great if some very wealthy individuals or foundations decided to set up non-profit health insurance companies. Wonderful idea.

[Lord_at_War]

43. I don't know know how much "non-profit" means.

If you have a huge administrative bloat with all the top management making mid-6 to mid-7 figure salaries, any organization can be non-profitable...

[Sophia4]

44. But I think that non-profits have to publish a lot of financial information that

other companies don't have to publish. And they don't pay off shareholders.

You are correct that the management of non-profits can be way overpaid.

I prefer single payer that includes limits on the salaries of the employees of the government or non-profit companies that are eligible to participate. But that's a dream. I lived in four European countries that had single payer. Each had its own system.

Healthcare needs to cover everyone and be less expensive than what we now have. Single payer seems to achieve that goal.

[C_U_L8R]

2. That's a Trump Dump right there.

[CountAllVotes]

4. whew ..... !!!!

& wowzie does it ever stink !! Whatta dump tRump!

[Blue_true]

38. You should be censored.

For posting gross pornography on DU. Just imagining what a Trump dump looks like is stomach churning.

[C_U_L8R]

39. Sorry, couldn't contain myself

[PoindexterOglethorpe]

5. Rignt now it's down a frightening 1.18%.

And less than 2% from its close on Friday.

That's hardly diving.

Why do people here seem to freak out over trivial drops in the Dow? And ignore rises in it?

[cilla4progress]

7. DJIA down

346 points today. Unanimity among observers - significant change in trend

[onenote]

19. In the historical scheme of things, this is a blip

It's not remotely close to the top 20 daily drops measured either in points or as a percentage. I didn't freak out when, in 2016, the market dropped by nearly twice this amount in one day and I'm not going to freak out now.

[Blue_true]

40. 346 of over 26,000 is not much.

I think the stock market is grossly over valued. But the drop today is nothing.

[PoindexterOglethorpe]

42. If it keeps on dropping day after day

that will be a significant change in trend.

But the market is probably overdue for a correction.

Keep in mind that a 10% drop (or correction) would be 2,600 points. It's important to have an understanding of percentages and how they are figured. 346 points is still less than 2%.

[Awsi Dooger]

18. Big picture means nothing when we can overreact every day

I knew this thread would show up, once I saw the red

[louis c]

28. I mever ignore the DJIA, but I do put it into perspective

Obama became President and the DOW was at 6,000. He left office with the DOW at 18,000. That's triple.

Trump took office with the DOW at 18,000.

Come and talk to me when the DOW hits 54,000. Then Trump can crow.

[Blue_true]

41. Also, President Obama had difficult headwinds to face.

Massive unemployment, two major industries (vehicles and homes) at the very brink of complete failure, the world in deep recession. Yet he persevered and handed Trump a strong economy.

[pangaia]

33. Same reason they slow down and stare at a bloody car crash,

but don't slow down and stare when there isn't a bloody car crash.

[titaniumsalute]

6. He'll blame it on George Soros

[parkerMcDavis]

8. yeah!! my 401k is losing value, let's have a party!!

[MineralMan]

11. The current value of your 401k is not the primary issue

today, I'm afraid. But, we're sorry. Truly we are.

[marble falls]

13. Can you believe someone alerted on his post?????

[MineralMan]

14. Doesn't surprise me, really.

[sarah FAILIN]

17. Russian trolls

They will do that sort of thing.

[WhiteTara]

15. Sorry to read that.

It always hurts, doesn't it? But at some point, it "should" come back. If you're young enough, you may outlive it.

[parkerMcDavis]

20. Obviously, I was just being sarcastic. A 2% drop in the market is miniscule, and hardly "hurts".

The celebitory threads that start to pop up are just silly. The Market is up 10,000 points in the last 2 years, and every time there is a couple hundred point drop it's pretty much the same folks that start talking about the market tanking. How 401k's are somehow a bad investment and the wrong way to save for the future.
I do realize, and it's been clearly stated by many, not to get your financial advice from DU, but it still bugs me for some reason.

[Old Vet]

21. Everybody whos in the know, Know this is a bubble were in.............

Currently -402.96 Its gonna stable out though parker..

[Calista241]

10. It's profit taking combined with a fear interest rates may go up

Faster than expected. The fundamentals haven't changed in the last week.

[dawg]

12. This is just a blip.

Wake me up when we're down 5%.

[yallerdawg]

23. Stay tuned tomorrow.

Apple reports.

[triron]

16. What do these investors know about what's coming??

[GoCubsGo]

22. They won't rewrite it.

They'll just do like they always do, and act like nothing has happened. Nothing to see here. Move along.

[LuckyCharms]

24. They run it up, then they run it down.

Same old shit. The market is controlled by big players. And day traders who are unlucky get screwed. It's worse than a casino.

[cilla4progress]

25. Some are missing the point:

trump is going to CROW about the market tonight, taking all credit. This drop significantly hurts the optics on that.

[radical noodle]

32. Sadly, many trumpers don't

care what he says or does.

[MattP]

26. If it's good for people it's bad for profit margins it seems

You can do both

[elleng]

30. Numbers:

S.& P. 500–1.03%

DOW–1.39%

NASDAQ–0.91%

[Blue_Adept]

45. ZOMG ITS THE END OF THE WORLD?!!!?@@#

ugh.

As I said elsewhere, back when the stock market existed under 10,000, these kinds of numbers would get a vastly different reaction. But with it where it is today? It's like you said, a piddling normal movement.

It makes me not trust those who make a big deal out of it as you wonder what else they don't understand.

[elleng]

48. I didn't say a piddling normal movement, someone else did, but I did post about the possible reason:

Amazon, Berkshire Hathaway and JPMorgan Team Up to Disrupt Health Care.

SEATTLE — In a sign of just how fed up corporate America is with the country’s expensive and often confusing health care system, three behemoths — Amazon, Berkshire Hathaway and JPMorgan Chase — announced on Tuesday that they would form an independent health care company for their employees in the United States.

The news added further uncertainty to an industry already reeling from attempts by new players to attack a notoriously inefficient health care system. The lines between traditionally distinct sectors, such as pharmacies, insurers and providers, are increasingly blurring.

CVS Health’s deal last month to buy the health insurer Aetna for about $69 billion is just one example of the shifts underway. Amazon’s potential entry into the pharmacy business is also reverberating.

The three companies provided few details about the new entity, other than saying it would initially focus on technology to provide simplified, high-quality health care for their employees and their families, and at a reasonable cost. . .

News of the announcement sent the stocks of established health care providers plunging, and touched off a wave of speculation about what the new company might do. It was unclear whether the new venture would make it easier for consumers to understand their health care costs and access medical records, or take on more ambitious changes like the wider use of telemedicine and virtual doctor visits.'>>>

https://www.nytimes.com/2018/01/30/technology/amazon-berkshire-hathaway-jpmorgan-health-care.html?

The headline does NOT serve to inform well, imo.