To: calgal who wrote (24408 ) 10/20/2002 10:56:56 PM From: jim black Read Replies (4) | Respond to Interesting that such bright and Pollyannsih optimism can spring to someone's mind about GM. There is overcapacity in the entire world auto building industry and GM has gone to 0% financing and faces a huge unfunded pension liability. I simply wish that one of these pundits would tell where all the money is going to come from to boost GM's 2003 earnings to justify optimism. Again, the emperor has no clothes. The media is having trouble covering the sniper in the just DC corridor. What happens when the sleeper cells of Al Qaeda start shooting up Kansas City? The bull has run since 1982. Most investors cannot remember the 1987 crash but they know about the millions in lost in their 401k. etc. I shake my head in disbelief at optimism. Where has been the shakeout? IT AIN'T over. And once again after a period of keeping my mouth shut I raise my voice once more like a tiresome tune... beware all yea hereabouts...biotechs are no safe haven...I practice only part time and am daily bombarded with news from public policy afficionados in my specialty about coming mandated Medicare cuts for all Medicare providers (like me) that we face under current plan a 4-5% reduction in fees yearly for at least the next five years. But that is not going to be enough to cut it. Pay us nothing and that is not going to be enough to cut it. Who in Christ's/Moses'/Buddha's name is going to pay for the miracle drugs to provide long and healthy life for seniiors? My mother who suffers from osteoporosis and a mild hypercholesterolemia is prescribed Fosamax 70 mg/week=$14/pill AND Lipitor 10mg per day at $3 per pill AND Prevacid 20 mg/day for acid reflux disease at $3 per pill which totals to ~$176/month on a fixed income and will run out of money if I do not help her and she is considered HEALTHY for her age. WHO is going to pay for Merck's, Pfizer's, Amgen's, Biogen's, Allergan's, etc. new miracle drugs????? And the idiots in Congress think they will just add this onto the tab of the nation's already ridiculous defict and national debt, (we don't really have to service that do we, Sir Allanscum?). And of course both liars runninf for president in 2004 will PROMISE drug benefits for seniors. I assume everyone here may not know of the Oregon universal health care proposition on this year's ballot. Covers even massage, all paid out of state funds. (They plan to heist the state income tax rate from 9% to 17%.) They are just 40 miles north of here and already I know a half dozen docs getting ready to leave the state if it passes. ( Who do you think the docs are going to get paid by...you guessed it...the state of Oregon, the check is in the mail and I won't... { you know, that disgusting jingle}) In all the reading I have done I have seen NO meaningful or sensible answers and still I see optimism about the drug industry rear its head now and then on this thread.
