Health of Healthcare

" The US stock market has lost 1417. Points. The -- of nearly three trillion dollars in value since President Bush signed into law a 700 billion dollar financial industry bailout. We'll look at some sectors and the stocks of energy they've lost two point. They've lost 220 points declining 397. Billion financial sectors lost -- 1500 points a decline of 843. Billion value but once sector that helped the best. Held up about in this offense and health care back to health care sectors lost. To a -- seven billion or 773. Points in just about an hour ago Wachovia raised you have healthcare sector to overweight from market -- Joining me this morning to discuss why health care seems to be holding up until McAuliffe he's the CEO and founding partner -- well informed LLC it's a health education company. Doctor Steven Greer the founder CEO health care of the health care channel more guns right. When doctor -- tell tell us what. The next administration has to do to change the whole face of the health care industry. Well I don't think a whole --"

" Has to change fundamentally we can still stay in a recession in these health care stocks were recovered because the fundamentals are still good this last week is so good string of earnings from engine and -- Bristol-Myers Squibb Genentech. Obviously the major panic -- we saw the beginning of October took everything down. But hitting the key here is that the act be recession in the economy can still. -- be bad in these in a lot of large blue chip names like Genentech in Johnson Johnson will recover within this year I think."

" But -- that's the stock market point of view. From the health care point of view it will we had boom times we stood still have a whole lot of Americans who weren't covered. From airport to do what what has to be done particularly on the ground yeah I think the main issues that have to be more people covered that's been more people in the risk pool if you will. You're million people there's about fifteen million -- all -- time. So we can reduce the uninsured and underinsured. And frankly right -- the folks that are over insured. Folks that too much insurance arm and our consumers that aren't buying. Values -- they're basically spending lots of money and unnecessarily so this brings up to the topic of socialism or socialist system national health care. It's been heavily debated obviously if you believe in the polls that looks like this is something that Americans are willing to tinker around with. She it would be afraid of that. No I don't think so I think when he talked about socialized medicine there's a lot of misconceptions about it. Full coverage. It is considered I guess kinds of socialized medicine we will never have a system and our country. Where the the government will provide health care maybe the coverage will be mandated somehow either through individual mandates -- business mandates. But it's full cover which you which connotes the socialist. They don't Ortiz brought a lot between socialism and capitalism with respect to health."

" Well it's a simple definition is whether the health care costs of a company put under the budget of the government."

" And if that's the case like candid the UK Germany Paris that France everywhere it -- socialized not a problem there is that you have to do rationing because there's not enough money to go around so expensive therapies like the new Biotech drugs in England. That just recently have been. Not reimburse that he can get those over there or expensive. Procedures like cat scans or or -- dialysis to get to wait extensive lines."

" To get those so -- the real promise want to socialize -- then you start to ration and and eliminate."

" But other horror stories that we're here over here people waiting six months for just common procedures also on the state level. Seems like states have little difficulty funding they're talking about layoffs where does that play in --"

" Well it's failed recently and and the recent states have traded here is just too expensive so now having said that I don't think no matter what the rhetoric as before the election I don't think Obama has a chance and had -- been approved because of the economic situation room now so I don't think you -- really fear socialized medicine. And Barack Obama is elected because it's just not a reality. But you like this area as want to invest in right now yes that's sex health care sector has been outperforming tremendously compared to the overall market and should continue to do so. In particular. We'll share I think Genentech no brainer its has. Offer to be acquired by -- no reason it's not that take up prices because people think the deal won't go through when they don't think growth will be able to borrow the forty billion but that should happen with the credit markets countries. Boston Scientific is another stock that's been beaten up over. Unfounded reasons I think -- that's I think there might be some other -- what what it was the thought it was the balance -- people thought they couldn't pay their -- and in this market anything with the written word balance -- scares everyone but that was."

" The civil -- question marks about Stetson with the direction they're going to go to get back to -- because. It's purchasing Stephen said something about the fact that we won't ever go to socialized medicine. You educate people how to educate the public on this topic because it is extremely confusing it is very confusing and really were returned. Usually folks are sold health insurance and don't buy it. So really trying to create a consumer real. Consumer market in the for folks looking for health insurance to actually look at how high deductible plan navy might be you have a much lower premium so that's really the the effort is -- help people understand their options and how they -- out over time. And I think -- welfare I think the -- out well because they there's a lot of different products in the marketplace for health insurance I think now the people looking at their own personal balance sheet. In trying to protect their cash the only sure they have health insurance okay. Thank you very much both the guys really appreciate -- mentality it's a CEO of founding partner be well of formed LLC and doctor Stephen prayers of founder and CEO of the health care channel."