Obama's Healthcare Plan

Listening to the sketchy details of the Obama health care plan, I'm feeling like I might have set the bar too low for my September stock market prediction of 6,500. If this plan goes through, and it looks like it will, It will almost certainly cause a large spike in unemployment.

I figure the Wall Street firms are not really that concerned right now, as they assume their health plans are already above the minimums that will be set by the government. However, their short-sightedness won't spare them from the pain. I predict the smaller business will soon realize they can't make it with the added healthcare costs and will begin either closing up shop or dumping employees. Those employees will then be a further drain on taxpayers and business as they collect unemployment and other government benefits, including the new government (Read:Taxpayer) funded healthcare. Who doesn't see the huge funding gap that will be the result of this large unemployment shift? Probably the White House analysts figuring out how much it's going to cost.

So, back to Wall Street. Who's buying their products? Soon no one will be able to afford it unless it's an essential item. For the economy, this will be disastrous.

The DJIA at 6,500 might end up looking like the good old days by 2010.