Tag Archives: Super Tuesday

‘What More Do You Need to Know?’ Health Insurance Stocks Drive Wall Street Rebound on Biden Super Tuesday Wins

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“Biden is the preferred candidate for the financial markets.”

By Eoin Higgins

Source: CommonDreams

Health insurance industry stocks surged Wednesday morning in the wake of former Vice President Joe Biden’s strong showing in the Democratic presidential primary’s Super Tuesday contests, opening up 600 points after traders appeared to bet the candidate’s resurgence would box out any chance of single-payer universal healthcare.

“What more do you need to know,” tweeted journalist Jack Mirkinson of the market’s spike.

Sanders has made Medicare for All a centerpiece of his campaign. The healthcare industry has poured millions in ad buys against Sanders after the Vermont senator won primaries in Iowa, New Hampshire, and Nevada.

“The industry has long seen Biden as their white knight,” said Dr. Adam Gaffney, the president of Physicians for a National Health Program and an outspoken Medicare for All advocate.

Biden on Tuesday won at least nine of the 14 states up for grabs to Sanders’ four. At press time, Maine was yet to be called, with Sanders and Biden locked in a razor-thin contest.

The market surge came after a rough week for the stock market, which at the end of February saw its biggest decline since the 2008 financial crisis after fears of the economic cost of a worldwide coronvirus pandemic increased.

Business commentators also made the connection between Sanders’ victories in the early primary states, particularly in Nevada, and the market’s poor performance last week.

On Fox Business February 28, billionaire Steve Forbes remarked that the weeklong drop was not only about fears of the coronavirus.

“There’s the political side,” Forbes said of the reason for the poor performance. “In the last week, week-and-a-half, the possibility of Bernie Sanders becoming president of the United States has increased, exponentially.”

According to the Washington Post:

Stocks of healthcare companies roared in response to Biden’s performance. Cigna was up more than 10 percent in morning trading, while UnitedHealth Group rose nearly 12 percent. Humana jumped 1.25 percent and Anthem soared nearly 14 percent.

Investor Ed Yardeni told the Post that Wednesday’s spike was a correction to earlier fears of what he called “Bernie Sanders’ socialist program.”

“The market’s sell-off last week on Sanders’ primary victories and rebound on Monday after Biden’s big win in South Carolina and this morning after Super Tuesday suggest that domestic U.S. politics may matter as much as the global health crisis on investors,” said Yardeni.

As Common Dreams reported, the results—which saw billionaire Michael Bloomberg and Sen. Elizabeth Warren (D-Mass.) coming in far behind the two frontrunners—transformed a once-crowded primary into a two-man race. Though Biden put up a good showing, exit polls from the contests showed a majority of Democratic voters backing the elimination of private insurance in favor of a government-run system guaranteeing healthcare for all.

The Dem Establishment Successfully Cinched a Biden Super Tuesday Victory

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Democratic presidential candidate former Vice President Joe Biden speaks at a primary election night campaign rally Tuesday, March 3, 2020, in Los Angeles. (AP Photo/Chris Carlson)

Super Tuesday has raised the stakes and set the stage for a battle for the Democratic Party’s soul; one that will decide if it stays the course with neoliberalism with Biden or moves towards a progressive social-democratic model with Sanders.

By Alan Macleod

Source: Mint Press News

Former Vice-President Joe Biden built on his victory in South Carolina last week to emerge as the only credible “stop Bernie” candidate after Super Tuesday – where voters in 14 states decided on their nominations for president. While results are still not official, it is clear that the former Delaware senator won the popular vote in at least nine states yesterday, including in Texas, Massachusetts and North Carolina, amassing at least 433 delegates. Sanders has currently secured 388, although that number is likely to rise after all of California is counted.

In one of the most remarkable and drastic political turnarounds in American history, Biden – thought of by many as a yesterday’s man – secured a stunning upset victory after a series of key endorsements. His campaign had been flagging, virtually out of money and without organization or many activists on the ground. As of Monday, he had spent just $1.5 million on TV ads in Super Tuesday states, with aides admitting to CNN their goal was merely to “remain competitive;” a remarkable admission for a presidential campaign.

But facing a Sanders nomination, the establishment wing of the party went into overdrive to find a viable alternative to the Vermont senator. Both Pete Buttigieg and Amy Klobuchar dropped out and immediately endorsed him, as did other figures like former Texas congressman Beto O’Rourke. In a matter of mere hours, the Democratic Party higher-ups managed to coalesce around him in a way the Republicans were unable to in 2016 to stop Trump, proving to the world that the party is certainly not incompetent and can organize and carry out operations with military precision when they perceive it is in their interest to do so.

While the establishment pooled its resources (and delegates) in favor of Biden, Massachusetts senator Elizabeth Warren has refrained from dropping out, let alone endorsing Sanders, thus splitting the progressive vote. Warren finished a distant third in her home state and secured only 28 delegates yesterday. In a defeatist message, her campaign managers said they would hold a meeting to “assess the path forward.”

Biden declared victory in Los Angeles last night, presenting himself as an opponent of the wealthy and a champion of the people: “Let’s get something straight. Wall Street didn’t build this country. You built this country. The middle class built this country. And unions built the middle class,” he told the crowd. But his speech was upstaged by anti-dairy industry protestors who stormed the stage. Earlier in the speech he also confused his wife for his sister.

https://twitter.com/Breaking911/status/1235044512918941698

While it is clear that he will now be the establishment’s candidate for better or worse, the former vice-president has a long history of making egregious errors in speaking. Earlier this week at a rally he tried and failed to recite the preamble of the Declaration of Independence. “We hold these truths to be self evident. All men and women created by the…you know, the thing” he stuttered. And while he promises the working-class “cures for cancer, Alzheimer’s and diabetes” under his presidency, he also told his billionaire backers that he believes they are being “demonized” and that “nothing would change” about America if he were chosen. “I need you very badly,” he told a group of extremely wealthy donors last year.

His policy history and positions, too, might be cause for concern for many voters in the presidential election. These include advocating for cuts to social services, fighting against abortion rights, and supporting NAFTA, the PATRIOT Act and the attacks on Iraq and Libya. And while he retains strong support among Southern black voters, he helped write the 1994 Crime Bill and the Anti-Drug Abuse Bill that exploded the prison population, and fought for segregation and against integration. President Trump has already nicknamed him “Handsy Joe” in reference to his inappropriate touching of women and girls.

While Sanders supporters will be disappointed with the results, other candidates had even worse nights. Chief among them was Michael Bloomberg, who spent more than half a billion dollars on his campaign, picking up just 12 delegates, a third of them in American Samoa. Given his poor performance, that works out to nearly $50 million per delegate. The former Mayor of New York dropped out today, endorsing Biden for the nomination. If he is willing to financially aid Biden anything like how he lavishly spent on himself, Sanders will be fighting a seriously uphill battle.

“It really is a class war we’re up against,” said author and progressive journalist Naomi Klein, who has been traveling with the Sanders team.

The vast majority of this campaign are working class people who are daring to hope for the barest decent things in life. It is this amazing process of raising people’s expectations…What we’re seeing with this establishment pushback, this is not against Bernie Sanders, it is against them. It is against people saying ‘I have a right to healthcare. I have a right to a living wage,’ and it is really sad to see.”

Biden has strong support among the wealthy, the elderly and among Southern black voters. But if he is to win outright and beat Trump in November, he will need to address the age gap in voting. Even in Alabama, where he fared worst, Sanders still comfortably won the vote of those under 30. While there is much work to be done, yesterday was a good day for the establishment wing of the Democratic Party.

Next week will see six more states as well as the Democrats Abroad primaries decided. But Super Tuesday has raised the stakes and set the stage for a battle for the Democratic Party’s soul; one that will decide if it stays the course with neoliberalism with Biden or moves towards a progressive social-democratic model with Sanders.

Was Super Tuesday Rigged?

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By Jerry Kroth

Source: The Hampton Institute

Social scientists have long known that releasing poll information early, before polls have closed, has two effects: first it decreases voter turnout by about 12 percent,[1] and it increases the bandwagon effect, where people hop on and vote for the winner, by about 8 percent. [2]

On the morning of Super Tuesday, before anyone had voted, the Associated Press released a story that Hillary Clinton had already won. She was the “presumptive presidential nominee” and the victor. AP had made that announcement because of a super delegate count and decided she already beat Sanders.

Other media outlets then piggy-backed on this story, and virtually every American woke up that morning to headlines that Hillary had won-and remember, that is before anyone voted on Super Tuesday.

What a surprise! By the time you had your morning coffee and went off to the polls, you already knew Mrs. Clinton was the winner. Did that bias the election? Did it discourage people from voting? Did it create a “bandwagon effect?”

If one looks carefully at the percentage totals for Clinton versus Sanders totals for those primary states, it is clear the so-called “landslide” victory of Clinton on that day was fully within this margin of bias created by the bandwagon and voter turnout effects.

In other words, the AP story determined the outcome of this election.

Strong words? Well, let’s look at the data.

Three days before the election, a Yougov poll showed Clinton leading Sanders by two points in California. But after the Associated Press released its story, Clinton beat Sanders not by two points but by 13! Hillary got an 11 point “bump.”

From somewhere.

The same effect happened in New Mexico. Sanders was ahead of Clinton by a wide margin 54 to 40 percent. [3] By Super Tuesday, the situation reversed and Clinton beat Sanders 51.5 to 48.5. That surprising result gave Hillary an additional 13 points. Surprise! A 13 point “bump.”

In New Jersey, poll results just before Super Tuesday showed Clinton leading sanders 54 to 40 percent [4] but on election day she beat him 63 to 36, another unexpected 9 point “bump” in Hillary’s favor.

In South Dakota, a poll showed Sanders ahead of Clinton by 6 percentage points [5] just a few weeks before the primary, but on Super Tuesday Hillary pulled another rabbit out of her hat and beat Sanders by two points; an 8 point “bump” for Clinton.

Those are the only states where we can calculate pre-post results. Hillary got an unexpected 9 points in New Jersey, 8 points in South Dakota, 13 points in New Mexico, and 11 points in California. All unexpected. All unpredicted. All quite different from polls held just days before Super Tuesday.

And all very suspicious!

If one tries to rebut these findings alleging they all are within the margin of error for polls, then Sanders should have had just as many spurious bumps as Clinton. Didn’t happen! All went to Hillary. The skewing is not random! The statistical anomalies are consistently prejudiced toward Hillary.

Sixteen European countries ban reporting election results before voting occurs, and in the UK, reporting poll data on the day of the election is forbidden. [6]

All for good reason.

Serious attention should be paid to declaring these primaries invalid. Furthermore, the possibility of investigating media entities, in particular Gary Pruitt, CEO of the Associated Press, for any alleged collusion with the Clinton campaign should be aggressively pursued. Even if there is no corporate media complicity, it can still be argued that the AP’s desire for an early morning scoop determined, biased and corrupted this entire election.
Jerry Kroth, Ph.D. is Associate Professor Emeritus Santa Clara University. He may be contacted through his website, collectivepsych.com

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