Economics Thread

[striker42]

That was not the point of the writer.

his intent was to point out how industry PR immediately knee jerks to the tried and true scare tactics.
of "oh lord we will have to stop R&D"
///////////////////////////////////////////////////////////

And yet he fell immediately into arguing the points that the drug companies want him to argue. The old, tired, non-winning lines people have been using for years. This is exactly the fight I'd want to have as a drug company as I know I'd win.

[57Brave]

In the court of public opinion I disagree.

As we 10 years later inch closer and closer to 1% protest mindset.

[striker42]

In the court of public opinion I disagree.

As we 10 years later inch closer and closer to 1% protest mindset.

Interestingly I don't think we disagree on the main point. Medicare should be allowed to negotiate with drug companies. I just don't see CEO packages and advertising as the things causing high prices. US consumers subsidizing other countries is a bigger issue.

I think if we allowed Medicare to negotiate, we'd see the drug companies trying to raise prices over seas to strengthen their bottom lines. They're not going to cut R&D as that's what keeps them in business.

[57Brave]

So why say the R&D budget would be victim rather than ... fill in the blank ?


Yes we do agree on the main point.

[striker42]

So why say the R&D budget would be victim rather than ... fill in the blank ?


Yes we do agree on the main point.

If they said they'd have to raise prices overseas that would just accelerate the push towards Medicare being able to negotiate. But they don't want to do that as it would undoubtedly be a fight in many of those countries to raise their prices. Far easier to try to maintain the status quo.

I just hate seeing people respond by attacking CEO salaries and advertising. Those are side issues that while inflammatory are not actually difference makers and just distract from the real issues.

But yeah, it's stupid Medicare can't negotiate.

[mqt]

The funny thing is OPEC is going to respond by cutting production which will increase oil costs.

Oil markets on up today on this anticipation

Serious question, then: what exactly do you want Biden to do at this moment to fix the gas price crisis? I understand basic Economics (at least I hope I do, or that was an even bigger waste of 4 years than I already thought) and if increasing supply to meet demand won’t work, what are the steps he should be taking to fix it? For what it’s worth, I think you’re right that OPEC can offset much of what would be gained, but that’s why I find it odd to blame Biden for it.

[sturg33]

Serious question, then: what exactly do you want Biden to do at this moment to fix the gas price crisis? I understand basic Economics (at least I hope I do, or that was an even bigger waste of 4 years than I already thought) and if increasing supply to meet demand won’t work, what are the steps he should be taking to fix it? For what it’s worth, I think you’re right that OPEC can offset much of what would be gained, but that’s why I find it odd to blame Biden for it.

Biden should publicly declare the US will be energy independent and open up the pipelines he shut down.

That alone would send oil prices down overnight

[57Brave]

[acesfull86]

We also hunt mice and lick our own fur

[striker42]

Depends on the type of Libertarian. I've known people who think even things like road building should be privately run.

There are others who just want the government to stop telling us what to do and how to act while also staying in their lane in what they do.

I'm not sure if the latter are technically Libertarians but I refer to them as moderate Libertarians. It would be how I define myself.

[goldfly]

Lol


True

[cajunrevenge]

Or we could be libertarian because both mainstream parties suck. I wouldnt want to live in either of their ideal world. Imo I would barely call what we have Democratic at all. We need ranked choice voting.

[acesfull86]

What’s the system we’re “utterly dependent” on that we “don’t appreciate or understand?”

[sturg33]

What’s the system we’re “utterly dependent” on that we “don’t appreciate or understand?”

He's. Gonna gonna need to get back us on that one. Takes a bit to find someone's tweet that specifically

[striker42]

Or we could be libertarian because both mainstream parties suck. I wouldnt want to live in either of their ideal world. Imo I would barely call what we have Democratic at all. We need ranked choice voting.

I agree with this 100%.

[acesfull86]

What’s the system we’re “utterly dependent” on that we “don’t appreciate or understand?”

?

[acesfull86]

He's. Gonna gonna need to get back us on that one. Takes a bit to find someone's tweet that specifically

Well I guess that’s that…

[57Brave]

Dan Price
@DanPriceSeattle
·
1h
General Mills just paid a $300 million dividend to investors,

bought back $150 million in stock to enrich execs and investors

and pays its CEO $16 million. It makes $2.1 billion a year in profit.

It is raising prices on cereals 20% and blaming "inflation"

[thethe]

Dan Price
@DanPriceSeattle
·
1h
General Mills just paid a $300 million dividend to investors,

bought back $150 million in stock to enrich execs and investors

and pays its CEO $16 million. It makes $2.1 billion a year in profit.

It is raising prices on cereals 20% and blaming "inflation"

General Mills had cost of sales of 11.7B in 2021 full fiscal year with an accounting profit of 2.3B.

Add 15-25% to that cost of sales number and what do you get?

Do you even realize how financially illiterate you and the people you follow are?

[acesfull86]

Lost me at the quotes around inflation…