Economics Thread

[striker42]

Henry M. Rosenberg
@DoctorHenryCT
·
22h
Drug companies claim if drug prices are reduced or negotiated by Medicare,

they would not have money for R&D. Why would the first thing cut be R&D?

Why wouldn't it be lavish CEO compensation packages or advertising where

they lie to the public about their products?

I don't care about the CEO compensation packages. It's a drop in the proverbial bucket. I absolutely think Medicare should be negotiating reduced prices and tell the drug companies that if they don't like it then they need to raise their prices in other countries. There's no reason American's (whose tax dollars often contribute to drug development) should be paying nearly 3 times what people in other countries pay. Stop the practice of US consumers subsidizing the rest of the world. And pharmaceuticals isn't the only area this happens in.

[thethe]

I don't care about the CEO compensation packages. It's a drop in the proverbial bucket. I absolutely think Medicare should be negotiating reduced prices and tell the drug companies that if they don't like it then they need to raise their prices in other countries. There's no reason American's (whose tax dollars often contribute to drug development) should be paying nearly 3 times what people in other countries pay. Stop the practice of US consumers subsidizing the rest of the world. And pharmaceuticals isn't the only area this happens in.

There was once a man that said the US was getting railroaded in all these deals while other nations got the benefit. What happened to that guy?

This post is definitely more the angle that should be taken. Not stupid ceo salaries that 57 can’t comprehend aren’t large in comparison to the size of the companies.

[57Brave]

99.9% sure the writers intent was not to equate dollar for dollar expenditures R&D to compensation / advertising .

But to point out the press release scare tactic
that obviously worked on the intended audience

[57Brave]

President Biden
@POTUS
·
56m

United States government official
Today I'm announcing action to lower the cost

of gas and oil for American families.

The Department of Energy will make available releases of

50 million barrels of oil from the Strategic Petroleum Reserve

to lower gas and oil prices for Americans.

[thethe]

President Biden
@POTUS
·
56m

United States government official
Today I'm announcing action to lower the cost

of gas and oil for American families.

The Department of Energy will make available releases of

50 million barrels of oil from the Strategic Petroleum Reserve

to lower gas and oil prices for Americans.

And the idiot left thinks that 50 million barrels will do a thing.

Its got to be great to have the dumbest collection of voters of all time.

[thethe]

99.9% sure the writers intent was not to equate dollar for dollar expenditures R&D to compensation / advertising .

But to point out the press release scare tactic
that obviously worked on the intended audience

It worked on you because you don't understand a thing about economics.

[sturg33]

Biden shuts down oil production.

Price go up.

Biden depletes our reserves

Takes credit for temporarily lowering prices.

57 cheers like a clapping monkey

[thethe]

Biden shuts down oil production.

Price go up.

Biden depletes our reserves

Takes credit for temporarily lowering prices.

57 cheers like a clapping monkey

Prices don't move much long term and then we are left with no reserves.

Move to renewables immediately!

The stupid seals clap.

[striker42]

99.9% sure the writers intent was not to equate dollar for dollar expenditures R&D to compensation / advertising .

But to point out the press release scare tactic
that obviously worked on the intended audience

The problem is that it's getting drawn into the weeds and away from the actual real problem of US consumers subsidizing the rest of the world. That needs to be the rallying cry. Fighting over CEO pay and advertising isn't going to seriously change the price of drugs and anyone really looking at the industry knows that.

I will say that there's an idea among certain groups that actions that would increase the cost of drugs elsewhere aren't acceptable alternatives. They don't want to point out that US consumers are subsidizing other countries as they think everyone should be paying that low of prices instead of the US coming down in price while other countries increase until there's an equilibrium. The idea that the US needs to force other countries to pay their fair share has become associated with the far right instead of being addressed as a legitimate problem.

[Jaw]

I'm glad his predecessor increased the size of the reserve while oil prices were low during the previous administration. It makes the current President's virtue signaling a little less expensive.

[thethe]

I'm glad his predecessor increased the size of the reserve while oil prices were low during the previous administration. It makes the current President's virtue signaling a little less expensive.

The best presidency of most of our lifetimes.

The fact that he got so much wrong is more an indictment of how bad all the other administrations were.

[Krgrecw]

And the idiot left thinks that 50 million barrels will do a thing.

Its got to be great to have the dumbest collection of voters of all time.

But the Biden supporters say the president has nothing to do with the price we pay at the pump.

[Jaw]

But the Biden supporters say the president has nothing to do with the price we pay at the pump.

Even sadder is that some of them believe it.

[57Brave]

The problem is that it's getting drawn into the weeds and away from the actual real problem of US consumers subsidizing the rest of the world. That needs to be the rallying cry. Fighting over CEO pay and advertising isn't going to seriously change the price of drugs and anyone really looking at the industry knows that.

I will say that there's an idea among certain groups that actions that would increase the cost of drugs elsewhere aren't acceptable alternatives. They don't want to point out that US consumers are subsidizing other countries as they think everyone should be paying that low of prices instead of the US coming down in price while other countries increase until there's an equilibrium. The idea that the US needs to force other countries to pay their fair share has become associated with the far right instead of being addressed as a legitimate problem.

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"
///////////////////////////////////////////////////////////

[thethe]

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"
///////////////////////////////////////////////////////////

The writer just haphazardly mentions CEO salary though.

Just admit you got duped as usual and now are in disaster recovery.

[sturg33]

I'm glad his predecessor increased the size of the reserve while oil prices were low during the previous administration. It makes the current President's virtue signaling a little less expensive.

Which of course the dems were against at the time bc not trump

[thethe]

Which of course the dems were against at the time bc not trump

When you actually review what the Democrats support they were responsible for the massive spread of the CCP virus in Feb/March 2020.

[sturg33]

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"
///////////////////////////////////////////////////////////

LOL it's like saying McDonald's could pay its millions of employees more if they just cut their CEO pay to zero... They could give every employee a $20 per year raise!

[sturg33]

Even sadder is that some of them believe it.

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

[Tapate50]

Biden shuts down oil production.

Price go up.

Biden depletes our reserves

Takes credit for temporarily lowering prices.

57 cheers like a clapping monkey

It’s wild to watch.

Each tweet he posts is dumber than the last.