The Stock Market Is Not The Economy Thread II

[Day]

(but they literally are, even for insulin [for Medicare patients anyway])

[archibaldcrane]

https://twitter.com/byHeatherLong/st...LKIaUIFUg&s=19

[Spicyryan]

sent to ukraine

Not all of it, lol.

With drug prices, the government can just do price controls if they want to (like literally every other wealthy country does). That's actually part of the IRA for certain drugs under Medicare for the first time (including a $35 monthly cap on out of pocket spending on insulin products for diabetics on Medicare)

The cumulative effect of this drug pricing control will be a deficit reduction of $237 billion over 10 years, which shows how powerful government rate-setting can be (and that's just for a handful of drugs under Medicare!)

https://www.kff.org/medicare/issue-b...reduction-act/

Just need medicare for all next. Otherwise, great for the old.

[Penthesilea]

Should certain drugs be price controlled? Yes.

It takes an exorbitant amount of money to come up with a novel drug. I know because I work in the drug discovery industry and see what it costs to even find a lead. That's before anything in vivo, so it's not even a drop in the bucket of what it takes to go to market. So you need to allow for companies to bring in money, otherwise all kinds of target pipelines get shut down

[kuronosan]

The problem is insurance companies tend to not like paying for brand, then medicines that were generic get rebranded for approval for some other label thus allowing them to circumvent "generic" drug pricing and advertise it as super betterer for patients.

Or, an insurance company just decided it won't pay for a medicine that works because it's "no longer on formulary" (which means they're wanting to save money and fuck your patient's health).

There are far more necessary demons to fight that aren't "BUT MUH TAX DOLLARS GO TOWARDS VACCINES".

And your insurance premiums go toward Jimothy's blood pressure medication. That he's still going to have to pay for.

[archibaldcrane]

Should certain drugs be price controlled? Yes.

It takes an exorbitant amount of money to come up with a novel drug. I know because I work in the drug discovery industry and see what it costs to even find a lead. That's before anything in vivo, so it's not even a drop in the bucket of what it takes to go to market. So you need to allow for companies to bring in money, otherwise all kinds of target pipelines get shut down

America needs to drive a harder bargain, and drug companies need to respond by driving a harder bargain with all the other wealthy countries who have been freeriding for literally decades off our drug spending largess.

[archibaldcrane]

it's ok though we're like 10 years away from quantum computing just telling us the correct molecule to produce to cure things

Spoiler: show

joking

Spoiler: show

i think

[archibaldcrane]

Not all of it, lol.



Just need medicare for all next. Otherwise, great for the old.

https://twitter.com/JStein_WaPo/stat...tQt4hhdWg&s=19

[Day]

why didnt he just say that in 2021 smh

[Spicyryan]

https://twitter.com/JStein_WaPo/stat...tQt4hhdWg&s=19

Yeah, Biden is and will remain a douche that doesn't care to really address healthcare in this country, and is against universal coverage.


Also, B3.

https://twitter.com/concodanomics/st...Va6ViQtcA&s=19

[archibaldcrane]

Cracked me up for some reason

https://twitter.com/JimPethokoukis/s...9Fn3_chwA&s=19

[6souls]

https://betakit.com/as-big-tech-make...ht-cut-deeper/
https://stlawyers.ca/blog-news/ssens...severance-pay/

Canadian tech sector has announced layoffs;

SSENSE (online fashion retailer) - 70% of it's workforce (approx 138)
PartnerStack (middleman agency to easymode partnerships) - 20% (approx 40)
Venngage (Similar business model to SquareSpace) - 20% (approx 11)
#paid (influencer marketing) - 17% (approx 19)
Shakepay (Crypto exchange) - 25% (approx 21)

[Spicyryan]

Cracked me up for some reason

https://twitter.com/JimPethokoukis/s...9Fn3_chwA&s=19

Outside of that shitty island being shit. Im not buying it, though it's a timing game of when on their part. US core GDP is stalling out and is nearly recessionary at +0.6%. The GDP numbers people are getting "excited" over were boosted by irregular factors.

[archibaldcrane]

Happy California Builder's Remedy day for all those who celebrate. Dozens of municipalities lost control of their residential zoning today because they failed to submit a plan to allow more housing construction. When this happened a few months ago in Santa Monica they got plans submitted to build more housing in a week than they'd built in 5 years.

https://twitter.com/IDoTheThinking/s...52765009518592

[Spicyryan]

Corporations shouldn't have zoning authority.

[archibaldcrane]

The state has zoning authority.

Usually the city does, but they've relinquished it by failing to follow state law.

[Jaybar]

Awesome.

[Spicyryan]

The state has zoning authority.

Usually the city does, but they've relinquished it by failing to follow state law.

I was commenting to the linked tweet.

[archibaldcrane]

I was commenting to the linked tweet.

The linked tweet is also not...


...you know what, never mind

[archibaldcrane]

My god...

https://twitter.com/byHeatherLong/st...KG91c4BAg&s=19