Want Names?

Want names?

Here they are, politicians who received money from Mylan, manufacturer of the now controversial epinephrine injection pen.

Most of the members as noted in the article investigating the natter had their pockets and palms greases by Mylan. So did the Clinton Foundation. This story appeared on CNBC a leftist MSM member of which there is little doubt. It's probably a token crumb from that network to try to show they're really objective. You will noticed  most of these--Grassley, Leahy and Schumer--are heavyweight long standing feeders at the public trough.

If you want to know what's sick with the nation, this is a good example. The most that will probably come out of this is these public servant rogues for hire will likely make a public announcement their offices have given the money back. Ain't that America.

A political committee for Mylan has donated to most of the Senate
 committee that has asked the drugmaker to explain price increases
 for allergy treatment EpiPen and could grill executives in a hearing 
on the matter.

The Mylan Inc. PAC has given $13,500 to four current members of
 the Senate Judiciary Committee since 2014, including $5,000 to 
ranking Democrat Patrick Leahy of Vermont and $5,000 to the 
Senate's likely next Democratic leader Chuck Schumer of New 
York. Since 1999, the PAC has donated more than $60,000 to 11 
current members of the 20-person judiciary committee. Most
 of those donations came after 2008.

This illustrates the reach of Mylan's political effort, which 
extended to candidates and political action committees in 22 
states between December, 2014, to the end of 2015. The Mylan 
PAC had $95,500 in political contributions for that period, while
 incurring $319,000 in indirect lobbying expenses as part of 
trade association membership.

The judiciary committee's chairman Chuck Grassley,
 R-Iowa, this week requested more information from Mylan about
EpiPen pricing amid furor over the its 400 percent cost increase in 
recent years. Grassley's campaign committee received a $5,000
donation from the Mylan PAC in 2006, according to Federal
Election Commission filings.

In all, the campaigns of Leahy and Schumer have received $15,000
 and $9,500 from the PAC, respectively.

Chris Goodney | Bloomberg | Getty Images

Heather Bresch, chief executive officer of Mylan
More: 
cnbc.com/2016/08/26/senators-probing-epipen-price-hike-received-donations-from-mylan-pac.

Prove It

 
There is little question that Google, the big search engine, is unabashedly covering for one of the presidential candidates in the upcoming election.

We are posting this on a Google blog and have been censored by them twice as we have previously written about here, not for anything that has to do for checking into anyone's health records since we are most likely more familiar than Google with HIPPA laws.

We noticed, though we have not been one checking the person in question's health care status on Google or any other website or search engine, that of late when we do type in that person's name for totally other reasons, how we are automatically directed to the person's campaign site. This appears a bit odd for a search engine that claims a certain sense of objectivity. It is also a very recent development.

The more MSN and outfits like Google do such the more they plant further seeds of suspicion that those records are hiding something that they don't want the public to know. There are also rumors afloat--and we emphasize the word rumors--Google was instrumental in helping the person in question with erasing certain e-mails.

Before we go any further let us note: we are in no way connected to any alt-right, left-right, right-left or such organizations or political party. If you think we are, we say to you prove it. This is were we are in this day and time. So we say to Google and anyone else, given the magnitude of the job this person is applying for, if there is nothing in those records the pubic would find disturbing or disqualifying, prove it.

Not just the American public, but the global public has a right to know.

The Time Has Come

 The Federal Reserve recently launched it own Facebook page.

That is these bureaucratic geniuses' idea about increasing their public transparency. No doubt a feeble jester to remove some of the heat they've been quite deserving of. So far from what we can gather it's been nearly as huge a flop as it's monetary policies all these seven long and growing years. A cynic might conclude, given their stumbling, bumbling record, there's little that could be too harsh to utter about this crowd.

The American Banker, a well-known industry outlet, dubbed the experiment "a disaster," according to sources. Eleven thousand likes were recorded the first week, a good sign one might think. But most of the responses have been  labeled "hates," as in what the hell are you doing to naming the bank the "root cause of all problems in the United States."

The disdain  for the Fed is alive and justifiably growing. Lowering and keeping rates artificially low for this long, they knew what choice they were making, pushing money shamefully into the hands of the wealthy and literally killing the retired, about to retire and the COLA crowd. It was a deliberate, calculating and, in the eyes of many, an unforgivable decision. We won't even bother to mention the poor and less fortunate.

Despite their expected denials they've created asset bubbles in several markets. Their interest rate policy has been a sharp officially-sanctioned petard to the left ventricle of savers. Talk abounds today about level playing fields. If this one were any more less level it would be a steep cliff. This data driven den of academics is at it again, suggesting that "the case for an increase has strengthened in recent months." Not only that, but two quick rate hikes might just be what the captain orders for dinner.

The BLS employment numbers are as phony as most politicians' promises. These numbers are simply an egress valve as in "How the hell do we get out of this mess?" As Nick Carraway points out in the first chapter of The Great Gatsby:  "Reserving judgment is a matter of infinite hope." Shuttering this miasma of monetary pretension and guidance once and for all is one hope the real people of this country in their infinite, unappreciated wisdom would be wise to demand.

The time has come.

The Harvard Mark

What do you know about the line "..at least for the foreseeable future" when you hear it?

It never becomes foreseeable. Now another Harvard elitist, economist Ken Rogoff, no stranger to dictating what the world needs now, you included, wants to do in not just your access to $100 bills, but $50s and $20s. In other words, a cashless society masqueraded as "a less-cash society" and here's that phrase again, for the foreseeable future.

These Harvard boys and girls never get tired of telling the rest of us how and what and, soon, where we ought to be living our lives. Most of this language is ensconced in how we need to protect you all from the evils that cash allows, like having any free choice in what you do with yours. So he throws a phony morsel to the anti-immigration folks--believing as is that of his kith and kin--they're too ignorant to see through his ploy.

Next he cites the benefits of "small transactions." That used to be something less than $10,000. Now it's suddenly shrunk to less than $20 bucks. If his semantic tactics were any more naked they'd be a nude model in a college art class. "There's little debate," he cites, "among law enforcement agencies that paper currency, especially large notes such as the U.S. $100 bill, facilitates crime...."  It also facilitates legitimate business transactions daily.

You can recognize these elitists by their arrogance and contempt. They constantly appear with their elementary school playground psychology and scaremongering, sure of themselves that you are so uneducated, one of their favorite terms, you will swallow it all without benefit of a chaser. What Mr. Rogoff apparently ignores is there's little debate, too, academic of otherwise, between arrogant elites like him and the rest of us. And because of people like him and his ilk, it's a growing global chasm that more and more people unlike him are welcoming. We have said this before and we'll repeat it. It's getting clearer and healthier by the day.

Six months since Larry Summers first suggested "it;'s time to kill the $100 bill," and three months after The ECB actually killed the €500 Note, another Harvard 'scholar' is reinvigorating the war on cash. Amid claims that paper money fuels corruption, terrorism, tax evasion, and illegal immigration, Ken Rogoff (ironically of "It's Different This Time" infamy) says the US should get rid of the $100 bill (and $50s and $20s) proposing, in his words, "a 'less-cash' society, not a cashless one, at least for the foreseeable future."
According to the esteemed ivory tower academic, paper currency lies at the heart of some of today’s most intractable public-finance and monetary problems. As Rogoff explains in The Wall Street Journal, getting rid of most of it - that is, moving to a society where cash is used less frequently and mainly for small transactions - could be a big help.
Rogoff's begins by stating factoids as facts...

There is little debate among law-enforcement agencies that paper currency, especially large notes such as the U.S. $100 bill, facilitates crime: racketeering, extortion, money laundering, drug and human trafficking, the corruption of public officials, not to mention terrorism. There are substitutes for cash—cryptocurrencies, uncut diamonds, gold coins, prepaid cards—but for many kinds of criminal transactions, cash is still king. It delivers absolute anonymity, portability, liquidity and near-universal acceptance. It is no accident that whenever there is a big-time drug bust, the authorities typically find wads of cash.

Cash is also deeply implicated in tax evasion, which costs the federal government some $500 billion a year in revenue. According to the Internal Revenue Service, a lot of the action is concentrated in small cash-intensive businesses, where it is difficult to verify sales and the self-reporting of income. By contrast, businesses that take payments mostly by check, bank card or electronic transfer know that it is much easier for tax authorities to catch them dissembling. Though the data are much thinner for state and local governments, they too surely lose big-time from tax evasion, perhaps as much as $200 billion a year.

Cash also lies at the core of the illegal immigration problem in the U.S. If American employers couldn’t so easily pay illegal workers off the books in cash, the lure of jobs would abate, and the flow of illegal immigrants would shrink drastically. Needless to say, phasing out most cash would be a far more humane and sensible way of discouraging illegal immigration than constructing a giant wall.

So to clarify - Cash (and Donald Trump) are at the center of all of America's and the world's ills and therefore - as a PhD who knows best - we must destroy it (for your own good)...

More: zerohedge.com/news/2016-08-27/harvard-professor-launches-war-paper-money.

Forget Zoro. It's the mark of Harvard.

EpiPen Follow Up

How do you know bad corporate behavior? Not very difficult if you care to look.

It's usually has a healthy mix of arrogance. Couple that with some insensitivity, greed and, as an article in this week's issue of Barron's points out, "executive tone deafness."

If only there were an emergency injection for executive tone-deafness.

Drugmaker Mylan (ticker: MYL), apparently unaware of the ongoing backlash against price gouging on vital medicines, raised the price of its EpiPen by 15% in May. That was two months after we recommended its battered shares (“Hurt by Valeant, Mylan Stock Could Rise 30%,” March 5) and only seven months after a previous 15% EpiPen price hike, which was rolled out immediately after a competing drug was pulled from the market.

EpiPen provides an emergency dose of adrenaline to those who can die from allergic reactions to things like peanuts and bee stings. Such allergies are on the rise. So is the list price of a two-pack of EpiPens, having jumped more than 500% to about $600 since Mylan acquired the drug in 2007. The latest hike stung more than earlier ones because drug plans have been raising co-payments, and patients have been switching to high-deductible plans with lower premiums but higher out-of-pocket costs.

This past week, just in time for EpiPen buying season as kids head back to school, the media and lawmakers have heaped scorn on Mylan.

“No one’s more frustrated than me,” Mylan CEO Heather Bresch told CNBC Thursday. But some people might be more frustrated—for example, anyone whose yearly pay hasn’t climbed 600% since 2007 to nearly $19 million last year, as Bresch’s did, on the back of all those EpiPen price hikes.

What to do with the stock? We liked it at $45. Now, at $43, we’re less enamored of it.

There's political overtones here. Big time. As we noted in a previous article. There's a global crisis afoot here. And as Dante said: the hottest places in hell are preserved for those who remain neutral in such times. You decide.

The Epipen Saga Sans Matt Damon

Here is an all too-typical story in American business. It is also one that has implications for this Trump-Clinton charade called an open, free election.

Read it and connect the dots, not those plot dots the Fed struggles with, the political connection ones and their Siamese twin, hypocrisy.  Hypocrisy is like everything else: it's only evil when it's yours not mine. Hillary recently excoriated a medical device firm, but remained circuit jammed on this affair.

While Mylan Pharmaceuticals is cashing in on the EpiPen price hikes, the inventor of the life-saving device, who made it for the public, died in obscurity.

Sheldon Kaplan, who was an engineer for NASA before inventing the EpiPen, lived a humble, middle-class lifestyle. His surviving family members say he was never paid royalties for the device he invented, and never became famous for designing a product now used by millions.

“He was not famous; he was not wealthy,” Kaplan’s 42-year-old son Michael told the Tampa Bay Times. “And I don’t think he would’ve liked to be. I don’t think he expected that.”

After working at NASA, Kaplan started working for Survival Technology, Incorporated in Bethesda, Maryland. Kaplan sought to create a device intended to quickly inject a user suffering from anaphylaxis — a potentially fatal allergic reaction — with an emergency dose of epinephrine. EpiPens are a lifesaver for anyone allergic to common foods, like peanuts, shellfish, and eggs. Before the EpiPen was invented, anaphylactic shock had to be treated by drawing epinephrine from a bottle with a syringe, which was too time-consuming.

In 1973, when Kaplan was finalizing the design concept for the EpiPen, he was approached by the U.S. Department of Defense, which was looking for a device that could quickly inject an easily deliverable antidote for nerve gas. Kaplan’s design was for a device that a person could easily stick into one’s thigh, prompting a spring-loaded mechanism to push a needle containing life-saving medicine into the user’s bloodstream.

Kaplan’s invention became known as the ComboPen, and was initially used by the Pentagon before becoming available for use by the general public several years later as the EpiPen. However, Kaplan left Survival Technology, Incorporated shortly after creating the EpiPen to become a biochemical engineer, and didn’t follow the success of his invention. He lived out his life in a typical suburban home with two modest cars in the garage.

“My husband was always looking for a new challenge, and he tended not to look backward,” Kaplan’s 71-year-old wife, Sheila, told the Times.

“[Kaplan] felt he had a legacy, that he made a difference,” Michael Kaplan said. “My dad was an extremely talented engineer, an analytical guy who delighted in solving technical issues.”

However, for Mylan Pharmaceuticals, which cornered the patent on the EpiPen in 2007, the life-saving device has made billions for the company. According to Bloomberg, a package of two EpiPens costs $415 in the US after insurance discounts. Comparatively, in France, two EpiPens cost just $85 USD. Mylan CEO Heather Bresch’s salary increased by 671 percent after hiking the price of the EpiPen by 461 percent over the past nine years.

Before her hire as CEO, Bresch — daughter of U.S. Senator Joe Manchin (D-W.Va) — was Mylan’s chief lobbyist. In November of 2013, a bill requiring all public schools to carry EpiPens for students with food allergies was signed into law by President Barack Obama. Over the following three years, as schools nationwide bought EpiPens by the truckload, Mylan implemented double-digit price hikes for the EpiPen every other quarter.

blacklistednews.com/Big_Pharma_dirty_secret A_EpiPen_was_developed with taxpayer money.


Here is a quote by the CEO she recently gave to MSM regarding the high increase in the price of her product.

Already, Ms. Bresch, 47, has moved more quickly than they did to quell public furor over prices. On Thursday, she announced that the company was increasing financial assistance to patients to reduce their out-of-pocket costs. But the company did not say it would lower the list price — which has risen to about $600 for a pack of two EpiPens, from about $100 when Mylan acquired the product in 2007.

In an interview, Ms. Bresch said the price increases on EpiPen weren’t even in the “same hemisphere” as what Mr. Shkreli did when he raised the price of Daraprim by 50 times overnight.

By her reason a 500% increase in the price has to be in the same "hemisphere" of others who have jacked up prices astronomically for their products. This is another example of just how insensitive the elite are.

Morphine Syrette

A standard part of a medic's equipment, the morphine Syrette consisted of a small tube of morphine with an attached hypodermic needle. The morphine was administered by piercing the patient's skin with the needle (after a seal was broken with a small needle) and then squeezing the tube. The Syrette itself was developed and trademarked by Squibb (currently the Bristol-Myers Squibb Company).
Although the injection of morphine straight into the bloodstream is more addicting than any other means (such as smoking or ingesting opium, from which morphine is derived), morphine has been widely used since the American Civil War as a quick means to ease the pain of injured soldiers in the field.

In an effort to prevent overdosing and possible addiction, World War II medics were instructed to attach the used Syrette to the patient's collar in order to prevent additional morphine being administered during later stages of treatment.

The method of injecting the morphine shown in the film is incorrect. Instead of the quick stabbing motion seen, the Syrette should have been inserted into the skin at a shallow angle. Considering that medics carried a limited supply of morphine, it is questionable that a commanding officer would have allowed more than one shot of morphine to be given to a dying man.

The injection above was administered to the soldier's outer thigh. So except for the regulated dose now used in the EpiPen and a matter of convenience and availability not a lot has changed.

You'll find insensitive bullies everywhere.

Say's Law says

Say's law, the 18th Century French economist, is what Say's law says it is.

Keynesianism, especially the more trumped up modern version (no oblique reference intended), says Say's Law in not what it says it is.

How often have you had someone in a discussion--think personal relations here, if you can--take off on a tangent to avoid addressing the central issue by addressing a different subject? We thought so. We all have done it.

With the Yellen Jackson Hole spectacle now behind us, the Fed and its MSM supporters still search wide and narrow for villains to explain the dumpy economic conditions that have been hanging around longer than a persistent case of mid-winter flu. Everything from consumers to now, productivity, have been saddled with the villain label. Everything except grossly failed monetary policy.

So keep that idea forefront if you read this discussion. It's a long read. But it's been a long recession.

davidstockmanscontracorner.com/why-says-law-is-always-true

Yellen Speaks

Yellen spoke.

The market listened and interpreted. Result: stocks, bonds, gold and oil are up as investors apparently focused on a particular point she made: "future policy makers may wish to explore the possibility of purchasing a broader range of assets."

 

For direction starved investors this means the U.S. dollar is low man out as the dollar weakened. A weaker dollar buoys bonds driving yields most likely lower in an already yield-famished world and intensifying the hunt for higher dividend paying equities. Emerging markets beware. Gold initially fell before turning around, up 1.5%, once traders fully digested Yellen's remarks. Recall a few days ago someone dumped a chunk of gold on the market sinking the price several dollars an ounce.

What was that all about, just taking profits and seeking better entry point? Expecting a stronger dollar and higher interest rates or was it a politically motivated trade to keep the fiat wheel of fortune turning through early November?

Though most agree it was a more hawkish speech than usual, Yellen, per her style, parsed her words enough to leave room for her usual splash of ambiguity. The usual excuse for lack of clarity is fear of spooking the market. After seven long years of spooking markets, this is a gross understatement.

On the contrary, it may turned into the old investors hear what they want to hear scenario. But the truth is the Fed has less and less wiggle room and that ups the ante that whatever they do will be a mistake. Once again, however, you read, you interpret and you decide.

The essence of her talk settled on four points:

1. Argument for rate hikes stronger in recent months
2. Gradual increases in rates appropriate
3. No longer focusing on inflation and nominal GDP targets
4. Economy approaching Fed's goals on employment and stale prices

Many of the points are still debatable. Much of the data suggests a recession is already here.

Can anyone spell of smell the term desperate. Here is a blurb from mishtalk.com.

Here are the last four quarters of GDP.

• 3rd Quarter 2015: 2.0%
• 4th Quarter 2015: 0.9%
• 1st Quarter 2016: 0.8%
• 2nd Quarter 2016: 1.1%

It’s highly unlikely the Fed believes 1% is the new normal for robust growth. So why is it so desperate to hike rates?

No Confidence
Despite wanting the hike, a Yellen slide from the Jackson Hole symposium shows the Fed has little confidence that it will hike.



For details please see Yellen Discusses “Tools”: She’s 70% Confident That Rates will Be between 0 and 4.5% in 2018.
Mike “Mish” Shedlock

Rate hike odds are dropping...

 Chart from: zerohedge.com

MSM PC

Talk about MSM bias. Here's just one more example of what happens to those who sincerely and legitimately question the status quo.

If you'er a voter and you care in the slightest about fairness and you don't get it, these people will stop at nothing to get what they want. They are beyond ruthless. Though there is more than just circumstantial evidence that the woman has serious medical problems that possibly could disqualify her for the White House, you shall not question Hillary Clinton's medical history and condition, our handpicked candidate.

One week ago, board-certified medicine specialist, TV personality and CNN employee Dr. Drew Pinsky broke the mold of conformity, when he said that he is "gravely concerned" about presidential candidate Hillary Clinton’s health, pointing out that treatment she is receiving could be the result of her bizarre behaviors. 
Appearing on KABC’s McIntyre in the Morning, Pinsky said he and his colleague Dr. Robert Huizenga became “gravely concerned….not just about her health but her health care,” after analyzing what medical records on Hillary had been released. Pinsky pointed out that after Clinton fainted and fell in late 2012, she suffered from a “transverse sinus thrombosis,” an “exceedingly rare clot” that “virtually guarantees somebody has something wrong with their coagulation system.” “What’s wrong with her coagulation system, has that been evaluated?” asked Dr. Drew.

Pinsky described the situation as “bizarre,” and said that Hillary’s medical condition was “dangerous” and “concerning”. Dr. Drew also went on to add that it was a sign of “brain damage” when Hillary had to wear prism glasses after her fall.

 zerohedge.com/news/2016-08-25/cnn-cancels-dr-drews-show-one-week-after-he-voiced-grave-concern-hillarys-health

They're not going to steal this election. Stealing is at least two classes above these folks.These are dictatorial megalomaniacs. And their intention is to run you and your country. How's that make you feel when you tuck in to sleep at night?

Overnight

Asian shares opened down Friday, taking a cue from U.S. stocks that traded lower for the second consecutive day Thursday in what was the third lightest day of the year in volume and the upcoming Jackson Hole speech by Fed Chair Janet Yellen.

Few speeches have been more anticipated by investors, especially in Asia, than this one. The WSJ reorts: The Federal Reserve’s annual economic policy symposium is a venue for the biggest meeting of central bankers world-wide. And their words invariably move Asian markets—at a time in the year when little else is usually happening. wsj.com/articles/how-the-fed-affects-asia

Most other local markets opened flat following a flat week in general asrisk averse  became the mood of late again in the see-saw between risk on and risk off trading.The Nikkei was down 0.84%, the Australian ASX 200 dropped 0.2% and the Kospi faded 0.58%. For the Nikkei, a government report just before the market opened showing a July fall in consumer prices sent ripples of concern through investors worrying abut the government's stimulus policy and its effectiveness. Chinese shares were higher with the Shanghai Composite index up 0.4%.

In the currency markets, the U.S. dollar pushed lower even after central banker comments earlier suggested higher interest rates were nearly firmly on the table. The dollar index slipped 0.1% against its basket of six currencies at 94.654, lowering gain for the  week to just 0.3%. The euro continue to tread water at $1.12910 EUR=, on track to dip about 0.3 percent on the week with the Australian dollar edging up slightly0.2% to $0.7630.

Oil prices in the U.S. moved  higher to $47.35 a barrel, after rising 1.0% Thursday and news of the U.S.-Iran tensions in the Gulf and concerns abut Yell"s speech sending the dollar lower if it doesn't sooth investor concerns.Gold was trading at $1323.60, up $2.00.