The Biden Economy

[Chicks]

The Financial Burden of U.S. Insulin Pricing on the American Diabetic Community

https://www.charityrx.com/blog/the-f...unity%EF%BF%BC

Scroll down to the map. Notice the concentrations in the Deep South (where they eat lots of greasy food and stay indoors all Summer), and Red counties in other parts of the country.

Further down, notice the percentage of people without health insurance. Again, the Deep South suffers. These Red voters are killing themselves.

[whell]

Originally Posted by finnbow

Yes and I'm not generally in favor of such. However, the price gouging should be obvious to anyone with a brain (this may exclude you).

True enough. But that tells the what, not the why.

Early in the 20th century, when insulin treatments were sourced from animal pancreases, insulin was expensive to produce. It worked will in most patients, but treatment results were inconsistent and some patients didn't tolerate this form of insulin well.

Most insulin on the market today is so called human insulin, meaning that the human gene is responsible for making insulin when inserted by the manufacturer into bacteria or yeast, which then produce human insulin proteins. This production method works just as well as the original method of isolating insulin from animal pancreases, and is far more cost-efficient.

However, ramping up production for manufacturing insulin in this manner is expensive. There are 3 pharma companies producing most of the insulin in the US, it's pretty cost prohibitive for other companies to enter this space. Also, there are reports that some patients have problems with human insulin.

Is animal sourced insulin still available in the US? No, though it remains available in other countries around the world, albeit in decreasing quantities. The FDA worked with manufacturers to get them to voluntarily remove animal sourced insulin from the US market. The result is that there are 3 pharma companies with 90% of the market, and no market incentive to reduce pricing. Further, that monopoly has been essentially protected by the FDA's policy which reduced, then eliminated the availability of insulin from other sources.

There is a third type of insulin: "biosimilar" or synthetic insulin. The human body reacts to synthetic insulin in the same way, and it's cheaper to produce. Market availability is currently quite limited, since the FDA approved synthetic insulin only last year.

Those in favor of price controls for insulin are focused on the right problem but not the right solution. The solution would be: reopen the market in the US to the availability of insulin from as many sources as possible.

[Chicks]

White House projects record drop in budget deficit
Administration officials touted the president's policies for speeding up the economy recovery and shrinking the budget gap.

https://www.google.com/amp/s/www.pol...ficit-00053340

Gee, the largest drop in the deficit ever. How will Faux “News” spin this excellent news for you MAGAMorons, Whell?

[Dondilion]

Fed Chairman said that price stability is his priority.

[bobabode]

Originally Posted by Dondilion

Fed Chairman said that price stability is his priority.

Sounds good. Groceries are getting expensive.

[Rajoo]

Holy shit, we are all screwed.

The Radical Democrat Soshialist Biden Economy is at it again, adding jobs 20 months in a row. WTF is wrong with Biden? Is he still sleeping at the wheel? Wake him up and lets have a round of tax cuts to stop our economy from growing.

U.S. economy hits 20-month streak in strong job growth despite inflation

The labor market has more than recovered pandemic job losses, according to new data released by the Bureau of Labor Statistics, powering an economy through ominously high inflation.

https://www.washingtonpost.com/?relo...=1662132908823

Or is this all Fake News from WaPo, lying bunch of Soshialist Liberals.

[bobabode]

Originally Posted by Rajoo

Holy shit, we are all screwed.

The Radical Democrat Soshialist Biden Economy is at it again, adding jobs 20 months in a row. WTF is wrong with Biden? Is he still sleeping at the wheel? Wake him up and lets have a round of tax cuts to stop our economy from growing.

U.S. economy hits 20-month streak in strong job growth despite inflation



https://www.washingtonpost.com/?relo...=1662132908823

Or is this all Fake News from WaPo, lying bunch of Soshialist Liberals.

Love this paragraph.
"The tight labor market, combined with inflation at 40-year highs, has also fostered an environment ripe for union activity, as workers struggling to pay for gas, food and housing have more power to make collective demands of employers facing widespread labor shortages. The National Labor Relations Board has reported a 56 percent uptick in petitions for union elections in the first nine months of fiscal year 2022 compared with the prior year." WP

Buy Union made!

[whell]

https://www.conference-board.org/research/us-forecast

While we do not believe the US economy is currently in recession - due to strength in a number of sectors and the extremely tight labor market – we expect that a broad downturn in the economy is on its way. Given the greater-than-expected weakness seen in Q2 2022 GDP data we are downgrading our Q3 2022 forecast from 0.5 percent (QoQ, SAAR) to zero percent. This downgrade is associated with our expectation that consumption will continue to soften in the third quarter due to rapidly rising interest rates and elevated inflation. Furthermore, we expect both residential and nonresidential investment to contract, and private inventory expansion to continue to slow.

The weakening economic growth seen over the course of 2022 coupled with persistently high inflation readings are consistent with a stagflationary environment. While easing supply-side constraints and a more hawkish monetary policy will help to cool inflation over the coming quarters, rising interest rates will tip the US economy into a broad-based recession before year-end. This contraction will impact extremely tight labor markets and drive the unemployment rate higher. We expect the coming recession to be relatively short and somewhat mild, but that the US economy will emerge from the slowdown in 2023 still grappling with inflation well above the Fed’s 2-percent target. This period will also exhibit stagflationary characteristics – though not as severe as those seen presently.

[Chicks]

Stronger than expected momentum in the Biden economy just made Bank of America revise its recession forecast

https://fortune.com/2022/09/09/bank-...biden-economy/

After two consecutive quarters of negative GDP growth, Bank of America said the third quarter will show a 1.1% quarter-over-quarter rise in GDP, owing in large part to a “substantial narrowing in the trade deficit.” They’re also expecting “solid gains in real consumer spending in August” as a result of the 12% drop in gas prices last month and “softer than expected” inflation data.

“Taking these and other signals into account, we have revised our outlook for the U.S. economy in favor of a prolonged expansion, more tightening from the Federal Reserve, and a later downturn in labor markets,” Gapen and his team wrote.

Bad news for idiot MAGAMorons. Great news for sensible folks.

[RickeyM]

The MAGA's will just deny reality and cry FAKE NEWS!