Whether few billions more a year Facebook earns despite the fact the misinformation it spreads is killing our democracy, or one drug company Biogen charging so much for one medication that it is impacting over 61 million Americans on Medicare, both cases demonstrate that lawless capitalism is a monster that needs slaying. Lawless capitalism is slowly turning this empire into dust.
Our country, no matter how powerful and rich, cannot afford the onslaught of lawless capitalism as its gnaws on its most valuable assets to eventually leave America a carcass. If we cannot control this runaway train of greed, we will eventually become another third-world country. Remember that all empires come to an end, and it seems that our lawless capitalism is going to be the culprit in killing the American experiment.
One company is swindling the US Government, which will end up costing 61 million Americans money for a medication that does not seem to work.
THE BEST PART
Biogen new Alzheimer medication Aduhelm will cost 7 million Americans $56,000 a year. Ouch.
The problem, though, is that a non profit think tank determined the drug should cost no more than $3,000 to $8,400 per year. In other words, big pharma Biogen is swindling 61 million Americans an additional $21.60 a month that is added to their Medicare Part B just so it can book obscene profits. Folks, one unusually high price of one medication is swinging the whole Medicare pendulum to the tune of $259 a year for 61 million Americans. If that is not lawless capitalism, then I am a marauder nincompoop.
But that is not the best part.
The best is that the FDA approved the drug even though its outside health advisers did not see its value. In other words, this medication might not work as promised. Do we live in a broken country or what?
One company is swindling the US Government, which will end up costing 61 million Americans money for a medication that does not seem to work. There is no other country in the world where this happens. None. Except in the lawless capitalist society we built and which has now turned into a monster.
Even the Veterans Health Administration announced that it would not be covering Aduhelm because of safety concerns. It also cited the “lack of evidence of a robust and meaningful clinical benefit.”
Not until people fight on the streets and the stock market collapses, will someone sound the alarm.
ANY WONDER WHY REPUBLICANS HATE BERNIE SANDERS?
Senator Bernie Sanders was not going to let this slide. He wrote the President a letter in which he said:
Our country is experiencing lawless capitalism at its worst. All because of the Ronald Reagan era of letting big corporations write our own laws. Every year it seems to peek just enough for Congress to act, but every year Congress turns its blind eyes to the excesses of big business in return for their donations.
Not until people fight on the streets and the stock market collapses, will someone sound the alarm. Until then, the trend will likely continue until people can no longer afford to pay for our state of lawless capitalism.
Incidentally, Biogen is a donor to the loathsome Senator Kyrsten Sinema.