pharmaceuticals

The Revisionist National Income And Product Accounts

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The Bureau of Economic Analysis has revised the National Income and Product Accounts all the way back to 1928.  With the release of Q2 GDP, Gross Domestic Product magically added $559.8 billion to 2012 GDP in current dollars.  Additionally the chained dollar base year was changed from 2005 to 2009, a very funky year where some deflation from 2008 was still present.

Vampire Economics?

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This story caught my eye. The New York Times outlines how each blood donation, paid out at $30 a pop, generates $300 in pharmaceutical products.

Blood donation centers concentrate in extremely poor areas, with high health issues including drug addiction.

So, get this, Mexicans are crossing the border twice a week to donate blood, to earn $60 a week. It's more money than what they can make on wages in Mexico!

Twice a week, Ms. Delgado, the mother of three young girls, walks across the bridge from Piedras Negras, Mexico, where she lives, to Eagle Pass and enters a building just two blocks from the border.

Inside, for about an hour, Ms. Delgado lies hooked to a machine that extracts plasma, the liquid part of the blood, from a vein in her arm. The $60 a week she is paid almost equals her husband’s earnings.

“This is like another income,” she says.

Big Pharma to make billions, thanks Obama and Congress!

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No, you did not enter a time warp and read about President Bush and the Republicans passing a corrupt prescription drug bill written by lobbyists. Yes, it's 2009. You ready for this?

Pharma Deal With White House On Course To Net Industry Billions:

The deal struck between the pharmaceutical lobby, the White House and Senate Democrats has drastically improved Big Pharma's expected profits, a private industry report finds.

IMS Health, a company that supplies the pharmaceutical companies with sales data, predicts that new health reform legislation -- combined with a projected upswing in the economy and other changes in the pharmaceutical industry -- will result in a net gain of more than $137 billion in total market sales over the next four years.

Read the entire Huffington Post article for the response from PHrMA, the pharmaceutical lobbyist group.