Yet this little drug that drags the dollar pales in comparison to the Big D (big drug problem) spelled PHARMACEUTICALS.
According to an article at Mercola.com, legal drug companies are billing the U.S. public for at least $1 trillion.
Here are excerpts from his article:
“This is, without any doubt in my mind, one of the biggest scandals in the history of the United States. This Medicare drug plan fiasco enriches pharmaceutical companies, fleeces taxpayers, and forces millions of older Americans to accept inferior drug coverage — while doing nothing to address the real reasons prescription drugs cost so much. The financial impact of this legislation on taxpayers cannot be overstated. Government projections that the drug program will cost $400 billion over the next decade cannot be trusted, as existing Medicare programs cost four times more than was estimated when they were created. The likely cost is at least $1.5 trillion over 10 years, and much more in following decades as the American population grows older.
Dr. Mercola’s Comment: “I am absolutely SHOCKED that this ever made it to national TV on Sixty Minutes. It is surprising that the drug industry did not have enough influence over CBS to prevent this from being aired. This is, without any doubt in my mind, one of the biggest scandals in the history of the United States. The drug companies are billing the U.S. public for AT LEAST $1 trillion. The late Senator Everett Dirksen from Illinois was fond of saying when he was referring to the Defense Department budget, ‘A billion dollars here, a billion dollars there and before you know it you are talking real money.’ Well folks, we are not talking about $1 billion, we are talking about $1,500 BILLION.
“Interestingly, the smart person’s favorite candidate for the U.S. presidency, Ron Paul, commented on this bill when it was initially introduced four years ago. If you don’t believe me then PLEASE read an analysis by Jack Schreiber, MD, from over 40 years ago when the original Medicare legislation was introduced. Dr. Schreiber was a member of the American College of Physicians and Surgeons (AAPS) and wrote this piece for their journal. AAPS is the only professional medical organization I belong to as they are firm believers in freedom.
“Most Profitable Industry in the World Americans currently pay the highest prices in the world for prescription drugs. Canadians, Europeans, and even citizens of Mexico pay only about one-half to as little as one-tenth the price paid by Americans for the very same chemicals. Drug companies actually import many of the raw materials used in drugs from other countries, meaning that some U.S. medicines are already sourced from countries like the U.K. and Germany.
“Drug companies mark up their prescription drugs as much as 569,000% over the price of the raw materials. A typical markup is more in the 30,000% – 50,000% range. Retailing pharmaceuticals is hugely profitable. There is no business in the world with more profit built into the retail price of the product. How many business owners would like to have those profit margins? The purpose of restricting Americans from buying drugs from other countries is to enforce a medical monopoly in the United States, forcing consumers to purchase drugs at the highest prices in the world, further padding the profits of powerful and influential pharmaceutical corporations who exert strong influence over the U.S. Congress.
“The United States simply cannot continue along this path without suffering serious economic consequences. We are currently spending more than $2 trillion on a health care system that is terribly broken and heading for $3 trillion by the end of the decade.”
The problem is that we have not seen anything yet!
In six years the largest demographic wave in history (baby boomers) will start to use the government’s pharmaceutical plan. Unless there is change, this will create one of the greatest transfers of wealth of all time. The money will go from the middle class (who are growing poorer) to the pharmaceutical firms. These companies will drain the retirees income in two ways.
First, it will simply take their money through overpriced drugs. Second, it will take even more money from the government (the government does not have), which will cause the US dollar to fall even more.
There are four things each of us can do to fight back.
#1: Learn and enjoy natural ways to remain healthy without taking drugs.
#2: Invest outside the US dollar.
#3: Invest in real estate (which will rise with inflation).
#4 Earn outside the US dollar.
Until next message, good global investing!
We look at how to earn and invest outside the US dollar at our next two International Investing and Business Made EZ courses.
Join us September 14 – 16, 2007 in North Carolina, https://www.garyascott.com/nccourse
Come visit us at our Blue Ridge farm during the September course. Enjoy its beauty. Here is a shot of the Bee Balm growing along the creek at the farm that one of our recent guests photographed. We use this excellent and ancient herb for afternoon teas.
Or come to Ecuador November 9-11. See https://www.garyascott.com/catalog/IBEZec/
One reason we love Ecuador is all the wonderful products that can be exported. Here is a shot of some art we have been bringing back. Original art in the US is now so expensive that this type of painting can be sold for excellent markups. We continually look at import export opportunities in our Ecuador Living updates. See how to get these updates at https://www.garyascott.com/catalog/ecrep/
Here is our schedule of Ecuadorian courses for the balance of 2007.
Sept. 26 – 30, Weds. – Sun. Condensed Super Thinking + Spanish with Free Oct 1 – Mon. Andes Extension & Real Estate Tour.
Nov. 9 – 11, Fri. – Sun. International Business & Investing Made EZ.
Nov. 12 – 14, Mon. – Weds. Andes Extension & Real Estate Tour.
Nov. 16 – 18, Fri. – Sun. Andean Shamanic Tour.