Showing posts with label big pharma. Show all posts
Showing posts with label big pharma. Show all posts

Sunday, May 24, 2020

WEEKEND WRAP: Governments Throw $$$ Billions At Drug Companies; Mall Rents Go Unpaid; Unemployment Soaring; Stocks Higher

Spurred by an announcement by Moderna (MRNA) that early trials of a possible COVID-19 vaccine were positive, stocks rode a big Monday rally to better than three percent gains across the major indices. All but the NYSE Composite closed at 11-week highs, the Comp. falling just points short.

The irony of the rally was that Moderna, a company that has never made a single dime of profit (they've lost $1.5 billion since 2016), closed last Friday at 66.68, finished Monday at an even $80 per share, but closed out the week at 69.00. In between, there were some big paydays for insiders. If that wasn't proof enough that the market is a crony capitalist playground, then something's wrong with people's world views.

It was the ultimate slap in the face to the American public by the rich and connected, the one-percenters, who made a show of fake news over something ultimately immaterial. It was a very sad display of fascism in practice.

To make matters even worse, Moderna received up to $483 million in federal funding to accelerate development of its coronavirus vaccine. Governments around the world are throwing money at well-heeled companies working on a vaccine. In the United States, the Biomedical Advanced Research and Development Authority (BARDA), a federal agency that funds disease-fighting technology, has announced investments of nearly $1 billion to support coronavirus vaccine development and the scale-up of manufacturing for promising candidates. Johnson and Johnson, Sanofi, and GlaxoSmithKline are among about 100 companies being funded for research toward a coronavirus vaccine by countries from Canada, to Singapore, to France.

The US government committed up to $1.2 billion to fund Oxford University and drug maker, AstraZeneca, in a race to produce a vaccine by October, it was announced on Friday.

The quickest a vaccine has ever been developed is four years from phase one trials to working vaccine on the market. No vaccine for a coronavirus has ever been successfully developed. SARS and MERS are variants of coronaviruses. There are no vaccines to protect against them.

This is just the common folly of the age in which we live. Instead of spending time explaining to people how to strengthen their individual immune systems - the best defense against all diseases and viruses - world governments spend taxpayer dollars funding companies that don't need any extra money. It's an incredible waste of capital, but you can bet the executives of the Big Pharma companies (one of Washington's biggest lobbying groups) and high-ranking scientists are making bank on your dollar.

Meanwhile, back in the real world, the "official" unemployment figure is 14.7%, with more than 36 million Americans out of work. Wall Street continues to party while Main Street gets the shaft, as usual. Lockdowns and social distancing restrictions have blown a hole in small businesses, many of which will never recover and will be bankrupt within months, if not already.

Malls are going broke. The biggest mall in the country, Minnesota's Mall of America, is two months delinquent on it's $1.4 billion loan. Other mall landlords report collecting less than 25% of rent due from April and May. With June approaching quickly, many retailers will be three months behind on rent payments and subject to lockouts, forced liquidations, and other draconian measures written into their leases.

Bankruptcies are mounting and delinquency notices are flying around everywhere. With retail operations - from clothing stores to hair salons to baseball card shops and everything in between - suffering as a result of the nearly nationwide two-month lockdown, many employees who were furloughed will not have jobs to go back to when everything begins to get back to some semblance of normal. That means extended unemployment for millions, poverty and homelessness set to soar.

The federal government's additional $600 a week in unemployment benefits via the CARES act will run out at the end of July, just in time for back-to-school sales that may not happen because some schools won't be reopening and many colleges are planning to allow only limited on-campus activity, with many classes offered via the internet only.

The world has changed, and is changing, though it doesn't appear to be for the better, at least at first blush.

Gold and silver caught bids on the paper markets this week with gold trading as high as $1756.90 per ounce, closing out at $1732.70 bid. Silver was an even better performer, ripping through the $17 per ounce price on Monday, trading as high as $17.57 per ounce before settling in at $17.19 on Friday.

In the physical market, premiums have begun to ease after an incredible supply-demand tug-of-war. Dealers are still facing shortages of certain items, but on eBay, at least, prices were lower for the week, although still well above spot prices.

Here are the most recent prices (Sunday, May 24) for specific items on eBay:

Item / Low / High / Average / Median
1 oz silver coin / 22.74 / 38.98 / 30.72 / 29.60
1 oz silver bar / 25.45 / 39.50 / 29.84 / 26.98
1 oz gold coin / 1,855.00 / 1,985.00 / 1,894.48 / 1,894.27
1 oz gold bar / 1,839.93 / 1,987.95 / 1,869.38 / 1,855.52

Oil was up, treasuries were fairly flat for the week. It's a beautiful holiday weekend, so we're calling this a wrap, right here.

Get out and get some sun!

At the Close, Friday, May 22, 2020:
Dow: 24,465.16, -8.94 (-0.04%)
NASDAQ: 9,324.59, +39.71 (+0.43%)
S&P 500: 2,955.45, +6.94 (+0.24%)
NYSE: 11,331.97, -19.63 (-0.17%)

For the Week:
Dow: +779.74 (+3.29%)
NASDAQ: +310.03 (+3.44%)
S&P 500: +91.75 (+3.20%)
NYSE: +384.65 (+3.51%)

Thursday, April 23, 2020

Neo-Feudal Living Through Mainstream Media Propaganda Financed By Big Pharma

Everything is fake these days, especially financial news, which spills over boundlessly into politics and society. The fact that Big Pharma is the main funding source for mainstream media brings into question everything about the COVID-19 pandemic and government and media response.

In case there's any doubt, consider the recent news reporting on a Veteran's Affairs hospital study which concluded that Hydroxychloroquine - a generic drug used to treat malaria - is not a reliable treatment for coronavirus. Being mindful that the treatment, combined with Azithromycin in some cases, and in conjunction with zinc in early stage COVID-19 sufferers, has proven effective in shortening the length of time from infection to recovery, it's difficult to buy the claims by the study's authors, though that's exactly what the anti-Trump, big pharma-owned mainstream media did.

Never mind that President Trump was a big fan of Hydroxychloroquine, or that the research was neither done with random sampling nor was peer reviewed. The media just took the bait and ran with it, ostensibly in favor of the Gilead Science's more expensive proprietary drug, remdesivir, which is about to undergo real clinical trials.

Bear in mind that the mainstream media, especially television news, is sponsored mainly by Big Pharma. In between the two-to-four minute bouts of propaganda, commercials for drugs to treat everything from cancer to strokes to foot fungus are paid for by the likes of Pfizer, Roche, Novartis, Johnson and Johnson, Merck, Sanofi, AbbVie, Glacxo Smith Kline (GSK), Amgen, Gilead Sciences, and others. Here's a list of the Top 50 global pharma companies, which are also among the leading political donors.

The use of Hydroxychloroquine in conjunction with zinc and azithromycin for treatment of COVID-19 patients has been the focus of French physician and microbiologist, Dr. Didier Raoult,

Rauolt's twitter feed - mostly in French - is very active and strongly in favor of the treatment, which he claims limits the severity of the disease and shortens recovery time.

In the United States and in many developed countries, the mainstream media outlets, plus Google and Facebook, have been actively censoring Dr. Raoult's findings, the most recent of which involved successful treatment of 3000 patients, resulting in a death rate of 0.5 percent.

Raoult has extensive experience in treating viruses and getting positive results and is highly respected within the scientific community. His work spans decades and is frequently cited in leading medical journals. So, why does the mainstream media downplay or censor the importance of his work? Because hydroxychloroquine is very inexpensive (about 10¢ per dose) and Big Pharma can't make any money off generic cures.

Peak Prosperity's Dr. Chris Martenson breaks down the phony VA "study" and cites scientific evidence to conclude that the VA's review of patients in latter stages of the disease was "garbage." in this exceptional video. You are strongly urged to watch it and make up your own mind.

Getting to recent developments, the Labor Department reported minutes ago that another 4.4 million Americans filed for unemployment benefits in the past week, bringing the five week total to over 26 million.

Meanwhile, the US economy is floundering, as are the economies of almost all developed nations. The global depression, brought to you by the Federal Reserve in conjunction with the US federal government, the fake mainstream media and Big Pharma, is in full bloom and will affect life p in varying degrees - for billions of people for years.

Buy gold and silver if you can. Also consider bitcoin or other cryptocurrencies and getting off the electrical grid as much as possible, returning to a simpler lifestyle and out of the modern-day, neo-feudal rat race.

Finally, this clip from Family Guy offers metaphor for how many Americans (especially seniors who didin't file taxes in 2018 or 2019 -- think: poor people) feel about Treasury Secretary's five-week old promise to have $1200 checks in the hands of Americans "within two weeks."

At the Close, Wednesday, April 22, 2020:
Dow: 23,475.82, +456.94 (+1.99%)
NASDAQ: 8,495.38, +232.15 (+2.81%)
S&P 500: 2,799.31, +62.75 (+2.29%)
NYSE: 10,908.56, +202.12 (+1.89%)