OK, so here's the latest exemplar of how and why our healthcare process is screwed up. And where a lot of the money goes.
Immunomedics is a New Jersey pharma which has been around since 1982. As of market close today, its market cap was $3.44 Billion. Now, this company has never gotten a drug approved. Let that sink in for a second. Tomorrow was to be the decision day from FDA for its latest attempt to get an approval. Well... FAIL!! A day early and an approval short. Rejected. They released the news after both regular hours and after-hours trading.
I doubt it'll be worth north of $3,000,000,000 tomorrow morning.
What happens to capital when there's no more labor to replace?
Essays on topics economics: monopolists, oligopolists, and oligarchs aren't better decision-makers for the society just because they's rich and they ain't the damn gummint.
Gutting the Civil Service will put Trump where Garfield ended up
The Kleptocracy of Muskistan, Unelected, Welcomes You
The world is not linear.
-- Dr. McElhone/1974
[T]he massive push to relocate federal jobs outside the Beltway comes with the risk of kneecapping agencies through the loss of experienced workers and bogging them down in logistical minutia.
-- Curt Devine/2024 [that's the point: make the Damn Gummint incompetent, then destroy it because it's incompetent]
-- Dr. McElhone/1974
[T]he massive push to relocate federal jobs outside the Beltway comes with the risk of kneecapping agencies through the loss of experienced workers and bogging them down in logistical minutia.
-- Curt Devine/2024 [that's the point: make the Damn Gummint incompetent, then destroy it because it's incompetent]
There's a fine line between one person and 10 people with H5N1. By the time we've detected 10, it's probably too late.
-- Rick Bright/2024 [it's gotten worser, and worser, and worser, and worser]
-- Rick Bright/2024 [it's gotten worser, and worser, and worser, and worser]
Buck {Showalter] has always reminded me of something his father once told him:
"The jobs that are easy don't pay very well."
-- Mike Lupica/2023 [and don't qualify them to run anything; sub-GED knuckledraggers take note]
-- Mike Lupica/2023 [and don't qualify them to run anything; sub-GED knuckledraggers take note]
-- Marriner Eccles/1951
This Week's thought
In fact, the number of full-time federal workers has been relatively static, within a few hundred thousand civilians, since the 1960s. ... [C]ontractors frequently end up costing the government more money. -- Zachary B. Wolf/2024 [ya know, like The Musk Ox]
See you next week in a brand new show©Heckle and Jeckle
About Me
Who I Am
Left wing economist since before it was fashionable
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