Day: January 24, 2011

POLITICAL: Add Gooferment Pharma to the list!

Published on by reinkefjLeave a comment

http://www.denverpost.com/nationworld/ci_17171570?source=rss#ixzz1Bsu0mP6h  

NEW MEDICINES
Federal agency to spearhead new drug-development center
By Gardiner Harris The New York Times
POSTED: 01/23/2011 01:00:00 AM MST

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The Obama administration has become so concerned about the slowing pace of new drugs coming out of the pharmaceutical industry that officials have decided to start a billion-dollar government drug development center to help create medicines.

The new effort comes as many large drugmakers, unable to find enough new drugs, are paring back research. Promising discoveries in such illnesses as depression and Parkinson’s that once would have led to clinical trials are instead going unexplored because companies have neither the will nor the resources to undertake the effort. Drug companies have typically spent twice as much on marketing as on research, a business model that is increasingly suspect.

The initial financing of the government’s new drug center is small compared with the $45.8 billion that the industry estimates it invested in research in 2009. The cost of bringing a single drug to market can exceed $1 billion, according to some estimates.

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Now, add to Gooferment Motors, Gooferment Electric, and all the other Gooferment entities like Amtrak, Post Office, Sallie, Freddie, Fannie, etc. etc.!!!

When does it end?

When they have taken over everything?

Worked so well in the USSR!

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MONEY: Gold and silver requires no bureaucrats

Published on by reinkefjLeave a comment

http://dailyreckoning.com/taleb-the-fed-will-be-gone-in-25-years/#ixzz1BPAKvHfu

Taleb: The Fed Will be Gone in 25 Years
By Rocky Vega

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Stockholm, Sweden – In the video below, Nicholas Nassim Taleb, author of The Black Swan, is interviewed about the economic crisis by the National Journal’s Matthew Cooper for the Washington Ideas Forum at the Newseum in Washington, DC. Taleb speaks openly about his disdain for Geithner, Krugman, and a raft of other “economists” that failed to see the crisis coming and don’t understand how to respond to it. Here are a few of his thoughts, paraphrased…

* If someone failed to predict the economic crisis before it happened then I don’t want to hear what that person has to say. If a person was able to see the crisis coming, then I want to hear what they have to say.

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* In the economy 25 years from now anything fragile will break, everything we’ve bailed out will break and it will cost us more. The Fed will be gone in 25 years because it “fragilizes” the country, and it will be gone and replaced by more organic things. The Fed is what got us in crisis, by trying to manage the economy and by pushing hidden risks that kept accumulating

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How true! If you got it wrong before, why should we listen to you?

The great advantage of commodity money (i.e., typically silver and gold), as opposed to fiat money aka “It’s money because the Gooferment says it is” (e.g., the United States “dollar” aka Federal Reserve Banknote, the Euro, the Yuan), is simplicity.

There’s no expensive bureaucrats at the Treasury or cartel members at the FED to pay for.

Why did we ever let them slip this one by us?

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