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2018-07-16 13:06 by Karl Denninger
in Company Specific , 96 references
[Comments enabled]  

There's utterly no reason to "shop" on so-called Prime Day, says this column.

As a long-time defender of shopping holidays like Black Friday, and as an avid shopper, I should be the natural audience for Amazon’s “Prime Day.” Yet despite being a lover of deals, I don’t do any “Prime Day” shopping.

Every year the hype around the sale swells and the actual day is a big disappointment.

Well that's because you fail to understand the purpose of "Prime Day."

It's not to offer you some sort of deal on things you actually want or need.  It's to psych you into paying upward of $100 a year for something you don't need -- an intangible membership that brings nothing of real value beyond "faster, sometimes" shipping, along with conning you into placing spying devices with always-active microphones (or worse, cameras) in your house!

In other words it's simply a sop to get you to fork up money for something of no value or worse.

Why shouldn't Bezos take advantage of people being stupid?  If you want to shower money on the guy who has done more to screw US small business than anyone else in the history of the country, and has reaped billions by ****ing Americans out of their jobs and companies, well have at it.

Frankly were I a small businessman I'd find a way to discover if a potential customer was a PRIME member and, if they were, charge 'em an extra 20% on everything they bought in my store.  Why not when that sort of price discrimination is not only legal the exact same sort of thing is used by Spamazon to screw American businesses in order to favor Chinese ones!

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2018-07-16 09:19 by Karl Denninger
in Macro Factors , 129 references
[Comments enabled]  

This had better not be a trend.

There were no categories this last month that saw monthly increases in sales.  Zero.

Non-store retailers, that is online commerce (Amazon) was down nearly 5%.

Of course when the magic "adjustment" was made this disappeared in most of the categories, but May -> June is not a particularly interesting month in terms of seasonality.  It's not like there's a Christmas (or other serious spending-improving) holiday in May where there is not in June, in a place that would impact retail.

We shall see what July brings but this report is soft -- and if July is likewise soft then there's real trouble.  Remember that this month contains the non-store retailer fake news holiday that Spamazon calls "Prime Day", so it should be up massively over the June numbers.

Given the 4.7% drop last month.... it had better be.

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2018-07-16 08:50 by Karl Denninger
in Health Reform , 130 references
[Comments enabled]  

There comes a point where you must conclude that Donald Trump never meant a word he said about breaking the medical monopolies -- or fixing the underlying problem with health care in the United States, which has nothing to do with insurance and everything to do with cost.

He could have directed Jeff Sessions to go after the entire industry under 100+ year old existing law, 15 USC, which make a criminal felony any attempt to monopolize trade, fix prices or restrain competition.

He could tell Congress to send to his desk a bill removing all constraints on "reimportation" or any drug that is FDA approved, irrespective of the source nation -- and that he won't sign anything else from Congress until that appears on his desk.

But he hasn't done anything of the sort.  He likes to take credit for Pfizer's "rollback" of intended price hikes, but reality is that this tiny little concession in the grand scheme of things means zippity do-da, while the screwing goes on daily in both hospitals and the pharmacy.

The simple reality is that nearly everyone would not need "health insurance" for anything other than major catastrophic events if this crap was stopped.  A routine childbirth would cost under $1,000.  Insulin would cost less than a pack of cigarettes.  Virtually all medical treatment could be bought for cash by all but the poorest Americans.

Look at this record -- drugs that have been off-patent for decades, approved in 1950 and available for under $10 around the world -- but $38,892 here.

Or try insulin.  Over less than 20 years it has gone up in price by about 700%.  Is it a different drug?  No.  It's the same drug.  Is insulin new, novel or under patent?  No.  Why did this happen?  Because there are basically two formulations and the companies have raised prices in lock-step since the second was introduced with an ever-increasing scale over the last few years.

This is black-letter illegal and yet there has not been one indictment leveled but there has been billions stolen from Type 1 diabetics who have exactly zero choice on buying said drug.

If the government will not do their ****ing job and stop this then the FDA must be abolished by whatever means are necessary along with every law and regulation pertaining to same.  In this world of the Internet where anyone with a cellphone can research whether some compound has been studied, what it's properties and risks are, and decide for themselves to take the risk (or not) of consuming same for some condition if the government is going to do nothing more than enforce and enhance a racket that screws everyone out of billions then the enablers of that racket must be destroyed and the racket torn down.

There are already existing laws sufficient to do so.  We need no new ones.

But if we cannot expect actual faithful enforcement and execution of the laws from our government then we need a new government.

Trump promised to fix this and he lied.  Either crap or get off the pot Donald.

It's that simple.

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2018-07-16 07:00 by Karl Denninger
in States , 266 references
[Comments enabled]  

One common lament is that there are no politicians who really give a crap about the health care explosion and are in a position to actually do something about it.  Like, for example, being the Attorney General.  Or President. Or a House Member.  Or a Senator.

That has now changed, with the emergence of Rod Hanscomb

How much less expensive and more efficient would the health care system be if we were the most entrepreneurial government in the country, free from federal influence? Often we forget that every state is an independent Republic (or Commonwealth) with its own constitution. We have enormous legislative powers that we often overlook, and are not bound to Federal programs such as Medicaid (it is voluntary).

Yes, and you have executive powers too.  Like to arrest monopolists and throw their asses in prison.

Well lookie what we have here...

So folks, do we have a winner winner chicken dinner state for everyone to move to?

I'm ready.

Let's see if the people of Connecticut are.

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Come and get it!  On sale but for a limited time so act now!

Email for details or check out the other on-sale pieces here.

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