by Karl Denninger, Market Ticker:
Simply put what we’re dealing with here is not “Conservatism” at all: It is instead the promotion of violent, at-gunpoint thuggery in which refusal means death by withdrawal of that which you allegedly need to survive.
A coalition of 55 conservative groups has written a letter calling on the Trump administration to withdraw a proposal to lower drug prices, warning of creating “price controls.”
The letter from the groups represents a break between President Trump and conservative allies over the drug pricing proposal unveiled in October, which departs from the traditional Republican position on drug prices.
The letter warns that the administration’s proposal “imports foreign price controls into the U.S.”
It was signed by leaders of prominent conservative groups such as Americans for Tax Reform, FreedomWorks and the American Conservative Union.
These 55 groups are Racketeers. They promote not transparency, price discovery and a free market but rather monopolistic control over people’s lives.
Technological advancement always makes something of equivalent kind and quantity cheaper. It is the power behind GDP advancement in the form of what is called productivity.
And in every place where you do not find it in America today and for the last 30 years you will find at-gunpoint command economic features that share one common thread: They’re illegal under 100+ year old anti-trust law.
Where that won’t do industries have actually gone and gotten special exemptions. The drug industry, however, does not have one — except in one place, which is in the prohibition of “reimportation” of drugs.
Let’s be clear what we’re talking about here: The purchase of a substance that is properly and honestly labeled, is deemed safe and effective by our government, by someone who happens to be across an arbitrary line on a map and who then desires to transport and sell it.
In other words legislated market controls which is exactly what these “55” claim to be against.
Further, there is the example of a Naloxone similar drug in an “auto injector” for opioid overdoses that was jacked up by some 600% in price but only for some people — those with insurance. This too is illegal under Robinson-Patman which says that for a physical item that travels in interstate commerce (so the Federal Government has jurisdiction) pricing differentials between buyers of like kind and quantity, where the intent is to lessen or dissuade competition, are illegal.