This Month in Late Capitalism

Transcribed whole from the November, 2018 issue of In These Times magazine and offered without comment.


--- After Nostrum Laboratories quadrupled the price of a critical antibiotic to $2,392 per bottle, the company's founder and president, Nirmal Mulye, claimed that charging the highest possible price was a "moral requirement." Makes you think: If "morality" in the private healthcare market puts profits over lives, maybe there shouldn't be a private healthcare market.

--- Amazon CEO Jeff Bezos has dipped his toes into philanthropy with a private fund for a chain of preschools where "the child will be the customer." Meanwhile, Amazon paid no federal income tax on its $5.6 billion in profits in 2017. Where's the fund for public schools, Jeff ?

--- Lingerie company Yandy introduced an (unlicensed) "sexy" Handmaid's Tale Halloween costume. In the book and TV series, handmaids are violently oppressed concubines. Following public outcry, Yandy pulled the outfit.

--- Former presidential candidate Hillary Clinton is the latest to help crowdfund someone's life-saving medical care, appealing for a former staffer's GoFundMe page for cancer treatment. Here's hoping the ordeal gives Clinton, who in 2016 said single payer would "never, ever come to pass," a change of heart.

--- Insurance company John Hancock, one of the oldest and largest life insurers in North America, has officially stopped offering traditional life insurance, replacing it with "interactive" policies that grant discounts and perks based on tracking customers' health and fitness data. Big Brother is here, and he wants you to get a Fitbit.

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dkmich's picture

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"Religion is what keeps the poor from murdering the rich."--Napoleon

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ggersh's picture

According to this the rise in rates is bankrupting
European Banks, that is if I read this correctly

The BIS economists led by Robert McCauley note that non-US banks now owe $10.7 trillion in US dollars, most of which reflects the hedging requirements of these global flows. The banks don’t report foreign exchange swaps with their customers on their balance sheets, but the BIS estimates that these obligations amount to $13 or $14 trillion.

The USFor more than one year, international bank regulators and the International Monetary Fund have warned that the banking system no longer can support these enormous flows. The Federal Reserve is tightening liquidity in the US, and in a volatile market, European banks might not be able to roll over nearly $11 trillion of short-term obligations – and might default.

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"We'll know our disinformation program is complete when everything the American public believes is false." William Casey, CIA Director 1st staff meeting, 1981

the small orange one governs for his wallet and his base

It's called GoFundMe.

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Azazello's picture

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divineorder's picture

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A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.

"Hillary Clinton praises NHS after broken toe prevents interviews
Former US presidential candidate says she received ‘excellent care’ from health service after having to rearrange three bookings

The NHS in England deals with over 1 million patients every 36 hours. It covers everything, including antenatal screening, routine screenings (such as the NHS Health Check), treatments for long-term conditions, transplants, emergency treatment and end-of-life care.

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