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Important questions about lawsuits against drug manufacturers that are facing Justices of the Supreme Court. Justice Breyer put up a question that the 12 people on a jury see only the peple the drug has hurt no the people who depend on it and who it has helped. Is the FDA as agency better able to determine or should the lawsuits be allowed?

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Philipp Rosler, head of the FDP party and Germany's Economy minister, says he opposes further involvement by German taxpayers or the ECB in the debt restructuring for Greece. He pointed out that the current negotiations between Greece and the bondholders (mostly French and German banks) were about private sector involvement. Tax payers of Germany and other European countries are already making a contribution he said. The IMF is pushing for the ECB to take a haircut or writedown on the $40 billion of Greek bonds it holds to supplement the haircut taken by bondholders of over 50%. Rosler said in an interview with the Journal that Athens should keep its side of the bargain by implementing reforms and not letting them just be on paper. On Germany or the EU directly taking responsibility over the Greek budget, Rosler said this should be the responsibility of the Greek parliament. At the same time he pointed out that its important to have a specific and rigorous montiroing process just to be fair to taxpayers in the EU....

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Abbott Laboratories agreement to pay $1.6 billion in civil and criminal fines for promoting unapproved off label uses of the neurologic drug Depakote, to sedate older patients in nursing homes. The acting associate attorney general, Tony West, said: "Not only did Abbott engage in off-label promotion, it targeted elderly dementia patients and down played the risks apparent from its own clinical studies." Abbott aggressively promoted its use in nursing homes. It also aggressively promoted the use of the drug for schizophrenia between 2001 and 2006. In 1999 Abbott had to discontinue a clinical trial testing Depakote's effectiveness against dementia after results showed increased incidence of anorexia, drowsiness and dehydration.

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Former president Lula da Silva of Brazil is sentenced to 10 years in prison on corruption charges. The charges are that Mr da Silva and his wife were illegally given about $1.1 million in improvements from a construction company for a beachfront apartment. The construction company was able to get lucrative contracts from the state oil company Petrobras. Many of Brazil's politicians are under investigation. The former speaker of the Brazil parliament, Eduardo Cunha, was sentenced to 15 years in jail for money laundering and corruption. The current president Mr. Temer is also under investigation. A culture where such activity was accepted had developed, and this effort started with a small investigation called "Operation Car Wash" in a smaller Brazilian city named Curitiba. Young lawyers determined to set a higher standard and fight Brazil corruption pursued the case that led upto the higher echelons of Brazilian government, the construction industry, and the state oil company Petrobras. ...

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The drug industry which faces the prospect of losing billions of dollars in sales of epilepsy drugs if pharmacists substitute cheaper generics is using the Epilepsy Foundations state affiliates to lobby for legislatio which would make it harder for pharmacists to substitute generics for epilepsy. The FDA does not think generics are any different from the epilepsy drugs that will lose patent protection between 2008-2010.

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NYT's Thomas Edsall does a great service to America by pulling together different views on the causes of the alienation of the rural population in the US from the Democratic party. The situation in Wisconsin with Ron Johnson winning in that state on the back of resentment of the rural population is shown. It all started say experts with the the so called Third Way that turned out not to exist of Tony Blair in Britain and Bill Clinton in the US that quietly accepted the Reagan view of the world and moved the Democratic party in a different and unknown direction. Obama made things worse by embracing Tech and tech companies into the Democratic party, and ignored the concerns of rural and agricultural parts of the US. The Obama period continued the Clinton policies of letting China takeover America's position in manufacturing, and allowing the offshoring of much of American industry to China. By not closing the chapter of America's wars in Afghanistan and Iraq president Obama lost many critical years. Mr. Biden now has the extraordinary challenge of not meekly accepting what has happened knowing that it is not in the spirit of the party of FDR and Truman, that the Democratic party will stand or fall with the common man, that it will take some time to recover from these missteps, that it is in the interests of America and the American people, and for what America stands for in the world. It is all embodied in what Carl Sandburg once wrote- "The People, Yes!" ...

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Twenty Democrat Governors meet with Biden on July 3, 2024. All says they support Biden. Governor Newsom put it this way- "I heard three words from the president tonight. He's all in. So am I." Newson said he was not just a defendor of the president, he was a passionate supporter of Biden. Most say those who can hear understand that his achievements are undeniable. Governor Whitmer said "He is in to win it. And I support him." Kamala Harris said "We will not back down. We will follow our president's lead." Governors from Minnesota and Maryland said "He had our backs during Covid. We have his back." The problem it appears upon closer look is that the media did nothing, nothing to question where it should ask questions about what is not in character with Lincoln, Wilson, FDR, Truman, Ike, not in character with the founders Jefferson, Adams and Washington. It did not look closely at what president actually said- only the delivery which can depend on the day- an educated media would never do this. The media's credibility today is the lowest it has ever been, on this basis the media including the largest television stations and the newspapers have failed, and failed the Nation. In the UK the media supported Brexit and failed the British nation, this is how the British people feel today as they go to vote in the general election on July 4th. It is the reckless behavior of the unelected media that is put to the real test in 2024. ...

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Emma Tucker describes the elation in the News Desk and for reporters of the WSJ on August 1, 2024  following the release of a young reporter Evan Gershkovich held by Russia for coverage in sensitive Russian regions. Emma Tucker said-    "We are grateful to President Biden and his administration for working with persistence and determination to bring Evan home rather than see him shipped off to a Russian work camp for a crime he didn’t commit. We are also grateful to the other governments that helped bring an end to Evan’s nightmare, in particular the German government that played such a critical role." Who is Emma Tucker and why does it matter?-   It matters because of monopolistic/oligopolistic hold over communication of news in the public space that belongs to public service since Lincoln, TR, FDR, Kennedy in the US, and it's shaping of public perceptions such as no action needed on climate change fires/floods, or on infrastructure investment in a dilapidated US. Emma Tucker studied in Sussex and in New Mexico before studying philosophy, economics and politics at Oxford. She becomes a graduate trainee at the Financial Times  in 1990 continuing for 30 years right into Covid years (FT now owned by employee owned Nikkei since 2015 acquired from Pearson for $1.32 billion). In 2022 she was selected to run Rupert Murdoch's Wall Street Journal acquired by him for $5 billion- including $2.25 billion premium- from the Bancroft family that owned it and Dow Jones since 1928.   ...

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This opinion in The Guardian points out the difficulty that Lula da Silva faces in governing after a narrow margin of victory of about 1.8 percentage points in the presidential election in Brazil. It is a very different country than the one in which he was first elected in 2003. The right wing parties gained 249 seats compared to 141 seats for the Lula PT party in the lower house of parliament. This means Lula will have a harder time governing, needing centrist party support, and tackling the large fiscal deficit of 8% of GDP.

In the elections for the governors of states Bolsonaro won in 14 of 27 states including the large state of Sao Paulo. Lula owed his victory to large margins in the 10 relatively poor northeastern states where incomes are below $400 a month including Bahia. Where incomes are over $400 as in Sao Paulo the vote was in Bolsonaro's favor.

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This article in the Economist following the state election in Berlin, says it shows Merkel and the CDU as still the only likely option to form a new coalition in the 2017 federal elections. Even though six parties emerged in the Berlin election- the left parties SPD and Die Linke, the Greens,CDU, AfD, FDP- the situation is so fragmented that the CDU still remains the leading party nationwide. The Economist points out that a Greens and left parties coalition as in Thuringia is not an option at the federal level, because most Germans are not in favor of a SPD, left party Die Linke, and Greens coalition at the national level. The opposition from the CSU inside the CDU-CSU parties to Merkel's refugee policy,  with Seehofer calling for a numerical limit to refugees, is it says presents the only real challenge to Merkel. Yet Merkel has already tackled that problem, as the new refugee numbers are dropping dramatically. and Merkel has already pointed out that the refugee crisis came when she and her government were caught unprepared. By taking the right steps to assuage voter sentiment as she has deftly done throughout her terms in office, staying close to what voters generally accept as the best way forward, a year from now Merkel and the CDU may as she says be seen as having taken actions that best reflect Germany's interests in the long term. ...

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The cleanup at Barclays under new chairman David Walker, following the resignation of CEO Diamond over the LIBOR probe, is continuing. The old CFO Lucas and general counsel Harding departed in Jan. 2013. Hector Sants, who headed Britain's FSA, was hired to run the compliance division at Barclays bank. The poor record of dealing with regulators and the financial management of the departed executives hurt Barclays credibility with regulators. David Walker is one of the widely respected names in British finance, and the efforts to put Barclays on the right path will go a long way to show British finance can restore itself.

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This WSJ analysis shows that in the counties that flipped to Biden in the U.S. election about 40% of the people had white collar jobs and were better educated and in metropolitan regions. Of the counties that flipped to Trump about 20% had white collar jobs with only 1.4% jobs growth whereas the improvement in the counties that flipped to Biden had much higher jobs growth of 5.3%. Where Biden prevailed 70% of America's GDP is generated, where Trump prevailed 30% is generated. One is white collar in metropolitan regions, in cities and suburbs, better educated. The other is blue collar, less educated. One blue collar is hit hard by the pandemic, the other is white collar but also includes some of the people hardest hit in the pandemic of minorities in the cities and suburbs. In truth none can benefit without bringing all along. And loyalties shift as most of the professional class was once with Republicans who were the party of business. The sending out of American manufacturing to China has not only affected the economy, it has also changed the parties as the Republicans took up the cause of American manufacturing workers changing the two parties. For most of the twentieth century this was not the case as FDR, Truman and Kennedy-Johnson, were Democratic presidents supported by blue collar workers.   ...

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In a factory the size of 5 football fields located in Gurnee, Illinois, Abbott Labs makes its BinaxNow Covid-19 home tests. Abbott turned out 1 billion tests in 2021 and at one point had 80% of the market. Along with Pfizer vaccine, BinaxNow Home covid-19 tests are a dominant product during the pandemic. Abbott generated a fifth of its $43 billion in revenue from these home tests. Abbott faced several hurdles along the way. It gained when the US government authorized it to make the test. Yet after vaccination took off by mid 2021 the demand for tests declined and Abbott nearly idled its giant factory in Gurnee. Delta and Omicron variants led to a sudden reversal and surge in demand. Abbott developed its test based on an existing design it used in the US for flu tests, by a company it inherited by acquisition called Binax. To do that test one sends a swab up the nose, add that sample and a liquid mixture to a rectangular paper card, and close the card shut. The liquid then travels up the paper strip, revealing one or two pink lines, one for negative, two for positive. This is done in 15 minutes and the simple design described as a lollipop shape, put Abbott far ahead of competitors. The US FDA authorized Becton Dickinson and Quidel to make the tests before it authorized Abbott, but these rival companies had a poor and complex design. The Trump administration gave Abbott a $760 million contract to buy 150 million tests for distribution to health departments, long termcare facilities, nursing homes, and schools. And by October 2020 Abbott was already making 50 million tests a month. When it comes to distribution Abbott tapped into its pharmacy connections for baby products such as Similac baby formula. This gave it an advantage over Quidel and others who also lacked the manufacturing knowhow for large scale ramp up. The BinaxNow in pharmacies was sold at $24 for a box of two tests, while government paid $5 for one test. Abbott says it makes $ 7 per single consumer test. Yet there was one problem waiting to hit Abbott in 2021- demand dried up as the vaccination campaign took off. In fact the plant manager, Mr. Rodriguez, planned to move to another job inside Abbott as production declined. Then came the Delta variant and he was asked to ramp up production again. With Omicron demand soared. The Biden administration committed $3 billion to help boost test production and asked Kroger and Walmart to sell over the counter tests at cost for 3 months. Abbott had to lure workers from Amazon at $25 an hour for the Gurnee plant expansion. What was learned by the government and Abbott from this experience? The US government now looks for ideas in meeting demand volatility, supply challenges and production needs,. Sustaining production capacity is important for future virus flareups- a new government-industry partnership is required for maintaining test making infrastructure. With government help Abbott plans now to keep the facility at Gurnee operating indefinitely. ...

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The comparison by Goldsmith and Moyn has picked the wrong Roosevelt. Only Washington in the war of independence, Lincoln in the Civil War over slavery, and FDR Franklin Delano Roosevelt in the Great Depression and economic collapse, fall in that category and there is no one and nothing to compare with both the struggles they fought and the challenge to the survival of the US. On the next scale comes TR Teddy Roosevelt, and this is the Roosevelt to compare DJT with. TR was unconventional, TR spoke a different language and could be frank and outspoken. TR actions matched his words, as his days on the Indian frontier and with the Rough Riders. TR also had one term plus completing McKinley's term after his assasination. And TR like DJT did not like his successor and did everything to make the comeback denouncing the policies of his successor William Howard Taft in the 1912 election, which TR lost to Democrat Woodrow Wilson. All this is true for DJT in 2026. TR denounced the shift away from his "progressive policies" and the shift to corporate interests of Republican Taft. In this sense also DJT is similar as he denounced the shift to corporate interests of the Bush/Clinton/Bush/Obama years. TR was no country club Republican and was willing to confront opponents in the politics to fight for the benefit of the working man, splitting the Republican party in the process. This is true of DJT. TR launched the rebuilding of the Navy, and announced he would reassert the Monroe Doctrine. DJT is doing the same and is reasserting the Monroe Doctrine. One could say that DJT feels the hidden TR in him and like Teddy Roosevelt is putting America in the place it once was. For TR the industrial revolution had distorted a country founded on the backs of settlers owning the land independent and rugged, as industry turned the country into corporate interests and workers in factories with few rights, and poor working conditions and wages. This TR even as a Republican fought to reverse. In DJT there is the Republican also of a different mould who fights to reverse the situation created by Bush/Clinton/Bush/ Obama over three decades since the 1990's when America has fallen to new lows when drug trafficking gangs in Mexico and Venezuela are able to run rampant over the western hemisphere, when elites in Canada and the US act impotent in the face of this, or living in their own world away from the streets and neighborhoods of America devastated by drug trafficking, towns and neighborhoods from Janesville to Flint economically deprived as elites shifted manufacturing overseas to China in complete indifference to the American worker and his family, and carried out wars in remote parts of the world such as hills of Afghanistan and deserts of Iraq no worker or farmer in America had even heard of or cared about since the American continent was settled in 1600. If there is a Woodrow Wilson around the corner who won in 1912, for the 2028 election, then it is someone who like Wilson will take policies to benefit the American worker and farmer and his family, and America as a Nation to a better place over the next decade. A passage from Teddy Roosevelt from his Autobiography about who TR was struggling against illustrates this point- "They favored Civil Service Reform; they favored copyright laws, and the removal of tariffs on works of art; they favored all the proper (and even more strongly the improper ) movements for international peace and arbitration; in short, they favored all good and many goody-goody, measures so long as they did not cut deep into social wrong or make demands on National and individual virility. They opposed, or were lukewarm, about efforts to build up the army and the navy, for they were not sensitive regarding National honor, and above all they opposed every non-milk-and-water effort, however sane to change our social and economic system in such a fashion as to substitute the ideal of justice towards all for the ideal of kindly charity from the favored few to the possibly grateful many." (Theodore Roosevelt, Autobiography, Chapter 5 title: Applied Idealism, 1913) ...

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Healthcare, climate change, pensions and social benefits, are three issues uppermost in the minds of German voters. Three million new young voters most of them only about 2 years old when Merkel started 16 years in office, look for change. They are well informed and for these young voters climate change is the most important issue. DW.com shows three voters and how they plan to vote. One voter has cast a mail in ballot for The Greens party. The second voter will vote for the Greens. Both because of climate change concerns. The third voter Thurid says her mother is a geriatric nurse and is not vaccinated. She is vaccinated but had talks with her mother and understands her worries about vaccination. She will vote for the Free Democrats because they oppose compulsory vaccination. The three leading parties for young voters are the Greens party, the Free Democrats, followed by the Social Democrats all in the range of 16-18% of support. The Greens have sent out 2 million brochures to voters. Out of 60 million voters in a German population of 80  million, 3 million is only 5% of the vote. What makes a difference is that it is consistent with the general direction of voters young and old, all looking for change in Germany as the CDU party attracts only about 20% or one fifth of German voters. Social Democrats Scholz is way ahead of Christian Democrats Laschet in how voters view each candidate. Will German voters be well informed enough to make a decision based on their desire for change after 16 years of Merkel or will the CDU bringing back in the last days of the campaign the old fears that the communist Left party would somehow find its way into the government using the Greens as a way in- this is a question for German voters. In1994 during the Cold War with Soviets Kohl used this to keep the Social Democrats out and Greens out and formed a coalition with the FDP. Yet today Merkel has grown close to both Russia and China and away from the Western alliance in a way that was unimaginable under Adenauer who helped build the new Federal Republic of Germany after the war. Merkel refuses to even immediately accept a call from a new US president Biden, American president who is closest in style and temperament to Harry Truman who faced off the Soviets in Berlin in 1948.  The FDP opposes a wealth tax or any form of taxes in which the wealthier pay a fair share of what is needed to build crumbling infrastructure in Germany neglected in the Merkel years. In Germany social and economic disparities have grown during the pandemic with poverty increasing during the pandemic as has happened throughout Europe and the world. The US is already committing to increase taxes for the upper incomes. This is where voters have a choice- do nothing with infrastructure, health or climate change or do something by increasing taxes. The choice is now before the German people.  With this question comes a choice for western civilization, with the recent election in the US, and two elections in Germany and then France. Will it look with optimism to the future or will it huddle up in a deeply cautious and slightly pessimistic view of the world that is embedded in Angela Merkel's cautious vision that ended up only responding to crises- some self inflicted as in migration policy, and even self inflicted in tackling euro problems created in the euro currency's faulty design. In fiscal policy as in migration policy Merkel has reversed her position- by supporting European solidarity. Will Germans vote for optimism or never ending caution? Are lessons learned?     ...

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Preliminary results show the SPD Social Democrats leading in Germany. The SPD had 25.7% of the vote, ahead of Merkel's CDU at 24.1%. This is the worst showing for the CDU in German elections. The environmentalist Greens Party came in at 14.8% of the vote. The pro-business FDP Free Democrats came in at 11.5%, the far right AfD at 10.3%, and the socialist Left party at 4.9%. Parties calling for big infrastructure investments in Germany with tax increases emerged as big winners reflecting the public mood in Germany after CDU led coalitions with SPD for the last eight years focused on the eurozone crisis and opened migration into Germany, while neglecting much needed investment in broken infrastructure. Both the SPD and Greens are calling for big investments and taking on additional borrowing to do so. They now have a combined 42% of the vote, and 47% when combined with the socialist Left. The Afd with 10% remains mainly a fringe party - and primarily a result of Merkel's decision to open migration from war torn Arab countries which she later reversed, and from from the CDU's failure to tackle social and economic problems of eastern Germany.    ...

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How the new marketing approach for drug companies and Pfizer in particular is affecting how Pfizer is marketing an anti smoking drug. the approach is measure and careful and mindful of all the difficulties in making it work for patients including the psychological aspects of smoking addiction.

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In Biden's favor the midterm elections showed that for all the concerns about that election Mr. Biden navigated each situation well drawing support from all segments of the population. There was much skepticism about the passage of legislation to invest trillions in chips, science and infrastructure, Yet by winning two key votes of Manchin and Sinema president Biden got the job of investing in America done. The Inflation Reduction Act also kept the president's priorities for helping the average worker and families. At the outset of his campaign for 2024 president Biden faces low ratings. Nate Cohen points to lower support from non white voters. Yet when one looks at the 2020 elections and the last midterm elections it is clear that America is moving back to the days when white voters in all income groups support of the Democrats remained strong. The Obama period could be a temporary situation of Democrats having lost their anchor in manufacturing communities and trade unions as well other segments of the population, depending on 90 percentage points of minority support to pull through. Biden is headed back to the days of Wilson,  FDR and Truman, when whites less educated or more educated gave their support to the Democrats. This makes independent voters crucial and Biden's appeal has to be based on how much he can deliver to voters in infrastructure, in jobs and in hope- the prospects of America for the younger generation. Economic prospects of America can further improve in 2023-2024 as Biden's program for Investing in America moves forward rapidly.    ...