The real economy on the ground level is hurting badly. The numbers for commodities, global shipping and trade are all down so far that they indicate a major recession or worse, and the likelihood that darker times are still ahead. Never before in history has global trade collapsed this dramatically outside of a major worldwide recession.
Chinese cement manufacturer will default on a 2 billion yuan ($314 million, £207 million) domestic bond on Thursday, as cracks begin to show in the country’s mountain of corporate debt. Sixth Chinese company to fail to pay back domestic creditors this year
Russia said on Wednesday that it has prepared a series of agreements to promote cooperation with Iran in various areas, will concern animal husbandry, agriculture, mining, banking, and visa and customs regulations among other areas. Oil, gas and petrochemicals as well as construction of power plants and railways are some of the other areas reserved for discussion.
"Potential buyers can see how Russian military equipment works not at arms shows, but in real life. In 2014, Russia arms exports reached $15 billion. Russian Prime Minister Dmitry Medvedev said Russia intended to increase its arms exports.
Fox’s Neil Cavuto, asked if the billionaire businessman was supportive of a $15-an-hour minimum wage. “I can't be, Neil,” said Trump, who, after mentioning his “tremendous” tax plan, added, “wages are too high.” The partisan audience burst into applause.
The small town of Crickhowell in Wales is using the same loopholes as corporate giants like Amazon and Starbucks to turn their entire town into an offshore haven. The tax rebellion could spread throughout the entire UK.
San Francisco start up Momentum Machines are out to fully automate the production of burgers with the aim of replacing a human fast food worker. The machine can shape burgers from ground meat, grill them to order with the specified amount of char, toast buns, add tomatoes, onions, pickles, place it on a conveyor belt and deposit the completed burger into a bag.
Offering a "clear sign that an energy transition is underway," renewable energy comprised nearly half of the world's power generation capacity in 2014 and is already the second-largest electricity source on the planet after coal, according to a new report published Tuesday by the International Energy Agency (IEA).
Republican Sen. Tom Cotton linked the downfall of nearly two dozen counties in Arkansas to the climb in Social Security Disability Insurance. "Population continues to fall, and a downward spiral kicks in, driving once thriving communities into decline,"communities could begin to suffer other social plagues, such as heroin or meth addiction and associated crime. Businesses are forced out when employers struggle to find workers who have accepted disability payments. "It's bad for the communities affected, and it's worse for the disability recipients.
Three Jewish men, two of them Israeli citizens, are among those charged with hacking the website of JPMorgan Chase & Co. and stealing hundreds of millions of dollars.
Gary, Indiana, political leaders are courting GEO Group to have the private prison company build a detention camp for undocumented immigrants, touted as a job-creator and a source of revenue. Mayor Karen Freeman-Wilson estimated the facility would generate $1 million in annual property taxes. “I can use that,” she noted. Councilwoman Linda Barnes-Caldwell:“I think it is a wonderful idea. It will bring revenue to the city and jobs. And I think it is an ideal location. GEO has faced hundred of lawsuits over conditions within its facilities.
China took another step to boost the yuan’s global usage, saying it will start direct trading with the Swiss franc, as the nation pushes its case for reserve-currency status at the International Monetary Fund, making the franc the seventh major currency that can bypass a conversion into the U.S. dollar and be directly exchanged for yuan
European Commission is preparing to target people who hyperlink on the internet, forcing search engines and news portals to pay media companies for linking to their content; considering putting the simple act of linking to content under copyright protection. Each weblink would become a legal landmine, hold every single actor on the Internet liable.
Former president Jimmy Carter said Tuesday on the nationally syndicated radio show the Thom Hartmann Program that the United States is now an “oligarchy” in which “unlimited political bribery” has created “a complete subversion of our political system as a payoff to major contributors.” Both Democrats and Republicans, Carter said, “look upon this unlimited money as a great benefit to themselves.”
Portugal on the brink of a political crisis as Costa’s Socialists move to align with the Communists and the Left Bloc in an effort to overthrow the government and roll back austerity, presaging a debt showdown with Brussels and Berlin. Catalonia’s parliament approved a resolution Monday to take steps to establish an independent republic, vowing it would begin ignoring Spanish institutions and setting up a potential standoff with the government in Madrid.
Americans owe $1.2 trillion in student loan debt, a number that has tripled in the last decade. New York State residents hold $60 billion of that debt. Student loans have passed credit cards and auto loans to become the second biggest source of personal debt in the U.S., trailing only mortgages.
The New Zealand Ministry of Foreign Affairs has released the full text of the ubiquitous Trans Pacific Trade Partnership deal. It would affect your Internet privacy, your ability to choose whether or not to eat GM food, and could even force multiple countries’ citizens to lose their rights for free speech or a fair trial for commodities traded between corporations.
LOS ANGELES (AP) — A fundraiser in aid of the Israeli army brought in $31 million in one night on Thursday, as some 1,200 people turned out for an annual Friends of the Israel Defense Forces (FIDF) gala in California.
The Center for Biological Diversity, the Center for Environmental Health, El Quinto Sol de America, Californians for Pesticide Reform, the Center for Food Safety and the Pesticide Action Network released a report earlier this week that claims that more than half of the glyphosate sprayed in California is applied to the state’s 8 most impoverished counties.
Maersk Line, the shipping branch of the Danish conglomerate A.P. Moller-Maersk, says it will reduce its network capacity, postpone investments and reduce its global headcount by at least 4,000 jobs by the end of 2017 in light of lower demand. Maersk Line has 23,000 land-based workers globally.
Federal loan bonds denominated in Chinese yuan will be issued on the Moscow Exchange in 2016, the director of the debt department of the Russian Finance Ministry Konstantin Vyshkovsky said Friday. The $1 billion is only the minimum amount, according to the ministry.
Whole Foods is hoping to lure consumers to its stores that may have eschewed its products due to high prices. The company says it will start offering deep discounts on produce, meat, seafood and other items in an attempt to recover from a number of financial hits it suffered this year.
The European Union is set to issue guidelines for labeling Israeli products made in the occupied territories. Israel is trying hard to convince the E-U not to go ahead with its plan, describing it as a boycott against Tel Aviv. Israel’s deputy foreign minister is on tour to Spain, France, and Germany this week in an effort to make the bloc change its mind.
The national debt surged by $339.1 billion on Tuesday, increasing the total amount to $18.5 trillion, largest daily increase in its history according to data by US Treasury Department, one day after President Barack Obama signed a two-year budget deal.
Sierra Club predicted—the TPP would threaten the health of communities, the environment, and global climate. rewriting the rules of the global economy is favor of big business. Like the North American Free Trade Agreement (NAFTA)it will be very good for the very richest, and a disaster for everything and everyone else.
As the weaker ruble created a price advantage for some industries, export volumes started to rise, in turn generating investment in certain sectors. Russia has increased exports to countries outside the CIS in mining, chemical, and machine-building sectors.
Eli Lilly, makes one of the world's most controversial growth-promoting chemicals for meat production: ractopamine, marketed as Optaflexx for cattle, Paylean for pigs, and Topmax for turkeys. Ractopamine makes animals rapidly put on lean weight—but it also mimics stress hormones and makes their hearts beat faster.
The mayor called homelessness in Seattle a human tragedy “seldom seen in the history of our city,” while King County Executive Dow Constantine said the situation countywide has become “just as devastating to thousands as flood or fire.”
House Republicans are pushing to give private debt collectors the right to target all unpaid tax bills, handing a traditional IRS responsibility over to an industry with a long record of consumer abuse.
The ACA has nothing in common with universal health care. That was merely the slogan initially advanced to disguise a corporate-designed scheme to dramatically shift health care costs onto the working class
Americans pay more for pharmaceuticals, Internet service than do the citizens of any other developed nation. Food prices rising faster than inflation, while crop prices are now at a six-year low. Health insurers hiking rates 20 to 40 percent. Big corporations, Wall Street banks, their top executives and wealthy shareholders redistributing much of the nation’s income upward to themselves.
Class of 2015 students average $35,000 in debt, with the total for 2015 graduates nearly $70 billion: more than ten times the amount from just 20 years ago. Average time to pay this debt 15 years. Half of US 25-year-olds live with their parents, twice the number from 15 years ago. Over one million US college students are “Sugar babies”: selling sex as part-time employment. The UK has the same condition. 31% of US adjunct professors live in poverty. Real unemployment near 25%. Rigged economy designed for “peak inequality.
Just the helmet for the pilot of the new F-35 Lightning II is going to cost taxpayers nearly half a million dollars. And since we are going to need 2,400 of those helmets, the total bill is going to end up approaching a billion dollars.
The harvesting of multiple fruits just south of Miami, in Redland, has been suspended. A 97-square mile agricultural quarantine is now in place to try and control Oriental fruit fly, native to China and northern India. unsure how the fly made it into the country; feeds off 432 known plants.
Jobless claims lowest since 1973, at the same time layoffs, business closures and retail contractions are at an all time high. Deutsche Bank will layoff 35,000 employees. Pending homes sales plummet following decline in new home construction and existing home sales. 3rd quarter GDP came in at 1.5, the main driver was Obamacare penalties. Goldman Sachs reports manufacturing decline is now contained. US budget deal will allow the Government to robo call those who owe money. China and Germany setting up a yuan denominated exchange in Germany.
Starting next fall it will be illegal to install wood-burning heaters and stoves in new homes in at least one major American city: San Francisco. Even wood stoves certified as low emission by the Environmental Protection Agency (EPA) will be banned.
Economic expansion in the US slowed dramatically in Q3 as most businesses opted to store raw materials instead of increasing manufacturing output due to the weak factory gate inflation and sluggish demand. The increase in warehouse-stored inventories was the tip-off to the overall slowdown in business activity.
"In the United States we have 2.2 million people in jail today, more than any other country. And we’re spending about $80 billion a year to lock people up. We need major changes in our criminal justice system—including changes in drug laws," the U.S. Senator from Vermont said.
Monsanto slashing 2,600 jobs and ending $3 billion to buy back shares from investors, the biotech giant is now reporting that it will be closing 3 research and development centers in order to cut costs in the agricultural commodities market.
"I would like to mention one crucial issue in the development of the energy industry, and the economy as a whole. It is a question of finally stopping the use of foreign currency in internal trade,” said Putin at the fuel and energy presidential commission on Tuesday.
Iran is planning to give up cash and replace it with an electronic means of payment. The project is to be tested for the first time in a free trade zone in the south of the country.
The European Commission is taking legal action against six European countries, including the Netherlands and Luxembourg, after they failed to implement rules that would allow for depositors to have their cash confiscated.
The Iranian Deputy Minister of Economic Development Mohammad Khazaee said at a meeting of a joint Iran-Brazil economic council that the country is aiming to join the BRICS bank. BRICS - Brazil, Russia, India, China and South Africa - comprise about 30 percent of world's GDP in PPP terms and are projected to increase to as much as 45 percent by 2030. The bloc already accounts for 17 percent of world trade.
Electronic Recovery and Access to Data (ERAD) Prepaid Card Reader. This tool, developed by the Department of Homeland Security (DHS), is increasingly being deployed by local police departments, allows cops to swipe prepaid cards, check the balance, freeze the account and take all the money. The ostensible purpose is to go after “bad guys” with “dirty money,” as drug traffickers are turning to prepaid cards instead of bundles of cash when traveling. Will undoubtedly bring about more theft from innocent people, including those with no actual drugs.
The US government has opposed South Korea’s plans to export T-50 Golden Eagle supersonic training jets to Uzbekistan as it fears a possible leakage of technology to Russia, the Korea Times newspaper reported citing a military source on Sunday.
The state has $66.1 million in excess tax revenue from recreational pot sales and the voters get to decide how it’s spent. Proposition BB, up for a vote in less than two weeks, would allocate all of the extra funds entirely to the state; $40 million for school construction and $12 million for marijuana education.
Governor Hickenlooper, who opposed the legalization of recreational marijuana, now supports keeping all of that revenue for the state.
Over the next six months, Barcelona’s left-wing city council plans to roll out a cash-less local currency that has the potential to become the largest of its kind in the world. The main goal of the project, according to a council spokesperson, is to boost economic opportunities for local businesses and traders.
In the 2016 defense budget, hundreds of millions of dollars — funds that could be spent improving America for Americans — are openly going to train and arm “rebel” forces in Iraq, Syria and Ukraine in what amounts to little more than a thinly-veiled proxy war with Russia (and a payday for American defense contractors).
DuPont has been dumping the chemical, C8 (Perfluorooctanoic Acid), into the water supply near its facility in West Virginia for decades. Carla Bartlett of Ohio is the first in over 3,500 lawsuits against the company to actually win. DuPont has known of the chemical’s toxicity since the 1950’s, but continued to manufacturer it. DuPont was found negligent and was forced to award Bartlett $1.6 million.
A review of Mr. Bush’s finances shows that he has built his personal wealth with the help of companies that had business interests with Florida while he was governor, and that singled out his political expertise and government experience as important assets. Roughly half of the $36.8 million he has earned since he left office in 2007 stems from such companies, according to campaign disclosures and government filings.
Iceland has just sentenced 26 bankers to a combined 74 years in prison. The majority of those convicted have been sentenced to prison terms of two to five years. The maximum penalty in Iceland for financial crimes is six years, although hearings are currently underway to consider extending the maximum.
Obama is pressing for Congress to give Puerto Rico (PR) sweeping powers to reduce its $73 billion debt burden through a form of bankruptcy protection not now available to American territories and will also ask lawmakers to establish an independent body to monitor the island’s fiscal affairs (a la Troika).
Defying the international call for an arms embargo over war crimes concerns, the U.S. Department of Defense (DoD) announced Tuesday it has approved an $11.25 billion deal to sell combat ships to Saudi Arabia, which has been waging war against Yemen for more than six months.
Mass unemployment, destroying jobs in every conceivable sector, is a growing danger. Truckers, factory workers, waitresses, teachers, bureaucrats and bosses are all directly threatened by robotic labor. In a short span of time, employment could go from bad to virtually non-existent.
The Chinese payment system intends to replace Visa and MasterCard that were forced to leave the peninsula following sanctions after it rejoined Russia in 2014. BaykalBank is the first lender to start issuing UnionPay payment cards in Crimea.
Illinois Comptroller Leslie Geissler Munger; due to the bitter budget battle going on in Springfield, the state would miss a $560 million pension payment in November. Unable to pass a budget leading to all types of absurdities including possibility of shortened school years to lottery winners being paid in IOUs.
Despite the different political status of the two nations, the crises in both Puerto Rico and Greece bear similar hallmarks. The political and economic responses to the crises have also been remarkably similar, involving the implementation of strict austerity measures, privatizations of key public assets and the threat of further cuts in the future.
General Joseph Dunford, the chairman of the US joint chiefs of staff, flew to Tel Aviv Sunday to discuss a 10-year military aid package worth some $3.7 billion a year. The pledge of increased American military support came in the midst of an increasingly brutal Israeli crackdown on Palestinians within both the occupied territories and Israel itself.
The cost of retiree health care promised state and local government employees, growing at a faster pace than more-publicized public pensions, has become a common target for cuts in a string of California city bankruptcies.
e EU and the Greek government agreed in 2011 to eliminate universal health care, by requiring the unemployed to pay for their own care. Pensions are to be be reduced from €486 to €392 per month. One quarter of workers unemployed in Greece, retirees often provide the only income in families.
Bank repossessions, the final stage of the foreclosure process, jumped 66 percent year over year in the third quarter of this year, according to RealtyTrac, a foreclosure sales and analytics company. It’s the largest annual rise ever recorded in bank repossessions by RealtyTrac. More than 123,000 homes went back to the bank in just three months.
German Government is considering 'helping' Greece more financially – but only if Athens is more involved in the refugee crisis, there could be more money for The Greeks IF they take on more refugees.
Company says strong dollar expected to hurt full-year revenue by $15 bln, full-year net sales growth expected to be "relatively flat", mainly due to strong dollar; Walmart had earlier forecast 1-2 pct growth, expects fiscal 2017 earnings per share to fall by 6-12 pct due to higher wages and training costs.
The candidates presented themselves as opponents of war, poverty, injustice and the domination of politics by big money, without in any way suggesting that these were all connected to a common cause, the profit system.
"Why does the IMF not want to give another $3 billion to Ukraine so that it could pay off the debt? Why change the rules for a specific country, disturbing, in fact, the system itself and the rules of the IMF?” asked Putin at a meeting with the Cabinet.
EPA is running a $160 million PR Machine, $715 million police agency, a near $1 billion employment agency for seniors, and a $1.2 billion in-house law firm,” said Adam Andrzejewski, the founder of Open the Books. From page 13 of the report: EPA agents have the latest state of the art ‘policing’ gear such as “guns and ammunition,” “camouflage and other deceptive equipment,” “night vision,” “unmanned aircraft,” “radar,” “body armor,” “surveillance equipment,” “mobile GPS monitors.
Alaskan Gov. Bill Walker: the state must expand fossil fuel drilling in order to pay for the damage caused by climate change, Alaska is facing "a significant fiscal challenge," due to falling oil prices and Shell's decision to pull out of drilling in the Chukchi Sea. "We have villages that are washing away because of changes in the climate." Walker said he wants to "urgently" drill in the protected lands of the Arctic National Wilderness Refuge.
Major protests have broken out in Belgium over AUSTERITY, according to Le Monde. According to the police, up to 100,000 people demonstrated in the center of the capital against the AUSTERITY measures imposed by Prime Minister Charles Michel.
In a stunning move towards the elites' endgame of 'banning cash', Greek authorities unveiled stricter capital controls for civil servants and pensioners this weekend. By drastically limiting cash withdrawals and forcing the more 'controllable' compulsory use of plastic money, Greek authorities hope to stop tax evasion through the use of 'fake cash registers'.
Russian, Chinese and French companies have approached Tehran with investment plans to tap its natural resources, the Iranian deputy minister for industry, mines and trade said Monday.
The heart of the economic disorder is a world financial system that has gone rogue… banking’s power to create money out of nothing has been taken to a whole new level… cash generated out of nothing can be lent in countries where the economic prospects look superficially good. Economies surge until something – a collapse in property or commodity prices – unravels the whole process.
Thanks to a new policy in the Canadian city, housing is mandated for everyone who has spent 10 days in a shelter or on the streets. Now, when officials of the city learn of an individual living in these circumstances, they move him or her (or the family) into a house or apartment. Mayor of the town, Ted Clugston, says 10 days is the absolute limit an individual may live on the streets – even though the city is normally quick to find housing for homeless individuals.
Colonel Lawrence Wilkerson – former chief of staff to Colin Powell; the U.S. is exhibiting all of the signs of a failing empire, including: Relying on massive military force (and using gigantic complexes to support it) as the be-all and end-all of power, and belittling diplomacy/ Maintaining standing armies, instead of disbanding military forces between wars. Using more mercenary forces than citizen troops. Spending disproportionately large amounts of blood and treasure in order to counter threats on the status quo … which simply exacerbates the threat against the empire. Going ethically and morally bankrupt. Ending up up having bankers and financiers end up running the real power. Suffering great hiccups in finance and trade. The leaders no longer really believe in or follow the ideals of the founders
Hundreds of thousands of people rallied on Saturday afternoon in the German capital against the massive Transatlantic Trade and Investment Partnership (TTIP) accord being negotiated by the European Union and the United States. Critics say the trade deal will benefit large corporations at the expense of average Europeans. erode labor and environmental standards.
World Bank have released a report saying that the current large-scale mass migration happening around the world, could have a positive effect in the global economy in the coming decades. “Most of the evidence suggests that migrants will work hard and contribute more in taxes than they consume in social services.”
Emerging market companies have "over-borrowed" by $3 trillion in the last decade, reflecting a quadrupling of private sector debt between 2004 and 2014, found the IMF's Global Financial Stability Report. This dangerous over-leveraging now threatens to unleash a wave of defaults that will imperil an already weak global economy
Billions of barrels of oil have been discovered in Israel, and this discovery could essentially make Israel energy independent for many decades to come. But there is just one problem. This discovery was made in the Golan Heights.
Purchases can be made through a Web site, with the funds drawn out of an Internet bank account, where the money was originally deposited electronically. People are earning and spending money without ever touching it.
China launched the first phase of its China International Payment System (CIPS) in Shanghai on Thursday, allowing cross-border transactions in the Chinese national currency, the yuan. Up to 19 major banks were named as direct participants in CIPS, with 38 Chinese banks and up to 140 foreign financial institutions named as indirect participants.
Upscale food market operator Whole Foods Market said it would cut about 1,500 jobs, or about 1.6 percent of its workforce, over the next eight weeks.
There exists an overlapping and highly integrated network of institutions, committees and secret meetings of ad-hoc groups that collectively run the global economy. This network consists of finance ministries, central banks, international organizations and the various conferences and confabs that bring them together. This network is responsible for facilitating global financial diplomacy and managing the architecture of global financial governance. It is the most powerful and informal political structure in the world. United States at the center of the system.
Five large purchasers of US Treasuries – China, Russia, Norway, Brazil, and Taiwan – have changed their minds. They’re dumping Treasuries, each for their own reasons that are now coinciding. And at the fastest rate on record. For the 12-month period ended July, sales of Treasuries by central banks around the world reached a net of $123 billion, “the biggest decline since data started to be collected in 1978,
“Monsanto one of the world’s largest seed and agrichemical companies slashing 2,600 jobs. Sales of corn seeds Monsanto’s key products, fell 5 percent, sales at the company’s agricultural productivity unit, which includes Roundup herbicide, dropped 12 percent.
Anti-austerity demonstrations in Belgium on Wednesday drew tens of thousands of people—some of whom clashed with police and were sprayed by water cannons as they marched through Brussels demanding an end to new measures which they say unfairly target workers and favor corporations.
The Chinese yuan became the fourth most-used currency for cross-border payments in August, according to global transaction services organization SWIFT. It’s the first time, the yuan has moved ahead of the Japanese yen. There was a “substantial” increase in the use of the Chinese currency in the final week of August.
The Chinese “State Administration of Foreign Exchange” (SAFE) is now engaged in a full-fledged currency war with the United States. The ultimate goal – as the Chinese have publicly stated – is to create a new dominant world currency, dislodge the U.S. dollar from its current reserve role, and recover as much of the $1.5 trillion the U.S. government has borrowed as possible.
If you don’t have a skill, trade or service to offer the bartering economy you may be doomed when all hell breaks loose. Greece bartering is gaining traction, people exchange fruits, vegetables, other crops, equipment, clothing and services. Athens online barter club, Tradenow, created its own currency called tradepoints. More convenient to trade because money not readily available.”
The Koch brothers and utility giants are bankrolling a ballot initiative in Florida to block the development of home solar and to protect the utilities' continuing oligopoly on energy generation in the Sunshine State.
The consumer rights law firm known as Hagens Berman filed a lawsuit against Hershey, Mars, and Nestlé on Monday, on the behalf of three California residents. The crux of the lawsuit suggests that these companies not only knowingly sourced their cocoa from farms in West Africa that used child labor (and in many cases, child slave labor) but that they broke California state law by failing to disclose this fact on the packaging of their products.
DOMINICAN REPUBLIC (INTELLIHUB) — Last week hundreds of customers removed their smart meters in protest of high electricity costs, almost double of last month’s, and frequent outages.
Smart meters are known to be bad for human health and may cause cancer.
Whole Foods Market co-CEO and co-founder John Mackey: most employees feel that unions are not necessary to represent them," "Why would they want to join a union? We're not so much anti-union as beyond unions.”Whole Foods stock has lost 40 percent of its value since February.
Monsanto is being sued again, this time by 2 separate agricultural workers who allege the agribusiness’ Roundup herbicide caused their cancers.
There is only one party in the United States, the Property Party…and it has two right wings: Republican and Democrat. “Both parties have shifted well to the right, the Republicans almost off the spectrum, supporting candidates that thrive on victim blaming, and will greenlight stricter theocratic legislation. Democrats are mostly what used to be called ‘moderate Republicans.’ Plutocracy masquerading as democracy.”
Fake eggs.“Alginic Acid, Potassium Alum, Gelatin, Calcium Chloride, water and artificial color.”. Walnuts stuffed with concrete pieces inside. Pork sold as beef. Fake green peas. Baby formula made of chalk, led to dozens of children dying. Industrial salt sold as table salt, unfit for human consumption“ Mud sold as black pepper. Fake Sweet Potato Noodles with industrial ink and paraffin wax. Fake Ginseng, 70% sugar. Plastic Rice. Pork buns stuffed with cardboard.
Plan was filed in U.S. bankruptcy court in Richmond, Virginia, last week,: 208 retired miners, wives, and widows in southern Indiana who have no direct connection to Patriot Coal. Millions of dollars earmarked for their health care as they age would effectively be diverted instead to legal fees and other bills from the bankruptcy.
9. Myozyme cost: $100,000 to $300,000 per year Used to treat a rare debilitating disease called Pompe, attacks the skeletal muscles and the heart. 8. Acthar cost: $300,000 per year Used to treat seizures in infants under the age of two. 7. Folotyn cost: $320,000 a year Used to fight a rare and aggressive cancer, T-cell lymphoma. 6. Cinryze cost: $350,000 a year. Used to treat angioedema, a hereditary disease affecting causes swelling of the hands, throat and abdomen. Made from human blood. 5. Naglazyme cost: $365,000 a year. Used to treat a children’s disease known as Maroteaux-Lamy syndrome, which affects connective tissue.4. Elaprase cost: $375,000 a year Treats Hunter syndrome, inhibits physical growth and brain development. 3. Vimizim cost: $380,000 a year Enzyme replace treatment used to treat Morquio A syndrome,resulting in abnormal heart and skeletal development. 2. Soliris cost: $440,000 a yearMost expensive drug in the United States. treating paroxysmal nocturnal hemoglobinuria, destroys red blood cells, making the patient susceptible to infection, anemia and blood clots. 1. Glybera cost: $1.21 million a year “Most Expensive Drug in the Entire World” used to treat a condition called familial lipoprotein lipase deficiency, causes extremely painful swelling of the pancreas.
Turing Pharmaceuticals Daraprim raised price of each Daraprim tablet from $13.50 to $750. A few years ago, cost only $1 a tablet. Rodelis Therapeutics drug Cycloserine, jacked up the price of 30 pills from $500 to $10,800. Valeant Pharmaceuticals heart drug Isuprel, raised the price by 525 percent, ultimately drawing a Congressional investigation. Antibiotic Doxycycline up from $20 a bottle in October 2013 to $1,849 by April 2014.
Large pharmaceutical firms are some of the most profitable companies in the world, hundreds of millions of dollars are also spent on political operations every year, injected $51 million into the 2012 federal elections. Consumers in the United States pay some of the highest prices in the world for many life-saving drugs.
Imbalances in international trade, the dollar’s strength, low commodity prices and capital flight from emerging markets have all contributed to the increased financial and economic risks this outgoing quarter.
Drug called CimaVax EGF, now one of the most effective medications to treat lung cancer. Works by limiting a patient’s ability to produce a hormone called EGF, has been shown to play a pivotal role in cell division and growth of malignant cells, stopping the tumor’s growth. The vaccine improves survival rates in those who are suffering from later, usually terminal, stages of lung cancer. Cuba has offered the lung cancer vaccine to the U.S., is finding fierce competition in the US marketplace.
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