More Signs of Economic DEFLATION: Joe Biden cites PRICE CONTROLS as the solution for his prescription drug costs Build Back Better agenda – August 12, 2021,

Although Joe Biden uses the words “competition” the substance in his Build Back Better speech revolves around PRICE CONTROLS. Most people don’t follow politics so they might be unaware of what Donald Trump was attempting to do with prescription drugs, well Joe Biden took a portion of what Trump planned to do and added Price controls to it.

Price controls are a form of corporate welfare as it creates an artifice barrier to entry with little to no benefit for competitors. What Joe Biden is proposing is why Americans pay such a high price in the first place. Price controls just like every other regulation, prevent competition and it also creates n environment in which pharmaceutical companies have to take on more risk for a far less reward.

Furthermore one of the main problems in health care is the government because if a particular drug is deemed illegal by the government while it being legal in another Western country, there are fewer options available to the consumer which allows the available company to charge higher prices, because competition is illegal, and because insurance companies are often involved with drug prices, the price the noninsured consumer pays is often tied to the inflated price charged to the insurance company.

When I paid my Dentist with cash, he charged me a lot less than when I paid him with the insurance from my prior job. Because there was a huge delay in payment from when he got paid from the insurance company. When I paid with cash, he got his money right away. Well depending on what US State a person is in, prices for drugs have to be consistent right across the board.

Knowing that most people will be on some sort of government assistance or insurance drug compies will often price their drugs based on the price the government or insurance company is willing to pay. Politicians to get votes are at the mercy of these drug companies, insurance companies know the legal costs involved in combating these drug companies, so insurance companies often pass the cost down to the consumer, all of this stupidity is the result of big government and Joe Biden, who is clueless and clearly reading off of a teleprompter is parroting talking points he believes will score him political points.

But again what Joe Biden is proposing is going to cost Americans more fiat dollars for fewer goods and services and for the economy the end result of this stupidity is economic DEFLATION!

Interesting times ahead