I used the example of Pharmaceutical companies inflating the price of insulin to show how our economic system by design steals so much from everyday Americans that it stops the ability of most to build wealth. Instead, it systematically ensures it leaves most without wealth.
PLEASE Listen to the entire video. We must get more in-depth analysis, my friends.
The sad story about insulin pricing abuse.
While the insulin rip off is one example, it occurs in every segment of our economy. Indentured servitude by the masses is the outcome if we continue on the current path.
Recently I blogged about the advent of the standalone emergency rooms using their pricing power and dubious practices to rip off Americans in an article titled "These stories show legalized theft, the reason we need Medicare for All" that everyone should read.
There is a basic tenet we must recognize in our economic system that the article "Why our economic system is designed to keep most people broke by robbing us legally" explains.
Pricing of any product in our economic system has its basis on a corrosive concept known as "Whatever the market will bear." And what will the market bear? All of your income plus your total creditworthiness, how much you can borrow.
Sadly, the reality is that corporations whose fiduciary responsibility is to their shareholders and their huge undeserved salaries will keep raising prices until people are simply unable to afford what they are selling. If it is something they must have, Americans will spend up to their limit to get it
. Thetenets of the current economic system are predicated on this behavior that effectively prevents us from saving. It makes us entities that are nothing but conduits of our income used to create the increasing wealth of a few, those who determine prices, the Plutocrats.
Ultimately, those with unregulated and unlimited pricing power on products and services you must have, can ensure one can never accumulate wealth. They own you. They can extort from you.
The above reality defines our economy. And the proof is a continual decline in the wealth of the masses as the few gets a more significant percentage. Unchanged, math prevails. Welcome to indentured servitude.
Watch the entire Politics Done Right episode here.