2:43:59 But we do have a problem, and I talk with Tina about this all the time because of the entitlement factor of all people in United States is really out of control. it's hard to say. Well, there are services that people receive that are philanthropic, that are paid for by companies and individuals who offer them services certainly in medical area and they there's no gratefulness anymore. And I'm not blaming anyone, but the reason they... It's like oh well of course it's there, of course there is something, of course there is a safety net and almost everything feels like all the government taking care of me or whatever it is and they don't even realize that there are you know a lot... There's a lot of nonprofits certainly in Austin that they are doing this based on people's generosity trying to keep programs afloat that the government cannot will not or should
2:44:59 be putting in place, but you combine that with really the safety net and I'm really a murk and A-hole about this stuff. It breeds contempt and entitlement and the result is irreversible. I saw this in the socialist countries I grew up in and it saddens me." Well what are you going to do about it? Do more podcasts, of course. There you go! That's the answer to everything. Go podcasting! All right how about this EpiPen bullshit? There is a lot going on with this. Well this EpiPen story... okay now we've talked about this sort of thing on the show a lot because it's something that galls me
2:45:45 The way the system works, and this is when Obama... we had when they were passing this Obamacare you know he would oh every once in a while slip between medical reform and health care reform an insurance reform. He interchangeably used these words because this isn't a giant insurance scam the entire Obamacare deal The Affordable Health Care Act. The Affordable Health Care Act is an insurance scam, and the idea is that everybody has to have health insurance. Okay I got my health insurance well how are these guys gonna make more and more money? Well by jacking up the price of their healthcare. And how can they do that well they need an excuse. Well the partners in arm now one of the big donors for the Obama election
2:46:29 The pharmas, the big pharmas all they have to do is just jack up their prices and they do it with all the drugs. And they jack up their prices and jack up their prices on the same product. And end user you or the person getting insurance pays the same little out of pocket like five bucks or 10 bucks but if you look at the numbers if you paid attention the base price of the drug has gone from $10 to 20 to 50 to 100 to more And so they jacked up the prices, you still pay the five bucks and you feel fine about that. But because the insurance company picks up the other $95 where they used to pick up five dollars They got a charge more for insurance and they do that with a rationale if ever get taken in front of Congress Oh no! No it's not us is the drug companies
2:47:14 And so everybody, it's a scam. It's a massive scam and so every once in awhile they find someone to bust their chop over as though it is something that only happening to them I believe the EpiPen thing is either because the company never coughed up any donations to Obama administration or some other angle and they're also to make it worse, they've set up the CEO who I've heard interviewed this woman. I've heard her interviewed she is a dummy she's a dumb cheerleader that somehow got to the CEO position no offense women listen to this yes she did get to that position through her father and one of our producers so i have to keep completely anonymous can't really even talk much about his note he said because he worked there he said
2:48:00 When she came in great tits dumb as a rock. Yes, and I'm sorry how that came across but that was literally what he said. She is a patsy! Yeah yeah yes And they keep pointing to her and she's so stupid And of course she's gonna walk away with a lot of money for a patsy even though Her life is going to be miserable people are gonna yell at her when she walks down the street Because it's like her fault for everything and I feel actually sorry for this woman. Although she is making a lot more money than I am. There is one small data point about this particular product, Mylan of course bought the company
2:48:39 in 2000 from from Merck in 2007 and This the ingredient is about to go out of patent. So it seems like hey one last push Let's get as much as we can before the generics come on the market and the FDA actually The FDA was supposed to approve a competing epifrine Epinephrine injector, that's not epinephrine at something else's a peanut freeing I think a pinaprene. A pinafreen, that's what i'm saying but yeah a pinafree and they didn't approve that device for oh yeah convenient now so there's no competing product on the market it's about to go generic jack up the price this is what happens absolutely well i have a clip that kind of talks about this a little bit
2:49:25 Every six minutes, life-threatening food allergies send someone to the hospital. The maker of EpiPen running this ad 46 times during the Olympics raising awareness while raising their bottom line hiking the cost of EpiPens from $100 in 2009 to more than $600 today and the EpiPen isn't the only one! The drug maker hiking the price on a slew of other medications 24 products seeing a more than 20% spike, seven products rising more than 100%. The drug maker CEO Heather Bresch's total compensation spiked too from two and a half million dollars her first year in 2007 to 19 million today. Early this year Bresch was asked if she thought drug prices should be regulated to make them more affordable? I hope
2:50:14 not because I don't think the answer is price controls. There are certainly outliers that are grabbing great headlines but it's not, it's not the answer." Top Senate members giving Mylan a deadline two weeks to respond to the pricing probe and a spokesperson for the maker of EpiPen Mylan saying that they personally contacted all those members of Congress and look forward to meeting with them David I do have a bit of a report after we talked about the cost of health care, particularly for me and how it's going up thanks to the poor strategy of the Affordable Care Act.
2:50:53 So here's the main advice I got. Pay the fine, don't take the bullshit insurance...I've got at least 15 different emails of people showing me how much money they really saved even when a kid broke their arm and all these different things now I haven't seen anyone say well I have cancer and I'm paying for it myself but without fail every single one of them says if you Say to the doctor, at the doctors office. I'm self-paying myself and willing to do that in cash if you can give me 50% discount They take it And the reason why is because insurance companies they sue, they argue, they harangle with these people They sometimes get it down to 30 cents on the dollar with the doctors So when a doctor can get it for 50 cents on the dollar their happy My doctor told me
2:51:47 that the biggest problem right now in the business and why people are shutting shop is because they can't deal with this. Everything, they fight everything you come in to get a B12 shot they fight it yeah he and he says that he knows somebody he says I don't know I can't prove it but this guy told me that he worked in one of these companies that one of these insurance operations and you are paid to as the person taking the call to approve the payment you're told to fight it just fight it put it off fight it, fight it and that thing is an absolute monster. And its unbelievable thats gone on this long what has congress done? Meanwhile they make a big deal out of this EpiPen Fiasco