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Ed Krassenstein

@EdKrassen

Jul 14

WOW! These latest Trump poll numbers are horrific (Yougov).

Check these out.

His overall approval rating is just 39%, with 56% disapproving.

But it gets much worse (Thread)...

When it comes to deportations, only 41% approve, with 53% disapproving. Remember this is what he ran on.

On Trump's handling of Free Speech, only 37% approve with 50% disapproving.

Read 8 tweets

Ed Krassenstein

@EdKrassen

May 16

I literally just had the Secret Service at my house. More details in a minute.

Here are more details about how the Trump administration had the Secret Service show up at my home, simply for posting “8647" followed by an explanation in that thread saying I am not calling for violence. krassencast.com/p/breaking-tru…

More details. tiktok.com/t/ZP86qgEHc/

Read 6 tweets

Ed Krassenstein

@EdKrassen

May 11

BREAKING: Here's Trump's "huge announcement:

In reality your drug prices will not fall by 30-80%. It's just another Trump lie.

U.S. prices average 2.8× higher than other OECD countries, but only a few dozen infused specialty drugs account for most of that gap; big savings vanish once you move outside that slice.

An executive order can steer Medicare or Medicaid payments, but it cannot force manufacturers to cut the list price they charge private insurers, cash-pay patients, pharmacies, or wholesalers without an act of Congress. Trying anyway would be struck down under the Administrative Procedure Act and the Commerce Clause— exactly what killed Trump’s narrower 2020 MFN model in federal court.

Foreign prices are negotiated in secret rebates, not the public list numbers the U.S. could reference. Firms would simply raise their official list prices abroad and refund foreign health systems through confidential discounts.

Additionally Drugmakers will most likley sue under the Takings Clause (government-imposed below-cost sales), Due-Process and First-Amendment theories, and insurers would claim impairment of existing contracts.

Then there is the problem with US companies losing on R&D.

U.S. sales still supply ~60 % of global drug profits. An across-the-board 30-80 % cut would wipe out tens of billions in annual R-&-D funding, according to industry and independent economic models.

So basically this is the chain reaction of what is going to happen:

1) Manufacturers raise foreign list prices ⟶ U.S. reference price barely falls.

2) Foreign payers demand deeper rebates ⟶ firms offset by higher U.S. launch prices for new drugs.

3) Investment analysts mark down future cash-flows ⟶ biotech funding dries up; early-stage start-ups sell or fold.

4) U.S. jobs & tax base shrink, while patients still face high deductibles because list prices inside commercial insurance stay high.

Does he really think an Executive Order is going to get this done? It's crazy. Why isn't he passing any laws with Congress?

Read 4 tweets

Ed Krassenstein

@EdKrassen

Apr 16

WOAH! Judge Boasberg just said that the evidence in Trump’s deportation case shows “willful disregard [by the Trump administration] of its order" which the court concludes is probable cause to find the Trump administration "in CRIMINAL CONTEMPT" because he did not turn the plane of immigrants who did not receive due process around.

Judge Boasberg states: "Rather than comply with the Court’s Order, the Government continued the hurried removal operation. Early on Sunday morning — hours after the Order issued — it transferred two planeloads of passengers protected by the TRO into a Salvadoran mega-prison..."

"If a party chooses to disobey the order — rather than wait for it to be reversed through the judicial process — such disobedience is punishable as contempt"

Wow! Judge Boasberg completely unloads on the Trump administration:

"The Constitution does not tolerate willful disobedience of judicial orders — especially by officials of a coordinate branch who have sworn an oath to uphold it. To permit such officials to freely 'annul the judgments of the courts of the United States' would not just 'destroy the rights acquired under those judgments'; it would make 'a solemn mockery' of 'the constitution itself.'

Read 12 tweets

Ed Krassenstein

@EdKrassen

Apr 7

BREAKING: Blackrock CEO Fink says that he worries that Trump’s actions are much more inflationary than the markets expect, and the economy is weakening as we speak.

He also says that he sees a 0% chance of four or five interest rate cuts this year, and sees a chance of interest rising.

Additionally, he says that he is troubled that America is currently destabilizing, and doesn’t rule out another 20% market decline from here.

He also warned that Trump’s tariffs will weaken the US Dollar and that we are probably in a recession right now.

Blackrock CEO Larry Fink moments ago:

"One of the main foundations of the US is that we are a global stabilizer. Obviously in the last week we have not been a global stabilizer. Is this going to persist? Are there going to be new global stabilizers in the world?"

Quite the condemning statement by Blackrock CEO Larry Fink on Trump's administration:

“80 Days ago in Davos (before Trump), the phrase was ‘American Exceptionalism’ you heard everywhere. I’d say probably every meeting I went to, everyone was focused on how to do more in the United States. And obviously that has been thrown out right now.”

Read 7 tweets

Ed Krassenstein

@EdKrassen

Apr 4

For those who don't think they will be affected by Trump trade war, let me give you a brief economics lesson that you can easily understand.

70% of the products you buy on Amazon are produced in China.

(Thread) -->

Of the remaining 30% of the products you buy on Amazon that are NOT imported from China, approximately 1/2 of them rely on parts, materials or intermediaries that are sourced from China.

-->

This means that the costs of the vast majority of products you buy on Amazon will be tariffed at 54%.

That means that a widget that costs the seller $100 today, will now cost them $154 after the tariffs are added on.

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Read 6 tweets

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