United States

Authored by Gilbert Berdine via The Mises Institute,

Enter “outrageous drug prices” into Google and you will receive plenty of examples. As reported here, Marathon Pharmaceuticals planned to charge $89,000 per year for its Emflaza brand of the corticosteroid deflazacort. Deflazacort was introduced in 1969 and is available outside the U.S. for less than $2 per tablet. US patients with muscular dystrophy have been obtaining the drug for around $1,500 per year from foreign sources.

After President Donald Trump warned on Friday that the US military is “locked and loaded” and presumably prepared for an all-out nuclear showdown with North Korea, administration officials engaged in that most artful of Trump-era maneuvers: softening the president’s rhetoric without appearing to undercut him.

by Ron Paul

There is something unsettling about how President Trump has surrounded himself with generals. From his defense secretary to his national security advisor to his White House chief of staff, Trump looks to senior military officers to fill key positions that have been customarily filled by civilians. He’s surrounded by generals and threatens war at the drop of a hat.

In light of today's euphoric market reaction, which has seen the VIX plunge by over 3 vols, or 20% lower, to just over 12 and sent both the Nasdaq and S&P higher by 1% on relief that there were no mushroom clouds of the weekend, the jury is out whether last week's sharp risk off, short-vol mauling will persist or be just another BTFD opportunity. But while last week's tension may already be forgotten, some disturbing trends persist.

Canadian lumber stocks are diving this morning following a report from BMO analyst Mark Wilde who writes that "prospects for a near-term settlement of the U.S./Canadian lumber dispute have faded", prompting him to downgrade the main players in the space. The report has sent the stocks of West Frasier Timber (WFT), Canfor (CFP) and Interfor (IFP) as much as 6%, 4.6% and 6.2% lower, respectively.