The notion of consumerism as the religion of the United States is nothing new. That said, Warren Pollock did an excellent job explaining just how corrosive this mindset can be to a society. We were particularly taken by the idea that since the vast majority of people define themselves almost entirely by their level of consumption, or by some desired level of future consumption, their consciousness becomes easily controlled and their worldview easily managed and molded. They simply cannot see life in any other context and so they become trapped within a very sick and twisted form of human existence.
Warren Pollock reports on a rather troubling development which we can only attribute to various cost cutting measures by near-bankrupt states, as anything beyond that would be far too macabre even for us. It appears that "several drugs are in severe shortfall, drugs used to treat emergency patients that might be transported by ambulance to emergency rooms, the drugs include heart attack drugs, epinephrine, lidocain, as well as drugs used to treat shock and other conditions. These emergency care drugs are now in shortfall with alternate protocols going out to emergency services in various parts of the nation. This means that if you need emergency services, the drugs you rely upon to save your life may not be there." As WEP asks, "where have these drugs gone? It isunrealistic to suggest that a whole variety of emergency treatment drugs would go missing from the inventory all at the same time, and areas around the country all at the same time." Pollock highlights the states of TN, PA and CA may have already seen the incorporation of the "alternative protocol." Once again, we hope this is merely an interim shortage and not a widespread effort to impair the traditional operation of emergency technicians across the country.
Regular Zero Hedge guest Warren Pollock has taken UBS to court. An issue of contention is Pollock's question of just who it is that UBS has responsibility to: the market, its clients, or themselves. While the natural progression would be in the order presented, Pollock's claim is that it has become inverted, not only at UBS, with all banks caring exclusively about their own wealth and success first, above any secondary concerns they may have regarding proper treatment of markets or clients. This will be an interesting case to follow.
The always informative Warren Pollock has put together a very useful clip on former Fed Chairman Paul Volcker (who, as we discussed recently, had some scathing words for not only the existing TBTF infrastructure, but for Goldman Sachs itself). Recommended watching.