US exceeds 800,000 COVID deaths: https://www.aol.com/news/1-u-covid-19-deaths-155851826-005218086.html . The COVID pandemic is the deadliest event in US history, surpassing for example American deaths in the Civil War or World War II.
US exceeds 50 million COVID cases: https://www.nasdaq.com/articles/u.s.-crosses-50-million-covid-19-cases-as-delta-dominates-amid-omicron-emergence . So you might be tempted to estimate the COVID mortality rate at 1.6% (800,000 divided by 50 million). However, due to asymptomatic, mild cases and social stigma in conservative communities, we believe COVID cases are underreported by a factor of 2. This cuts the mortality rate estimate to 0.8%, closer to our prior estimates of a 0.6% mortality rate. Furthermore, significant improvement in treatment protocols and the development of antiviral drugs may be further reducing the COVID mortality rate below the 0.6% estimate.
Omicron forces UK to raise virus alert level from 3 to 4: https://apnews.com/article/tornadoes-business-illinois-edwardsville-4ba2dbe420ac27c6828f4ee4edb036f6 .
Omicron believed to cause more superspreader events: https://www.theguardian.com/world/2021/dec/12/how-omicron-appears-to-be-infecting-britain-despite-the-vaccine . The article argues that this results from Omicron’s ability to more easily evade current vaccine protection.
WSJ: Explanation of genomic sequencing: https://www.wsj.com/articles/how-sequencing-covid-19s-viral-genome-helps-hunt-for-variants-11639314003 . The graphics are flashy. However, our limited use of genomic sequencing together with slow turnaround times means that as a practical matter the US is not using this technology in a meaningful way.
WSJ: We’re slowly catching up on recent COVID and other news: https://www.wsj.com/articles/covid-19-cases-rise-in-many-states-after-thanksgiving-11639317602 and https://www.wsj.com/articles/pfizer-booster-shots-are-effective-against-omicron-variant-israeli-study-says-11639317136 and https://www.wsj.com/articles/californias-gavin-newsom-proposes-letting-citizens-sue-gun-makers-11639281730 . Most other media outlets (and this newsletter) have reported on all of these matters in recent days.
Japanese scientists claim progress against aging: https://www.msn.com/en-us/health/medical/japanese-scientists-claim-vaccine-removes-zombie-cells-behind-aging-related-diseases/ar-AARK5Gs?li=BBnb7Kz .
South Korea and others look to track COVID cases through facial recognition software: https://www.usnews.com/news/technology/articles/2021-12-12/south-korea-to-test-ai-powered-facial-recognition-to-track-covid-19-cases . Privacy concerns make this approach problematic in the US. The comment in the article that several US states have experimented with this approach seems dubious. Here is the only Columbia Law Review topic I’ve found on the topic: http://hrlr.law.columbia.edu/hrlr-online/you-can-see-my-face-why-cant-i-facial-recognition-and-brady/ . However, the article is written by a law student, and there is no discussion of COVID.
France working to stem flood of fake COVID passes: https://apnews.com/article/coronavirus-pandemic-technology-business-health-france-b66d11ea17f6d1ab1f83d55b41585060 . So if the pass were more like a driver’s license, the problem could be quickly controlled. But then, our vaccination cards are pretty much like a piece of cardboard.
Ex-NFL player imprisoned for COVID relief fraud: https://www.nbcnews.com/news/us-news/former-nfl-wide-receiver-bellamy-sentenced-3-years-covid-relief-fraud-rcna8446 .
WSJ: US currently has deeply negative real rates of return: https://www.wsj.com/articles/inflation-surge-pushes-u-s-real-interest-rates-into-more-deeply-negative-territory-11639321204 . With inflation at 6.8% and bond interest rates near zero, this is obviously true. This factor alone explains why the Fed is looking to tighten policy, reduce bond purchases and raise interest rates during 2022. More on inflation: https://www.wsj.com/articles/how-the-biden-admin-misjudged-inflation-11639166425 .
Newsom pushes assault weapon ban based on Texas abortion law: https://www.npr.org/2021/12/12/1063489922/california-governor-gavin-newsom-assault-weapons-ban-texas-abortion-law . The rule of law intends to create a cohesive framework. The vigilante basis of the Texas abortion law has at its heart an attempt to evade the limits regarding state action. So Newsom challenges the conservative wing of the Supreme Court with the consequences of its actions.
The abortion fight is currently centered on the Mississippi law. Newsom looks to sever the Texas law from that argument in order to focus on the vigilante ruse, which threatens the rule of law. As we know, Chief Justice Roberts agrees. However, Newsom is giving him more “ammunition”.
WSJ: Biden to press Manchin on Build Back Better this week: https://www.wsj.com/articles/biden-aims-to-win-pivotal-democrats-support-for-2-trillion-spending-plan-11639341192 . So again, in my view Democrats must pass something like the current bill this month, or face major losses in the 2022 elections.
Tornado carnage in Kentucky: https://news.yahoo.com/andy-beshear-tornadoes-kentucky-towns-151706796.html . It remains hard to grasp that one tornado remained on the ground for perhaps 227 miles. Amazon warehouse death toll raised to 6: https://apnews.com/article/tornadoes-business-illinois-edwardsville-4ba2dbe420ac27c6828f4ee4edb036f6 . This facility opened in July 2020. Building code review must happen immediately across all areas subject to tornadoes. Authorities suspect there are additional casualties but have not released details: https://apnews.com/article/tornado-amazon-facility-collapse-llinois-4ba2dbe420ac27c6828f4ee4edb036f6 . More: https://www.msn.com/en-us/news/us/rescuers-search-for-survivors-as-death-toll-climbs-after-catastrophic-tornadoes-ripped-through-5-states/ar-AARJRjU?li=BBnb7Kz . WSJ: More: https://www.wsj.com/articles/rescuers-search-for-those-missing-after-destructive-tornadoes-in-kentucky-illinois-11639325118 .
Chris Wallace leaves FOX for CNN+: https://www.nbcnews.com/news/us-news/chris-wallace-announces-leaving-fox-news-18-years-rcna8501 . The sole voice of sanity on Fox leaves. Wallace resided at Fox for 18 years, creating credibility among Fox viewers that another sane person cannot duplicate. But who would choose to work with a network that daily spews the poison of Tucker Carlson and Sean Hannity? Someone who values money over the truth, and therefore has little credibility. And that assumes Fox would even try. The echo chamber at Fox consolidates.
Florida Republicans register voters in strong ground game: https://apnews.com/article/elections-florida-voting-campaigns-ron-desantis-ae125333802a067530537bcacfcf1830 . So forget all the bluster. The GOP is winning on the ground right now in Florida.
Blacks ditch Facebook for TikTok: https://www.aol.com/news/black-people-facebook-more-anyone-195234188.html . This article contains good information about the business and use of social media. It also explains why even media outlets like the Journal create conferences and other contact points to engage their subscribers.
Anne Rice passes: https://apnews.com/article/anne-rice-dies-books-entertainment-572dfa32e073787e307db1ffd5f8b684 . WSJ: More: https://www.wsj.com/articles/anne-rice-author-of-gothic-novels-dies-at-age-80-11639316285 .