COVID vaccination glitches for toddlers: https://www.yahoo.com/lifestyle/covid-vaccine-children-pharmacy-221535996.html . Access problems present a true danger. The children remain unvaccinated, and COVID has more opportunity to spread.
WSJ: US COVID wave plateauing: https://www.wsj.com/articles/latest-covid-19-wave-shows-signs-of-easing-11659711851 .
Biden still tests positive for COVID: https://www.usnews.com/news/top-news/articles/2022-08-05/biden-feels-well-still-tests-positive-for-covid-19-doctor .
Texan sentenced to 25 years for racial attack over COVID: https://apnews.com/article/covid-health-crime-texas-united-states-e59675a58309e88e19ad1a70749313cb . At first, the 25 year sentence seems remarkable. However, this 21-year-old bought a knife to slash the father and two small children. Even with early parole, he will spend his 20’s in federal prison.
US has administered over 7,300 Novavax COVID vaccine shots: https://www.usnews.com/news/us/articles/2022-08-05/u-s-administers-over-7-300-novavax-vaccine-doses-cdc .
Russia’s official COVID death toll passes 820,000: https://www.usnews.com/news/world/articles/2022-08-05/russias-official-toll-of-covid-related-deaths-exceeds-820-000 . And the excess death calculation suggests the toll is close to 1 million.
WSJ: New York polio virus: https://www.wsj.com/articles/more-polio-virus-found-in-new-york-wastewater-samples-11659708499 .
Indiana passes first post-Roe abortion ban: https://apnews.com/article/abortion-us-supreme-court-health-indianapolis-indiana-83fe300188fcf15d8a3b4a36ceee7443 . WSJ: More: https://www.wsj.com/articles/indiana-legislature-is-first-to-approve-abortion-bans-since-supreme-court-overturned-roe-v-wade-11659755538 .
US economy adds 528,000 jobs in July, more than double the 250,000 estimate: https://finance.yahoo.com/news/july-jobs-report-august-5-2022-123238307.html . This shocking data raises questions about the details of this number. Uber and Lyft have had robust recruiting and hiring lately, but generally these people are considered independent contractors. The labor force participation declined in July. So who are these people? Are these positions truly permanent, or are they temporary/seasonal work? Is part-time work somehow included? One suspects data adjustments will appear in coming months.
Whatever the technical details of this report, the Fed is likely to continue to raise rates. The Bank of America projection of 50 basis point increases at the September and December meetings are less than the two recent 75 basis point increases, but they are historically large. This is especially true on top of the recent increases. I agree with the 50 basis points for September. The December increase will be affected by holiday sales. However, if this jobs report is accurate, holiday sales may be robust. WSJ: More: https://www.wsj.com/articles/jobs-report-bolsters-bidens-message-but-inflation-makes-economy-a-hard-sell-11659715731 .
WSJ: Puff piece on analyzing the market: https://www.wsj.com/articles/wall-street-sentiment-survey-might-have-called-the-stock-markets-turn-11659700137. Data matters. Sentiment matters less. So sentiment has turned less bearish as the data shows a recession is upon us and likely to deepen. Which do you think is more important? More: https://www.wsj.com/articles/july-jobs-report-unemployment-rate-economy-growth-2022-11659646690 . Still more: https://www.wsj.com/articles/jobs-report-to-keep-fed-on-aggressive-tightening-path-11659714646 . Also: https://www.wsj.com/articles/recession-risks-are-mounting-heres-why-businesses-are-still-hiring-11659524580 . And Musk weighs in: https://www.wsj.com/articles/elon-musk-predicts-mild-recession-for-18-months-says-inflation-has-peaked-11659709427 .
China throws a hissy fit over Pelosi visit to Taiwan: https://apnews.com/article/taiwan-china-asia-beijing-b252479810add6a225fa1e4a6d441983 . WSJ: More: https://www.wsj.com/articles/pelosi-trip-bolsters-taiwan-while-creating-new-security-risks-strains-with-china-11659727123 .
WSJ: Evergrande unwind continues: https://www.wsj.com/articles/china-evergrande-backs-out-of-plan-to-build-worlds-largest-soccer-stadium-11659694090 . While the creditors welcome this $818 million coming back in the door, it’s a drop in the bucket relative to Evergrande’s overall problems.
Jury stops Alex Jones with $45.2 million award of punitive damages: https://www.yahoo.com/video/alex-jones-ordered-pay-45-224457675.html . Together with the compensatory damages of $4.1 million, Jones is on the hook for almost $50 million. Punitive damages are often limited to a low multiple of the compensatory damages – the multiplier of 11 here could be challenged. However, if a large multiplier was ever justified, this is the case.
May I add my congratulations to the parents for honoring the Sandy Hook victims in this way, and preventing other from suffering from Jones’ absurd lies. I hope they shut him down as Ron Goldman’s father shut down OJ Simpson – dog him for every vent of the verdict until the end of his life. WSJ: More: https://www.wsj.com/articles/alex-jones-ordered-to-pay-punitive-damages-to-sandy-hook-parents-11659736459 .
A surprise is brewing in Southwest Washington: https://www.kgw.com/article/news/politics/elections/kent-beutler-lead-election-race-primary/283-46356a80-b6e1-40b8-bd12-5d47cae1e7e9 . While media reports declared Jaime Herrera-Beutler a comfortable second in this all-party primary race, mail-in ballots are changing the landscape. Should Joe Kent pull into second place, the unknown Democrat has a real shot of defeating him. A safe Republican seat may have a Democratic congresswoman, thanks to OJ’s wrath at Herrera-Beutler for voting to impeach him.
GOP picks Milwaukee for 2024 convention: https://apnews.com/article/2022-midterm-elections-wisconsin-presidential-milwaukee-nashville-7fa0c10f49caebca91e7044e09075838 . Why? Do they think they can swing Wisconsin? Based on my visits to Milwaukee, this isn’t the most exciting convention venue available, and it can be miserable in the summer. Oh well, beer and brats …
WSJ: Ukrainian wheat shipments expand: https://www.wsj.com/articles/first-convoy-of-ships-carrying-ukrainian-grain-leave-odessa-under-new-deal-11659697193 .
Greece’s Tomb of the Griffin Warrior: https://en.wikipedia.org/wiki/Griffin_Warrior_Tomb . I stumbled across this from a reference in another article. As remarkable as this is, follow the link in the Wikipedia article to the Pylos Combat Agate (or just click here: https://en.wikipedia.org/wiki/Pylos_Combat_Agate ). One would think this was created with the aid of a magnification tool. If so, we really don’t know much about the artistic capabilities of ancient civilizations.