Masking recommended for the “tripledemic”: https://www.msn.com/en-us/health/other/amid-a-tripledemic-it-s-time-to-mask-up-again-experts-say/ar-AA15es3P?cvid=7393b1bdcac34650936aace7048190ae .
Long COVID caused 3,500 deaths so far: https://www.cbsnews.com/news/long-covid-deaths-cdc-report/ . We still lack a true grasp of the dangers of long COVID.
DeMentis goes full lunatic with attack on COVID vaccines: https://apnews.com/article/ron-desantis-health-florida-covid-government-and-politics-378f02d9e085917de5276a11511e9445 . One really tires of political theater from Ron’s alternate universe. The drug companies produced vaccines in record time, saved hundreds of thousands of lives in the US alone, went through the standard FDA approval process, and now face baseless attacks b the GOP’s new favorite authoritarian. Ron has now proven that he is indeed a bigger jerk than Orange Julius.
US faces “incredible” RSV surge: https://www.yahoo.com/lifestyle/what-is-causing-this-incredible-surge-of-rsv-experts-explain-232212008.html .
Moderna reports positive cancer vaccine data: https://www.usnews.com/news/top-news/articles/2022-12-13/moderna-merck-cancer-vaccine-combo-cuts-melanoma-recurrence-by-44 . This was their primary research effort before the pandemic, and it appears to be paying off.
China reduces COVID reporting as cases surge: https://apnews.com/article/health-business-china-beijing-covid-9e0fc4ddc2537cb04535b334223dd442 . Readers will recall that this was the DeMentis strategy for dealing with the pandemic. China apparently is taking its playbook from the latest GOP authoritarian.
China switches from Zero COVID to mass murder: https://www.usnews.com/news/world/articles/2022-12-14/in-covid-u-turn-chinas-message-to-the-people-shifts-from-war-to-self-care . Again, projections indicate that China will suffer 1.5 million deaths from reopening at the present time. If anything, that projection is low. But will we ever know the true picture? More: https://www.usnews.com/news/world/articles/2022-12-13/tough-times-warnings-sound-over-chinas-rapid-zero-covid-exit . The WHO appears completely incompetent. “Tough times” grossly understates what science currently projects.
China’s COVID wave slowing business production: https://www.usnews.com/news/top-news/articles/2022-12-13/hit-by-covid-wave-companies-in-china-strain-to-keep-operations-running-normally . WSJ: More: https://www.wsj.com/articles/chinas-zero-covid-policy-is-ending-but-not-everyone-is-celebrating-11670937991 .
China to step up vaccination of elderly: https://www.usnews.com/news/world/articles/2022-12-13/china-to-roll-out-second-covid-vaccine-booster-for-high-risk-groups-elderly . I guess vaccination with a crappy vaccine is better than nothing.
WSJ: Hong Kong scraps COVID entry restrictions: https://www.wsj.com/articles/hong-kong-scraps-covid-19-entry-restrictions-in-latest-reopening-move-11670914502 . I wouldn’t plan a visit to Hong Kong in the next six months. For one thing, there may not be any hospital beds.
Fed to announce rate hike Wednesday: https://apnews.com/article/inflation-business-jerome-powell-government-and-politics-81b03a1a55ae8a934e2df45120912133 . The rate hike is now expected to be 50 basis points, as we have previously reported. However, also as previously reported, the Fed expects the ultimate rate to be higher than anticipated at the September meeting. This is the more important part of the message, and the recent market rally has in my view been irrational. WSJ: More or less: https://www.wsj.com/articles/slowing-inflation-could-intensify-fed-debate-over-when-to-stop-raising-rates-11670947999 . It is possible (and I think likely) that the Fed will slow to 25 basis point increases after 1 or 2 50 basis point hikes. The question is how many 25’s will occur before the Fed stops. The dovish view described here is not supported by the data.
WSJ: The puzzle of the current-yield on 10 year Treasuries: https://www.wsj.com/articles/unpredictable-10-year-treasury-yield-poses-puzzle-for-investors-fed-11670940048 . The 10-year bond yielded 4.17% on November 8. It yielded 3.41% on December 8. As far as I know, everyone who follows these yields is shocked by a 76 basis point decline in a period where the Fed is aggressively raising rates. Note carefully the point in this article that the Fed could force the long-term rate higher by continuing to raise short-term rates. That obviously did not work in the one-month period just mentioned. But again, it is the only tool the Fed has.
WSJ: Inflation tracker: https://www.wsj.com/articles/inflation-tracker-cpi-data-prices-11657717467 . My view continues to be that inflation will stay stubbornly above 5% for quite some time.
Lawmakers announce framework on debt ceiling increase: https://apnews.com/article/connecticut-government-and-politics-9cb960cc6cebebfc893e0de6eee82eda . WSJ: More: https://www.wsj.com/articles/senate-leaders-say-deal-close-on-funding-government-for-full-year-11670970176 .
US to send Patriot missiles to Ukraine: https://apnews.com/article/russia-ukraine-zelenskyy-government-and-politics-ba8468e34e3c7eb78bdc47393c417ecb . Russia’s missile attacks on the Ukrainian power grid are another war crime. The US must act to stop these atrocities.
WSJ: The path ahead for Russia: https://www.wsj.com/articles/russia-war-ukraine-putin-whats-next-11670851829 . While a defenestration of Putin is possible, it is more likely that Putin’s health will continue to worsen. It seems unlikely that the new leader will continue the disastrous Ukrainian war.
10th Circuit makes pro-OJ lawyers pay legal expenses of the other side: https://www.benzinga.com/news/22/12/30070465/pro-trump-lawyers-who-lost-utterly-baseless-2020-election-lawsuit-must-now-cover-legal-fees-of-meta . So these dimwits claim that the verdict will chill other lawyers from filing lawsuits like this. That is the entire point, you idiots. Blowing off evidence class was not a good idea.
DOJ charges SBF with 8 counts of criminal fraud: https://www.cnn.com/business/live-news/ftx-sam-bankman-fried/index.html . Other reporting indicates the Bahamas will cooperate in extradition to the US, while SBF considers fighting it. The rapid action by DOJ indicates they consider their case against him overwhelming. More: https://www.nbcnews.com/politics/elections/samuel-bankman-fried-accused-making-illegal-campaign-contributions-rcna61520 . WSJ: More: https://www.wsj.com/articles/sam-bankman-fried-says-ftxs-law-firm-pushed-for-bankruptcy-11670969128 . Still more: https://www.wsj.com/articles/ftx-founders-quick-arrest-highlights-faster-pace-of-white-collar-prosecutions-11670960999 . And: https://www.wsj.com/articles/ftx-ceo-says-sam-bankman-fried-released-crypto-in-bahamas-to-undermine-chapter-11-11670974145 . Also: https://www.wsj.com/articles/ftxs-sam-bankman-fried-charged-with-criminal-fraud-conspiracy-11670951131 .
Binance freezes withdrawals as run on the “bank” grows: https://www.msn.com/en-us/money/markets/crypto-exchange-binance-freezes-withdrawals-of-stablecoin-usdc-as-rattled-investors-pull-2-billion-in-funds/ar-AA15dwsB?cvid=adf14cfaaa47496197bba8ae652fc667 . Binance needs to reopen quickly in order to avoid further panic. But that might not be possible.
WSJ: We know what happened last week. Anything new?: https://www.wsj.com/articles/ftx-and-sam-bankman-fried-your-guide-to-the-crypto-crash-11669375609 . This “guide to the crypto crash” was woefully outdated when published today. The Journal really seems to have lost editorial focus.
DOE announces nuclear fusion breakthrough: https://news.yahoo.com/nuclear-fusion-breakthrough-an-enormous-game-changer-constellation-energy-ceo-says-152313098.html . We’ve gone from “Is it possible?” to “Is it practical?”. This is indeed a huge advance. WSJ: More: https://www.wsj.com/articles/nuclear-fusion-energy-breakthrough-reported-by-scientists-at-u-s-lab-11670944595 . Still more: https://www.wsj.com/articles/nuclear-fusion-breakthrough-what-to-know-11670976073 . This article contains such need-to-know tidbits as the difference between fusion and fission …
WSJ: Oregon governor commutes all death sentences: https://www.wsj.com/articles/oregon-governor-commutes-sentences-of-inmates-on-death-row-11670985834 . The 16 men and 1 woman now will serve life in prison without possibility of parole.
WSJ: Mauna Loa eruption ends: https://www.wsj.com/articles/hawaiis-mauna-loa-volcano-stops-erupting-sparing-communities-11670961142 .
World Cup 2022: Argentina hammers Croatia to reach final: https://www.npr.org/2022/12/13/1142520258/argentina-croatia-semifinal-world-cup-qatar . WSJ: More: https://www.wsj.com/articles/argentina-messi-world-cup-final-france-morocco-qatar-11670964938 . Next up: France v. Morocco: https://www.wsj.com/articles/world-cup-morocco-hottest-ticket-11670945509 . The final is Sunday morning (at 7 am on the West Coast – yikes!).