Fifth person cured of HIV: https://abcnews.go.com/Health/5th-person-confirmed-cured-hiv/story?id=97323361 . These cures occur when blood cancer patients undergo stem cell transplants. The patient receives stem cells from a donor who, like about 1% of the population, has a genetic mutation that deletes a protein known as CCR5. Because this protein is the mechanism by which the HIV virus enters human cells, the body is able to clear the HIV virus.
I would guess that these patients had leukemia rather than lymphoma. Lymphoma treatment now typically involves use of the patient’s own stem cells (an autologous transplant), which is less risky than using a bone marrow donor. Donors must be used for leukemia because the cancerous white blood cells are produced by the bone marrow. In lymphoma, the juvenile white blood cells migrate to the lymph nodes to mature, and defects in the lymph system cause the white blood cells to become cancerous.
More on use of electrical impulses to help stroke victims: https://apnews.com/article/pain-management-pittsburgh-stroke-health-198f8bdfc5803ef3594e9916685fe739 . This article adds more details to yesterday’s report on this experiment. In summary, restoring hand and arm movement is more complex than doing so for legs and feet because of the fine motor skills involved. While extensive physical training can produce limited results over time, this stimulation technique has produced larger gains, and quickly. More research will be necessary to convert this into a standard therapy.
The attraction of the bond market – over time: https://www.msn.com/en-us/money/markets/the-stock-market-is-under-pressure-because-3-key-sources-of-liquidity-have-dried-up-bank-of-america-says/ar-AA17LqoT?ocid=hpmsn&cvid=c09d8d543ca440009f3d1c3aeb95b60b . Excess liquidity has propped up the stock market. However, not only have these sources of liquidity disappeared, the Fed is selling nearly $100 billion of bonds per month. This reduces prices, raising yield. However, the play continues to be to buy short and medium term bonds and hold to maturity. Longer term bonds have a significant devaluation risk as yields continue to rise.
Even at $100 billion per month, the Fed has a long way to go. The $8 trillion in bonds represents about a third of the US annual Gross National Product. That is just way too high, and represents a very powerful reason why the Fed must continue to hold interest rates high for an extended period of time.
The markets suffered their worst decline of 2023 today as investors began to accept this obvious reality. But there is likely much more stock market pain to come.
WSJ: Big office landlord defaults increase: https://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0 . If you are looking for deep recession signs in the US, here’s one. The sustained increase in interest rates will crush the business model of many office landlords – and it’s starting … Remember, this is exactly the mess that is cutting China’s growth …
Resilience in global economy?: WSJ: https://www.wsj.com/articles/europes-economy-picks-up-after-year-of-war-in-ukraine-26389fba . Um, this is Europe, which is less than 30% of the global economy. The Journal now does not understand the difference between micro- and macro-economics. They are lost.
WSJ: US home sales drop for 12th straight month: https://www.wsj.com/articles/office-landlord-defaults-are-escalating-as-lenders-brace-for-more-distress-894938c0 . Second verse, same as the first …
WSJ: Turkey-Syria death toll now at 48,000: https://www.wsj.com/articles/latest-earthquake-in-turkey-leaves-at-least-six-dead-hundreds-injured-fc488a17 . While the second earthquake incident death toll stands at 6, the Journal confirms the death toll from the first incident (two earthquakes) has surpassed 48,000.
Ukraine war: Rift between Wagner and Russian military: WSJ: https://www.wsj.com/articles/russias-war-machine-tested-by-rift-between-military-wagner-group-7e83b016 . Putin sees this as a power struggle between himself and Wagner’s leader. Is Prigozhin headed for a window (defenestration)?
“Confused” justices means “You’re losing”: https://www.msn.com/en-us/money/other/justices-from-alito-to-jackson-are-confused-by-internet-legal-shield-case/ar-AA17L579?ocid=hpmsn&cvid=2cb6cd55f83c488a85a62027a0911d43 . This reporter seems unfamiliar with Supreme Court behavior. The advocates at the Supreme Court have the primary task of explaining their client’s position to the Court. When a Supreme Court Justice says, “I’m confused”, that means they are not hearing a legally sustainable argument. It is a huge, waving red flag to the lawyer to change course. When justices from both ends of the Court’s spectrum make that comment, they agree the attorney is not stating a case.
As if this wasn’t already clear enough, Justice Alito’s “whatever argument you’re making” and Justice Brown’s “thoroughly confused” are remarkably negative comments from the Court. Eric Schnapper should never bring a case to the Supreme Court again; he does not have what a senior appellate attorney needs. WSJ: More: https://www.wsj.com/articles/justices-express-skepticism-at-holding-google-liable-for-content-c0f41598 . This feels like a 9-0 decision in the making …
Georgia grand jury recommended more than a dozen indictments in Orange Julius election fraud case: https://www.nbcnews.com/politics/donald-trump/georgia-grand-jury-recommended-indictments-dozen-people-trump-probe-fo-rcna71675 . In legal terminology, the roof just fell in on these lying a**holes. Expect Georgia to indict most of these people in the near future, because the prosecutor led the special grand jury to these conclusions.
Meanwhile, Kevin McCarthy is still an idiot: https://www.axios.com/2023/02/20/kevin-mccarthy-tucker-carlson-jan-6-riot-footage . With the large number of ongoing trials, providing this footage to Fox News is the height of irresponsibility. At best, Fox Not-the-News will select highly edited clips to mislead its audience. At worst, this will damage DOJ’s efforts to bring the seditionists to justice. Once again, quoting Bugs Bunny, What a maroon! More: https://thehill.com/homenews/house/3868290-jeffries-slams-providing-fox-with-jan-6-footage-as-egregious-security-breach/ . WSJ: Murdock owns us, so officially we have no idea: https://www.wsj.com/articles/tucker-carlson-obtains-jan-6-riot-footage-prompting-anger-from-democrats-ef789497 . When you’re set up as a manure factory, that’s pretty much all you know … keep shoveling …
Things just get weirder in MAGA world: https://apnews.com/article/politics-arizona-state-government-us-republican-party-united-states-2022-midterm-elections-83b69ddc64c94aad9f5cfb63d0af4f5a . Apparently Arizona retirees drink heavily. Kari Lake may look nice, but she is rotten to the core. The courts will continue to tell her that in increasingly forceful terms.
Nikki Haley promotes her entry into the Idiot Olympics: https://thehill.com/homenews/campaign/3868703-nikki-haley-bernie-sanders-is-exactly-the-reason-mental-competency-tests-are-needed/ . We all understand that Nikki Haley’s politics are different than Bernie Sanders. But does any sane person who has listened to Bernie Sanders think he would fail a mental competency test? (Hint: No. Hell no.) It would be best if Nikki withdraws her self-serving presence from American politics.
Barbara Lee enters California Senate race: https://www.wsj.com/articles/rep-barbara-lee-officially-enters-crowded-race-for-california-senate-seat-da6db8a1 . Like Nikki, this is self-serving and ill advised. In the California Democratic primary, Adam Schiff was leading Katie Porter. As Lee notes, her age is a disqualifier, and bringing it up in her announcement was a rookie mistake. She is at best third in the Democratic field, and will take more votes away from Porter than from Schiff.
OJ uses $10 million of donor money to pay personal legal bills: https://www.rollingstone.com/politics/politics-news/trump-10-million-donor-money-personal-legal-bills-1234683708/ . Yes, this is a campaign finance crime. My favorite line in this article: “[OJ’s] legal troubles are so vast his lawyers are hiring their own lawyers.” That’s true, and fair, but it misses the point. Only poor lawyers get themselves in legal trouble; those are the only lawyers OJ has access to. The Titanic sunk on its maiden voyage. This bucket-of-bolts former President has been allowed to BS on far, far too long.
SEC fines Mormon Church $5 million over reporting failures: https://apnews.com/article/mormonism-us-securities-and-exchange-commission-religion-business-a598c9ef9544f57e0b60d5ca80774bf7 . While $5 million may seem small relative to the concealment of a $32 billion portfolio over 22 years, the Church clearly intended to conceal the size of its holdings. This is essentially a warning shot across the bow. Anything less than the required disclosure in the future will likely generate considerable problems for the Church. WSJ: More: https://www.wsj.com/articles/church-of-jesus-christ-of-latter-day-saints-its-investment-adviser-settle-sec-probe-792ffc71 .
If you want to understand the West, here it is in one house (I hope the link works for all of you): https://www.sunset.com/home-garden/home-tours/craftsman-airplane-bungalow?utm_source=nl&utm_medium=email&utm_campaign=bow&utm_content=B&utm_term=SUN%20Weekly%20NL:%20Engaged . As most of you know, I grew up in Oregon, and my family has been here since just after the Civil War. If you saw (cut) us in half, you will see wood grains just like those displayed in this house. While the house was built in Northern California, almost all the prized wood came from old growth, repurposed Oregon timber. I hope you enjoy this home …
A night of total bliss: Tonight I spent two hours at a local hospital with my newly arrived first grandchild, Connor. Days don’t get better than this.