Why US life expectancy declines: https://www.npr.org/sections/health-shots/2023/03/25/1164819944/live-free-and-die-the-sad-state-of-u-s-life-expectancy . The article focuses on a 10-year-old report, with an author telling us, “Told you so”: https://pubmed.ncbi.nlm.nih.gov/24006554/ . The report gets many things right. However, many things have happened in the last 10 years which deserve discussion and addition to these comments.
The COVID pandemic is the major driver of recent life expectancy declines and continues to kill over 100,000 Americans annually. COVID is becoming endemic and will continue to generate high levels of death and disability. The author mentions the opioid surge, which was a mostly US phenomenon and has killed over 100,000 annually in recent years. Gun violence has grown over these 10 years, with gun violence now the leading cause of death among children 1 to 18.
That said, this is one of the most worthwhile articles to be referenced in this newsletter. It is worth reading and then considering what you and other Americans can do to overcome the dangers of living in the United States.
WHO recommends semiannual COVID boosters: https://www.usnews.com/news/health-news/articles/2023-03-28/who-vaccine-advisory-group-endorses-covid-19-booster-shots-every-6-months-for-some . The recommendation applies to the most vulnerable populations – the elderly and the immunocompromised. We have previously advocated this rule in the US. Will the Feds revisit this issue?
Healthcare labor shortage abates: https://www.axios.com/2023/03/27/pandemic-health-labor-shortage-over . However, note that nursing home and residential care employment is 270,000 below 3 years ago. Isn’t a major factor here that the pandemic wiped out a lot of the most vulnerable elderly, and that people are now less likely to go into those settings because they were death traps during the height of the pandemic? (Hint: Yes. This was also the major factor in recent life expectancy declines.)
North Carolina becomes 40th state (plus DC) to adopt Medicaid expansion: https://www.npr.org/2023/03/28/1166422758/north-carolina-governor-signs-into-law-the-medicaid-expansion-bill . Just to be clear, the GOP comments in North Carolina about budget concerns are completely dishonest. When the ACA was passed, Medicaid expansion was 100% funded by the federal government for 2014 through 2016, then 95% for 2017 through 2019, and 90% for 2020 and future years. Even at 90%, for every dollar the state puts in, it gets 9 more to spend on healthcare for its lower income residents. This is essentially a no-brainer deal, which North Carolina has adopted on the 13th anniversary of the passage of the ACA.
However, in GOP politics, even a no-brainer is the equivalent of calculus with complex numbers. The 10 states which still refuse these funds are almost all bright red: Alabama, Florida, Georgia, Kansas, Mississippi, Missouri, South Carolina, Tennessee, Texas, Wisconsin and Wyoming. The GOP “War on the Poor” continues …
Michigan repeals its “right-to-work” law: https://www.aol.com/michigan-becomes-first-state-decades-090007194.html . For the uninitiated, right to work laws are actually union-busting laws. The concept of “freedom to contract” assumes equal bargaining power between the parties. That is almost never the case between an employer and an employee.
WSJ: US companies face debt refinancing: https://www.wsj.com/articles/higher-rates-are-coming-for-u-s-companies-edbe2f23 . The 2023 number does not seem as daunting as the 2024 amount, until you process the comment that debt is usually refinanced 12 to 18 months ahead of maturity. The sharp interest rate increases will squeeze the profit margins of all companies caught in this vise.
WSJ: Sanctions bite Russian economy: https://www.wsj.com/articles/russias-economy-is-starting-to-come-undone-431a2878 .
Renewable power passes coal in 2022: https://apnews.com/article/renewable-energy-coal-nuclear-climate-change-dd4a0b168fe057f430e37398615155a0 . We are making progress. However, combined fossil fuels (coal plus natural gas) provided 60% of US energy in 2021 and 59% in 2022. We have to do better, faster.
WSJ: US-Japan bilateral deal on rare earth minerals: https://www.wsj.com/articles/u-s-and-japan-strike-deal-on-minerals-used-in-batteries-for-electric-cars-bbf8b8ee . This represents further movement toward the “two axes” global economy discussed here regularly. More on chip production: https://www.wsj.com/articles/for-chip-makers-a-choice-between-the-u-s-and-china-looms-5450df30 . Second verse, same as the first. The US says trade with China is okay, but not on critical technology.
WSJ: McCarthy still wants to attach spending limits to debt ceiling increase without a budget plan: https://www.wsj.com/articles/kevin-mccarthy-pushes-for-debt-ceiling-talks-as-unity-eludes-gop-d6b2404d . Again, this does not make logical sense. The budget discussion will be challenging; creating separate spending constraints with no overall goal just makes everything more difficult. At this rate, there will no debt ceiling increase in April or May, and we draw closer to another self-created crisis.
SBF indicted again over $40 million bribe to China: https://www.aol.com/finance/ftxs-bankman-fried-charged-bribery-163715276.html . The crypto hits just keep on coming. If FTX ran into these problems in China, what does this say about Binance? WSJ: More: https://www.wsj.com/articles/ftx-founder-sam-bankman-fried-faces-new-criminal-charge-f9aeb0ce .
WSJ: Binance sees huge deposit outflows as troubles mount: https://www.wsj.com/articles/binance-sees-2-billion-in-outflows-as-troubles-compound-9a136e21 . People with skin in the game have as many questions as I do about Binance.
WSJ: Ukraine insists Bakhmut stand is eliminating Russian troops: https://www.wsj.com/articles/ukraine-says-bakhmut-tactics-will-give-it-advantages-elsewhere-e73a7a74 . These claims are credible. Even if they do not prove out, Ukraine is winning the propaganda war.
Nikki Haley declares herself to be power-hungry and thought-free: https://www.aol.com/nikki-haley-wants-ban-tiktok-090008535.html . After yet another school shooting of small children, Ms. Haley falls back on the thoughtless culture wars the GOP has subjected this country to for so long now. As Ms. Haley’s presidential campaign is a personal ego gratification destined to fail, until Ms. Haley says something thoughtful and constructive, we say, “So long now”.
Ginni Thomas, election denier, was involved in anonymous fundraising for conservative groups: https://www.aol.com/ginni-thomas-raised-nearly-600-154012873.html . Let’s be clear. No one would pay attention to Ginni Thomas except for the fact that she is Clarence Thomas’ wife. Of course this raises ethical questions for the Court. Of course the Court should implement a code of conduct. When it does, political involvement by a justice’s spouse should be addressed.
WSJ: NY grand jury won’t take up Orange Julius’ hush money payment again this week: https://www.wsj.com/articles/trump-grand-jury-wont-consider-hush-money-probe-again-this-week-d84ff82c .
Mike Pence must testify before grand jury investigating OJ’s incitement of January 6: https://apnews.com/article/pence-testify-grand-jury-trump-subpoena-07bdd3e97230dc28787f0becb98bcb4b . As noted previously, Pence’s legal defense is interesting but bogus. He’s just trying to run out the clock while he pursues his non-starting presidential campaign. WSJ: More: https://www.wsj.com/articles/mike-pence-ordered-to-testify-in-jan-6-probe-a77eb230 .
French raid 5 banks over alleged tax fraud exceeding $100 billion: https://www.cryptopolitan.com/5-banks-raided-french-authorities-100bn-fraud-investigation/ . Maybe we’re not through the banking crisis after all. One wonders what fines the banks would face in a fraud of this size.
WSJ: E&Y split heads toward Silicon Valley showdown: https://www.wsj.com/articles/ey-breakup-plans-fate-may-rest-on-executive-showdown-this-week-eab06d3 . Everyone wants a guaranteed piece of the pot, and everyone is concerned the pot will grow smaller. Those two ideas don’t fit together well.
At least 38 dead in migrant detention center fire at the border: https://apnews.com/article/mexico-fire-migrant-facility-dead-eea0b6efafd77f9868ef27ed1cf572b3 . WSJ: More: https://www.wsj.com/articles/fire-at-mexican-migrant-detention-center-kills-dozens-5dec0d36 . An obvious causative factor in these deaths is the failure of the US to implement a rational immigration policy over recent decades.