China’s unbelievable COVID data: https://www.scmp.com/news/china/science/article/3223773/latest-covid-19-outbreak-has-peaked-164-deaths-china-cdc-says . China has been going through a COVID wave believed to have peaked around 65 million cases per week. More recently, another projection suggested the wave was at one-fifth of that level, with the peak at 11 million cases per week. Regardless of which projection is more accurate, does anyone seriously believe the total number of COVID deaths in a COVID wave with 100 million or more cases is 164?
The Chinese remain an international joke as far as helping the international community with this deadly pandemic, which by the way started in China. More: https://www.usnews.com/news/health-news/articles/2023-06-12/chinas-latest-covid-19-surge-shows-signs-of-slowing-government-data . What the writer indirectly suggests should be said out loud: Garbage in, garbage out.
WSJ: Cancer patients now have to travel for their medication: https://www.wsj.com/articles/some-cancer-patients-must-travel-hundreds-of-miles-for-medication-adbc3248 . Why would anyone except the patient want cancer drugs? This rule makes no sense.
Exercise for longevity: WSJ: https://www.wsj.com/articles/fight-aging-science-research-146aa2cd . This makes complete sense to me. Just be sure to choose an exercise you like.
WSJ: Forget economics, we’re just lobbying the Fed not to raise rates: https://www.wsj.com/articles/fed-jerome-powell-big-problem-more-complicated-ba27ece4 . Did the writer forget everything that’s gone on in the last year? SVB simply did not understand the risks associated with long-term interest rates. Other banks have taken losses on their long-term bonds, to be sure, but hopefully not at the mindless level of SVB. The risk to banks’ stability is not interest rates – it’s the threat that the Fed will raise capital requirements by 20%.
Many experts currently believe the Fed won’t raise rates in June – essentially out of timidity and just hoping the data will get noticeably better next month. They also believe, as I do , that this course will end up forcing the Fed to raise rates next month. I agree with the comments attributed to Loretta Mester in this article – the Fed should keep raising rates until the odds of a rate increase at the next meeting are 50-50. We are not there yet.
WSJ: US to rejoin UNESCO: https://www.wsj.com/articles/u-s-moves-to-rejoin-unesco-to-counter-chinas-growing-sway-344eeb94 .
WSJ: Ukraine making small advances in retaking territory: https://www.wsj.com/articles/ukraine-strikes-russian-logistics-recaptures-village-7ea8ca19 . Ukraine battlefield support operations: https://www.wsj.com/articles/ukraines-offensive-relies-on-army-gear-that-doesnt-shoot-64372f36 . When the US and its NATO allies talk about the conversion of Ukraine’s army to a modern fighting force, this is a major part of that conversion.
Ron DeMentis called out at Tonys: https://www.newsweek.com/ron-desantis-florida-tony-awards-broadway-denee-benton-1805883 . Many assume Orange Julius is unelectable and now start training their fire on DeMentis. However, in terms of the GOP nomination, 80% of GOP voters say it’s okay for OJ to serve as president again even if he is convicted. Neither of these autocrats belongs in government.
Florida judge over OJ prosecution should recuse herself: https://news.yahoo.com/calls-grow-for-judge-aileen-cannon-to-recuse-herself-in-trump-documents-case-195348307.html . The comments come from a very senior bipartisan group of lawyers, and they are absolutely right. The test is properly stated, and she is disqualified by it. DOJ may be waiting for her to make a mistake before she steps aside, but that would be a mistake. Many lawyers of all stripes believe OJ’s handling of and refusal to return top secret documents here involves obstruction of justice over vital national security concerns, and OJ should do significant prison time.
This gal could mind her P’s and Q’s for a while, and then give OJ a ridiculously light or suspended sentence. We just can’t risk the country over this type of malfeasance (OJ’s or hers). More: https://news.yahoo.com/why-controversial-judge-aileen-cannon-225800656.html . The point is that she should step down on her own. Prior precedent is not indicative of what will happen here; it’s the out-of-bounds nature of her prior rulings that in my view make it likely that the 10th Circuit will indeed remove her if asked. In any event, DOJ should try.
WSJ: JPMorgan pays $290 million to settle Epstein lawsuits: https://www.wsj.com/articles/jpmorgan-chase-agrees-to-settle-jeffrey-epstein-accusers-suit-9dbbabff . It would be useful to hear more details about why this bank decided to pay a 9-figure settlement over its ties to Epstein. There has to be much more than “Epstein was a client”. Here is the Journal’s reporting on those deeper ties: https://www.wsj.com/articles/jpmorgan-jeffrey-epstein-525febe3 .
WSJ: We still think OJ can win: https://www.wsj.com/articles/trump-needs-white-suburban-women-his-indictment-splits-them-1a0a9e81 . Sigh. The first issue is whether Orange Julius can win the GOP nomination. As reported yesterday, there is growing evidence OJ will win the nomination even if he is convicted. This in my view is completely insane behavior from the GOP base, but that’s where we are. The first GOP presidential debate is August 23, and OJ may not even attend. If his challengers fail to make a strong case against OJ at that debate and actually move the needle, the nomination campaign will be essentially over.
From there, turnout will decide the general election. The number of people motivated to vote against OJ is growing faster than the group motivated to vote for him. As long as Biden’s health holds, he will win by an even larger margin than 2020.
WSJ: Mom of 6-year-old shooter pleads guilty to federal gun charges: https://www.wsj.com/articles/mother-of-6-year-old-who-allegedly-shot-his-teacher-pleads-guilty-to-federal-gun-charges-d548219a . Responsibility for this tragedy has landed where it belongs.
Illumina CEO out as government looks to unwind Grail acquisition: WSJ: https://www.wsj.com/articles/after-illumina-ceos-fall-other-executives-are-expected-to-take-hard-look-at-deals-c95c9e8 . This article troubles me because it ignores a major problem with Grail reported here 9 days ago. Peter Loftus wrote both articles. Why did he not mention the prior mess?
WSJ: Pat Sajak to retire from Wheel of Fortune: https://www.wsj.com/articles/pat-sajak-to-retire-as-wheel-of-fortune-host-next-year-d9b17b34 . So what happens to Vanna? (Vanna is 66.) Pat earns $14 million per season. Vanna earns $10 million.
Silvio Berlusconi passes at 86: https://www.npr.org/2023/06/12/1168143250/silvio-berlusconi-obituary . So what are the differences between Berlusconi and Orange Julius? Many of their scandals are the same. However, Berlusconi was better-educated, brighter, a self-made billionaire rather than an inheritor, and elected to office multiple times. One grieves at the current state of American democracy. However, as much as the two-party system has serious faults, it has to some extent protected us from cults of personality. WSJ: More: https://www.wsj.com/articles/silvio-berlusconi-media-magnate-who-dominated-italian-politics-for-years-dies-at-86-98c096be .