Florida leads Medicaid disenrollment: https://apnews.com/article/medicaid-eligibility-states-coronavirus-pandemic-46484af651466539d6874c1a97397b50 . So far, states have disenrolled about 1.5 million. Florida has disenrolled several hundred thousand people, by far the most of any state. DeMentis’ war on the poor continues. They’re easier to beat up on than Mickey Mouse.
WSJ: Alzheimer’s drug slow rollout: https://www.wsj.com/articles/alzheimers-blockbuster-is-coming-but-slowly-504f724a . Sadly, these drugs are very expensive but not yet highly effective. The focus on mortality is a way of characterizing the number of cases, however it is more helpful to think of this condition as a slow death.
Ongoing US drug shortages trace to India: WSJ: https://www.wsj.com/articles/drug-shortages-stem-from-quality-problems-in-indian-factories-20accc00 . At some point we will need to onshore more drug manufacturing. This is literally a matter of life and death.
WSJ: GOP seizes on stopping gender-affirming care: https://www.wsj.com/articles/u-s-becomes-transgender-care-outlier-as-more-in-europe-urge-caution-6c70b5e0 . If gender-affirming care was inappropriate, we would see significant numbers of reversals of these procedures. We don’t. Isn’t the logical conclusion that such care is needed? Whoops, trying to be logical with GOP policy … silly me.
China’s economic recovery stalls: https://www.msn.com/en-us/money/markets/china-s-economic-rebound-hits-a-wall-with-no-quick-fix-to-revive-it/ar-AA1cKPnb?ocid=hpmsn&cvid=864e8f498f9b4d72be0b7fd441a05f54&ei=18 . The New York Times fortifies the other reporting we’ve seen over the last week that China faces serious economic weakening. This is a part of why China has stopped supplying useful COVID data.
WSJ: US-China diplomatic relations resume: https://www.wsj.com/articles/xi-jinping-to-meet-blinken-monday-as-u-s-china-resume-high-level-engagement-c898f541 . That the US and China are speaking again at the highest levels is a very significant step forward.
Biden administration will host state visit by India’s prime minister: https://apnews.com/article/biden-modi-india-state-visit-russia-human-rights-a67663a7259c819415d0ff2f54a152b4 . There is no doubt that Biden is pivoting US attention toward Asia, and specifically containment of China. India is trying to sit in the middle of the ongoing “two axes” realignment of global alliances and supply chains. As India, the crown jewel of the British Empire, has English as an official language, it has significant advantages and interests in building its relationship with the US. Of the three countries, it is obvious the US will always have the largest number of Indian immigrants and their descendants, and the same is true for Chinese immigrants. WSJ: More: https://www.wsj.com/articles/indias-modi-sees-unprecedented-trust-with-u-s-touts-new-delhis-leadership-role-35e151b4 .
Yuan slides as China cuts lending benchmarks: https://money.usnews.com/investing/news/articles/2023-06-19/dollar-buoyant-yuan-wobbles-after-china-cuts-lending-benchmarks . WSJ: More: https://www.wsj.com/articles/global-stocks-markets-dow-news-06-19-2023-4030223a . The markets are disappointed China did not make larger cuts to support its economy. Still more: https://www.wsj.com/articles/china-cuts-borrowing-rates-again-in-bid-to-juice-recovery-466b1d90 .
WSJ: Why is inflation sticky?: https://www.wsj.com/articles/why-inflation-around-the-world-just-wont-go-away-94552e39 . The Journal provides considerable factual statements in this article. But the writers seem to lack any useful knowledge of economics. As we have said repeatedly, historically the average length of time of an inflation wave is 5 years, because inflation by its nature is sticky. The focus of policy must be to lower inflation as quickly as possible, to avoid it becoming a structural expectation. And typically economies must take some sort of recession to accomplish that goal. As unemployment has not risen, interest rates must keep rising. This is not hard.
WSJ: Former owner to buy SVB Securities out of bankruptcy: https://www.wsj.com/articles/svb-securities-to-be-acquired-in-management-buyout-dc9ec4ca . Meanwhile, SVB customers who lost deposits remain liable for loans: https://www.wsj.com/articles/svb-customers-who-lost-their-deposits-remain-on-the-hook-for-loans-5df7963b .
Titanic-bound submersible missing: https://apnews.com/article/titanic-shipwreck-titan-submersible-search-deepsea-atlantic-a89dbd2f6d3edd7e4a52566e451a5e6d . Considerable resources are being thrown at this search, as the submersible has a 96-hour oxygen supply, which is expected to run out Wednesday. WSJ: More: https://www.wsj.com/articles/u-s-coast-guard-searches-for-tourist-submersible-visiting-the-titanic-shipwreck-7aa0c773 .
Analysis concludes Russia likely blew up Kakhovka Dam: https://www.aol.com/evidence-growing-russia-blew-kakhovka-200652736.html . There is no logical reason why Ukraine would blow up its own infrastructure or reduce its options in the current offensive. It is also unlikely that this large dam failed on its own. WSJ: UN says Russia blocking humanitarian aid: https://www.wsj.com/articles/u-n-says-russia-is-blocking-aid-to-flooded-areas-in-ukraine-e3b5a682 .
Orange Julius’ insanity deepens: https://www.mediaite.com/news/trump-claims-the-only-way-the-national-archives-could-get-classified-docs-back-was-to-ask-please-please-please/ . What planet is OJ on? The National Archives did ask, many times. Then they subpoenaed the documents. The FBI finally raided Mar-a-Lago. And OJ’s defense is, he had to get his clothing out of the boxes. For over a year … How can this possibly make sense to anyone? More: https://www.mediaite.com/tv/bret-baier-confronts-trump-about-purported-audio-of-him-admitting-he-took-classified-material-why-have-it/ . Still more: CNN: https://www.cnn.com/2023/06/20/politics/trump-indictment-cabinet-secretaries-what-matters/index.html . Dizzying? No, completely nuts …
The problems of trying a classified documents case: https://www.politico.com/news/2023/06/14/trump-trial-classified-documents-public-00102023 . Note that Orange Julius kept about 300 documents, but only 31 are charged. This makes it virtually certain that Jack Smith’s team chose the 10% of the total documents that are most amenable to this specialized discovery process. In other words, DOJ has already done the things it thinks will expedite the trial.
Orange Julius kept a document the president does not have the power to declassify: https://www.aol.com/news/trump-lacked-power-declassify-secret-100929783.html . Of course there are a number of fatal flaws in OJ’s defense, but this is a big one. The article notes that nuclear secrets are classified by law, and declassification requires the input of DOE and DOD. More: https://2paragraphs.com/2023/06/trump-case-rocked-by-super-sensitive-nuclear-weapons-document/ .
Magistrate restricts OJ access to government’s documents evidence: https://www.nbcnews.com/politics/donald-trump/judge-bars-trump-disclosing-evidence-documents-case-rcna90016 . The sides agreed to this order prior to its filing.
Bias of Aileen Cannon called out: https://abcnews.go.com/Politics/whitehouse-unclear-trump-appointed-judge-overseeing-federal-case/story?id=100165584 . Democrats struggle to call out the lunacy of the OJ era, but Whitehouse does a pretty good job here. However, I don’t share his optimism about Judge Cannon. Her first round of rulings in this case were nuts, as everyone including the 11th Circuit has pointed out. On a positive note, she graduated from a top law school, the University of Michigan. But in many ways, that makes her earlier rulings even more baffling. And she should have stepped down in this round, having received a knockout punch previously. We will see.
Rome opens temple complex where Julius Caesar was assassinated: https://apnews.com/article/rome-ancient-temples-julius-caesar-726e7c504f4a173dbe6ba322fbfabc18 . So today, Orange Julius’ namesake made the news.
Speaking of insanity, Josh “You must be Joshing” Hawley: https://www.huffpost.com/entry/josh-hawley-christians-slavery_n_6490fd94e4b048eb91179b17 . On Juneteenth? How did the country get so much ignorant white trash in the US Congress? It is not a pretty picture for democracy.