CDC recommends Hepatitis B screening: WSJ : https://www.wsj.com/articles/hepatitis-b-screening-recommended-for-all-adults-2a374e22 . CDC estimates up to 2/3 of the up to 2.4 million people living with the disease don’t know they have it.
WSJ: Newly approved drugs’ sky-high prices: https://www.wsj.com/articles/new-drugs-are-coming-to-market-at-sky-high-prices-4736372e .
Medicare and Social Security costs come due: https://www.wsj.com/articles/bidens-budget-shows-the-rising-cost-of-leaving-medicare-and-social-security-untouched-396d8ad2 . Both trust funds approach bankruptcy, a slow-moving train we have seen coming for a long time. Sadly, this budget is more of a political statement than a plan for governance. More: https://www.wsj.com/articles/bidens-budget-would-cut-deficits-by-3-trillion-over-10-years-raise-taxes-on-businesses-b5081d03 .
WSJ: FDA mammogram breast density rule: https://www.wsj.com/articles/mammograms-must-include-breast-density-information-new-fda-rule-says-a1767006 .
California ends $54 million Walgreens contract over company abortion position: https://apnews.com/article/california-governor-newsom-walgreens-abortion-pill-080489daa45a981f2da140a2a56ee25b . Walgreens is blowing it here. Remember that they dropped providing abortion medication in 4 states where it’s still legal. Other groups have called for a boycott of Walgreens. At the least, Walgreens needs to fire the nitwit in the legal department who got them into this mess.
WSJ: US albuterol shortage: https://www.wsj.com/articles/albuterol-shortage-challenges-hospitals-treating-patients-with-breathing-problems-e4bae262 . While many people use albuterol inhalers, this problem relates to the liquid form used in hospitals.
WSJ: China sees weak domestic consumer demand: https://www.wsj.com/articles/chinas-inflation-rate-slows-to-one-year-low-casting-doubt-on-recovery-f178f1c8 . As readers know, I am skeptical of much of China’s data. The general reaction to China’s 5% growth goal was that it was “conservative” is relation to past goals. The more accurate description is “lower”. This article gives plenty of ammunition to the view that China’s 3% growth performance last year makes hitting 5% this year a stretch.
As predicted here some time ago, the Chinese savings rates last year suggested consumer demand would not return rapidly. So far, the evidence is bearing that out. Together with declining foreign demand (the advance of the “two axes” model), the Chinese economy looks to struggle at least for the first 6 months of this year.
Weekly jobless claims jump to 211,000: WSJ: https://www.wsj.com/articles/u-s-jobless-claims-jumped-more-than-10-last-week-9678416d .
WSJ: We refuse to understand the stock market: https://www.wsj.com/articles/markets-are-telling-investors-two-things-at-once-f883f897 . This guy’s got his finger on the pulse of the wrong arm. The stock market is overpriced by historical standards, as the author notes. But he ignores the fact that the market is fighting the Fed, which historically always ends badly. We know Fox lies about the news (see more below). Is this model overtaking the Journal’s financial coverage? If so, the Journal will rapidly become of no value to anyone (you know, like Fox).
WSJ: And we also don’t understand economics: https://www.wsj.com/articles/heres-why-the-economy-seems-weird-345bc327 . This article is worth reading because it will make you think about many important details. However, while taking a longer view is appropriate, the writer apparently doesn’t know history. For decades, most actuaries set long-term interest assumptions assuming long-term inflation at 2% and long-term bond rates at 5%. This reflected the underlying view that bonds should have a 3% real rate of return.
Seen from this perspective, the rapid rise in interest rates reflects abandonment of the easy money, ultra-low interest rates of recent years. If the rise to 5% pushes inflation to 2%, then fine, we are back in long-term historical balance. But if not (and inflation is historically sticky), the Fed will push rates above 5% because (as they’ve said) their primary focus is on driving inflation to 2%.
Ukraine hit by large Russian missile attack: https://www.cnn.com/2023/03/09/europe/ukraine-russia-missile-attack-kinzhal-intl/index.html . As the Ukrainians cannot shoot down the hypersonic missiles, fortunately Russia has a very limited supply. WSJ: More: https://www.wsj.com/articles/ukraine-hit-in-one-of-russias-biggest-missile-barrages-this-year-ae9d4b91 .
WSJ: Georgian people demonstrate for ties to the West: https://www.wsj.com/articles/georgia-pulls-russia-style-foreign-agents-bill-5fc00dff . The Journal’s reporting fails to note that EU representatives immediately commented favorably on the withdrawal of this bill (yes, it’s a Russian bill).
Dominion: Fox must tell its audience the truth: https://www.nbcnews.com/politics/donald-trump/dominion-fox-news-needs-retract-lies-2020-election-rcna74041 . The rubber finally meets the road. As Dominion notes, it is quite unusual for the libeled to repeatedly ask the offender to stop the libel. Here, the offender’s response is that the continued libel was a business decision. Dominion’s primary claim has been for monetary damages. Does the severity of Fox’s misbehavior merit injunctive action against Fox? (It should.)
Multiple Orange Julius cases near indictment: https://apnews.com/article/trump-stormy-indictment-jury-new-york-564e1947c822a32c3111f5e1c4146138 . Finally, charges are near. WSJ: More: https://www.wsj.com/articles/trump-invited-to-appear-before-new-york-grand-jury-in-hush-money-probe-185b68e5 .
WSJ: Special counsel wants judge to dismiss OJ’s attorney-client privilege claims: https://www.wsj.com/articles/special-counsel-set-to-ask-judge-to-reject-trumps-privilege-claims-in-mar-a-lago-probe-acf4946f . Again, the crime-fraud exception to this privilege is narrow, but the government appears to making good on its claim of obstruction of justice.
Norfolk Southern continues to go off the rails: https://www.nbcnews.com/politics/congress/congress-grill-norfolk-southern-ceo-ohio-rail-disaster-rcna73259 . Since they face a Federal charge of 3 times the cost of cleanup, you would think a CEO of even limited ability would be throwing resources at getting this disaster under control. Apparently Mr. Shaw can’t clear this very low bar. WSJ: More: https://www.wsj.com/articles/norfolk-southern-ceo-to-pledge-change-at-senate-hearing-on-ohio-train-derailment-32f0f514 .
WSJ: Alex Murdaugh files appeal of murder conviction: https://www.wsj.com/articles/alex-murdaugh-files-notice-of-appeal-after-being-convicted-of-murdering-wife-and-son-40f36ee0 . The appeal is based on the idea that evidence of all his other crimes is prejudicial to his guilt or innocence on the murder charge. The prosecution (in my view properly) argued these crimes were evidence of his motivation for the murders.
Mitch McConnell remains hospitalized for concussion after fall: https://www.bbc.com/news/world-us-canada-64898451 . WSJ: More: https://www.wsj.com/articles/mitch-mcconnell-hospitalized-after-tripping-at-hotel-dc1db408 .
Alex Jones’ bankruptcy filing demonstrates he’s insane: https://www.aol.com/news/alex-jones-trying-swing-bankruptcy-054658714.html . Oh, right, we already knew he was insane. As to paying the Sandy Hook families $7 to $10 million per year, the debt is $1.5 billion. At 5% interest, the interest alone is $75 million annually. The bankruptcy court needs to liquidate this despicable individual.
WSJ: Your chance to live in … Musk Town?: https://www.wsj.com/articles/elon-musk-texas-town-52386513 . So you want to live in rural Texas next to your job at a Musk company and work 100 hours a week? Hey, you might be stupid enough to work for Elon Musk … What’s there now, according to the pictures, is somewhere between industrial sheds and manufactured homes. Not exactly EPCOT …
WSJ: Chaim Topol, star of “Fiddler”, passes at 87: https://www.wsj.com/articles/chaim-topol-fiddler-on-the-roof-star-dies-at-87-18327d4c . It is rare that one actor is so immediately and intimately associated with one beloved role. Topol did so.
Robert Blake, star of “Our Gang”, “Baretta”, and his real-life trial for his wife’s murder, passes at 89: https://apnews.com/article/robert-blake-dies-ddf7a0c37dae4690ac82bf377e5aec70 . WSJ: More: https://www.wsj.com/articles/baretta-actor-robert-blake-dies-at-age-89-c7000708 .