Children’s COVID academic setbacks: https://apnews.com/article/science-health-government-and-politics-covid-education-39e01a570b560c685b5340078c8dcdee . Has the US Department of Education developed a plan for this school year to reverse these setbacks?
Immunocompromised face increased COVID risk: https://www.nbcnews.com/health/health-news/omicron-subvariants-pose-new-threat-people-immune-deficiencies-rcna53422 . Certainly this is true in general. However, the latest Omicron subvariants are increasingly able to avoid COVID-fighting drugs. This takes away an important protection for the immunocompromised.
Biden takes next COVID booster Tuesday: https://www.usnews.com/news/top-news/articles/2022-10-23/biden-to-get-updated-covid-vaccine-urge-americans-to-follow-suit .
Experts believe China’s Party Congress has locked in Zero COVID for the foreseeable future: https://www.usnews.com/news/world/articles/2022-10-23/reaction-to-chinas-20th-communist-party-congress .This cannot be good for the Chinese economy. WSJ: More: https://www.wsj.com/articles/chinas-leaders-xi-jinping-and-his-men-11666538145 . Still more: https://www.wsj.com/articles/chinas-new-slate-of-top-leaders-stirs-concern-over-economy-11666539951 . Once again, the obvious escapes the Journal. The most important message from the new Politburo is that none of these people represent a viable successor to Xi. Power has been strongly consolidated in Xi. Saving face has become an even more entrenched policy.
WSJ: US supply chain control hampers Chinese chip development: https://www.wsj.com/articles/how-u-s-uses-supply-chain-sway-to-throttle-chinas-chip-development-11666526403 . Sigh. This is why I have advocated speeding up the TMSC manufacturing plant in the Midwest to take the pressure off China’s interest in seizing Taiwan.
Mosquitoes smell out their favorite human targets: https://apnews.com/article/why-some-people-get-more-mosquito-bites-a221709809aadd0b27a47c4a32c8921b . Apparently, some of us smell like the mosquito equivalent of prime rib. As mosquitoes transmit many diseases to humans, this can make your smell a health hazard. That is particularly bad news in Florida right now: https://www.nbcnews.com/science/environment/war-mosquitoes-florida-hurricane-ian-rcna52828 .
Boris Johnson drops out of UK race for Prime Minister: https://www.cnn.com/2022/10/24/uk/uk-new-prime-minister-political-crisis-intl-gbr/index.html . Halle-freaking-lujah! I have no idea how Rishi Sunak will perform as Prime Minster, but the world has had enough of Boris Johnson.
WSJ: Early US Q3 earnings reports worry investors: https://www.wsj.com/articles/early-earnings-reports-worry-investors-already-battered-by-stock-selloff-11666482044 .
Yen continues to weaken as BOJ intervention fails to take hold: https://money.usnews.com/investing/news/articles/2022-10-23/japans-yen-jumps-on-suspected-boj-intervention-fails-to-keep-gains .
Home prices continue to drop in China: https://money.usnews.com/investing/news/articles/2022-10-23/china-new-home-prices-fall-0-2-m-m-in-september . As we have warned for some time, restructuring of the Chinese property market will slow China’s economic growth.
Bond market instability likely to continue for at least 6 months: https://money.usnews.com/investing/news/articles/2022-10-23/sovereign-bond-market-turmoil-to-spill-well-into-next-year-reuters-poll . Again, global recession looks to be certainty.
Putin weaponizes drinking water in Ukraine: https://www.reuters.com/world/europe/how-water-has-been-weaponised-ukraine-2022-10-22/ . We presume no explanation is forthcoming on how brutalizing the population is associated with denazification.
WSJ: Ukraine works to restore electric grid: https://www.wsj.com/articles/ukraine-scrambles-to-restore-electricity-after-russian-missile-barrage-11666522193 . See comment in previous paragraph.
Meanwhile, Russia appears to move toward withdrawal from Kherson: https://www.msn.com/en-us/news/world/as-russia-and-ukraine-seek-gains-on-front-line-u-s-and-allies-warn-moscow/ar-AA13i6rx?cvid=4bcf163bb2d742249e2cd4c5059f672d . WSJ: We don’t understand Kherson: https://www.wsj.com/articles/a-challenge-for-ukraine-is-how-to-retake-kherson-without-destroying-it-11666534964 . Let me help you. Note the number of experts in the article who mention logistics. Ukraine has already demonstrated that it can take out the bridges across the Dnipro. If the Russians stay, the Ukrainians will simply continue to take out all the bridges and let the Russians starve and freeze until they surrender. The Russians will withdraw unless they are committed to sacrificing these troops. That’s a much bigger embarrassment than withdrawal.
WSJ: Putin fiddles as he burns Ukraine: https://www.wsj.com/articles/vladimir-putin-plays-for-time-as-russian-forces-fall-back-in-ukraine-11666485107 . Frankly, this reporting by the Journal is so logically inconsistent that one wonders if we are reading propaganda. How could the “Kremlin-controlled” state media “push” Putin to be more aggressive toward Ukraine? We have seen that people who push Putin end up defenestrated. Suggesting that Putin’s strategy is to hope Europeans will crack and force Ukraine to make a deal with Russia is equally bizarre. The West realizes that Russia is an anti-democratic actor, and Ukraine is their best current hope of defanging Putin.
We also know that many of the Russian oligarchs are appalled by the war crimes Putin is committing and the instability of their situation. Stating that Putin is secure in his leadership defies the reality on the ground.
WSJ: France struggling to restart nuclear reactors: https://www.wsj.com/articles/frances-nuclear-reactors-malfunction-as-energy-crisis-bites-11666517581 . One solution is to invite the Germans in to fix the plants. The national embarrassment might shock the French workers to their senses.
Nancy needles Orange Julius: https://www.aol.com/news/trump-not-man-enough-testify-174942482-182737707.html . This is the first time in history a woman has harpooned an orange whale …
WSJ: Orange Julius Organization tax fraud trial jury selection begins Monday: https://www.wsj.com/articles/trump-organization-tax-fraud-trial-set-to-begin-in-new-york-11666480661 . The Journal seems to downplay the main point of this litigation, which is that a criminal conviction here could significantly limit OJ, Inc., from a variety of business relationships. In particular, other reporting has been that a convection could prevent the company from doing business with the federal government.
Astros, Phillies to meet in World Series: https://sports.yahoo.com/mlb-playoffs-astros-yankees-alcs-game-4-lance-mccullers-jr-nestor-cortes-jr-aaron-judge-184947056.html . The Astros are now 7-0 in the playoffs this year. They now make their 4th trip to the World Series in 6 years.
(The Wall Street Journal site is having an unknown problem as of 2:30 am Monday morning Eastern time. The website recognizes me, but there is no navigation after entering. I will add appropriate links tomorrow after resolution of the access problem.) (UPDATE 10/24/22: the WSJ articles for 10/23 now appear in this newsletter, and I have developed a workaround while pursuing the source of the original problem with WSJ.)