COVID-19 mortality: Continuing US failure: https://www.npr.org/sections/health-shots/2020/10/13/923253681/americans-are-dying-in-the-pandemic-at-rates-far-higher-than-in-other-countries . This study looks at mortality rates per 100,000 since June 7. The idea is, how did developed nations do after their first wave? The short answer is that the US has 9 times the COVID-19 mortality rate of Italy in this period. Why? It’s our failure to effectively implement the principles of public health. In the US, that means failure to wear masks, socially distance, reduce interpersonal contacts, and adequately test.
COVID-19 mortality: “Living in a racist country ages people”: https://www.yahoo.com/now/cdc-black-latino-people-nearly-43-percent-covid19-deaths-180905023.html . Of the first 114,000 COVID-19 deaths, 78% were people over 65. Blacks and Latinos were overrepresented relative to their percentage of the population. This may be a result of lack of access to health care, as well as co-morbidities. However, the quotation shown makes a point worth considering. Constant daily stress does age people.
WSJ: Immune modulators studied as COVID-19 treatment: https://www.wsj.com/articles/nih-to-study-three-drugs-in-treatment-of-covid-19-patients-11602847801 . Here is additional information on CVC: https://news.abbvie.com/news/press-releases/members-covid-rd-alliance-and-quantum-leap-healthcare-collaborative-enroll-first-patients-in-i-spy-covid-trial.htm .
WSJ: CDC mass uprising against federal COVID-19 response: https://www.wsj.com/articles/more-than-1-000-current-and-former-cdc-officers-condemn-u-s-covid-19-response-11602884265 .
WHO-funded study shows hospitalized patients did not benefit from remdesivir: https://www.wsj.com/articles/who-backed-study-finds-no-remdesivir-benefit-for-hospitalized-covid-19-patients-11602885114 .
WSJ: Pfizer emergency use application could come in late November: https://www.wsj.com/articles/pfizer-could-apply-for-emergency-use-of-covid-19-vaccine-by-late-november-11602842906.
Almost all of Wisconsin is a hot spot: https://news.yahoo.com/almost-all-of-wisconsin-is-classified-as-a-covid-hotspot-194217233.html . Much of Wisconsin is rural, so hospital bed access will quickly become an issue. This is presumably why a field hospital has been opened at the State Fair Park west of Milwaukee.
WSJ: COVID-19 reappears on USS Theodore Roosevelt: https://www.wsj.com/articles/two-sailors-on-uss-theodore-roosevelt-test-positive-for-covid-19-11602901808 .
Multi-system inflammatory syndrome now appearing in adults (MIS-A): https://www.nbcnews.com/health/health-news/rare-covid-19-complication-was-reported-children-now-it-s-n1243161 . MIS-A appears to be a delayed response to COVID-19 infection. It is believed to be underreported. The long-term prognosis is currently unknown.
WSJ: A local solution to frequent testing: https://www.wsj.com/articles/how-a-pioneering-covid-testing-lab-helped-keep-northeast-colleges-open-11602849600 .
WSJ: Telemedicine in the COVID-19 era: https://www.wsj.com/articles/covid-19-patients-put-remote-care-to-the-test-11602840627 .
WSJ: Food trade in the COVID-19 era: https://www.wsj.com/articles/china-wants-to-screen-you-for-coronavirusand-your-frozen-fish-11602841654 . This issue, if there is one, seems limited to refrigerated goods. The most likely source would be the packaging surrounding frozen food rather than the food itself.
WSJ: The COVID-19 era long-term: https://www.wsj.com/articles/the-long-shadow-of-the-pandemic-2024-and-beyond-11602860214 . It’s useful to stand back and take a longer-term view once in a while. My view is that remote work will be permanent for many and will be transformative in accelerating the move to online shopping, the reduction in brick-and-mortar business presence, and the reinvention of city core areas. There may also be reverse migration to exurbs and rural areas, altering their Republican nature. By this I mean small towns are tribal, and the tribe may change.
Medicare to cut payments for slow COVID-19 test turnaround: https://www.usatoday.com/story/news/health/2020/10/16/covid-testing-medicare-cut-payments-labs-slow-turnaround/3677717001/ .
WSJ: Europe’s second wave creates staff shortages: https://www.wsj.com/articles/covid-rips-through-european-countries-spared-in-the-spring-straining-hospitals-11602865379 .
WSJ: Global round-up: https://www.wsj.com/articles/coronavirus-latest-updates-10-16-2020-11602835460 . US passes 8 million cases as daily cases exceed 60,000.
AP: US, global round-up: https://apnews.com/article/virus-outbreak-china-qingdao-fa5c9eb4d0ebdd269502980bdd4c8566 . New Mexico sets another daily record in new COVID-19 cases.
WSJ: New Jersey Veterans Affairs officials replaced over nursing home deaths: https://www.wsj.com/articles/new-jersey-governor-replaces-officials-who-supervised-homes-where-nearly-200-died-of-covid-19-11602874912 .
WSJ: Savings outflow: https://www.wsj.com/articles/pandemic-aid-swelled-savings-of-the-unemployed-study-shows-now-they-are-running-low-11602846000 . This article quantifies to some extent the obvious consequences of failing to pass additional relief aid.
WSJ: US government outflow: https://www.wsj.com/articles/u-s-budget-gap-tripled-to-record-3-1-trillion-in-fiscal-year-2020-treasury-says-11602871210 .
WSJ: Prime Day juices online shopping: https://www.wsj.com/articles/amazons-prime-day-accelerates-shift-to-online-shopping-11602846014 . Prime Day was apparently moved because of the strains on Amazon in the early stages of the pandemic. Its timing during the prolonged pandemic will have a significant effect on holiday and online sales for years to come. Perhaps there will be a spring and fall Prime day in future years.
WSJ: US retail sales rise: https://www.wsj.com/articles/us-economy-september-retail-sales-coronavirus-recovery-11602786924 .
WSJ: Tech companies represent record percentage of US stock value: https://www.wsj.com/articles/techs-influence-over-markets-eclipses-dot-com-bubble-peak-11602894413 .
WSJ: Fear of flying: https://www.wsj.com/articles/airlines-plan-for-prolonged-coronavirus-travel-drought-11602848431 .
WSJ: Whither 737 MAX?: https://www.wsj.com/articles/boeing-shares-rise-on-737-max-optimism-11602862768 . Some day it will fly … some day.
WSJ: US tax policy: https://www.wsj.com/articles/cfos-weigh-impact-of-higher-taxes-on-balance-sheet-ahead-of-election-11602840600 . As a fiscal conservative, my view is that long-term the federal government does need to pay for its spending. However, as noted in previous newsletters, this is not so obvious when the government can print money. Our currency trades at a premium because it remains the global standard. Still, at some point taxes must go up to cover the spending surge of recent years.
WSJ: EY least expensive and possibly least careful: https://www.wsj.com/articles/string-of-firms-that-imploded-have-something-in-common-ernst-young-audited-them-11602863319 .
WSJ: Another angle on systemic racism: https://www.wsj.com/articles/treasury-department-encouraged-banks-to-prioritize-existing-customers-for-ppp-loans-democratic-report-says-11602861336 .
WSJ: Expatriation: https://www.wsj.com/articles/more-americans-are-renouncing-their-citizenship-11602840602 . The primary motivator seems to be tax avoidance for Americans living abroad.
WSJ: Trump immigration policy challenged in court: https://www.wsj.com/articles/trump-administration-overhaul-of-h-1b-visa-program-challenged-in-court-11602892079 .
WSJ: Penny stocks: https://www.wsj.com/articles/individual-investing-boom-fuels-trading-in-low-price-stocks-11602840602 . This is essentially gambling, not investing.
WSJ: Brexit puts UK credit at risk: https://www.wsj.com/articles/moodys-cuts-u-k-s-credit-rating-further-11602886728 .
WSJ: China’s full-court economic press on Australia: https://www.wsj.com/articles/chinas-economic-squeeze-on-australia-extends-to-cotton-11602839413 . Note that China is the major trading partner for two-thirds of the world’s economies. In other words, China has used manufacturing to dominate the supply of raw materials. They are now showing a willingness to exert this economic power.
WSJ: Chickens with all the fixin’s come home to roost: https://www.wsj.com/articles/j-fs-bribery-settlements-highlight-compliance-breakdowns-remediation-efforts-11602840600 . Note that Pilgrim’s is now controlled by Brazilian firm JBS. So meatpacking in this country is increasingly under the control of foreign entities (e.g., Smithfield’s is controlled by a Chinese firm).
WSJ: Relief aid needs pressure incumbents: https://www.wsj.com/articles/lack-of-coronavirus-stimulus-deal-puts-pressure-on-incumbents-11602847118 . But are Senate Republicans the new obstacle?: https://www.wsj.com/articles/gop-senators-brace-for-fight-with-trump-over-coronavirus-aid-11602881510 . The bill could pass with Democrats and at least 4 Republicans, if McConnell allows it to come to a vote.
Five-year-old saves arthritic lemur: https://apnews.com/article/arrests-san-francisco-theft-962bb0064c2129c8da75cf4f5780b11b . Another group of words that previously were unimaginable in the same sentence.
WSJ: Fundraging: https://www.wsj.com/articles/democrats-tap-fundraging-to-garner-hundreds-of-millions-for-campaigns-11602840602 . This situation also paves the way for a re-examination of Citizens United and public funding of campaigns. Past some point, money is not speech. It is purchase.
WSJ: The relationship between political and charitable giving: https://www.wsj.com/articles/the-surprising-similarity-between-charitable-and-political-giving-11602854799 .
WSJ: The turnout election: https://www.wsj.com/articles/inside-the-counties-that-will-help-decide-election-2020-11602250797 . When there are few undecideds, it’s all about turnout. So looking at counties is not necessarily the right focal point.
Voter suppression: https://www.theguardian.com/commentisfree/2020/oct/15/ohio-us-election-voter-suppression . This comment contains an excellent description of Baker v. Carr. American democracy has one central founding principle: “All men are created equal”. This was Lincoln’s view, as expressed in the Gettysburg Address. A second fundamental principle is “one person, one vote”. Voter suppression is an offense of the highest order.
WSJ: Third party candidates in Senate races: https://www.wsj.com/articles/third-party-candidates-could-play-spoiler-in-tight-senate-races-11602840600 . This articles scratches at the question of alternate voting systems. The short answer is, no voting system is perfect. A more important question is how the parties might realign after this election should there be a Democratic wave. Will there ever be a credible third party in the US? (There have been in the past.) WSJ: More: https://www.wsj.com/articles/the-logic-of-counting-votes-11602854900 .
WSJ: Update on early voting: https://www.wsj.com/articles/mail-balloting-is-fueling-historic-early-voting-in-the-2020-election-11602591220 . Over 22 million votes have been cast with 17.2 million mailed and 4.9 in person.
Trump: “Maybe I’ll have to leave the country”: https://thehill.com/homenews/campaign/521513-trump-on-if-biden-wins-maybe-ill-have-to-leave-the-country . It’s not a joke. Once Trump is out of office, he can be indicted. Besides a raft of potential federal charges, Trump is liable for state tax evasion (according to Michael Cohen). And the president’s pardon powers do not extend to state crimes.
WSJ: Postal police pulled: https://www.wsj.com/articles/u-s-postal-service-benches-its-police-officers-before-election-11602862096 . Are more shenanigans on the way? A logical reason for this timing is not obvious.
WSJ: Tab pulled: https://www.wsj.com/articles/tab-coca-colas-diet-soda-pioneer-and-a-70s-icon-is-going-away-11602847800 . COVID-19 affects everything.
A WSJ puzzle for readers: https://www.wsj.com/articles/editor-in-chief-kristina-oneill-on-the-october-issue-of-wsj-magazine-11602846872 . This item caught my eye. It will likely appear in the October WSJ magazine, which will likely come out Saturday (tomorrow as I write). More interestingly, it leads with a piece on southern Italy, which appeared here on October 7. Wondering how that’s possible?
Here’s a hint: If you compare the (digital) hard copy of WSJ, which appears in our email at 1 am, to this newsletter, which appears around 1:02 am, you’ll find the stories relevant to COVID-19 are the same.