COVID relief fraud targeted: https://www.nbcnews.com/politics/white-house/white-house-pitches-16-billion-plan-targeting-covid-relief-fraud-rcna73013 . This proposal has the twin advantages of punishing the morally despicable and raising funds for the government.
WSJ: Insurers struggle with HHS over Medicare Advantage reimbursements: https://www.wsj.com/articles/health-insurers-square-off-with-biden-administration-over-medicare-payments-8376696c . As readers know, I am not a fan of Medicare Advantage. The government’s proposal here would not be necessary if our healthcare system had transparent pricing. The “problem” with transparent pricing is that it exposes all the middlemen taking money for things not related to the actual delivery of healthcare. And that’s why there is so much resistance to transparent pricing.
WSJ: Tennessee bans transgender healthcare for minors: https://www.wsj.com/articles/tennessee-governor-signs-bill-restricting-transgender-healthcare-for-minors-9e178c33 . More offensive nonsense emitted by the state that gave us the Scopes “monkey” trial.
PFAS in drinking water: https://apnews.com/article/pfas-epa-water-regulations-d2d5052c36a5a95f4e56866f028c9c4f . This stuff is a major health risk. A few months ago, I stopped drinking La Croix beverages after reports they contain trace amounts of PFAS. We do need to keep these chemicals out of things people consume.
The future of Fed rate hikes: https://www.msn.com/en-us/money/markets/the-fed-is-trapped-in-a-deep-hole-and-will-lose-more-credibility-on-inflation-no-matter-what-it-does-next-mohamed-el-erian-says/ar-AA18913A?ocid=hpmsn&cvid=23c83f1f0f5e41fbac0db833eb1b3f3a&ei=26 . Mr. El-Erian, who is a respected expert, misses the point. Simply put, two 25’s add up to 50. The Fed downshifted on the hope that inflation data (which we all know lags Fed actions) will continue to come down, thus enabling a soft landing. While this is an unlikely outcome in my view, the Fed strategy is clear. They feel the previous increases are a significant shock to the economy (true), and that 25 basis point increase allow them sufficient control to wait and see (maybe).
If there is a hard landing or recession, the Fed can argue that they tried for a soft landing. With 50 bp increases, they can’t do that. WSJ: More: https://www.wsj.com/articles/fed-official-says-hotter-data-will-warrant-higher-rates-a0162583 . It’s completely appropriate to make this process data driven. As noted above, the Fed acted on “hope”. Data is better.
WSJ: Weekly jobless claims tick down again, to 190,000: https://www.wsj.com/articles/u-s-jobless-claims-ticked-down-last-week-a3655941 . As readers know, this encourages to Feds to raise rates further.
Are Western sanctions against Russia working?: https://news.yahoo.com/is-the-economic-war-against-putin-working-213634805.html . Yes, of course. Russia is an international pariah and well on its way to becoming a client state of China. Things may seem normal in St. Petersburg, but that does not apply to those who know conscripts killed in Ukraine or the 300,000 Russian men who fled the country after the last conscription.
The war will be decided on the battlefield, but soon-to-arrive Leopard tanks and US satellite intelligence are huge advantages for the Ukrainians. The West is unwilling to let Ukraine lose this war.
WSJ: US arms to Ukraine: https://www.wsj.com/articles/how-u-s-weapons-play-a-growing-role-in-the-ukraine-war-8ee548ef . More: US base in Germany hosts Ukrainian war games: https://www.wsj.com/articles/ukraine-military-holds-simulated-war-exercises-on-u-s-base-de8e708f .
WSJ: US approves major arms sale to Taiwan: https://www.wsj.com/articles/u-s-approves-potential-taiwan-arms-sale-worth-619-million-6e97a909 . The world arms up in response to the “two axes” struggle.
Will the Biden student loan relief fail at the Supreme Court?: https://www.cnbc.com/2023/03/01/supreme-court-biden-loan-forgiveness-plan-chances.html . This case involves the clash of two important themes. The Supreme Court has been advancing a new line of legal “reasoning”, the “major questions” theory, which they will use to strike down executive actions as more properly belonging with Congress. It is a way of deciding cases without deciding the result. On the other side, “standing” is a longstanding legal principle where a case is booted because the plaintiffs do not have appropriate involvement in the issue to bring the case. The Court regularly uses this principle to avoid deciding cases and to limit who can bring lawsuits.
I didn’t listen to the entire argument, so it is interesting that these “experts” feel the standing issue was well-argued. But everyone knew these two issues going in, and Chief Justice Roberts specifically asked about this matter falling within the “major questions” doctrine. As the Court has 6 conservatives, I would still bet against the Biden policy. The major issue not discussed is that striking down this program will be exceedingly unpopular with students and those holding debt. After striking down Roe in Dobbs, the Court is losing public respect. That is the best “argument” for punting this case based on standing.
UPDATE: More expert opinion: https://news.yahoo.com/heres-what-the-supreme-court-could-rule-on-the-legality-of-bidens-student-debt-forgiveness-plan-235041959.html . These comments are more incisive than the article above. This author believes most of the challengers will be tossed on standing, but the state tax case may survive in order to extend the “major questions” theory. Prelogar is being praised here not for her “standing” argument, but for showing that this executive action was a natural extension of the effects of the pandemic. However, this doesn’t change my opinion concerning the outcome expressed above.
Biden nicely crushes Marjorie Taylor Greene: https://thehill.com/homenews/house/3880342-biden-mocks-rep-marjorie-taylor-greene-isnt-she-amazing/ . The president found a straightforward way to hammer this fool – she’s consistently wrong on basic facts. Here, she called a news conference to criticize Biden for something that happened during the reign of Orange Julius. Biden has provided a very fair path for Democrats to undermine the GOP’s hate speech and actions. This reflects leadership by strong example.
GOP gives Biden another opportunity to call out their silliness: https://news.yahoo.com/congress-sends-biden-a-measure-to-stop-woke-401ks-220321656.html . The problem with this bill is that ESG investing is not mandatory. It is one of multiple options under a 401(k) plan if the company chooses to include it. Some studies have shown that ESG investing outperforms the market. Why shouldn’t employers and employees have this option? Also, Vivek Ramaswamy is going nowhere. Even if he makes the debate stage and proves to be a brilliant debater, he will never get out of single digits with the GOP base.
Meanwhile, OJ’s “defense” of Social Security is a lie: https://www.msnbc.com/opinion/msnbc-opinion/trump-lying-medicare-social-security-cuts-rcna72884 . We all know this, but it is helpful to document why it is a lie. More: https://www.19fortyfive.com/2023/03/two-words-donald-trump-hopes-will-get-him-back-into-the-white-house/ .
OJ’s legal troubles mount as DOJ says police, others can sue him civilly over January 6 riots: https://www.nbcnews.com/politics/donald-trump/doj-says-trump-can-sued-police-jan-6-rcna73127 . This seems like an easy legal case to make; just play the videos of his speech and January 6. Incitement could hardly be clearer. The liability here is enough to bankrupt him, whatever he claims to be worth. WSJ: More: https://www.wsj.com/articles/trump-can-be-sued-over-role-in-jan-6-attack-justice-department-says-b9f5a58c .
WSJ: Santos ethics probe approved: https://www.wsj.com/articles/rep-george-santos-faces-house-ethics-committee-probe-2fb843c6 . How long will the Republicans draw this out? This situation is a national and international embarrassment.
WSJ: We begin to deal with the crimes in our family: https://www.wsj.com/articles/fox-news-defamation-case-tests-reach-of-press-protections-7a97d094 . The Journal slithers all around the knowingly false statements made for months on end on Fox Not-the-News. It’s not possible to report fairly if you are owned by the defendant, especially when the defendant has a long-time reckless disregard of the truth. These bastards need to go down in flames, and that most certainly includes the Journal’s Editorial Board.
Alex Murdaugh found guilty of murdering his wife and son: https://abcnews.go.com/US/jury-reaches-verdict-alex-murdaugh-double-murder-trial/story?id=97559257 . Mr. Murdaugh’s many crimes have now caught up with him. WSJ: More: https://www.wsj.com/articles/alex-murdaugh-guilty-double-murder-trial-cc144837 .
Pennsylvania man with explosives in packed suitcase denied bail: https://apnews.com/article/pennsylvania-airport-explosive-arrest-detention-0d2df43cc953f4883e44fb834bedb7b9 . We wondered about his motive yesterday. His defense appears to be “dumb as dirt”. However, packing explosives in checked luggage is extraordinarily dangerous, and as he fled the airport, it is no surprise the judge denied bail.
NLRB administrative law judge hammers Starbucks, orders 7 union activists reinstated with back pay: https://www.aol.com/finance/starbucks-violated-labor-laws-egregious-151025250.html . When any judge uses the term “egregious”, you are in big trouble. Also, requiring the order to be read to all Starbucks employees by the CEO puts major juice in the union movement in this company.
PGA introduces smaller events with no-cut field: https://sports.yahoo.com/pga-tour-announces-smaller-field-no-cut-designated-events-for-2024-season-204845096.html . It is certainly very hard to qualify for a Tour card. This creates a two-tier system within the Tour, and gives the stars an inside track to the FedEx bonanza. In my view the criticism is justified.