FDA adjusts rare illness drug approval: WSJ: https://www.wsj.com/articles/fda-widens-path-for-rare-disease-treatments-with-new-approval-1ba99c09 . Given the data limitations, this revision is warranted.
WSJ: FDA working to prevent another baby formula fiasco: https://www.wsj.com/articles/repeat-of-baby-formula-shortage-still-possible-under-revamped-fda-3de4988c .
WSJ: Hey, Pimco doesn’t understand bonds either: https://www.wsj.com/articles/pimco-is-saddled-with-a-1-7-billion-default-in-office-market-meltdown-79dcb6fc . Seriously, how can you be this stupid? Financing a huge acquisition with floating rates at a time of historically low interest rates is just stupid, as the company is finding out.
Turkey Syria earthquake death toll passes 50,000: https://news.yahoo.com/earthquake-death-toll-surpasses-50-194110067.html?fr=sycsrp_catchall . Reporting has slowed. We do know that the most recent earthquakes in this area have had very limited death tolls, although more buildings have collapsed. WSJ: Here’s why the death toll is understated: https://www.wsj.com/articles/after-turkey-earthquakes-families-grieve-missing-loved-ones-who-might-never-be-found-f37a1d65 . New earthquake hits southern Turkey: https://apnews.com/article/2023-turkey-syria-earthquake-building-collapses-business-59f11ac237f5697eeef38fe828655015 .
China’s factory activity sees fastest growth in a decade: https://money.usnews.com/investing/news/articles/2023-02-28/china-feb-manufacturing-activity-expands-fastest-since-april-2012-official-pmi . This data point does not fit with other recent economic reporting from China. We’ll keep watching.
WSJ: India’s economy slows: https://www.wsj.com/articles/indias-economic-growth-slows-amid-low-consumer-demand-high-inflation-8310e9ea . Note that consumer thriftiness is slowing the economy. This is an even bigger issue in China, as we have been reporting.
Ukrainian drones fly deep into Russian territory: https://apnews.com/article/russia-ukraine-war-attacks-drones-e02372ef4b84fc3b4cf6afe8ed141a77 . They should be doing this in Crimea … WSJ: Ukraine’s situation in Bakhmut deteriorates: https://www.wsj.com/articles/ukraines-forces-endure-increasingly-dire-conditions-in-bakhmut-officials-say-3028911 .
Chicago mayor ousted as opponents head to runoff: https://apnews.com/article/chicago-mayor-election-2023-73b7ffa6da2ad2f301674c5c23e08560 . This is a flashing red light to Democrats that crime in urban areas will be a major issue in 2024. WSJ: More: https://www.wsj.com/articles/chicagos-mayor-lori-lightfoot-fights-for-second-term-tuesday-ba91a243 .
WSJ: DeMentis attempts to move migrants’ lawsuit from Massachusetts to Florida: https://www.wsj.com/articles/ron-desantis-florida-officials-seek-to-dismiss-lawsuit-from-marthas-vineyard-migrants-313ef973 . Plaintiffs have the right to choose the forum. There’s no compelling reason to move the case, as well as compelling reasons to keep it where it is.
DeMentis falls behind Orange Julius in latest poll: https://news.yahoo.com/2024-poll-desantis-slides-as-trump-surges-to-1st-head-to-head-lead-in-months-202853979.html . At the moment this poll looks like an outlier. Also, no poll seems to measure how much the people who dislike Orange Julius really, really dislike him. OJ is an enormous motivator for Democratic voters, as the 2020 and 2022 elections showed. Also, I continue to predict that there will be federal indictments of OJ by the Fourth of July.
OJ “lashes out” over Murdoch Dominion deposition: https://www.bbc.com/news/world-us-canada-64806437 . The BBC reporting here fails its usual high standards. The comment that “Fox has argued … it was only reporting on the then-president’s allegations, not supporting them” has been swept away. Murdoch testified that the Fox hosts “endorsed” the fraudulent election claims.
WSJ: Iran nears nuclear bomb production: https://www.wsj.com/articles/u-n-agency-confirms-iran-produced-enriched-uranium-close-to-weapons-grade-7ccd4069 . Swell. So what dimwit pulled us out of the negotiated nuclear deal with Iran? Oh, right …
There is a new, very far right government in Israel. I don’t like to think about what may happen next …
GOP culture clowns: Tennessee governor about to ban drag appearances, despite his own past behavior: https://www.nbcnews.com/nbc-out/out-politics-and-policy/tennessee-governor-appears-dressed-drag-art-form-wants-restrict-rcna72569 . The governor complains that this is an unfair comparison. Why? He says the bill focuses on sexualized entertainment in front of children, but the bill bans any public drag performance “appealing to a prurient interest”.
That definition is notoriously hard to apply, resulting in Potter Stewart’s most famous comment as a justice, paraphrased as “I may not be able to define pornography, but I know it when I see it.”: https://www.mtsu.edu/first-amendment/article/1359/potter-stewart . I agree with critics who say this bill is more targeted to drag in general than to children. It’s just another ignorant volley fired by those who focus on re-election rather than governance – that is, today’s GOP.
WSJ: FTX co-founder pleads guilty, will become government’s witness: https://www.wsj.com/articles/ftx-co-founder-nishad-singh-pleads-guilty-to-fraud-charges-d9936c87 . Now that the little fish have flipped, the government will make an example of SBF.