FDA considers another COVID booster: https://www.usnews.com/news/health-news/articles/2023-03-21/report-fda-considers-authorizing-another-round-of-updated-covid-19-booster-shots-for-some . As we have said for some time, at the least FDA should authorize another, updated booster for the most vulnerable. Many studies have shown that immunity wanes in this population after 6 months, so an annual booster regimen is inadequate. WSJ: More: https://www.wsj.com/articles/fda-may-authorize-additional-covid-19-booster-shots-c85c0672 .
Zero COVID exit cost lives: https://apnews.com/article/zero-covid-exit-china-reopening-investigation-abridged-d7e7cf42b8f4b97e2744b640f431a7df . As readers know, we so far have no believable data from China on the actual death toll, which I believe to be at least 2.5 to 4 million. That is far higher than the estimates in this article. However, it is risky for people inside China to honestly comment on this matter. However, we now learn experts presented a careful reopening plan in March 2022 which Xi rejected after the Shanghai outbreak.
Chinese property company posts $67 million loss, citing recurring COVID outbreaks: https://www.scmp.com/business/article/3214171/sunac-services-posts-us671-million-loss-2022-cites-mounting-pressure-chinas-recurring-covid-19 . Again, it makes no sense that China had one COVID wave and is now done with COVID illnesses. This article refutes that thesis, and also shows the continuing real estate troubles in the Chinese economy.
Chinese data points to Wuhan market origin for human COVID outbreak: https://www.usnews.com/news/world/articles/2023-03-21/chinese-covid-data-from-animal-market-gives-clues-on-origins-report . This data was accidentally posted and then withdrawn, but was captured by international researchers during the brief post.
Mother’s right to life-saving abortion: https://www.msn.com/en-us/news/us/oklahoma-top-court-finds-right-to-abortion-to-preserve-mother-s-life/ar-AA18UFOs?ocid=hpmsn&cvid=b067a552182d49eab126c23c7874a9b7&ei=12 . The Supreme Court of Oklahoma (“The Mississippi of the Midwest”) strikes down limiting this right to “medical emergencies”, a piece of garbage passed by the legislature.
WSJ: Candida auris fungus infections spread: https://www.wsj.com/articles/deadly-fungus-detected-in-most-u-s-states-1eb3453a . Note the 60% mortality rate. Urgent work is needed on an effective antfungal.
First Republic sinks in after-hours trading: https://www.msn.com/en-us/money/companies/first-republic-stock-tumbles-after-hours-as-bank-reportedly-hires-more-advisers/ar-AA18UJua?ocid=hpmsn&cvid=3e719cde13c245baab992990c86ef790&ei=70 . We are not out of the woods on the bank crisis. Prior indications have been that there are no buyers for even a part of First Republic. A Credit Suisse style fire sale run by the Fed may be in order. I still expect the Fed to increase interest rates by 25 basis points on Wednesday. WSJ: More: https://www.wsj.com/articles/first-republic-taps-lazard-for-help-with-review-of-strategic-options-31271bd .
WSJ: Really, we have no idea about economics: https://www.wsj.com/articles/everything-bankers-thought-they-knew-about-deposits-might-be-wrong-b3845c19 . The Journal’s analysis continues to reach appalling lows. There is no excuse for a bank not to understand interest rate risk or liquidity risk. The ones that paid no attention are now no longer independent. Again, the Fed announced its plans to rapidly raise interest rates a year ago. Anyone with the most basic understanding of financial risk knows you get out of assets that are about to go down in value. That quite obviously was long-term bonds.
WSJ: What will the Fed do on interest rates on Wednesday?: https://www.wsj.com/articles/the-fed-flies-in-the-dark-30768449 . So no one knows “for sure”, but the Fed is going to raise by 25 basis points. To do otherwise indicates they didn’t understand the risk of raising rates, and we are at risk of systemic bank failure. This is not a hard call to make.
US will speed Abrams tanks to Ukraine: https://www.msn.com/en-us/news/world/u-s-will-speed-transfer-of-abrams-tanks-to-ukraine-pentagon-says/ar-AA18UVEm?ocid=hpmsn&cvid=375158c29dd34f7bbaf6afac17646d3d&ei=18 . “By the fall” is the military’s definition of speed. Let’s hope Germany’s Leopard tanks hold off the Russians until the Abrams arrive.
WSJ: Ukraine continues to struggle for Bakhmut: https://www.wsj.com/articles/ukraines-leadership-doubles-down-on-bakhmut-defense-as-russians-get-closer-960ae225 . The story continues to be slow Russian advance at enormous loss of personnel.
Russia, Ukraine offer different accounts of major explosion in Crimea: https://www.aol.com/news/ukraine-russia-trade-claims-blast-200611551.html . Reports of the size of the blast do suggest that explosives were detonated by the attack. In turn, this gives credence to Ukraine’s story of an attack on cruise missiles. It also discounts Russia’s story that this was an attack on a residential area.
WSJ: The Xi-Putin “Strategic Bromance”: https://www.wsj.com/articles/xi-and-putin-rekindle-strategic-bromance-in-russia-5f9f96dd . Sorry, Journal, but the White House has the more insightful phrase here: “A marriage of convenience”.
WSJ claims credit for breaking Stormy Daniels hush money case: https://www.wsj.com/articles/trumps-hush-money-a-history-of-the-wsjs-investigation-fccf8096 . Is this Fox’s left-handed defense of itself? Will there be a mea culpa for years of promoting OJ and his lies?
Orange Julius wants to be handcuffed for New York arraignment in Stormy Daniels case: https://www.theguardian.com/us-news/2023/mar/22/trump-wants-to-be-handcuffed-for-court-appearance-in-stormy-daniels-case-sources-say . Maybe Stormy can spank him with a rolled-up copy of TIME with his picture on the cover (again) (allegedly). However, prosecutor Alvin Bragg can reject all this nonsense, and he would be wise to do so. A perp walk creates considerable security risks for everyone involved. WSJ: More: https://www.wsj.com/articles/how-a-potential-indictment-and-arrest-of-donald-trump-could-unfold-456b06d5 . The person who wrote this was half-asleep during the assignment.
Special prosecutor claims OJ deliberately deceived his attorneys about classified documents: https://abcnews.go.com/US/sources-special-counsel-claims-trump-deliberately-misled-attorneys/story?id=98024191 . Clients do deceive their attorneys, without legal consequences. However, here the attorneys filed a false declaration with the court concerning the existence of further classified documents in OJ’s possession, which is a crime. As such, the government and the court have the right to find out the details of this fraud.
UPDATE: This article was updated after my initial comments above to clarify that the judge wrote about these claims in a sealed filing. Further, Judge Howell agreed with those claims and ordered OJ’s attorney to turn over a variety of documents to the special prosecutor. Also, last Friday’s newsletter questioned an article stating that this judge had just given the documents to the special counsel. This article indicates that the judge followed normal procedures and required OJ’s attorney to tender the documents to the special counsel.
FURTHER UPDATE: OJ’s lawyers have filed with the DC Court of Appeals: https://www.cnn.com/2023/03/21/politics/corcoran-trump-testimony/index.html . A three-judge panel ordered OJ’s lawyers to file their arguments by midnight Tuesday, and for prosecutors to respond by 6 am Wednesday. This is an unbelievably rapid timeline, and strikes me as unfair to prosecutors. However, this is an incredibly serious matter, as demonstrated by the court’s order.
Beryl Howell on Friday, the (female) retiring chief judge of the DC Federal Court, filed the original order Friday. The three DC Court of Appeals judges are also all females. Nina Pillard was appointed by Obama in 2013. Michelle Childs and Florence Pan were appointed by Biden in 2022. Judge Howell is highly respected; her findings are so direct and brutal that I see little chance that she will be overturned.
From here, OJ’s lawyers would likely appeal to the Supreme Court. That appeal would go first to Chief Justice Roberts, who supervises the DC circuit. The Supreme Court would be wise to reject the appeal quickly. That rejection would send the message that no one is above the law. Otherwise, they will look intensely political, not judicial. However, wisdom has not lately been in obvious evidence at the Court.
In other update news, on Saturday I questioned the name of the reopened Signature Bank, Flagship Bank, as ships sink. While there is a Flagship Bank, Signature is being reopened as Flagstar Bank. So this name is not much better. Flagstar is pretty much a nonsense name. Stars don’t sink, but they do burn out …
Alex Murdaugh jailhouse call tape accidentally released: https://www.msn.com/en-us/news/crime/alex-murdaugh-s-lawyer-mad-as-hell-after-jail-call-released/ar-AA18TMvW?ocid=hpmsn&cvid=00adab9b0073473a856454ef8792bd14&ei=87 . Hey, it’s small-town South Carolina. Yes, they’re even more incompetent than you think.
January 6 insurrectionist sentenced to 4 years for assaulting police officers: https://apnews.com/article/jan-6-capitol-riot-sentencing-police-officers-assault-3a20eadafe19c70c3bb36e20de105013 . DOJ continues to bring these screwballs to justice.
The fall and further fall of Maria Bartiromo: https://www.aol.com/news/fox-news-producer-forced-spy-053533363.html . The details in this article describe an extremely toxic workplace at Fox for women. However, it also highlights the fall of Maria Bartiromo. She was an on-air anchor at CNBC before joining Fox. At that time, she was a competent reporter of business news. When Bartiromo joined Fox, however, the wheels came off. She has now had years of pandering to Orange Julius and spouting wild conspiracy theories.
However, things just got worse for Bartiromo. Court documents indicate a widespread belief among Fox executives that Bartiromo was having an affair with Kevin McCarthy: https://radaronline.com/p/tucker-carlson-producer-questioned-maria-bartiromo-affair-house-republican-kevin-mccarthy/ . Ugh, and yuck …
Florida lawmaker’s COVID relief fraud: https://www.cnn.com/2023/03/21/politics/florida-joseph-harding-covid-19-fraud/index.html . Once again, a GOP lawmaker cheats his constituents. His attorney’s statement that Harding “made the best choice available to him” indicates a complete lack of familiarity with how to persuade people. Oh, and it’s completely appalling …
Life on Earth seeded from outer space: https://www.aol.com/news/asteroid-discovery-suggests-ingredients-life-201205918.html . This makes a lot of sense. It also strongly suggests that life is abundant throughout the universe.
WSJ: FDA clears lab-grown chicken: https://www.wsj.com/articles/fda-clears-california-companys-lab-grown-chicken-as-safe-to-eat-f0f201ec . This is not progress, in my view.
WSJ: The dangers of AI: https://www.wsj.com/articles/algorithms-ai-humanity-psychology-ebf1364c . While I am sympathetic to his main concerns, some of the recent individual decision-making in this country suggests an expanding role for AI may be beneficial.
New York Knicks “Captain” Willis Reed passes at 80: https://www.espn.com/nba/story/_/id/35912570/new-york-knicks-legend-willis-reed-dies-80 . Note that over his 10 year NBA career, Reed averaged 18.7 points and 12.9 rebounds per game. That is, he averaged a double-double over his entire career: https://en.wikipedia.org/wiki/Double-double . WSJ: More: https://www.wsj.com/articles/willis-reed-new-york-knicks-nba-4f956f82 .