UK virus variant in Colorado: https://www.cnbc.com/2020/12/28/us-confirms-first-case-of-the-new-covid-strain-discovered-in-uk-.html . The person identified does not have a travel history. So there are multiple cases already in the US. We don’t know where because unlike the rest of the world we do not do any significant genomic testing of our cases. Effective contact tracing is now essentially impossible. And it’s almost one year after the first case was identified in the US. This is inexcusably incompetent. Inexcusable. I-N-E-X-C-U-S-A-B-L-E-!!! WSJ: More: https://www.wsj.com/articles/u-s-reports-first-case-of-new-covid-19-strain-11609281769 .
UK variant spread and US genomic testing: https://www.seattletimes.com/seattle-news/health/a-qa-about-the-new-coronavirus-variant-with-the-fred-hutch-scientist-whos-been-tracking-its-spread/ . The best information I’ve seen on these issues so far.
Operation Warp Speed traveling at impulse power: https://www.cnbc.com/2020/12/29/joe-biden-says-trumps-covid-vaccine-effort-far-short-its-own-goals.html . The effort is behind because the current captain of the Enterprise is warped. Seriously, the math is not at all encouraging: https://www.nbcnews.com/news/us-news/current-rate-it-ll-be-10-years-americans-adequately-vaccinated-n1252486 . Biden inherits another headache.
California hospital crisis continues: https://deadline.com/2020/12/coronavirus-california-lockdown-extended-hospitals-overwhelmed-gavin-newsom-1234662437/ . Five LA hospitals have oxygen supply issues forcing patients away: https://www.cnn.com/2020/12/29/us/california-hospital-oxygen-covid/index.html .
US COVID data unstable due to holidays: https://www.cnn.com/2020/12/29/politics/white-house-coronavirus-task-force-holiday-state-reports/index.html . As with prior instabilities, hospitalization data is the most reliable indicator in this period.
Louisiana congressman-elect dies from COVID at age 41: https://www.usnews.com/news/politics/articles/2020-12-29/louisiana-congressman-luke-letlow-dead-from-covid-19 .
COVID can lead to severe psychotic episodes: https://www.dailymail.co.uk/sciencetech/article-9095407/Reports-severe-psychotic-Covid-19-symptoms.html . This has to be one of the most disturbing headlines of the pandemic (sorry for the double entendre).
This pandemic not necessarily “the big one”, says WHO: https://www.theguardian.com/world/2020/dec/29/who-warns-covid-19-pandemic-is-not-necessarily-the-big-one . Feels like piling on at the end of 2020, doesn’t it? However, I do agree that another, larger pandemic is entirely possible. I also agree that COVID is embedded in the population and is unlikely to be eradicated. As a counterpoint, the tremendous strides in vaccination response made for COVID should enable us to fight back against all viral infections more effectively in the future.
WSJ: Lowering COVID mortality in Germany: https://www.wsj.com/articles/german-town-finds-a-blueprint-for-lowering-covid-19-deaths-11609257334 .
Spain to keep register of vaccine refusers: https://www.cnn.com/2020/12/29/europe/spain-vaccine-covid-registry-intl/index.html . As noted, there are potential privacy issues here. In today’s environment of computer hacking, this will not turn out well if the list gets out.
WSJ: Will Lunar New Year lead to a COVID surge in China?: https://www.wsj.com/articles/new-cases-challenge-chinas-targeted-covid-19-strategy-11609254994 . As long as contact tracing and isolation remain aggressive during January, I’d say no. The penetration of the UK or South African variants into China could pose a more significant threat.
WSJ: Mexico legalizes cannabis: https://www.wsj.com/articles/mexico-set-to-become-worlds-largest-legal-cannabis-market-11609263506 . That makes the US the only North American country which has not legalized cannabis, at least in 35 states.
Congress passes repeal of health insurance anti-trust exemption: https://www.thinkadvisor.com/2020/12/22/senate-approves-repeal-of-health-insurers-antitrust-exemption/ . More: https://www.actuary.org/sites/default/files/members/alerts/pdf/2020/2020-H-11.pdf .
WSJ: Feds fail to cut sugar recommendation: https://www.wsj.com/articles/new-u-s-dietary-guidelines-reject-recommendation-to-cut-sugar-alcohol-intake-11609254000 . The amount of sugar in the American diet is ridiculous. The soft-drink lobby feels like the tobacco lobby.
DOL says that unemployment benefits will not lapse due to Trump’s signing delay: https://thehill.com/policy/finance/531929-labor-unemployment-wont-lapse-despite-trump-signing-delay . Here are the details of the legal work-around identified by Michelle Evermore: https://thehill.com/policy/finance/531819-states-labor-seek-workaround-for-expired-unemployment-benefits . However, even with this legal workaround, some states may not be able to prevent the lapse. What an unfortunate mess, created by the Tantrum-in-Chief of course. WSJ: More: https://www.wsj.com/articles/what-happens-to-covid-unemployment-benefits-in-2021-heres-what-we-know-11608989850 .
Mnuchin says $600 stimulus checks will start going out tonight (Tuesday): https://www.cnbc.com/2020/12/29/stimulus-payments-will-start-going-out-tonight-treasury-secretary-mnuchin-says.html . More: https://www.politico.com/news/2020/12/29/first-stimulus-checks-sent-tuesday-452209 . Payment issuance order: https://www.cnet.com/personal-finance/irs-now-ready-to-send-first-second-stimulus-checks-for-600-find-out-if-youll-get-it-in-the-first-wave-or-last/ . WSJ: More: https://www.wsj.com/articles/some-americans-to-receive-600-stimulus-payments-tonight-mnuchin-says-11609284634 .
Boeing 737 MAX completes first 2020 commercial flight: https://www.nbcnews.com/business/business-news/passengers-set-board-first-boeing-max-flight-almost-two-years-n1252452 .
WSJ: EU countries accept Brexit deal: https://www.wsj.com/articles/eumemberstates-approve-trade-dealwith-u-k-11609258728 .
WSJ: Does QE create central bank risk?: https://www.wsj.com/articles/how-the-2020-qe-boom-might-trip-up-central-bankers-11609237796 . If you’re interested in economic theory and prediction, this piece is worth some thought. Even if you accept everything in the article, many experts are concerned that we will see inflation post-pandemic. Many businesses are currently operating at non-sustainable margins. There is also an expectation that recovery will be slow, taking 2 years or more.
That may not be classic stagflation, but it is a combination of inflation and low growth. This year suggests that the stock market has remained high because investors believe the Fed will continue its free-spending behavior. At some point, in my view, the Fed must allow a market shakeout to occur.
WSJ: Restructuring of the economy by sector and state: https://www.wsj.com/articles/pandemic-reshapes-u-s-employment-speeding-changes-across-industries-11609243204 . There’s a lot of data here. The overarching conclusion, however, is that a lot of lower-paid workers have been hit hard. It is difficult to see their path forward.
WSJ: Are better times just around the corner?: https://www.wsj.com/articles/return-to-almost-normal-may-be-closer-than-you-think-11609243201 . My view is hopeful for 2021. This article is overly optimistic.
Frackin’ Ted’s payback amounts to $35 million: https://www.huffpost.com/entry/wilks-fracking-donors-ted-cruz-35-million-loan-coronavirus-relief_n_5fea86eec5b64e442105c571 . This is a complete rip-off of US taxpayers.
Michael Cohen points out how the pardon palooza may bite Donnie in the t-rump: https://news.yahoo.com/michael-cohen-says-associates-trump-112253444.html . I’m personally rooting for this result. Cohen is correct about losing Fifth Amendment protection on matters tied to the pardoned crime.
NY gears up Trump tax investigation: https://www.msn.com/en-us/news/politics/the-new-york-prosecutor-investigating-trumps-tax-records-is-calling-in-reinforcements-as-the-presidents-time-in-office-comes-to-an-end/ar-BB1ckFqP?li=BBnb7Kz . No Stone unturned.
WSJ: The Georgia military vote: https://www.wsj.com/articles/georgia-military-families-who-backed-biden-could-help-determine-senate-control-11609246801 .
Texas Bowl flushed: https://www.heartlandcollegesports.com/2020/12/29/texas-bowl-cancelled-between-tcu-and-arkansas/ . We lose a Bowl performance by 3-7 Arkansas.
Keyontae Johnson update: https://www.yahoo.com/lifestyle/florida-keyontae-johnson-returns-gators-collapse-hospital-myocarditis-coronavirus-covid19-pandemic-mike-white-225108742.html .