News for September 22 — Long COVID Involves Organ Damage

Long COVID involves organ damage: https://www.bbc.com/news/health-66890505 . This study appears to have limitations not discussed in the article. The group studied had severe COVID which led to their admission to the hospital. To me, that means major organ damage is not surprising. However, it is interesting that much of this involves lung damage, although of course COVID is a respiratory illness.

Also, many long COVID patients (perhaps a strong majority) did not have severe COVID or require hospital admission. In my view, this study at best provides potential clues gained by looking at an unusual subset of long COVID patients.

False positive COVID tests rare: https://www.prevention.com/health/health-conditions/a38769630/false-positive-covid-test/ . The article places the rate of false positives at 0.05%.

COVID shots face rollout bumps: https://www.usnews.com/news/health-news/articles/2023-09-22/new-covid-19-shot-rollout-sees-insurance-availability-issue . None of this seems particularly serious or difficult to correct.

Pig-to-human heart transplant: https://www.cnn.com/2023/09/22/health/pig-heart-transplant-living-patient-second-time-ever/index.html . We wish Mr. Faucette the best, especially since things didn’t go so well for the pig.

Potential Kaiser Health strike in two weeks: https://www.aol.com/news/more-75-000-kaiser-workers-195829740.html . As the article note, this would be the largest healthcare strike in US history. This would devastate health care in the communities affected. For example, Kaiser holds about a 25% market share in the Portland metropolitan area.

Nebraska mother helping 17-year-old daughter with abortion gets 2 years in prison: https://www.usnews.com/news/us/articles/2023-09-22/nebraska-mother-sentenced-to-2-years-in-prison-for-giving-abortion-pills-to-pregnant-daughter . I doubt this result will be popular with Nebraska voters.

WSJ: Rite Aid plans significant contraction in Chapter 11 bankruptcy: https://www.wsj.com/articles/rite-aid-planning-to-shut-down-hundreds-of-stores-in-bankruptcy-de7967db .

WSJ: The economics of the immigration surge: https://www.wsj.com/economy/jobs/rebound-in-immigration-comes-to-economys-aid-60769edb . On the one hand, the Journal makes an interesting point that immigration provides some positive support to the economy. However, this article reflects absolutely no understanding of the difference between micro and macroeconomics. The Ukrainian situation is classic microeconomics – a Ukrainian restaurant gets skilled workers leaving Ukraine because of the war. This is trivial in relation to the overall US economy.

The Venezuelan example, granting work permits to 470,000 Venezuelans already in the country, is more significant. However, if as stated it takes an average of a year to get these permits, that won’t help the economy immediately. The example of Jonaton Ochoa, a Venezuelan immigrant is quite relevant. He is earning half the pay he would earn if hired legally. Most of these Venezuelans will be subject to severe exploitation until their work permits come through. As an economic policy, that sucks.

WSJ: More South American immigrants head toward US: https://www.wsj.com/world/americas/greater-migrant-surge-headed-for-u-s-border-6b6ecd66 .

WSJ: More babbling about central banks: https://www.wsj.com/economy/global/central-banks-near-rate-peak-but-economic-toll-yet-to-be-counted-4181f492 . I regularly complain that the Journal’s economics writers show no understanding of economics. Here, however, is a new Exhibit A. It’s just ignorant to suggest these are all independent actions coming to the same conclusion to pause currently. The dollar is the strongest currency in the world, and gaining strength. If foreign banks are going to sell their bonds, in this environment they must offer a rate higher than the US rate (Japan is a special case). Also, Europe has experienced even higher inflation than the US, so rates had to go up so that their bonds had a real rate of return.

The Fed is managing the US economy. But their actions have global consequences which wag a lot of tails. The US pause created the opportunity for other banks to pause.

WSJ: Evergrande restructuring collapses: https://www.wsj.com/articles/evergrande-scraps-35-billion-restructuring-plan-as-chinas-housing-crisis-intensifies-5c2db979 . As we have argued for some time, China’s real estate overbuild is severe and will cause property prices to decline severely. As property is 25% of the Chinese economy, that economy is doomed to slower growth for the foreseeable future. Also, we can no longer put any faith in China’s economic data.

UAW expands strike against GM and Stellantis: https://apnews.com/article/uaw-ford-stellantis-general-motors-strike-labor-4132aa222c9a4456415af480d6fafa98 . Ford was spared because the UAW finds Ford as bargaining in earnest. WSJ: More: https://www.wsj.com/business/autos/uaw-poised-to-expand-strike-to-more-auto-factories-98f0a9af .

Ukraine attacks Black Sea fleet headquarters in Crimea: https://www.cnn.com/2023/09/22/europe/ukraine-black-sea-attack-crimea-intl/index.html . WSJ: More: https://www.wsj.com/world/europe/ukraine-strikes-the-headquarters-of-russias-black-sea-fleet-in-crimea-74980e9f . Still more: https://www.wsj.com/world/biden-told-zelensky-u-s-is-willing-to-provide-long-range-atacms-missiles-3d125ab3 . Ukraine’s homegrown drone capacity plus the allies’ gift of sophisticated long range missiles suggests the remote strikes against Russian positions in the rear will continue throughout the winter. Crimea is a likely target during the next 6 months, especially with Ukrainian assurances that our missiles will not be used to strike Russian territory..

McCarthy “frustrated” over GOP blockade of shutdown legislation: https://www.cnn.com/2023/09/21/politics/house-government-shutdown-negotiations-latest/index.html . Remember, the bill they’re arguing over has no chance of passage. So we have 6 members of the House preventing constructive work. And they have no workable alternative.

WSJ: New bipartisan Senate approach to avoiding government shutdown: https://www.wsj.com/politics/policy/novel-approach-would-avoid-shutdown-force-congress-to-keep-working-61406568 . This does not really address the current circus in the House GOP. Apparently these dimwits need yet another government shutdown to see what horrible consequences this has.

Senator Menendez steps down from chairmanship after indictment: https://www.aol.com/sen-bob-menendez-steps-down-203448610.html . Yes, he is entitled to a fair trial. However, Menendez has been here before, and has not offered any explanation for the gold bars. WSJ: More: https://www.wsj.com/us-news/law/sen-bob-menendez-indicted-on-federal-bribery-charges-e70623db .

Senator Tim Scott crashes the Idiot Olympics with dumbest comment of the year: https://thehill.com/homenews/campaign/4217469-uaw-files-complaint-against-tim-scott-over-threats-to-fire-workers-if-they-strike/ . Just as a reminder, Tim, you’re running for president. Why would you piss off every union worker in the country? Please, get out of the race. You’re an embarrassment.

Orange Julius’ mental stability continues to drop: https://www.rawstory.com/trump-punishment-milley/ . So Mr. January 6 accuses the retiring head of the Joint Chiefs of Staff of treason. What a loser …

The Rude Dude’s financial and legal problems grow exponentially: https://www.cnn.com/2023/09/22/politics/giuliani-defamation-lawsuit-sanctions/index.html . Federal courts have considerable ability to enforce financial orders, including asset seizures. Rudy knows that. So he presumably does not have the cash to pay. Meanwhile, the suit for $1.3 million for legal fees tells lawyers that working for Rudy will be reputation-damaging, and (worst of all) free. As Rudy faces the Georgia RICO case, these are very damaging disabilities.

Michigan AG says fake electors “brainwashed”: https://www.cnn.com/2023/09/22/politics/dana-nessel-fake-electors-michigan-comments/index.html . These people deserve prosecution and conviction. However, the AG has created a trial issue by commenting on an active case. I don’t think this kills her case, but it does hurt it, and this is inappropriate behavior.

Violent January 6 insurrectionist sentenced to 5 years in prison: https://apnews.com/article/rodney-milstreed-capitol-riot-sentencing-d9ace182fd824a0771e5940ba91c4345 .