Majority unvaccinated in 5 states: https://www.cnn.com/2021/06/12/health/us-coronavirus-saturday/index.html . The states are Alabama, Louisiana, Mississippi, Tennessee and Wyoming. Remember the “Elite of the Left-Behind”? So, these are the non-elite of the left-behind, as they are intentionally leaving themselves behind. COVID will make them pay the price, unfortunately.
COVID’s future: https://www.bbc.com/news/health-57431420 . Some of the expert commentary here is thin. But I appreciate that we finally see in print a concept this newsletter has pressed for some time. There is very little evolutionary evidence that a virus must become milder to be more transmissible.
Emerging details of the Emergent Solutions mess: https://www.baltimoresun.com/coronavirus/ct-aud-nw-nyt-baltimore-vaccine-fda-20210613-gbxhnkqr4jdnlpg3yf7kijwtcy-story.html (link replaced 10/27/21). Perhaps some of you have worked with companies that have clean rooms. They are common in semiconductor and pharmaceutical manufacturing. From the clients I have had with these standards, the level of noncompliance here is shocking. And these people were making vaccines in a pandemic!
The psychology of the pandemic: https://www.theguardian.com/books/2021/jun/12/neuroscientist-karl-deisseroth-coronavirus-has-changed-us-all . The article discusses a new book by Karl Deisseroth and his pioneering of the field of optogenetics.
Boris Johnson may delay England’s lockdown lift: https://www.theguardian.com/world/2021/jun/12/boris-johnson-hints-at-delay-to-england-lockdown-lifting .
Indonesia is a COVID time bomb: https://www.deseret.com/coronavirus/2021/6/11/22530032/indonesia-coronavirus-outbreaks-loom .
Moscow enduring another COVID surge: https://www.aljazeera.com/news/2021/6/12/moscow-announces-non-working-week-as-covid-19-cases-surge . More on Russia: https://www.ctvnews.ca/health/coronavirus/russian-covid-19-cases-spike-47-per-cent-in-a-week-1.5467778 .
NBC sees logic as news: https://www.nbcnews.com/health/health-news/virtually-all-hospitalized-covid-patients-have-one-thing-common-they-n1270482 . We know that the vaccines are highly effective at preventing hospitalization. Logically, those in the hospital for COVID are highly likely to be unvaccinated. So, will those who currently refuse vaccination see the obvious logic here?
Saudi Arabia bars foreign pilgrims from the Hajj for a second year: https://www.aljazeera.com/news/2021/6/12/saudi-arabia-to-allow-60000-vaccinated-residents-to-perform-hajj . Participating residents must be fully vaccinated.
WSJ: G7 climate change statement coming: https://www.wsj.com/articles/g-7-leaders-set-to-announce-climate-plan-in-final-day-of-talks-11623533400 .
Ron Johnson enters the Idiot Olympics as a COVID expert: https://www.nbcnews.com/politics/politics-news/youtube-suspends-gop-sen-ron-johnson-s-account-says-he-n1270569 . Johnson keeps pressing the Orange Julius playbook. One suspects he will break his promise when elected in 2010 and run for re-election to the Senate next year. No brains, no integrity, no shame … how can the GOP base stomach these losers?
While the US does reruns of the Idiot Olympics, it is useful to remember who our friends are, and who are not: http://taxlawgazette.com/to-counter-chinas-belt-and-street-biden-tries-to-unite-g7/ (link replaced 10/27/21). When Orange Julius withdrew from the global community, China filled the void. We cannot just flip a switch and resume our prior position. However, it is useful to remember that China faces a rapidly aging population and declining birthrates.
How does the economy work?: https://www.businessinsider.com/wealthy-savings-money-makes-everyone-else-poorer-chicago-booth-review-2021-6 . The question asked is a good one. The answer the article gives is completely wrong. The wealthy do not have their money sitting in bank accounts. They are much more likely to have that wealth in the stock market or other business assets. And very low interest rates currently make borrowing very attractive. So, how does the economy work?
On a micro level, people’s primary focus should be to spend less than they earn. This allows them to save, and savings creates spending flexibility. To the extent they earn on those savings (for example, long term stock investments), their wealth increases even more, as does their flexibility.
If you take on debt, it should be at a low, fixed interest rate. For example, a mortgage on a house you plan to own for a long time (as a residence or investment) is generally a good leveraging technique. It also has important tax advantages. Credit card debt is a terrible alternative – interest rates range from high to confiscatory.
Most readers understand everything just mentioned. But a huge segment of the population does not. And thus, on a macro basis, many institutions make significant profits from credit card debt. This is true even including the nonpayment and bankruptcy risks. The powerful guarantee themselves profits, the clever work the system, and everyone else scrambles. And that’s how the economy works – holding consumption below expenditures. And the rich get richer on this simple formula.
There is truth to the idea that the wealthy’s failure to spend hurts the economy. The non-wealthy by definition must spend a greater percentage of their wealth to cover consumption. This money is often spent with other non-wealthy people, who in turn also spend it. This leads to the concept that spending by the poor increases the velocity of money. So conversely, savings by the wealthy decrease money’s velocity. On a macro level, this hurts the economy in comparison to spending money with the non-wealthy.
Speaking of spending by the wealthy, someone paid $28 million to ride with Jeff Bezos into space: https://apnews.com/article/jeff-bezos-lifestyle-travel-business-science-9cac30e2ca24ac1b972470cc9d6b2111 . WSJ: And with commission, it’s $29.7 million: https://www.wsj.com/articles/winning-ticket-to-join-jeff-bezos-in-space-costs-nearly-30-million-in-blue-origin-auction-11623519316 .
FBI continues insurrectionist round-up: https://www.nbcnews.com/news/us-news/chicago-police-officer-arrested-charged-alleged-role-capitol-riot-n1270510 . This dimwit is “ignorance of the law is no excuse” on steroids. Sadly for him, he looks the part, too.