COVID loss of smell: Clues at the cellular level: https://www.scientificamerican.com/article/mysteries-of-covid-smell-loss-finally-yield-some-answers1/ . As to loss of smell, certain olfactory cells lose their cilia, key receptors of odors. Some taste support cells are also affected, but loss of taste is still not well understood.
Toddler with COVID has stroke: https://www.nbcnews.com/news/us-news/no-other-case-3-year-old-missouri-had-stroke-after-n1252350 . Horrible. The clot theory seems correct.
WSJ: Vaccine priorities: https://www.wsj.com/articles/vaccine-rollout-presenting-states-with-questions-over-race-and-access-11608908400 .
WSJ: More on US requirement of COVID test for UK travelers: https://www.wsj.com/articles/u-s-to-require-negative-coronavirus-tests-for-airline-passengers-from-u-k-11608874724 .
Moderna vaccine produces first severe allergic reaction in Boston doctor: https://www.reuters.com/article/us-health-coronavirus-vaccines-moderna/boston-doctor-has-severe-allergic-reaction-to-moderna-covid-vaccine-nyt-idUSKBN29000W .
The effect on rural healthcare when a doctor gets sick: https://www.npr.org/2020/12/01/940697524/the-ripple-effect-of-1-rural-colorado-doctor-catching-the-coronavirus . The pandemic has identified many chokepoints in the delivery of healthcare.
Will Midwest case decline hold?: https://abcnews.go.com/Health/wireStory/experts-experience-convinced-midwest-virus-dangers-74909005 (link replaced 3/8/21). We should know the answer in three weeks or less.
Governors frustrated with federal pandemic non-response: https://thehill.com/homenews/state-watch/531599-anger-at-congress-trump-mounts-among-governors .
Oregon mink has coronavirus: https://www.oregonlive.com/coronavirus/2020/12/oregon-mink-trapped-in-wild-tests-positive-for-coronavirus-raising-fears-of-mutant-viral-strain.html . The job is to keep the quarantined minks on the farm. How hard is that? Too hard for the farmers, apparently. Establishment in wild animal populations will further complicate virus control.
WSJ: First vaccinations in South America: https://www.wsj.com/articles/first-covid-19-vaccines-are-given-in-latin-america-but-region-faces-challenges-11608911207 .
First case of UK variant found in France: https://www.reuters.com/article/us-health-coronavirus-france-variant-idUSKBN28Z0YJ . Ditto for Singapore: https://www.reuters.com/article/us-health-coronavirus-singapore/singapore-confirms-first-case-of-new-coronavirus-variant-found-in-uk-idUSKBN28Y05A . And Lebanon: https://www.arabnews.com/node/1782786/middle-east . And of course the US has inadequate testing protocol to know what’s going on here.
UK’s largest testing lab hit by COVID outbreak: https://www.theguardian.com/world/2020/dec/24/staff-at-uk-coronavirus-testing-lab-hit-by-outbreak-of-the-disease .
Zombie corporations: https://www.pionline.com/economy/americas-zombie-companies-rack-14-trillion-debt . A zombie corporation is not earning enough to service its debt expense. The Bloomberg analysis of 3,000 large US corporations shows that almost 20% (that is, almost 600 companies) are in zombie status. You are aware of the broadly held view that current stock market valuations are well above historical standards. This is another measure of how far out of whack we are with historical valuation norms.
Zombie debt has gone from $378 billion before the pandemic to $1.36 trillion now. This is an increase of $1 trillion in 1 year, against our annual GDP of $22 billion pre-pandemic. The article also notes that all 4 major US airlines have gone into zombie status this year. When I was more focused on pension consulting (1980’s and 1990’s), I periodically calculated the industry liabilities offloaded on PBGC. At that time, over half of this liability was from the airlines and the steel industry. The airlines may hit the PBGC again. Delta has $5.5 billion in unfunded pension liabilities.
The US faces a serious wave of corporate (and personal) bankruptcies over the next 18 months. These will have significant ripple effects throughout the economy.
WSJ: UK finds sovereignty requires compromise: https://www.wsj.com/articles/with-brexit-the-u-k-finds-sovereignty-doesnt-necessarily-mean-getting-its-way-11608897659 .
WSJ: UK economy must face Brexit music: https://www.wsj.com/articles/brexits-unwinding-of-integration-with-eu-to-test-u-k-economy-11608902697 . The major issue is the ongoing flight of financial jobs from London to Frankfurt. London’s power as a financial center is in decline. London and the UK will necessarily decline as well. It also remains to be seen if this deal will keep Scotland in the UK.
China’s economy now expected to overtake US in 2028: https://www.msn.com/en-us/money/markets/chinas-economy-set-to-overtake-us-earlier-due-to-covid-fallout/ar-BB1ceMA2?li=BBnb7Kz . I didn’t think China would overtake the US in my lifetime until the Bush 43 presidency. The pandemic has now moved up the expected overtake by 5 years.
WSJ: Military decision is compromising US national security interests: https://www.wsj.com/articles/u-s-trained-afghan-fighter-pilot-is-in-hiding-after-being-denied-safe-passage-11608912017 . The military is highly reliant on cooperative nationals in its foreign operations.
The war against reality: https://www.yahoo.com/entertainment/how-trump-made-2020-the-year-of-disinformation-223602486.html . A long article, this download masquerades as analysis. It fails. Trump’s war against reality goes way back. It’s rooted in his unique combination of narcissism and absolute lack of ability. What about 2015 through 2019? What about his huge inaugural crowd, or claims he won the popular vote in 2016? The remaining question is how long it will take for other Republican politicians to abandon him.
WSJ: Golf takes priority over American lives: https://www.wsj.com/articles/u-s-families-economy-government-in-limbo-as-trump-remains-mum-on-covid-19-aid-bill-11608924128 . Disconnecting Biden: https://news.yahoo.com/trump-threatening-iran-biden-says-205951144.html . Trump can cause a lot of trouble in the next 26 days. It represents 1/56 of his total time in office. Hopefully he will just golf and eat cheeseburgers. And sign or veto the relief package, so Congress can override the veto if needed.