Omicron BQ.1 and BQ.1.1 double in US: https://www.usnews.com/news/us/articles/2022-10-21/covid-variants-bq-1-bq-1-1-make-up-over-16-of-u-s-cases . The article mentions that Europe expects these subvariants to be dominant there in a month. It looks as though the US will be there in a month or so as well.
Nursing home COVID vaccine mandates: https://health.usnews.com/best-nursing-homes/articles/vaccine-mandates-in-nursing-homes .
RSV hospital admissions strain pediatric units: https://www.wsj.com/articles/a-surge-in-pediatric-respiratory-viruses-is-straining-hospitals-11666306125 . The expected difficult flu season will make this problem a lot worse.
Chinese leadership keeps Zero COVID: https://apnews.com/article/travel-health-beijing-government-and-politics-pandemics-8057d051d979ce7c2fd0f5512dbe3889 . The economics of this remain unsustainable. Buy a decent Western vaccine and get on with it …
Latest ADHD research explores brain wiring: https://www.psypost.org/2022/10/study-cognitive-control-in-children-with-adhd-finds-abnormal-neural-connectivity-patterns-in-multiple-brain-regions-64090 .
The Fed rate hike slowing “debate”: https://money.usnews.com/investing/news/articles/2022-10-21/feds-rate-debate-shifts-to-how-and-when-to-slow-down . Clearly, at some point they will slow. That is not happening in November or, in my view, in December. Sometime in 2023? Yes, of course. So slowing should occur when there is significant progress toward the 2% inflation target. This is a data-driven decision for now, not a debate. Meanwhile, the Journal sees a debate: https://www.wsj.com/articles/fed-set-to-raise-rates-by-0-75-point-and-debate-size-of-future-hikes-11666356757 . There won’t be any new inflation data before the November meeting. This discussion is appropriate for December, but not now. And all of this is taking the eye off the ball, which is the size and depth of the coming recession.
Eighth Circuit stays student loan forgiveness: https://www.npr.org/2022/10/21/1130705453/student-loan-cancellation-blocked-lawsuit-appeal . This suggests the Eighth Circuit believes there is a colorable argument that the states have standing to sue. WSJ: More: https://www.wsj.com/articles/appeals-court-temporarily-halts-biden-administrations-student-loan-forgiveness-program-11666394482 .
WSJ: Upcoming scrutiny of Kroger-Alberston’s merger: https://www.wsj.com/articles/kroger-albertsons-antitrust-review-likely-to-focus-on-local-store-overlap-11666344601 . To repeat, this merger is anticompetitive in many markets in the West. The question is how much anti-trust scrutiny has been strengthened.
Xi to announce Politburo Standing Committee on Sunday: https://www.usnews.com/news/world/articles/2022-10-20/the-big-reveal-xi-set-to-introduce-chinas-next-standing-committee .
Johnson flies back to UK as Sunak nears qualification for PM race: https://www.rnz.co.nz/news/world/477168/rishi-sunak-leads-uk-pm-race-as-boris-johnson-flies-back-to-london . Updating yesterday’s predictions, Jeremy Hunt has said he will not stand for the PM race. That pretty much leaves Johnson and Sunak. The scandals plaguing Johnson and the upcoming Partygate hearings seem to be a flashing red light for the Tories. Do they have enough common sense to consider who might help them most in the next election? Because if the election were held today, polls show Labor would crush them. WSJ: More: https://www.wsj.com/articles/boris-johnsons-potential-return-shakes-up-race-for-u-k-prime-minister-11666356789 .
British pound falls: https://www.upi.com/Top_News/World-News/2022/10/21/british-pound-falls/2391666364819/ . Analysis here is straightforward. Truss was a complete disaster, so her departure helped the pound. Now, it is clearer that the Tories will continue to be embroiled in turmoil, and the market hates instability. But there is an additional reason for the fall: https://money.usnews.com/investing/news/articles/2022-10-21/uk-retail-sales-fall-by-more-than-expected-in-september . Note the prediction that the UK economy will continue contracting until the second half of 2023. There will be immense pressure on the new PM.
WSJ: Will Ukraine get the anti-drone defenses it needs?: https://www.wsj.com/articles/as-russia-pummels-ukraine-u-s-counterdrone-system-months-away-from-delivery-11666353651 . Meanwhile, Ukraine continues its push to retake Kherson: https://www.wsj.com/articles/ukraine-strikes-occupied-kherson-as-more-russians-flee-11666351776 .
Report describes the top secret nature of the nature Orange Julius took to Mar-a-Lago: https://www.usnews.com/news/articles/2022-10-21/trump-hits-back-after-report-on-classified-mar-a-lago-documents . So what else did he take, and where is it?
Steve Bannon gets 4 months for defiance of Congressional subpoena: https://apnews.com/article/capitol-siege-steve-bannon-congress-donald-trump-sentencing-36d412eba9e1609a030859852378ae3d . WSJ: More: https://www.wsj.com/articles/steve-bannon-longtime-trump-ally-sentenced-to-four-months-for-contempt-of-congress-11666364968 .
January 6 committee subpoenas Orange Julius: https://apnews.com/article/capitol-siege-steve-bannon-congress-donald-trump-sentencing-36d412eba9e1609a030859852378ae3d .
A honeybee vaccine could save the hive: https://www.popsci.com/science/honeybee-vaccine-disease/ . Of course, we’d give this a B plus.