Omicron comes to West Virginia: https://apnews.com/article/coronavirus-pandemic-health-wv-state-wire-west-virginia-355aeb65f5806ba464aff3fbbf3288bc .
Omicron comes to Kansas: https://apnews.com/article/coronavirus-pandemic-business-health-kansas-f539218dc9d3c0500691c74a09c00b25 . This brings the number of states reporting Omicron cases to at least 38. Again, we have never seen a COVID variant which is so infectious.
Omicron infects lung airways 70 times faster than other COVID strains: https://thehill.com/policy/healthcare/586074-omicon-infects-70-times-faster-than-previous-covid-strains-study .
German experts see Omicron as unstoppable: https://www.dw.com/en/covid-omicron-is-unstoppable-now/a-60148548 . The German foresee hundreds of thousands of new cases daily in Germany (and in other large countries).
WSJ: COVID cases rising in highly vaccinated South Korea: https://www.wsj.com/articles/highly-vaccinated-south-korea-cant-slow-down-covid-19-11639652626 . Note that South Korea’s case numbers are miniscule in relation to the US.
Biden asks Supreme Court to reinstate healthcare workers vaccine mandates: https://www.msn.com/en-us/news/us/biden-administration-asks-us-supreme-court-to-lift-lower-courts-hold-on-vaccine-mandate/ar-AARTtBM?li=BBnb7Kz .
CDC panel prefers mRNA vaccines over J&J: https://www.aol.com/lifestyle/cdc-panel-recommends-pfizer-moderna-204310673.html . So the compelling issue is the small risk of blood clotting with the J&J vaccine. More: https://www.usnews.com/news/health-news/articles/2021-12-16/cdc-panel-abruptly-shifts-stance-on-j-j-coronavirus-vaccine-recommends-pfizer-moderna-shots-instead .
Rural Arizona hospitals seek staffing help from federal government: https://apnews.com/article/coronavirus-pandemic-health-business-arizona-phoenix-a894feea16c93ca936b8af042dd0905b
WSJ: US military has granted no religious exemptions to vaccine mandate so far: https://www.wsj.com/articles/u-s-army-says-96-of-active-duty-troops-fully-vaccinated-against-covid-19-11639672831 .
WSJ: New York businesses struggle with state mask and vaccine mandates: https://www.wsj.com/articles/new-york-businesses-weigh-mask-vaccine-policies-under-new-state-rule-11639656004 .
Blood test can detect 50 types of cancer: https://www.healthline.com/health-news/this-new-test-can-detect-50-types-of-cancer-from-a-single-blood-draw .
The dangers of PFAS chemicals: https://www.aol.com/news/know-whats-blood-epa-docs-090039579.html . These chemicals have been in the media for some time. The linked article provides good details on what is known of the health risks.
White House looks to accelerate removal of environmental lead: https://www.usnews.com/news/us/articles/2021-12-16/white-house-unveils-faster-plan-to-eliminate-lead-pipes-paint . WSJ: More: https://www.wsj.com/articles/u-s-seeks-to-replace-every-lead-water-pipe-in-the-country-within-a-decade-11639648805 .
Initial weekly jobless claims rise to 206,000: https://apnews.com/article/coronavirus-pandemic-business-health-economy-unemployment-9b1af7c23de016b7659f4fdee49e53a5 . WSJ: More: https://www.wsj.com/articles/jobless-claims-likely-remained-near-decades-low-economists-say-11639650604 .
Is low unemployment an inflation risk?: https://www.wsj.com/articles/dashing-feds-hopes-low-unemployment-becomes-an-inflation-threat-11639650607 . This is classical economic reasoning, but the economy has changed. I believe an increasing disconnect is underway between the employment circumstances of highly skilled workers and less skilled workers. As this newsletter has repeatedly pointed out, wages paid to lower income workers have a greater multiplier effect in the economy because almost all of those wages are spent quickly. More highly skilled workers can afford to save, and savings give them more employment flexibility.
WSJ: Bank of England raises interest rates to combat inflation: https://www.wsj.com/articles/bank-of-england-raises-interest-rates-11639656570 . However, this move was unexpected and adds to the global downward pressure on bond prices. Also, this global pressure creates additional problems for China’s highly leveraged real estate sector. WSJ: More on China: https://www.wsj.com/articles/xi-doesnt-know-property-real-estate-housing-bubble-investment-evergrande-cewc-china-11639669010 . Meanwhile, inflation responses by central banks diverge: https://www.wsj.com/articles/ecb-boosts-bond-purchases-as-it-phases-out-pandemic-stimulus-11639659416 . More: https://www.wsj.com/articles/global-stock-markets-dow-update-12-16-2021-11639643633 .
WSJ: France bans most travel from UK over Omicron: https://www.wsj.com/articles/omicron-spread-prompts-france-to-ban-most-travel-from-u-k-11639671576 . Omicron spreads so rapidly that this ban cannot be effective. Also, neighboring Germany sees Omicron as unstoppable now.
Kellogg’s reaches tentative agreement to end strike: https://apnews.com/article/business-michigan-battle-creek-omaha-strikes-0bea1b12147e54c624ca1a2070233131 .
Tornado death toll hits 90: https://www.msn.com/en-us/news/us/biden-administration-asks-us-supreme-court-to-lift-lower-courts-hold-on-vaccine-mandate/ar-AARTtBM?li=BBnb7Kz . Seven people in one family died, including 4 children.
Judge sets January arguments in lawsuits against Orange Julius for January 6 insurrection: https://www.cnn.com/2021/12/16/politics/trump-lawsuits-january-hearings/index.html .