Pfizer seeks second booster approval: https://www.nbcnews.com/health/health-news/pfizer-seek-authorization-2nd-covid-booster-people-65-older-rcna20118 . It’s about damn time. While vaccination continues to protect against hospitalization and death, its protection against infection wanes after 4 months. As someone who received his booster 7 months ago, this news has been too long in coming. WSJ: More: https://www.wsj.com/articles/pfizer-asks-fda-to-authorize-second-covid-19-booster-dose-11647384010 .
The latest research on Deltacron: https://www.msn.com/en-us/health/medical/how-worrying-is-deltacron-covid-variant-hybrid-of-delta-and-omicron/ar-AAV4m4z?li=BBnb7Kz .
White House pushes back against Congress’ failure to provide additional COVID funds: https://sports.yahoo.com/white-house-warns-severe-hit-005610782.html . The loss of funding only works if the pandemic is over. It’s not over. And yet you already know the GOP will blame Biden for the resulting problems. This is not governance. If we had decent Republican people in the Senate, they would be ashamed. Those days are long past.
Biden administration wants increased COVID data: https://www.aol.com/news/exclusive-u-seeks-expand-trump-100508371-135214309.html .
Second gentleman Doug Emhoff has COVID: https://apnews.com/article/ap-news-alert-906e0973e6281dc96465cee9e94e2007 . “Second gentleman” is such an odd phrase. What happened to the first one? WSJ: More: https://www.wsj.com/articles/second-gentlemandoug-emhoff-tests-positive-for-covid-19-11647382602 .
WSJ: The Fed’s rate increase problem: https://www.wsj.com/articles/fed-wrestles-with-the-challenge-of-how-quickly-to-raise-interest-rates-11647336602 . They are already off on the wrong foot by limiting this increase to 25 basis points. Powell in my view has set the Fed up for failure, again.
WSJ: SEC probes conflict of interest management at accounting’s Big Four: https://www.wsj.com/articles/big-four-accounting-firms-come-under-regulators-scrutiny-11647364574 . This is a sleeper of a story which could have massive ramifications. My best guess is that the SEC will take only modest steps, because accounting’s diversification into non-audit business raises conflict issues which will be very difficult to unwind.
Hong Kong’s Omicron pandemic: https://www.nbcnews.com/news/world/hong-kong-covid-outbreak-rcna20033?featureFlag=false . Sigh. As the article indicates, this was completely foreseeable. We indicated over three weeks ago that allowing Hong Kong residents to flee to the mainland made no sense in a Zero COVID regime. Now Shenzen, right across the border, also has a massive outbreak. Another key mistake was failure to complete the vaccinations of the older population.
China’s Omicron pandemic: https://gizmodo.com/china-reports-record-number-of-covid-cases-with-more-th-1848653485 . Thanks to the ridiculous reliance on the Zero COVID policy, China now has 80 million people in lockdown. This can’t be good for factory production. And there is every possibility China will soon look like Hong Kong (above) but on a massively larger scale. WSJ: More: https://www.wsj.com/articles/chinas-new-covid-19-cases-more-than-double-as-outbreak-spreads-11647336996 . Still more: https://www.wsj.com/articles/china-covid-19-lockdowns-rattle-oil-markets-add-to-uncertainty-11647382006 .
Ukraine may be subject to multiple disease outbreaks: https://www.cnn.com/2022/03/15/health/covid-19-polio-measles-cholera-ukraine/index.html .
Not happy in The Magic Kingdom: https://www.yahoo.com/lifestyle/disney-lgbtq-employees-stage-walkout-over-companys-continual-failure-to-create-a-safer-space-its-been-a-lot-of-words-with-little-action-214526434.html . At a very fundamental level, Disney does not understand or respect its workforce. In this business, that will be a fatal problem without rapid change.
WSJ: OPEC declines to predict oil supply and demand in light of Ukraine: https://www.wsj.com/articles/ukraine-war-could-severely-hurt-global-growth-and-oil-demand-opec-says-11647356534 .
Zelensky on center of world stage in tomorrow’s address to Congress: https://apnews.com/article/russia-ukraine-europe-winston-churchill-congress-af1578f966e3e8feda02659740c8fba1 . As the article notes, this will undoubtedly continue the fighter plane debate. Note that the US has sent 40 million rounds of small arms ammo to Ukraine. As there are 190,000 Russian troops in Ukraine, that’s over 200 rounds for each Russian soldier.
US says China has agreed to provide military aid to Russia: https://apnews.com/article/russia-ukraine-jake-sullivan-china-moscow-europe-0f7645e7e81fc736f9e82ba33eac380a . The details are really important here. This article has no answers, and misses the question. Russia wants drones to combat the Ukrainian drone success against its ground armaments. Will China send Russia drones?
US adopts more sanctions targeting the powerful around Putin: https://apnews.com/article/russia-ukraine-putin-europe-united-states-belarus-7bf8930fdeedf32de0e882fef3f5338b . WSJ: More: https://www.wsj.com/articles/russia-ukraine-sanctions-11645819467 . Still more: https://www.wsj.com/articles/eu-approves-new-russia-sanctions-as-divisions-emerge-11647345065 .
Russia “sanctions” US officials and others: https://www.cnn.com/2022/03/15/politics/biden-us-officials-russia-sanctions/index.html . What are they trying to accomplish with this ridiculous BS? These sanctions are obviously completely meaningless. However, Hillary Clinton took the opportunity to homer – with Putin’s balls, no less: https://thehill.com/blogs/in-the-know/in-the-know/598292-hillary-clinton-thanks-russia-for-lifetime-achievement-award-of .
Leaders of 3 EU countries in Kyiv to show support for Zelensky: https://news.yahoo.com/eu-leaders-take-train-to-kyiv-ukraine-zelensky-russia-144239555.html .
Grozny: https://www.businessinsider.com/russias-struggling-military-leaves-putin-with-only-terrifying-options-2022-3 . Everyone has focused on Syria and Aleppo as defining the Russian tactics in Ukraine. But this article points to an earlier example, Chechnya and Grozny in 1999. “Years later, the UN called Grozny the most destroyed city on earth.” Here’s the problem in a nutshell. Putin justified the Ukraine invasion as a peacekeeping mission to protect Russia’s Slavic brothers. The actual news cannot be kept from the Russian people forever, especially as many have relatives in Ukraine.
Kyiv is not Grozny. Not only is the world finished with Putin, but soon enough the Russian people will be as well. And even Russia’s state media (their version of Fox News) cannot shove this lie down their people’s throats. That is because they are more nuts than en Tucker Carlson (who they feature regularly): https://www.thedailybeast.com/wild-kremlin-tv-hosts-threaten-the-us-with-nuclear-strikes-unless-sanctions-end-and-reparations-are-paid .
WSJ: Saving Ukraine’s history and culture: https://www.wsj.com/articles/russias-war-rages-putting-ukraines-cultural-sites-at-risk-11647342931 . Hopefully they have already moved to get their treasures well hidden or out of the country.
Russian troops herd up 400 Mariupol citizens and hold them hostage in a hospital: https://www.aol.com/zelenskyy-tells-russian-troops-surrender-072259446.html . Meanwhile, 20,000 finally escape through a humanitarian corridor: https://www.politico.com/news/2022/03/15/ukraine-compromise-escape-mariupol-00017658 .
Russian “flasher” journalist ends up in court: https://news.yahoo.com/marina-ovsyannikova-ukraine-protest-russia-court-180127480.html . The journalist was only fined. The amount was 30,000 rubles, which is now $313 (according to the article below). That is a very minor punishment. However, she remains at risk for prosecution under the new “fake news” law, under which she could be sentenced to up to 15 years in prison. WSJ: More: https://www.wsj.com/articles/woman-who-burst-onto-russian-tv-set-with-antiwar-poster-fined-for-protest-violation-11647362961 . Note that over 15,000 Russian war protestors have been detained. This is becoming unmanageable for Vlad.
Russian ruble regains some value, but long-term outlook is poor: https://www.msn.com/en-us/money/markets/experts-say-more-dark-days-are-ahead-for-the-russian-ruble-as-the-invasion-of-ukraine-continues/ar-AAV6ybi?li=BBnb7Kz . I am surprised that the ruble has made these gains. The sanctions have done deep and permanent damage to the Russian economy. Russia needs global trade in a way the market apparently does not yet understand.
Global financial exposure to Russian debt: https://www.forbes.com/sites/jasonbisnoff/2022/03/15/wall-streets-skittish-attitude-toward-putin-pays-off-as-russia-default-looms/?sh=5c612b156938 . WSJ: More: https://www.wsj.com/articles/bond-markets-forecast-long-financial-freeze-for-russia-11647344890 . To repeat, the loss in Russian asset values has to be reported in the holders’ balance sheets regardless of if or when default occurs.
WSJ: The coming wheat shock: https://www.wsj.com/articles/ukraine-war-stokes-insecurity-in-the-worlds-food-supply-11647343035 .
More on the Turkish drones helping Ukraine: https://www.nbcnews.com/news/world/are-ukraines-cheap-slow-drones-successful-russian-targets-rcna19982 . So I think Biden is right not to have NATO give Ukraine Soviet fighter jets. But what about giving Ukraine better drones?
Two more reporters die under Russian fire in Ukraine: https://www.yahoo.com/entertainment/fox-news-pierre-zakrzewski-ukraine-killed-reporting-160141465.html . WSJ: More: https://www.wsj.com/articles/fox-news-cameraman-pierre-zakrzewski-killed-while-covering-ukraine-russia-war-11647360773 .
Homeless Russian astronomer discovers supernova: https://www.msn.com/en-us/news/technology/distant-supernova-discovered-by-homeless-amateur-astronomer/ar-AAV4QuY?li=BBnb7Kz . Just note that he is doing this by examining photos taken by giant telescopes. Still, his self-education and drive is a remarkable story.
Arms sales between nations: https://247wallst.com/special-report/2022/03/15/the-25-largest-arms-exporting-countries-and-who-they-sell-to/ . This is incredibly informative. Note, for example, that China is arming Pakistan while Russia and France are arming India. The US (39% of world exports) is arming Saudi Arabia.
WSJ: Plea negotiations on September 11 defendants: https://www.wsj.com/articles/plea-bargains-are-being-discussed-for-sept-11-defendants-11647377742 . Yes, September 11, 2001. The wheels of justice grind very slowly.
A new US domestic terrorism threat: “Involuntary celibates”: https://www.cbsnews.com/news/incel-threat-secret-service-report/ . To state the obvious, the vast majority of involuntary celibates are not violent. However, this is a newly identified threat category that has already claimed victims.
WSJ: China’s real estate unwind continues: https://www.wsj.com/articles/chinas-new-home-prices-fall-again-despite-efforts-to-help-developers-11647402673 .
Will time changes soon be a thing of the past?: https://www.aol.com/news/u-senate-approves-bill-daylight-184244252-204613821.html . The last change would be in March 2023, when we “spring forward” to permanent daylight savings time. This appears likely to pass. WSJ: More: https://www.wsj.com/articles/year-round-daylight-saving-time-bill-passes-the-senate-11647378528 . Still more: https://www.wsj.com/articles/daylight-saving-time-bill-explained-11647385115 .
Tonight’s Colbert opening: Steven noted that today is the Ides of March and suggested that the Russian oligarchs celebrate “in appropriate fashion”. “I’m not going to say how, but if you don’t know, just take a stab at it.”