WHO comments on COVID Delta variant: https://www.cnbc.com/2021/06/21/covid-delta-who-says-variant-is-the-fastest-and-fittest-and-will-pick-off-most-vulnerable-.html . Because of the uneven vaccination rates in the US, we face the “two Americas” problem discussed yesterday.
Younger American adults lag in vaccination race: https://abcnews.go.com/Health/young-adult-vaccination-rate-lags-age-groups-cdc/story?id=78406341 . Once again, one wonders if the educational system is failing at imparting life skills. This population should be less subject to medical issues than older Americans, and thus potentially more “vaccinatable”. Meanwhile, the administration is working to raise teen vaccination rates: https://www.nbcnews.com/politics/politics-news/biden-admin-steps-efforts-raise-covid-vaccination-rates-among-teens-n1271645 .
Final study confirms efficacy of GSK-Vir monoclonal antibody drug sotrovimab: https://news.yahoo.com/study-confirms-gsk-vir-antibody-122728313.html .
Controversy over Alzheimer’s drug approval continues: https://www.cbsnews.com/news/fda-adviser-alzheimers-drug-aduhelm/ .
Florida government office COVID outbreak sickens 6, hospitalizes 5, kills 2: https://www.cnn.com/2021/06/22/us/florida-manatee-county-coronavirus-outbreak/index.html . So, was a variant involved? Genomic sequencing is a must in these cases.
Hospitalizations jump in Arkansas: https://arktimes.com/arkansas-blog/2021/06/21/coronavirus-today-another-jump-in-hospitalized . Note that there are only 70 ICU beds available in the state. The declining number of reported cases may signal the crest of this wave.
COVID is torching South America: https://www.wsj.com/articles/south-america-is-now-covid-19-hot-spot-witheighttimes-the-worlds-death-rate-11624299176 .
The global response to tracking variants: https://www.scientificamerican.com/article/new-coronavirus-variants-are-urgently-being-tracked-around-the-world/ .
Copa America superspreader continues: https://www.espn.com/soccer/copa-america/story/4416065/coronavirus-cases-at-copa-america-rise-to-140-conmebol-says . The low positivity rate is not nearly as important as the rapid increase in the number of cases.
California will cover unpaid rent during the pandemic: https://www.foxnews.com/us/california-weighs-extending-eviction . If I’m a Californian who has worked his butt off to pay rent during the pandemic, I’m kinda bummed.
The ongoing problem of medical debt: https://money.yahoo.com/medical-debt-uniquely-american-problem-155327746.html . So far, our only solution has been “Don’t get sick until you’re eligible for Medicare”. That is not enough.
Medicaid and CHIP enrollment surged by nearly 10 million in pandemic’s first year: https://www.wsj.com/articles/medicaid-enrollment-surged-during-covid-19-pandemic-report-shows-11624319593 .
The military suicide epidemic: https://www.nbcnews.com/news/military/9-11-military-suicides-dwarf-number-soldiers-killed-combat-n1271346 . We can all be grateful that combat deaths have been relatively low over the past 20 years. Over 70% of the suicides are among veterans. A logical approach would be for the VA to adopt a holistic approach to veteran health and suicide prevention.
WSJ: Going-concern notices indicate troubles in construction, transportation and energy industries: https://www.wsj.com/articles/chinese-junk-bonds-flash-warning-signs-11624267802 . Here’s another good reason for an infrastructure bill.
WSJ: A primer on inflation and stocks: https://www.wsj.com/articles/what-investors-can-learn-from-the-history-of-inflation-11624263340 .
Supreme Court refuses to hear appeal of insurers regarding $12 billion of reimbursement under ACA: https://www.usnews.com/news/top-news/articles/2021-06-21/us-supreme-court-rebuffs-insurers-on-obamacare-reimbursements . The case returns to the lower courts for further litigation.
Logistical challenges delaying global distribution of US vaccine donations: https://apnews.com/article/joe-biden-africa-middle-east-coronavirus-pandemic-health-4745a689cb17703d73464a0731cbe8fe . WSJ: More: https://www.wsj.com/articles/biden-administration-to-miss-june-target-for-some-covid-19-vaccine-donations-11624306309 . Delays mean life and death in the pandemic.
The alleged labor shortage: https://news.yahoo.com/this-is-when-the-labor-shortage-will-end-170200645.html . Comments in response to the assertions in this article: (1) Note that Baby Boomers have retired at twice the pre-pandemic rate, reducing their labor force participation by 2.5 million; (2) 1.4 million working mothers have left the workforce; and (3) GDP is near pre-pandemic levels with 7.6 million fewer worker jobs.
Even if the 3.9 million departing the workforce is exactly matched to the 7.6 million fewer jobs (which it’s not), this data reflects a significant economic dislocation, not a labor shortage. What do people do if there is no job for their talents in their community right now? Many workers cannot immediately find work. They will exhaust their limited savings. As stated here previously, the GOP early termination of jobless benefits will devastate many families. More: https://money.yahoo.com/wh-advisor-no-strong-evidence-unemployment-benefits-are-pulling-people-out-of-the-labor-force-131926943.html .
Battle grows over mail slowdown: https://www.msn.com/en-us/news/politics/21-attorneys-general-oppose-usps-plan-to-delay-first-class-mail-warning-4-to-5-day-delivery-times-could-have-significant-impact-on-mail-in-ballots/ar-AALhRrC?li=BBnb7Kz . In today’s instant gratification society, slowing delivery will hasten the demise of this “service”. Will the Post Office deliver packages more rapidly than letters? The business implications for mail marketers and mail-order pharmacies are significant.
WSJ: Will China allow debt defaults?: https://www.wsj.com/articles/chinese-junk-bonds-flash-warning-signs-11624267802 . This is a very worrying sign about investor views of the Chinese economy.
Biden to propose anti-crime strategy Wednesday: https://www.msn.com/en-us/news/politics/biden-launches-an-effort-to-head-off-violent-crime-and-political-peril-for-his-party/ar-AALhKYQ?li=BBnb7Kz . This seems like another area where it will be difficult to pass legislation. The 2022 election is setting up as finger-pointing as to who is most responsible for not getting things done. So, some things don’t change.
The zero sum game of fiscal stimulus: https://goodwordnews.com/the-pandemic-stimulus-was-loaded-up-front-it-could-mean-a-chaotic-year/ (link replaced 11/13/21). The Times nears the truth here, but doesn’t quite say it. Under Orange Julius, the Republicans ran huge deficits to buy economic growth and pay off their rich benefactors through tax cuts. That growth “investment” included lack of appropriate targeting or oversight. The pandemic came along and stimulus was needed to hold the economy together. Now an infrastructure bill would at least partially offset the slowdown inherent in the misguided Republican spending.
White House promotes child tax credit to build legislative momentum for infrastructure: https://www.nbcnews.com/politics/white-house/tax-credit-push-white-house-seeks-infrastructure-momentum-n1271529 . Democrats learned this from the Obama era: actively promote your successes.
Democrats using Congressional Review Act to repeal last-minute regulations from Orange Julius administration: https://thehill.com/homenews/house/559223-house-to-take-big-step-on-eliminating-trump-era-rules .
Today’s voting rights politics: https://thehill.com/homenews/senate/559503-democrats-go-down-to-the-wire-with-manchin . More: https://www.politico.com/news/2021/06/21/manchin-holds-out-until-last-minute-on-elections-vote-495389 . Note that this struggle is about getting the bill to the floor. Manchin presumably realizes that Democrats want Senate Republicans on the record as opposing voting rights. The question is whether a revised package on the substance can satisfy their political needs. Also, Manchin is now getting personal experience on the tremendous current limits on bipartisanship.
Moulton calls for ouster of GOP nuts Gaetz, Greene and Gosar: https://www.msn.com/en-us/news/politics/traitors-rep-moulton-calls-for-greene-gaetz-and-gosar-to-be-ousted-over-fbi-riot-theory/ar-AALfR9F?li=BBnbfcL . I agree that this fact-free trashing of US democracy needs to stop. Recall that Fox News, in a lawsuit based on Tucker Carlson’s conduct, defended itself by saying that no reasonable person would believe Tucker Carlson: https://www.npr.org/2020/09/29/917747123/you-literally-cant-believe-the-facts-tucker-carlson-tells-you-so-say-fox-s-lawye . The time has come when individual and corporate broadcasters of this trash must be held responsible for their actions. These 4 individuals plus Fox are a great place to start.
Will Weisselberg flip?: https://www.msn.com/en-us/news/politics/trump-and-his-cfo-allen-weisselberg-stay-close-as-prosecutors-advance-their-case/ar-AALh30T?li=BBnb7Kz . While Weisselberg is important to the government’s case, it is unlikely that he is indispensable. But if he does not flip, he may be the next prosecution.
Prosecutors also focus on OJ’s bodyguard: https://lawandcrime.com/high-profile/prosecutors-set-their-sights-on-donald-trumps-former-bodyguard-who-has-now-lawyered-up-report/ . Is this a dime novel? Prosecutors are now after a guy named Michael the Squid? What happens when you squeeze lemon juice on this guy? Will he ink a deal with prosecutors? Honestly, how did our politics come to look like The Sopranos? So, maybe Michael will sing … WSJ: More: https://www.wsj.com/articles/donald-trump-bodyguard-matthew-calamari-11624308000 .
WSJ: NCAA losing its grip on student athletes: https://www.wsj.com/articles/after-decades-of-control-the-ncaa-finds-itself-on-its-heels-11624297833 . More: https://www.wsj.com/articles/supreme-court-rejects-ncaas-tight-limits-on-athlete-benefits-compensation-11624285407 . The reality is that major college sports are big business, and the stars (the athletes) are not compensated fairly. The current rules evolved when there was no such thing as television deals. Multimillion dollar annual salaries for coaches and no compensation for multimillion dollar talent makes no sense. This is especially true where an injury in college sports can terminate a career.