Wednesday, October 19, 2022

The COVID-19 emergency continues to Jan 11 despite Biden saying the pandemic's over in September on 60 Minutes: They keep kicking the can down the road to avoid implications for vaccines

 The FDA would have to use the normal process for approving the vaccines, and based on the corners cut to get the vaccines to market, that looks unlikely.

Furthermore, removal of the emergency authorizations would then expose the manufacturers to lawsuits.

I agree with the guy in the last paragraph below.

Expect indefinite emergency use authorization, at least until Republicans take over the federal government in 2025.

The FDA’s ability to issue emergency authorizations for vaccines, drugs and medical devices would not necessarily end when the Covid public health emergency is lifted. These authorizations rely on a separate determination made by the U.S. health secretary under the law that governs the FDA.

But it could become increasingly difficult for HHS and FDA to justify clearing vaccines and treatments through an expedited process that shortcuts the normal system of approval when the emergency declaration is no longer in place.

Trump administration Health Secretary Alex Azar activated the FDA’s emergency authorization powers in March 2020, about two months after first declaring the public health emergency.

“It could affect emergency use authorization, where you couldn’t give these EUAs and so the FDA would have to fully approve the drug,” Gostin said. “It could have enormous knock-on effects that need to be very carefully thought through,” he said of ending the public health emergency.

But James Hodge, an expert on public health law at Arizona State University, said the PREP Act declaration that supports Covid vaccinations at pharmacies and the FDA’s power to grant emergency use authorizations will probably remain in place for years to come.

More.

The economy looks pretty damn good . . . to the inflation profiteers!

 

Not flying at all is my way of fat-shaming people

Hey look, Biden throws another last minute Hail Mary to buy votes with less than 3 weeks to Election 2022!

 

 
Biden has cut the emergency reserve from 33 days supply to 20 days, with more cuts to come. 

"Wouldn't be prudent". -- Bush 41
 
 

 


Hey look, another inflation trade!

Fewer units sold at higher prices yields . . . profits!

We are at the bottom of this food money chain.

Tuesday, October 18, 2022

Jay Powell is only appearing to be serious about battling inflation


 The only thing Jay is doing about inflation is making sure everyone thinks he's doing something about it, while making sure there remains plenty of spread for his pals to trade off it.

Currently the spread is 5.12: Inflation at 8.2 minus an effective funds rate of 3.08. This is a golden opportunity for the banksters and everyone down the food chain until it reaches you. The banks are getting rich off it. Wall Street is getting rich off it. Corporations are getting rich off it. And, of course, the stock market investor parasites are getting rich off it.

You get left holding the bag of all the price increases jacked up under the guise of the general condition.

 

 

 

Three years ago there was no spread: -0.03. Nothing there to exploit.

The banksters LOVE LOVE LOVE this inflation:

Bank of America said Monday that quarterly profit . . . topped expectations on better-than-expected fixed income trading and gains in interest income . . . third-quarter profit fell 8% to $7.1 billion.

The bond market is not happy.

In Rama a voice is heard, lamentation, weeping, and great mourning . . ..



I would like to come back as the bond market . . . You can intimidate everybody

 Yippee-ki-yay.

 


 

Long US Treasury and Investment Grade bonds both made new 52-week lows again last night

Yippee-ki-yay.

 



Bond vigilantes be like . . .

 Yippee-ki-yay, motherfucker.

 



Monday, October 17, 2022

Through Oct 14 the traditional 60/40 401k portfolio is down a net 21% in 2022, not counting inflation

 Bonds are supposed to perform well as the safe haven asset when stocks fall, reducing the net impact to the portfolio when equities decline.

But not this year!

Bonds have actually crashed on the long end, down even more than stocks, as stocks entered a bear market.

The bond crash is a market statement rebuking the spending those bonds have represented: Not enough return for the risk.

So far the spendthrift Congress remains tone-deaf, leaving it to the Fed to raise interest rates . . . ever so feebly.

No one in his right mind believes raising interest rates 300 basis points is going to have much impact on inflation raging at 800 basis points.