Economic Recovery Post-Wuhan Virus

Paul Hannon and Saabira Chaudhuri wonder, in their Wall Street Journal piece, whether we’ll have the V-shaped recovery that President Donald Trump confidently predicts, or whether we’ll have a swoosh-shaped recovery a la the Panic of 2008 recovery. They don’t, though, seem to recognize key differences between the two situations, beginning with the underlying causes of the two dislocations.

The Panic was driven by economics: a credit crunch. The present situation is created by a Government-mandated closure of our economy in response to the rapid spread of the Wuhan Virus and its perceived danger; economics has nothing to do with it.

The Ugliness of the Progressive-Democrat Patriarchy

Progressive-Democratic Party Presidential candidate Joe Biden has spoken. That’s the end of the story. Senate Minority Leader Chuck Schumer (D, NY) has patted Tara Reade on her pretty little head, said “There, there,” and announced that

Now I’ve heard Joe Biden’s explanation. I think it’s sufficient[.]

The grande dame of the Progressive-Democratic Party, California Senator Dianne Feinstein, is on board, too.

I don’t know this person at all who has made the allegations. She [Tara Reade] came out of nowhere. Where has she been all these years? He was vice president.

Reducing Investments

The Federal government is leading by example in withdrawing taxpayer dollars from People’s Republic of China businesses.

National Economic Council Director Larry Kudlow and National Security Adviser Robert O’Brien have sent a letter (which was up on Scribd, but which has since been removed) to Labor Secretary Eugene Scalia instructing him to not allow Federal retirement funds—taxpayer dollars—to be invested in shares of stock in PRC businesses.

Scalia then relayed those instructions to Michael Kennedy, Federal Retirement Thrift Investment Board Chairman. Scalia instructed Kennedy to reverse the board’s decision to move the TSP’s International Stock Index Investment Fund investments to match an international index that would explicitly include PRC companies in the mix.

Off-Books Lending in the People’s Republic of China

The People’s Republic of China may be approaching a problem with off-books lending as its economy—restarting though it is—still is stumbling badly, which coupled with the government’s attempts to rein in debt creation generally, is making it difficult for businesses and individuals to obtain credit.

Off-balance-sheet entities are selling bonds to finance projects such as investing in warehouses, expanding underground metro networks, building data centers or renovating shantytowns.

Such debts, though, afford government at any level little direct oversight—which the PRC government levels especially desire—and they have often fed wasteful spending.

And

Economic Reopening, Resistance, and Perspective

As States reopen for business, and as increasing numbers of businesses reopen and customers patronize them against State government encouragements or outright diktats to the contrary, Progressive-Democratic Party Presidential candidate Joe Biden is nattering on that President Donald Trump’s policies are undermining the core pillars of our economic strength. In the meantime, the NLMSM is focusing ghoulishly on body counts and not mentioning any other relevant information.

The following table looks at some data for three States mentioned in one Wall Street Journal article, another State mentioned in a different WSJ article, and two States mentioned by Fox News.

Credibility

As the journalism guild’s complicity in the General Michael Flynn travesty becomes steadily more apparent, some questions arise—again—about what an honest journalism industry (not guild—that’s beyond redemption) needs to do to have any credibility.

  1. identify at least some the sources, rather than hanging an article’s thesis exclusively on the claims of anonymous sources
  2. if an anonymous source refuses to be identified, show with concrete, measurable evidence the following:
    1. the source actually exists
    2. if the source exists, then
      1. why the source should be believed, given that by speaking publicly, even if anonymously, he’s likely violating his terms of employment if not his oath of office

Finally, Some Recognition

…of the role of Federal laws in State activities. Recall that two New Jersey officials of then-Governor Chris Christie’s (R) administration were convicted in Federal court for

hav[ing] participated in a 2013 scheme to create traffic backups in Fort Lee, NJ, by limiting motorists’ access to the George Washington Bridge that crosses into New York—in retaliation against Fort Lee’s Democratic mayor, Mark Sokolich, for not supporting the re-election bid of Mr Christie, a Republican.

The Supreme Court, unanimously, tossed those convictions. The unanimity of the throwing out is made the more noteworthy by this money quote, by none other than Justice Elena Kagan, who wroteg for the Court:

It’s a Start

But it can’t possibly be the final answer; it doesn’t go nearly far enough. Education Secretary Betsy DeVos has issued the final rule regarding college/university sexual harassment complaints and how colleges/universities must handle them. Along the way, DeVos revoked with finality the Obama DoEd rule that eliminated the rights of the accused.

It allows both the accused and accuser to submit evidence and participate in cross-examination in live proceedings, and both parties can also appeal a school’s ruling. Victims-rights advocates say the provision for cross-examinations could traumatize those alleging misconduct and potentially keep them from filing complaints at all.
It also allows institutions to choose one of two standards of evidence—”clear and convincing,” or the lower “preponderance of the evidence,” which just requires a greater than 50% likelihood of wrongdoing—as long as they apply the standard evenly for all cases

A First Amendment Case

Oral argument on a 1st Amendment case was heard by the Supreme Court last Wednesday. The case centers on

whether or not a 1991 law that protects people from receiving unwarranted telemarketer calls is a violation of the First Amendment when applied to political organizations.

This strikes me as a no-brainer that never should have gotten out of any District court. The 1st Amendment bars the abridgment of political speech in the public square. It does not take away the right of private citizens to decide for themselves what speech they will hear from within their own, private property.

Education Standards

A St Paul, MN, public schools educator helping teachers decried insistence that consistent standards be applied to students and their school performance.

A child living in poverty with a single, working parent, little support, marginal technology, and a spotty Wi-Fi connection cannot be held to the same standard as a child of a well-educated family, whose parents are working from home, with ample technological devices, high-speed connectivity and support.

Of course, he can. The child either has mastered the material and is qualified to move on, or he has not. An honestly assigned grade is an index of the level of mastery.