Progressive-Democrats and the Law

And contracts.  Since the SARS epidemic of some years ago, insurers have declined to cover losses related to virus or bacteria damage, and they wrote their policies to that effect. State regulators—who controlled and still control the structure of insurance policies and the premiums allowed to be charged for those policies outside Obamacare—agreed.

However.

New Jersey Assemblyman Roy Freiman, a Democrat, introduced a bill that would retroactively rewrite interruption coverage contracts and force insurers to foot some losses for any policyholder with fewer than 100 full-time employees.

Contracts be damned. They don’t fit the Progressive-Democrat agenda, so by Progressive-Democrat-run Government fiat, they must be tossed.

FDA’s Drug Approvals

Charles Hooper and David Henderson are on the right track.

The Federal government requires pharmaceutical companies to prove that their drugs are both safe and effective before putting them on the market. Before 1962, companies needed to prove only safety. While there is some appeal to this two-hurdle approach, evidence suggests that there is only a slight benefit and a tremendous cost. With the COVID-19 pandemic sweeping the world, there has never been a better time to revoke the Food and Drug Administration’s efficacy requirement.

Government Ownership of Private Companies

There is a move afloat that, as part of a (supposedly) temporary support measure during the current Wuhan Virus situation, the Federal government should inject money into troubled businesses by taking equity stakes—buying shares of stocks—in them.

As The Wall Street Journal pointed out, that’s a bad idea, and it illustrated the dangers by describing the failure of Japan’s moves in this regard.

As it happens, we have a domestic example of the dangers of governments buying private company stocks: CALPERS. That huge (State) government pension fund has, for all the best reasons, invested in a broad range of American companies, and it has invested in some of them heavily.

Progressive-Democrats and Crises

We’re seeing their execution of Rahm Emanuel’s theory in spades these days.  The Republican-majority Senate has a proposal in the Senate, agreed in bipartisan fashion with Progressive-Democrat Senators that would aid average Americans and the small, medium, and large businesses—including our farmers and ranchers—weather the government-mandated shutdown of our economy in response to the present Wuhan Virus situation.

The bill would provide loans to businesses to help tide them over the current loss of revenue—many of the loans converted to grants if the businesses retain their employees on the payrolls.

A Start

But we need to go further.  Recall that an official of the Communist Party of China threatened to cut off US access to life-savings medicines that are manufactured in the People’s Republic of China [Bing Translate translation from the Xinhua publication].

If China retaliates against the United States at this time, in addition to announcing the travel ban on the United States, it also announced the strategic control of medical products and the ban on exports to the United States, then the United States will fall into the ocean of new crown [corona] viruses.

A Lesson Learned?

Our pharmaceutical companies have decided to bring back to the US some critical drug production capabilities in view of the People’s Republic of China’s current role in that manufacturing supply chain, the interference the Wuhan virus has caused in the PRC’s ability to produce those critical intermediates, and the separate threat of some ranking PRC officials to cut us off from those intermediates.

A Misstatement of the Case

Gerald Seib opened his Monday Wall Street Journal piece with this bit:

…Americans have learned they can’t really count on Washington to deal with this crisis for them. Local leaders, businesses, churches, sports leagues—all have taken up the task, and done so more effectively than the political leadership in Washington.

That’s as it should be. Responsibility is individual, personal; we cannot wish any of that off onto others, much less government. All government can do—and it should do this much—is help us satisfy our own obligations.

Nationalizing our Economy

A city mayor wants the Federal government to nationalize critical parts of our economy.

New York City Mayor Bill de Blasio is arguing that the best way to tackle the coronavirus outbreak is for the federal government to take over critical private companies in the medical field and have them running 24 hours a day.

“This is a case for a nationalization, literally a nationalization, of crucial factories and industries that could produce the medical supplies to prepare this country for what we need,” de Blasio told MSNBC‘s Joy Reid on Saturday, calling for “24/7 shifts” during what he called a “war-like situation.”

Biden and the Sanders Supporters

In the end game of the Progressive-Democratic Party’s Presidential primary contest—and, yes, at this stage, Party is down to three contestants, with Party’s elite choosing to freeze Congresswoman Tulsi Gabbard (D, HI) out of the contest, she being too willing to speak freely and honestly and too far behind for her axis of approach to counter Senator Bernie Sanders’ (I, VT), the end game is on us—the question arises whether Joe Biden, front runner, can win over Sanders’ supporters, who are every bit as ardent and critically large in number as the NLMSM makes them out to be. Those supporters, after all, will be critical in the general election if Biden is to be electable in the general election.

A Speculation on Oil

I have one of my own, against the backdrop of the oil production and price war just begun between Saudi Arabia and Russia.

The Saudis, dismayed over Russia’s refusal to go along with a proposal to further reduce oil production in the face of declining economic demand that’s potentiated by the coronavirus affair, have announced an increase in oil production.  Russia has responded with a “we can do that, too” threat.

The increase by the one (to begin 1 April) and the threat to match by the other have sent oil prices into the low $30s per barrel with projections into the mid-$20s.  Both nations claim they can afford these prices for the next few years before they exhaust their financial reserves.