House Relief Bill

Here’s what’s in the House “relief” bill, written in House Speaker Nancy Pelosi’s (D, CA) kitchen where she could have ready access to her special ice cream. The bill was written with zero Republican input, zero Republican amendments, carefully limited debate on the House floor, and passed almost entirely along party lines; although the bill did make 14 Progressive-Democrats choke to the point of voting against it, and one Republican was too timid to oppose it.

  • $1 trillion in funding for state and local governments

Time for a New Plan

That’s what Dr Marty Makary, Professor of Surgery at Johns Hopkins Medicine, says.  Broad lockdowns might have been justified at the outset of the present Wuhan Virus situation, but new information has arisen.

Since that time, we have data that has taught us that this infection is associated with public transit, with density, with mass gatherings, with city-to-city travel and it is associated with climate[.]

And

What we do know, [is that] there are safe ways to conduct activities in society if we use certain precautions and we probably need a targeted approach where we find areas where there is either an outbreak or an ongoing increase in cases, and use some of the more aggressive strategies in that particular location.

Trade Needs

In an article about, among other things, the People’s Republic of China’s attempt to extort Australia into sitting down and shutting up about the PRC’s role in the Wuhan Virus’ spread across Earth, David Thomas, a consultant who for several decades has advised Australian businesses on investing in the PRC, said this:

The world is going to need China’s capital, manufacturing, and consumption power when this is all over.

That’s so wrong it’s foolish. We’re discovering that now, and after the Wuhan Virus situation has been dealt with from medical and economic perspectives, that we can’t afford to be very economically involved in the PRC.

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.

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.

Control of the Internet

ICANN (Internet Corporation for Assigned Names and Numbers) is the American manager of Internet domains and Domain Name Service under contract to the Internet Assigned Numbers Authority, the globally agreed agency responsible for the global Internet. It had been about to sell the Internet domain .org to a private enterprise.

The .org registry is a database of more than ten million websites managed since 2003 by the nonprofit Internet Society. The group decided .org could be better served by a company that could invest returns back into the service.

The sale would have been for $1.1 billion, which ICANN could have put to good use, too.

Biden is Tough on the PRC

Progressive-Democratic Party Presidential candidate Joe Biden says so. And he’s actually going to run on that thesis.

However.

Leaving aside Hunter’s profiteering on Daddy’s coattails in the People’s Republic of China—that’s just the scummy topping on the gruel—Biden’s track record in dealing with the PRC as Senator and as Vice President is one of failure after failure to get, even to try to get, balanced trade deals and even-handed treatment of American companies wanting to do business inside the PRC.

A Supreme Court Error

No, I’m not talking about the Court’s cowardice on gun rights. This one concerns the Court’s nearly unanimous decision regarding any Congress’ ability to undo what a prior Congress has done and the Executive Branch’s obligation to spend money that hasn’t been appropriated.

The Court upheld health coverage providers’ demand, under Maine Community Health Options v US for

payments to health insurers for so-called risk corridors in ObamaCare’s first three years[.]

Never mind that the 112th Congress, in 2010, undid what the prior 111th Congress had done and both refused to appropriate funds for those “risk corridors” and explicitly forbade the Executive Branch from making any risk corridor payments from other funds.

Overseeing PRC Telecomm

The Senate has started looking into tightening oversight of People’s Republic of China telecomms that are operating in the US.

In a forthcoming report, the Senate Permanent Subcommittee on Investigations will level sharp criticism at a group of telecom regulators for failing to scrutinize the Chinese companies and the way they handle data going back nearly two decades. Senate investigators who briefed The Wall Street Journal on their findings said that without proper oversight the Chinese companies “present an unacceptable amount of risk.”

It’s a start.