Whose Inheritance Is It?

A son wrote to The Moneyist, worried that because he makes so much more than his siblings and freely lives like it he’ll be cut out of his parents’ will. He closed his letter with this paragraph, and Quentin Fottrell seems to have made a meal out the distraction contained in it, instead of giving the short and sweet answer that the question needed.

My siblings don’t make nearly as much as me. They’d say I’m crass or rude for saying that. I’m concerned that my parents are going to strike me from any will/inheritance. If siblings earn different amounts, should that be the primary driver for how much they should get?

Fottrell opened with most of the right answer.

Your parents can divide their estate as they see fit.

Unfortunately, he went on to talk about siblings being differentially poorly- (or well-) off, and so the lesser well-off can receive a larger slice of their parents’ pie. He then proceeded to suggest, over several paragraphs, that the letter-writer’s arrogance and self-importance could well play a role in any parental inheritance decision. Never mind that Fottrell had no evidence in the letter that that played a role, although the letter-writer seems to have made no effort to hide his financial success under a bushel.

Fottrell would have done well to end his response with that opening sentence. He would have done better to add this short bit to that opening: the estate, the inheritance, is the parents’ money and assets and no one else’s. It’s their property to do with as they see fit, and no one else has any claim on it, whether child, parental sibling, or stranger. Parents have no intrinsic duty to leave their money, their assets, to anyone in particular, and they can leave it to no one at all and let the State sort it out.

Full stop.

“The Path Forward”

Progressive-Democrat Senate Minority Leader Chuck Schumer (D, NY) is insisting that Republicans are to blame for the ongoing government shutdown.

Republican leadership chose a path they knew would lead to a government shutdown and so far have refused to negotiate a bipartisan deal that would address the healthcare crisis, and find a path forward to reopen the government.

In fact, the Progressive-Democrats guaranteed the shutdown from the start, as confirmed ex post facto, with the House Minority Whip Katherine Clark (D, MA) bragging that suffering families are the Progressive-Democrats’ leverage, Rhode Island Progressive-Democrat Senator Sheldon Whitehouse saying the shutdown is “the only lever we have,” and Schumer bragging that the longer the shutdown continues, the better it is for Democrats.

The Progressive-Democrats claim that they want to negotiate Obamacare subsidy extensions as a condition to their voting to reopen the government. However, it’s their intransigence that’s preventing those discussions from occurring, as they know full well.

The path forward is pretty straightforward. To paraphrase someone, the path forward to reopen the government is to vote to reopen the government. The Republicans have done that. The Progressive-Democrats refuse to do that.

Negotiating with Canadian Politicians

Ontario Premier Doug Ford ran an ad pushing back on President Donald Trump’s (R) Canadian tariffs that deliberately, cynically, and dishonestly took sentences out of a Ronald Reagan speech and remixed them, shorn of their original context, into Doug Ford screed against Trump and those tariffs. This is the same Ontario Premier who earlier in the year, when trade negotiations with Canada were just getting underway, threatened to terminate the province’s energy shipments to the US.

In response to the Ford ad, Trump, last Thursday, called a halt to negotiations with Canada over trade. The Wall Street Journal‘s news writer mischaracterized the situation:

Trump threw the economic relationship with Canada into a tailspin late Thursday….

The news writer is no better than the Canadian provincial premier. Ford had thrown the economic relationship into a tailspin with his dishonestly distortionate ad; Trump was merely responding to the smear. Through his spokesperson, Kush Desai, Trump said,

Further talks are a futile effort if Canada can’t be serious.

After that, Ford said he’d “pause” his ad campaign effective today (Monday). He first ran his ad misquoting Reagan ‘way back on 16 October, fully a week before Trump acted. Now he’s magnanimously agreeing to “pause” his ad campaign after it’s run an additional four days. There’s no reason Ford couldn’t pull his distorting campaign last Thursday, whether “pausing” it or terminating it.

Trump is being uncharacteristically polite. Further talks with Canada are futile if Canadian senior politicians are going to lie about the situation.

A Medical Man Demands Slow Approvals

In his letter to The Wall Street Journal‘s Letters section, Todd Lorenz, a Stanford University employee degreed as a Medical Doctor, pushed for FDA to continue to pass on the efficacy of a new drug as a condition for approving it, never minding that that would drastically slow approval and subsequent availability.

There is no way to know for certain if drugs work without doing efficacy studies in humans. Preclinical and animal studies, while helpful, can’t predict with confidence which drugs will be useful. Most investigational cancer drugs that go into the clinic have been shown to work in animal models. Most don’t work in patients.

In a truly competitive free market, those that don’t work won’t stay in the market for long. Delaying approval until efficacy can be “proven,” though, denies cancer patients access to those drugs that do work, unnecessarily—unconscionably—risking their lives. Lorenz closed with this:

The answer, then, is to approve drugs after they’ve been demonstrated to be safe. Yet no drug is completely safe; some can lead to substantial adverse reactions. It may be acceptable to prescribe drugs with such profiles if the diseases they are intended to treat are serious enough to warrant the risk. The choice to use any drug in a particular patient always depends on such a cost-benefit analysis. Without an objective assessment of efficacy, no such determination is possible.

No drug is ever completely efficacious, either. Even so, Lorenz contradicted his call for a cost-benefit analysis with that repeated demand for an objective assessment of efficacy. He ignores the simple fact that that cost-benefit analysis is best done—is most effectively done—by the patient and his doctor, not by Government. The benefits and costs of a particular drug treatment can only be assessed empirically by those two critical analyzers acting in a medical drug market that is competitively fed by safe drugs. Those empirically collected use and outcome data will determine efficacy, and they will do so far faster and far more thoroughly than can a government agency populated by bureaucrats who happen to have medical degrees of one sort or another, and who hold out for repeated trials with sample sizes that are miniscule relative to the target population, even if those sample sizes argued to be statistically significant.

UCLA Emeritus Professor James Meyer, also the proud possessor of a degree as a Medical Doctor, complemented Lorenz with his own non sequitur.

Messrs Hooper and Steiner [Deregulation Can Make Medications Cheaper] argue that the cost of new drugs could be greatly reduced if the FDA focused only on their safety. Maybe so. But this overlooks that the federal government has had a major and increasing interest in efficacy since the passage of Medicare (1965), the growing responsibility for veteran care since the Vietnam War (1965) and the passage of ObamaCare (2010).

You bet it does. Those agencies have burgeoning populations of bureaucrats to keep employed and to keep expanding. Never mind that bit about denying access to safe drugs by those who need them until a collection of bureaucrats gets around to approving “efficacy.”

Sometimes….

The subheadline laid out the concern and the potential for misunderstanding:

Attacks in Caribbean, aid cuts for Colombia and pressure on Venezuela blur lines between counternarcotics and regime change

When illegal narcotics are a nation’s major, if not primary, product, and that nation’s primary source of income is smuggling and peddling illegal narcotics, and especially if that nation’s illegal narcotics are killing so many of our children and young adults, then regime change becomes a necessary tool of counternarcotic operations.

The US does poorly at nation-building, which must follow—by someone—regime change. We were successful with Germany, Italy, and Japan after WWII, but our record is very weak since then. Still, sometimes regime change is necessary, and this one, should it come to pass, will need the follow-on very carefully monitored—and guided, if the wrong builders show up.