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Pinback's Journal
Pinback's Journal
September 20, 2022

No, President Biden, the pandemic is not over (WaPo Editorial Board)

No, President Biden, the pandemic is not over
Washington Post Editorial Board, Sept. 19, 2022
- https://www.washingtonpost.com/opinions/2022/09/19/biden-pandemic-over-60-minutes-wrong/
- https://archive.ph/OBPYo (no-paywall link)

“The pandemic is over” is surely what everyone wanted to hear. President Biden made the declaration in a Sunday “60 Minutes” broadcast. But before rushing out to the ticker-tape parade, sit down. The pandemic is still raging — in the sense that a dangerous virus is infecting, sickening and killing people, mutating to survive and haunting the globe. The pandemic has shifted — and normalcy has returned in many ways — but it is not over.

Why Mr. Biden said otherwise is obvious. The midterm elections are coming, and Americans feel an overwhelming sense of fatigue. “If you notice, no one’s wearing masks,” the president told journalist Scott Pelley. “Everybody seems to be in pretty good shape. And so I think it’s changing.”

No hard-and-fast rules mark the exact moment a pandemic ends. The nation and the world have come a long way since the early lockdowns and the devastating delta and omicron waves. Vaccines against the coronavirus are safe and highly effective, giving people confidence to resume many activities. Classrooms are back in person, air travel has revived, commuter traffic is picking up. A lot of the worst misery is in the rearview mirror.

But the pandemic is surely not over. The seven-day moving average of daily deaths in the United States is nearly 400 and has plateaued at this terrible level since April. The average of new daily cases is 60,000, way higher than in the spring. Weighed down by the virus, average life expectancy of Americans fell in 2020 and 2021, the sharpest two-year decline in nearly 100 years. Covid-19 is the third-leading cause of death in the United States after heart disease and cancer. Long covid — those suffering a constellation of maladies after the immediate symptoms dissipate — threatens millions of people.

More at link: https://www.washingtonpost.com/opinions/2022/09/19/biden-pandemic-over-60-minutes-wrong/

George Washington U. professor Dr. Leana Wen presents an opposing view in this op-ed in the same issue:
Biden is right. The pandemic is over.
- https://archive.ph/IGmrG (no-paywall link)
September 19, 2022

2,700 CBP officers can access the data without a warrant

according to the Washington Post article.

"U.S. government officials are adding data from as many as 10,000 electronic devices each year to a massive database they’ve compiled from cellphones, iPads and computers seized from travelers at the country’s airports, seaports and border crossings, leaders of Customs and Border Protection told congressional staff in a briefing this summer." What could possibly go wrong?

More information:



September 13, 2022

Retirement has many advantages, and some potential pitfalls.

First the pitfalls. One I've noticed a lot is that you can blow a lot of time doing the simplest things. It's common to hear retired people say, "How did I ever have time to work? I can barely get everything done now!" To some extent in my case, that's because I'm older and slower. It's also because as the old saying goes, "Work expands to fill the time allotted to it." So, for example, when deciding on some product to buy, I can easily get sucked into way too much research, whereas when I was working and had very little spare time, I might just drop the hammer and make a decision in 15 minutes because that's all the time I had that evening.

Also, depending on your personality type, you could end up aimlessly drifting at times. Some of this is desirable, at least in the first year or two. It's just so great to be free of the shackles of employment that you may want to revel in being able to sleep late, bum around, and be unproductive. (I sure did, when I could.)

Ultimately, though, you will want to have some feeling of purpose or accomplishment. This can be as simple as planting a garden, or doing some long-postponed home repairs, traveling to places you've wanted to visit for a long time, learn a new skill (or improve an old one), etc. In my case, one of the first things I did was to replace the garage roof. It's kind of crappy looking, to be honest, but it doesn't leak(!) and nobody can see it except the squirrels and birds on the other side of the garage. It was a great project for me because it was a) low risk, b) low cost, and c) completely different from what I'd done for work for many years (fairly stressful corporate desk job).

The advantages of retirement, though -- oh man! One of the main ones is being able to avoid crowds during the day on weekdays. This may or not be a big deal, depending on where you live. I'm in a busy metropolitan area, so being able to go to a grocery store, restaurant, or movie theater while most other poor saps are working or in school is delightful (although I'm sometimes amazed at how many young and middle-aged people buy groceries on a Tuesday morning!).

When I first retired, I would frequently notice what I was missing at work. (“Oh, man! It’s 10:00 on Monday morning and I’m NOT in a staff meeting! Ahhhhhh...”)

I also took extreme pleasure in doing exactly what I wanted during what used to be work hours. I’ll never forget the absolute bliss of just wandering around my local public library at 2 p.m. on a weekday, randomly browsing and sitting down with a book to learn about something I never thought would interest me. I also spent a lot of time biking to local coffee shops where I could chill and browse the web, write down some thoughts, enjoy the morning sun, or whatever.

Eventually, that initial feeling of getting away with something has subsided, and I don't think about work much any more. (And my dreams are much more creative and much less stressful than they used to be when I was working, which is great!)

Over the upcoming few months, I look forward to more of the things I haven’t felt comfortable doing the past couple of years due to COVID: in-person volunteer work, extensive traveling, and frequent indoor dining to name just a few.

You are also retiring at a great time. Two years after I retired, COVID hit, and many things either ground to a halt or had to be considered very carefully. I still haven't been able to take full advantage of retirement due to having to be extra-careful since Spring 2020. But you're entering your years of freedom as the pandemic is in a much better place.

Congratulations, and enjoy yourself. You've earned it!

August 15, 2022

The Crypto Geniuses Who Vaporized a Trillion Dollars

Everyone trusted the two guys at Three Arrows Capital. They knew what they were doing — right?
By Jen Wieczner, New York Magazine Intelligencer, Aug. 15, 2022

The boat was a beauty of a thing: some 500 tons across 171 feet of glass and steel as white as Santorini. All rounded edges, the five decks — one with a glass-bottom pool — were made for July on the Mediterranean, sunset dinners among the islands near Sicily, cocktails in the turquoise shallows off the coast of Ibiza. Her would-be captains showed off pictures of the $50 million vessel at parties, bragging that it would be “bigger than all of the richest billionaires’ yachts in Singapore” and describing plans to adorn the staterooms with projector screens, creating a waterborne gallery for their growing collection of digital art in the form of NFTs.

No matter that they had originally told friends they were shopping for a $150 million vessel; the superyacht was still the largest by well-established boat builder Sanlorenzo ever to be sold in Asia, a triumph of crypto’s nouveau riche. “It represents the beginning of a fascinating journey,” the yacht broker said in an announcement of the sale last year, saying it looked “forward to witnessing many happy moments aboard.” The name the buyers had in mind was cleverly chosen — an inside joke nodding to the cryptocurrency dogecoin that would both thrill their social-media acolytes and be intelligible to all the pathetic, poor “no coiners” out there: Much Wow.

Her buyers, Su Zhu and Kyle Davies, two Andover graduates who ran a Singapore-based crypto hedge fund called Three Arrows Capital, never got the chance to spray Champagne across Much Wow’s bow. Instead, in July, the same month the boat was set to launch, the duo filed for bankruptcy and disappeared before making their final payment, marooning the unclaimed trophy in her berth in La Spezia on the Italian coast. While she has not been officially listed for resale, the intimate world of international super-yacht dealers has quietly been put on notice that a certain Sanlorenzo 52Steel, the coveted Cayman Islands flag billowing above her empty balconies, is back on the market. (emphasis mine - Pinback)

The yacht has since become the subject of endless memes and jokes on Twitter, the functional center of the crypto universe. Pretty much everyone in that world, from the millions of small-scale crypto holders to industry employees and investors, has watched in shock and dismay as Three Arrows Capital, once perhaps the most highly regarded investment fund in a burgeoning global financial sector, collapsed in excruciating and embarrassing fashion. The firm’s implosion, a result of both recklessness and likely criminal misconduct, set off a contagion that not only forced a historic sell-off in bitcoin and its ilk but also wiped out a wide swath of the cryptocurrency industry.

- More at link: https://nymag.com/intelligencer/article/three-arrows-capital-kyle-davies-su-zhu-crash.html


- The Much Wow, a 52Steel yacht by Sanlorenzo
August 3, 2022

Social Security is poverty insurance.

All American workers pay premiums so that all beneficiaries will have at least some measure of economic security into old age.

Libertarian/Republican Me-Firsters don't see it this way, of course. They also tend to delude themselves when it comes to their own investing prowess, thinking they can beat average market returns, avoid stupid mistakes, and so on.

Social Security — and pensions (R.I.P., for most American workers) — help insulate against financial calamity. But insuring a decent quality of life for all Americans is of little interest to Libertarians and Republicans.

I personally could probably get by just fine without Social Security, thanks to good fortune and a reasonable balance of risk and restraint in my investments. And, knowing what I know now, as my 40+ years of work life are in the rearview mirror, I might have been able to equal the "returns" of Social Security by investing those premiums myself. But that's truly beside the point. Focusing only on my personal security is a pretty myopic, lame way of evaluating the viability of such a program.

I'll have a greater degree of comfort once my Social Security benefits start rolling in, but for others, it's the difference between real poverty and a manageable standard of living.

All this falls on deaf conservative ears, of course. That's why the rest of us can never waver in our advocacy for Social Security.

August 3, 2022

"Marcel" - Disasterpeace

July 13, 2022

Never forget.



https://www.mercurynews.com/2018/07/05/gop-senators-mocked-for-spending-july-4-in-russia/

This is not The Onion: Eight members of Congress, all Republicans, spent America's Independence Day in Russia.

Seven senators — John Kennedy (R-LA), Richard Shelby (R-AL), Steve Daines (R-MT), John Hoeven (R-ND), John Thune (R-SD), Jerry Moran (R-KS), and Ron Johnson (R-WI) — and one House member, Kay Granger (R-TX), are all in Moscow over the Fourth of July holiday this week for talks with Russian lawmakers and officials, according to reporting from the Washington Post, NPR, and investigative reporter Julia Davis.

This news is shocking for a number of reasons.

First of all ... it was the Fourth of July, for crying out loud. On a day where America celebrates its independence from tyranny and the establishment of its democracy, Republicans broke with precedent to meet with a tyrannical regime that tried to undermine American democracy by meddling in the 2016 elections.

Secondly, this week marks the first time in four years that a U.S. congressional delegation has gone to Moscow, and the first time since Russia annexed Crimea, which set off a firestorm of international criticism and led the U.S. to impose sanctions on Russia. Recently, however, Trump has suggested that Russia should not be punished for its illegal annexation.

Third, you might think it makes sense to send U.S. lawmakers to Russia in order to pave the way for Trump's scheduled summit with Putin on July 16. But as NPR reports, this trip was actually planned before the summit was announced.

- American Independent, July 5, 2018:
https://americanindependent.com/republicans-congress-celebrated-fourth-of-july-russia/

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