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Goldman Sachs: These 3 Stocks Are Poised to Soar by at Least 30%

Goldman Sachs: These 3 Stocks Are Poised to Soar by at Least 30%

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Once again, stocks have delivered an upset. Despite the havoc wreaked by COVID-19 during the second quarter, corporate profits have generally been better-than-expected. So far, 88% of S&P 500-listed companies have reported earnings results, and of these, 58% have exceeded expectations “by more than a standard deviation of estimates,” according to Goldman Sachs strategist David Kostin.

Sure, Kostin notes the bar was set “extremely low,” but the results do warrant an estimate revision to the upside. To this end, the strategist now forecasts 2020 S&P 500 EPS of $130, up from $115, with this call still landing 21% below 2019 earnings. On top of this, Kostin believes that in 2021, EPS for the index could hit $170, which is above the consensus estimate and would reflect a 30% gain from 2020.

Taking this into consideration, we took another look at three stocks Goldman Sachs is bullish on, with the firm’s analysts projecting at least 30%-worth of upside potential for each. After running the tickers through TipRanks’ database, we found out that all three have also received Buy ratings from other Street analysts as well.  

Axcella Health Inc. (AXLA)

We’ll start off with Axcella Health, which applies a unique approach involving Endogenous Metabolic Modulators (EMMs) to treating complex diseases and supporting health. Following the release of promising data for one of its candidates, Goldman Sachs is pounding the table on this healthcare name.

AXLA recently published positive topline data for its therapy, AXA1665, in patients with mild/moderate hepatic insufficiency. In the study, AXA1665 was able to produce an improvement in neurocognitive function, amino acid metabolism, ammonia handling and muscle structure/function.

Goldman Sachs’ Paul Choi does acknowledge that the study was on the smaller side and was meant to evaluate safety and tolerability, but points out “it also demonstrated a sustained and dose dependent improvement in the Fischer Ratio (FR) that indicates improvement in amino acid metabolism in spite of additional nitrogen.” It should be noted that low FR is associated with poor clinical outcomes and mortality in patients with end-stage liver disease.

“Moreover, we highlight dose-dependent improvement in three separate measures of cognitive function (PHES, Stroop EncephalApp, and critical flicker frequency),” Choi added. If that wasn’t enough, consistent with other AXAs being developed, AXA1665 “was well-tolerated with most adverse events mild/moderate and not associated with study drug.”

What does all of the data mean? Choi explained, “This evidence of multifactorial activity and safety in patients treated with AXA1665 supports AXLA’s plans to initiate a Phase 2 study of AXA1665 in patients with advanced liver disease following greater than one prior overt hepatic encepolapathy (OHE) event, a more severe population compared to today’s data.”

Adding to the good news, the company’s plans are on track for the Phase 2b study of AXA1125 in adult NASH, which is expected in 1H21 pending an agreement with the FDA. A full AXA1125-003 data readout could come this quarter at the Digital International Liver Congress (EASL). Topline data from Cohort 1 of its study of AXA4010 in patients with sickle cell disease is slated for release in Q4 2020.

Based on all of the above, Choi rates AXLA a Buy along with a $9 price target. This figure implies shares could jump 72% in the year ahead. (To watch Choi’s track record, click here)

It’s not often that the analysts all agree on a stock, so when it does happen, take note. AXLA’s Strong Buy consensus rating is based on a unanimous 5 Buys. The stock’s $17.60 average price target suggests a whopping 235% upside from the current share price of $17.60. (See AXLA stock analysis on TipRanks)

Sarepta Therapeutics (SRPT)

The next stock on our list, Sarepta Therapeutics, has already brought two products to market (Exonyds 51 and Vyondys 53) for Duchenne muscular dystrophy (DMD). With it also boasting a solid development pipeline, it’s no wonder Goldman Sachs gives the company a thumbs up.   

Looking at Exonyds 51 and Vyondys 53, Q2 2020 net product sales came in at $111.3 million, beating the Street’s expectation. Even though SRPT didn’t provide individual product revenue, management stated that the pandemic has had a relatively limited impact as 85-90% of patients are receiving home infusions. It should also be noted that the supply chain is very much intact, and the company has completed its rolling NDA submission for casimersen, with the PDUFA slated for Q1 2021.

Turning now to its candidates in clinical development, Goldman Sachs’ Salveen Richter tells clients that in line with her expectations, SRPT successfully completed GMP runs for SRP-9001, its DMD micro-dystrophin gene therapy, using the commercial process.

“With commercial drug material in hand, SRPT is on track to initiate the pivotal commercial supply trial (study 301) in 2H20. In order for the trial to begin, SRPT must now: (1) engage with clinical trial sites and obtain IRB approvals (note potential COVID-19 delays at trial sites); and (2) gain alignment with the FDA on using the GMP material (expected to occur in Q3 2020). We note SRPT also plans to use this time with the agency to seek concurrence on the use of material for a non-ambulatory study,” the five-star analyst stated.  

On top of this, the initial data readout for the Phase 2 placebo-controlled DMD gene therapy trial (study 102) using Nationwide’s clinical-grade drug product is on track for Q1 2021, reflecting a potential catalyst, according to Richter. She added, “At this time, SRPT expects to have three-month biopsy expression data from the commercial supply trial (study 301) to serve as the basis of comparability (a key event) to support BLA filing.”

After impressive data from the Phase 1/2 SRP-9003 trial in limb-girdle muscular dystrophy type 2E (LGMD2E) was released, Richter added the program to the firm’s model, giving it a 75% probability of success, in line with DMD gene therapy. She estimates global peak sales of $750 million.

Expounding on this, the analyst commented, “The two gating items for the LGMD2E program include: (1) completing assay development and obtaining the release of GMP material (expected by YE20); and (2) completing a dialogue with the FDA on the appropriate regulatory and development pathway forward. Note, the latter will also provide insight into the development pathway for SRPT’s other five LGMD candidates.”

While DMD gene therapy remains Richter’s focus, she is also looking forward to “initial Ph2 MOMENTUM SRP-5051 (PPMO) dosing and safety data (2H20), where we see potential for the platform to cannibalize the existing PMO franchise (and note opportunities outside of DMD and muscle diseases exist).”

All of the above keeps Richter with the bulls. As a result, the analyst continues to assign a Buy rating to the stock along with a $209 price target. Should her thesis play out, a potential twelve-month gain of 32% could be in the cards. (To watch Richter’s track record, click here

In general, other analysts are also optimistic about the drug maker. SRPT's Strong Buy consensus rating breaks down into 14 Buys and a single Hold. The $197.15 average price target puts the upside potential at nearly 25%. (See Sarepta stock analysis on TipRanks)

ADT Inc. (ADT)

Offering security, fire protection and other alarm monitoring products and services, ADT helps people all over the U.S. protect their homes and businesses. Given its solid Q2 performance and the potential tailwinds, this company has earned the coveted Goldman Sachs stamp of approval.

Analyst George Tong tells clients ADT’s Q2 print revealed that revenue, margins and free cash flow (FCF) surpassed his initial expectations thanks to reduced attrition rates and improved subscriber acquisition cost efficiency. “We believe ADT is uniquely positioned to weather COVID-19 and macro related headwinds given the defensiveness and growing importance of home security, fewer home relocations during the pandemic and increasing suburbanization that can drive unit adds,” the five-star analyst commented.

What’s behind this bullish take? ADT’s improved attrition and subscriber acquisition efficiency strengthen Tong’s “outlook of the underlying health of the company’s residential monitoring business, which comprises 80% of total revenue.” He added, “We believe attrition improvements won’t necessarily be linear going forward, but expect the broad-based strengthening of attrition and SAC efficiency to drive improving revenue, profitability and FCF trends in ADT’s residential business.”

When it comes to FCF, Tong stated, “We expect FCF over the near-term to benefit from improving subscriber acquisition cost efficiency, as well as rising retention rates, as it’s more cost effective to retain a customer than it is to acquire a new one. Additionally, we believe ADT’s consumer financing program will drive upsell, contributing to better FCF trends. Over the intermediate-term, we look for a return of commercial growth to lift FCF performance, given commercial customers pay a greater proportion of their installation costs upfront.”

Additionally, the increasing importance of home security and suburbanization as a result of COVID-19 could act as tailwinds that spur growth in FCF. Also standing to benefit FCF is its long-term partnership with Google, announced on August 3.

This move increases its exposure to the smart home industry and bolsters the long-term FCF outlook, in Tong’s opinion. The collaboration will combine Google Nest’s hardware and services with ADT’s installation, service and professional monitoring network, with both companies making a $150 million commitment to support training, marketing and technology solutions.

“We believe ADT will begin to see material financial benefits from the partnership in 2022 when the joint professional install platform is launched... In connection with this partnership, Google also announced that it will make a $450 million equity investment in ADT, which increases our confidence in the companies’ commitment to the alliance,” Tong said.

It should come as no surprise, then, that Tong stands squarely with the bulls. To this end, he rates ADT a Buy and gives it a $17 price target, implying 45% upside potential. (To watch Tong’s track record, click here

Based on 3 Buys and 5 Holds, the word on the Street is that ADT is a Moderate Buy. At $14.38, the average price target suggests 22.5% upside potential from current levels. (See ADT stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post Goldman Sachs: These 3 Stocks Are Poised to Soar by at Least 30% appeared first on TipRanks Financial Blog.

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Supreme Court Rules Public Officials May Block Their Constituents On Social Media

Supreme Court Rules Public Officials May Block Their Constituents On Social Media

Authored by Matthew Vadum via The Epoch Times (emphasis…

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Supreme Court Rules Public Officials May Block Their Constituents On Social Media

Authored by Matthew Vadum via The Epoch Times (emphasis ours),

Public officials may block people on social media in certain situations, the Supreme Court ruled unanimously on March 15.

People leave the U.S. Supreme Court in Washington on Feb. 21, 2024. (Kevin Dietsch/Getty Images)

At the same time, the court held that public officials who post about topics pertaining to their work on their personal social media accounts are acting on behalf of the government. But such officials can be found liable for violating the First Amendment only when they have been properly authorized by the government to communicate on its behalf.

The case is important because nowadays public officials routinely reach out to voters through social media on the same pages where they discuss personal matters unrelated to government business.

When a government official posts about job-related topics on social media, it can be difficult to tell whether the speech is official or private,” Justice Amy Coney Barrett wrote for the nation’s highest court.

The case is separate from but brings to mind a lawsuit that several individuals previously filed against former President Donald Trump after he blocked them from accessing his social media account on Twitter, which was later renamed X. The Supreme Court dismissed that case, Biden v. Knight First Amendment Institute, in April 2021 as moot because President Trump had already left office.

At the time of the ruling, the then-Twitter had banned President Trump. When Elon Musk took over the company he reversed that policy.

The new decision in Lindke v. Freed was written by Justice Amy Coney Barrett.

Respondent James Freed, the city manager of Port Huron, Michigan, used a public Facebook account to communicate with his constituents. Petitioner Kevin Lindke, a resident of Port Huron, criticized the municipality’s response to the COVID-19 pandemic, including accusations of hypocrisy by local officials.

Mr. Freed blocked Mr. Lindke and others and removed their comments, according to Mr. Lindke’s petition.

The U.S. Court of Appeals for the 6th Circuit ruled for Mr. Freed, finding that he was acting only in a personal capacity and that his activities did not constitute governmental action.

Mr. Freed’s attorney, Victoria Ferres, said during oral arguments before the Supreme Court on Oct. 31, 2023, that her client didn’t give up his rights when using social media.

This country’s 21 million government employees should have the right to talk publicly about their jobs on personal social media accounts like their private-sector counterparts.”

The position advocated by the other side would unfairly punish government officials, and “will result in uncertainty and self-censorship for this country’s government employees despite this Court repeatedly finding that government employees do not lose their rights merely by virtue of public employment,” she said.

In Lindke v. Freed, the Supreme Court found that a public official who prevents a person from comments on the official’s social media pages engages in governmental action under Section 1983 only if the official had “actual authority” to speak on the government’s behalf on a specific matter and if the official claimed to exercise that authority when speaking in the relevant social media posts.

Section 1983 refers to Title 42, U.S. Code, Section 1983, which allows people to sue government actors for deprivation of civil rights.

Justice Barrett wrote that according to the so-called state action doctrine, the test for “actual authority” must be “rooted in written law or longstanding custom to speak for the State.”

“That authority must extend to speech of the sort that caused the alleged rights deprivation. If the plaintiff cannot make this threshold showing of authority, he cannot establish state action.”

“For social-media activity to constitute state action, an official must not only have state authority—he must also purport to use it,” the justice continued.

State officials have a choice about the capacity in which they choose to speak.

Citing previous precedent, Justice Barrett wrote that generally a public employee claiming to speak on behalf of the government acts with state authority when he speaks “in his official capacity or” when he uses his speech to carry out “his responsibilities pursuant to state law.”

“If the public employee does not use his speech in furtherance of his official responsibilities, he is speaking in his own voice.”

The Supreme Court remanded the case to the 6th Circuit with instructions to vacate its judgment and ordered it to conduct “further proceedings consistent with this opinion.”

Also on March 15, the Supreme Court ruled on O’Connor-Ratcliff v. Garnier, a related case. The court’s sparse, unanimous opinion was unsigned.

Petitioners Michelle O’Connor-Ratcliff and T.J. Zane were two elected members of the Poway Unified School District Board of Trustees in California who used their personal Facebook and Twitter accounts to communicate with the public.

Respondents Christopher Garnier and Kimberly Garnier, parents of local students, “spammed Petitioners’ posts and tweets with repetitive comments and replies” so the school board members blocked the respondents from the accounts, according to the petition filed by Ms. O’Connor-Ratcliff and Mr. Zane.

But the Garniers said they were acting in good faith.

“The Garniers left comments exposing financial mismanagement by the former superintendent as well as incidents of racism,” the couple said in a brief.

The U.S. Court of Appeals for the 9th Circuit found in favor of the Garniers, holding that elected officials using social media accounts were participating in a public forum.

The Supreme Court ruled in a three-page opinion that because the 9th Circuit deviated from the standard the high court articulated in Lindke v. Freed, the 9th Circuit’s decision must be vacated.

The case was remanded to the 9th Circuit “for further proceedings consistent with our opinion” in the Lindke case, the Supreme Court stated.

Tyler Durden Sun, 03/17/2024 - 22:10

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Home buyers must now navigate higher mortgage rates and prices

Rates under 4% came and went during the Covid pandemic, but home prices soared. Here’s what buyers and sellers face as the housing season ramps up.

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Springtime is spreading across the country. You can see it as daffodil, camellia, tulip and other blossoms start to emerge. 

You can also see it in the increasing number of for sale signs popping up in front of homes, along with the painting, gardening and general sprucing up as buyers get ready to sell. 

Which leads to two questions: 

  • How is the real estate market this spring? 
  • Where are mortgage rates? 

What buyers and sellers face

The housing market is bedeviled with supply shortages, high prices and slow sales.

Mortgage rates are still high and may limit what a buyer can offer and a seller can expect.  

Related: Analyst warns that a TikTok ban could lead to major trouble for Apple, Big Tech

And there's a factor not expected that may affect the sales process. Fixed commission rates on home sales are going away in July.

Reports this week and in a week will make the situation clearer for buyers and sellers. 

The reports are:

  • Housing starts from the U.S. Commerce Department due Tuesday. The consensus estimate is for a seasonally adjusted rate of about 1.4 million homes. These would include apartments, both rentals and condominiums. 
  • Existing home sales, due Thursday from the National Association of Realtors. The consensus estimate is for a seasonally adjusted sales rate of about 4 million homes. In 2023, some 4.1 million homes were sold, the worst sales rate since 1995. 
  • New-home sales and prices, due Monday from the Commerce Department. Analysts are expecting a sales rate of 661,000 homes (including condos), up 1.5% from a year ago.

Here is what buyers and sellers need to know about the situation. 

Mortgage rates will stay above 5% 

That's what most analysts believe. Right now, the rate on a 30-year mortgage is between 6.7% and 7%. 

Rates peaked at 8% in October after the Federal Reserve signaled it was done raising interest rates.

The Freddie Mac Primary Mortgage Market Survey of March 14 was at 6.74%. 

Freddie Mac buys mortgages from lenders and sells securities to investors. The effect is to replenish lenders' cash levels to make more loans. 

A hotter-than-expected Producer Price Index released that day has pushed quotes to 7% or higher, according to data from Mortgage News Daily, which tracks mortgage markets.

Home buyers must navigate higher mortgage rates and prices this spring.

TheStreet

On a median-priced home (price: $380,000) and a 20% down payment, that means a principal and interest rate payment of $2,022. The payment  does not include taxes and insurance.

Last fall when the 30-year rate hit 8%, the payment would have been $2,230. 

In 2021, the average rate was 2.96%, which translated into a payment of $1,275. 

Short of a depression, that's a rate that won't happen in most of our lifetimes. 

Most economists believe current rates will fall to around 6.3% by the end of the year, maybe lower, depending on how many times the Federal Reserve cuts rates this year. 

If 6%, the payment on our median-priced home is $1,823.

But under 5%, absent a nasty recession, fuhgettaboutit.

Supply will be tight, keeping prices up

Two factors are affecting the supply of homes for sale in just about every market.

First: Homeowners who had been able to land a mortgage at 2.96% are very reluctant to sell because they would then have to find a home they could afford with, probably, a higher-cost mortgage.

More economic news:

Second, the combination of high prices and high mortgage rates are freezing out thousands of potential buyers, especially those looking for homes in lower price ranges.

Indeed, The Wall Street Journal noted that online brokerage Redfin said only about 20% of homes for sale in February were affordable for the typical household.

And here mortgage rates can play one last nasty trick. If rates fall, that means a buyer can afford to pay more. Sellers and their real-estate agents know this too, and may ask for a higher price. 

Covid's last laugh: An inflation surge

Mortgage rates jumped to 8% or higher because since 2022 the Federal Reserve has been fighting to knock inflation down to 2% a year. Raising interest rates was the ammunition to battle rising prices.

In June 2022, the consumer price index was 9.1% higher than a year earlier. 

The causes of the worst inflation since the 1970s were: 

  • Covid-19 pandemic, which caused the global economy to shut down in 2020. When Covid ebbed and people got back to living their lives, getting global supply chains back to normal operation proved difficult. 
  • Oil prices jumped to record levels because of the recovery from the pandemic recovery and Russia's invasion of Ukraine.

What the changes in commissions means

The long-standing practice of paying real-estate agents will be retired this summer, after the National Association of Realtors settled a long and bitter legal fight.

No longer will the seller necessarily pay 6% of the sale price to split between buyer and seller agents.

Both sellers and buyers will have to negotiate separately the services agents have charged for 100 years or more. These include pre-screening properties, writing sales contracts, and the like. The change will continue a trend of adding costs and complications to the process of buying or selling a home.

Already, interest rates are a complication. In addition, homeowners insurance has become very pricey, especially in communities vulnerable to hurricanes, tornadoes, and forest fires. Florida homeowners have seen premiums jump more than 102% in the last three years. A policy now costs three times more than the national average.

Related: Veteran fund manager picks favorite stocks for 2024

 

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Mistakes Were Made

Mistakes Were Made

Authored by C.J.Hopkins via The Consent Factory,

Make fun of the Germans all you want, and I’ve certainly done that…

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Mistakes Were Made

Authored by C.J.Hopkins via The Consent Factory,

Make fun of the Germans all you want, and I’ve certainly done that a bit during these past few years, but, if there’s one thing they’re exceptionally good at, it’s taking responsibility for their mistakes. Seriously, when it comes to acknowledging one’s mistakes, and not rationalizing, or minimizing, or attempting to deny them, and any discomfort they may have allegedly caused, no one does it quite like the Germans.

Take this Covid mess, for example. Just last week, the German authorities confessed that they made a few minor mistakes during their management of the “Covid pandemic.” According to Karl Lauterbach, the Minister of Health, “we were sometimes too strict with the children and probably started easing the restrictions a little too late.” Horst Seehofer, the former Interior Minister, admitted that he would no longer agree to some of the Covid restrictions today, for example, nationwide nighttime curfews. “One must be very careful with calls for compulsory vaccination,” he added. Helge Braun, Head of the Chancellery and Minister for Special Affairs under Merkel, agreed that there had been “misjudgments,” for example, “overestimating the effectiveness of the vaccines.”

This display of the German authorities’ unwavering commitment to transparency and honesty, and the principle of personal honor that guides the German authorities in all their affairs, and that is deeply ingrained in the German character, was published in a piece called “The Divisive Virus” in Der Spiegel, and immediately widely disseminated by the rest of the German state and corporate media in a totally organic manner which did not in any way resemble one enormous Goebbelsian keyboard instrument pumping out official propaganda in perfect synchronization, or anything creepy and fascistic like that.

Germany, after all, is “an extremely democratic state,” with freedom of speech and the press and all that, not some kind of totalitarian country where the masses are inundated with official propaganda and critics of the government are dragged into criminal court and prosecuted on trumped-up “hate crime” charges.

OK, sure, in a non-democratic totalitarian system, such public “admissions of mistakes” — and the synchronized dissemination thereof by the media — would just be a part of the process of whitewashing the authorities’ fascistic behavior during some particularly totalitarian phase of transforming society into whatever totalitarian dystopia they were trying to transform it into (for example, a three-year-long “state of emergency,” which they declared to keep the masses terrorized and cooperative while they stripped them of their democratic rights, i.e., the ones they hadn’t already stripped them of, and conditioned them to mindlessly follow orders, and robotically repeat nonsensical official slogans, and vent their impotent hatred and fear at the new “Untermenschen” or “counter-revolutionaries”), but that is obviously not the case here.

No, this is definitely not the German authorities staging a public “accountability” spectacle in order to memory-hole what happened during 2020-2023 and enshrine the official narrative in history. There’s going to be a formal “Inquiry Commission” — conducted by the same German authorities that managed the “crisis” — which will get to the bottom of all the regrettable but completely understandable “mistakes” that were made in the heat of the heroic battle against The Divisive Virus!

OK, calm down, all you “conspiracy theorists,” “Covid deniers,” and “anti-vaxxers.” This isn’t going to be like the Nuremberg Trials. No one is going to get taken out and hanged. It’s about identifying and acknowledging mistakes, and learning from them, so that the authorities can manage everything better during the next “pandemic,” or “climate emergency,” or “terrorist attack,” or “insurrection,” or whatever.

For example, the Inquiry Commission will want to look into how the government accidentally declared a Nationwide State of Pandemic Emergency and revised the Infection Protection Act, suspending the German constitution and granting the government the power to rule by decree, on account of a respiratory virus that clearly posed no threat to society at large, and then unleashed police goon squads on the thousands of people who gathered outside the Reichstag to protest the revocation of their constitutional rights.

Once they do, I’m sure they’ll find that that “mistake” bears absolutely no resemblance to the Enabling Act of 1933, which suspended the German constitution and granted the government the power to rule by decree, after the Nazis declared a nationwide “state of emergency.”

Another thing the Commission will probably want to look into is how the German authorities accidentally banned any further demonstrations against their arbitrary decrees, and ordered the police to brutalize anyone participating in such “illegal demonstrations.”

And, while the Commission is inquiring into the possibly slightly inappropriate behavior of their law enforcement officials, they might want to also take a look at the behavior of their unofficial goon squads, like Antifa, which they accidentally encouraged to attack the “anti-vaxxers,” the “Covid deniers,” and anyone brandishing a copy of the German constitution.

Come to think of it, the Inquiry Commission might also want to look into how the German authorities, and the overwhelming majority of the state and corporate media, accidentally systematically fomented mass hatred of anyone who dared to question the government’s arbitrary and nonsensical decrees or who refused to submit to “vaccination,” and publicly demonized us as “Corona deniers,” “conspiracy theorists,” “anti-vaxxers,” “far-right anti-Semites,” etc., to the point where mainstream German celebrities like Sarah Bosetti were literally describing us as the inessential “appendix” in the body of the nation, quoting an infamous Nazi almost verbatim.

And then there’s the whole “vaccination” business. The Commission will certainly want to inquire into that. They will probably want to start their inquiry with Karl Lauterbach, and determine exactly how he accidentally lied to the public, over and over, and over again …

And whipped people up into a mass hysteria over “KILLER VARIANTS” …

And “LONG COVID BRAIN ATTACKS” …

And how “THE UNVACCINATED ARE HOLDING THE WHOLE COUNTRY HOSTAGE, SO WE NEED TO FORCIBLY VACCINATE EVERYONE!”

And so on. I could go on with this all day, but it will be much easier to just refer you, and the Commission, to this documentary film by Aya Velázquez. Non-German readers may want to skip to the second half, unless they’re interested in the German “Corona Expert Council” …

Look, the point is, everybody makes “mistakes,” especially during a “state of emergency,” or a war, or some other type of global “crisis.” At least we can always count on the Germans to step up and take responsibility for theirs, and not claim that they didn’t know what was happening, or that they were “just following orders,” or that “the science changed.”

Plus, all this Covid stuff is ancient history, and, as Olaf, an editor at Der Spiegel, reminds us, it’s time to put the “The Divisive Pandemic” behind us …

… and click heels, and heil the New Normal Democracy!

Tyler Durden Sat, 03/16/2024 - 23:20

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